Well, most of us have been hunkered down for the past year, waiting for shutdowns to be lifted, waiting for vaccines, implementing preventative measures, in short, standing by for life to return to some semblance of normal.
For business owners, particularly those in the aesthetic space, it’s been a tough year. Many have been shut down for longer than they’ve been open these past twelve months. Which begs the question….what are business owners to do about these twelve months of missed potential, lost sales, and significant financial impact?
At Salient Medical Solutions, we see tremendous opportunity in the market at this moment. Given the lockdowns and the associated prohibitions on cosmetic and aesthetic services, there is a large pent-up demand for these procedures in many parts of the country, which will result in a client surge for aesthetic services until this demand is satisfied. A savvy practitioner will be thinking strategically about ways to capitalize on this by adding capabilities and capacity to their operation. Additional services and the ability to treat more patients will help businesses make up for lost profit from the pandemic. Unfortunately, not all businesses have successfully made it through the pandemic, either, which means that there will be reshuffling in the market, and with uncertainty comes opportunity.
For those looking to take advantage of the aesthetic market recovery, here are some things to consider:
For those relatively new to aesthetics, start simple and focused. Minimize complexity to increase the odds of success and to ensure proper quality of treatment. Microneedling fits this criteria, as does the purchase of an IPL system to treat minor skin imperfections, or purchasing a dedicated hair removal system.
For a more mature business, the first priority should be to think about where a business has service gaps to fill. If a clinic is performing microneedling, it should consider the addition of PRP for additional efficacy and improved patient results. Similarly, if a medispa has retail skincare products for its clientele, it should explore adding a well-known sunscreen line for additional revenues. Focusing where one has competency can add a natural extension of existing service lines.
Next up, an expansion from existing services. For a simple example, a sole proprietor doing microneedling might choose to begin to offer hair removal or treat solar lentigines and telangiectasia with an IPL system. For someone with an expandable platform, it might make sense to consider adding another handpiece or applicator to extend the services capabilities.
If maximum flexibility is desired, an expandable aesthetic platform makes a lot of sense. An initial purchase might include only one or several handpieces to get started. As patient flow increases and the business grows, additional handpieces can be added to add capabilities. The beauty of a powerful platform (Salient offers Vydence Etherea and Zye), is that it provides growth and scalability to any business. One can start simple and expand as it makes business sense and as demand increases.
A practitioner should consider where the strengths of the business and its staff lie. It makes sense to add capabilities and treatments that align with existing experience and proficiencies. This leads to easier and more effective implementation of the new technology being added, ensuring better client satisfaction and treatment efficacy.
In closing, we understand the market, and believe that there are concrete things practitioners and business owners can do to grow their businesses post-pandemic and beyond. Aesthetics is an important part of life for many consumers, and ensuring they have skilled aestheticians to turn to is good for all of us.
Best wishes, and stay safe.
Michael Pizzorno, CEO
Salient Medical Solutions
