How can you avoid being sucked into a “race to the bottom”?
The market is flooded with competitors, everyone is discounting, and the margins are tight.
As we slowly emerge from Coronavirus, it’s only going to get tougher, with social distancing restricting the number of patients clinics can see. There will be a temptation to cut prices even further to woo back nervous patients. Many will close down for good.
Deb Farnworth-Wood, founder of the Australian Skin Clinics has shown one way out of this conundrum. She has built a successful franchise brand which she grew to 60 clinics across Australia and AUD $70 million before selling.
Nowadays, she owns and runs the Ultimate Skin & Body Clinic, and is in the process of building a brand new business, including launching a new skincare range.
During this podcast, Deb reveals the secret to her success and shares the lessons she has learned from the franchise model that can be applied to every clinic, whether it’s a single practice, or a chain.
Also in this episode….
>> Why clinics struggle to make money – And the mistake you must avoid if you want to stay on the road to profitability
>> How the franchise model will help your clinic thrive – Even if you operate a single practice
>> How to choose the right franchisee – And why doctors aren’t always the best candidates
>> How to avoid falling into discounting trap – Hint: It’s not just about the treatments you offer
>> What to look for when hiring beauty therapists – And the vital skill that practice owners routinely overlook
>> How to turn COVID19 into an opportunity – And how it could help you recruit even better staff
>> How to utilise your team if your clinic is still closed – Treating patients isn’t the only thing they can do
…And much more.
Resources mentioned in this episode: