Where Should You Spend $100,000 in Your Aesthetic Practice?
Posted on March 8, 2022
When it comes to increasing revenue, retaining current patients and acquiring new patients, it can be difficult to figure out where to spend money in your aesthetic practice so it can flourish. You might be reading article after article, feeling discombobulated with no solution as to where you should spend money to benefit your practice’s success.
So, a big question we wanted to answer is, “Where should I spend $100,000 in my aesthetic practice?”
The truth is, you should “Hit the Trifecta” when you are spending $100,000 on your aesthetic practice. You might be thinking, “That sounds really fancy and all, but what exactly does that mean?”. It means that you should focus on spending money on the following three things in your aesthetic practice:
Marketing is the “face” of your practice and is your method of acquiring new patients; thus, it is essential that you have a strong marketing campaign that attracts prospective patients and builds loyalty with current patients. Technology is also something you should strategically spend money on because newer equipment affords your practice the opportunity to offer better/additional procedures which equates to more revenue. It is also crucial to invest in your staff with competitive pay (and benefits!) to keep them happy and loyal to your aesthetic practice. With the rate of resignations occurring in the country and throughout the world, it is no secret that employers need to provide strong employee incentives to keep their team members.
If you would like to read more about how you can “Hit the Trifecta” in order to see your aesthetic practice grow and thrive, check out the article our aesthetic industry experts, Jay Shorr and Mara Shorr, wrote in the Modern Aesthetics digital magazine column titled, “Where Should You Spend $100,000 in Your Practice?”.
Remember, we’re always happy to help you strategically increase revenue and decrease costs in your aesthetic practice! Click here to schedule your free 30-minute consult with our experts, Jay Shorr and Mara Shorr.
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About Shorr Solutions:
Shorr Solutions is an award-winning practice management consulting company with offices in South and Central Florida. We work with aesthetic medical practices in all 50 states of the U.S. to help them strengthen the operational, financial, and administrative health of their business. With decades of industry experience, our father-daughter partners, Jay Shorr and Mara Shorr, lead our knowledgeable team of experts to assist practices in the aesthetic medical fields increase efficiency, increase revenue, and decrease their costs.
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