Setting up a Botox Business for Success

 Building Your Botox Business

Aesthetic injectables are just starting to scrape the surface of their market potential, in other words, you couldn’t be entering the field at a better time.

Women currently spend $300-$500 billion per year on beauty products and, over the next decade, many of those products will become obsolete. The belief in beauty creams and miracle serums is drying up as people are seeing real results with simple, non-invasive aesthetic treatments.

Without the intense commitment and cost of surgery, clients can now take a collaborative role in their treatments. Small tweaks to their appearance can be addressed simply and effectively for the first time and the only real battle left is awareness.

New demographics are exploring aesthetic injectables as well, the taboo that surrounded men and beauty products is almost non-existent when it comes to products like Botox and Kybella. Many men use treatments as an avenue to feel better about their appearance as well as a way to stay competitive with younger professionals entering the market.

The college crowd is also showing an interest in aesthetic treatments. Liquid nose jobs and strategic hyaluronic acid injections eliminate insecurities over disproportionate features and help build confidence in those that are entering the workforce for the first time.

 

Respected analytic firm, TechNavio forecasts Injectables to beat out other more traditional cosmetics markets 

Currently, invasive aesthetic surgery generates revenues of over $27.8 billion, annually and is expected to hit $73.6 billion in 2022. That’s a Compound Annual Growth Rate, or CAGR, of 5.5 %. Beauty creams, on the other hand, are now forecast at a CAGR of 4.9% and are actually on a decline in growth percentage from the past decade. 

The amazing part? TechNavio now forecasts the global facial injectables market to grow at a CAGR of 9.75% from 2016-2020. Almost double that of competitive industries.

Even more exciting, the facial injectables forecast seem to rise year-over-year as consumer demand continues to drive Botox and other injectable sale’s volumes higher.

With all of this in mind, it’s no surprise that the market is being flooded with opportunistic investors who are less concerned with outcome than product movement. So how do you handle the fierce competition and maintain your loyal following?

We’ve looked at dozens of clinics and spoken to successful aesthetics business owners to try to get an inside view. Over the next few weeks, we’ll be sharing some tips on a few things that stand out when it comes to staying power.

Today’s Tips

First and Foremost Your Staff Needs Experience Working With the Products

This can be the toughest thing for new business owners to accept, particularly if you’re on a tight budget. It’s tempting to hire practitioners based on their salary requirements. 

 

The subtleties of product behavior and the ability to create a truly beautiful result take time and dedication to master

Remember that ultimately your success will depend on your results and that means every treatment has the potential to bring in dollars or to rob you of future clients. When you start your hiring process be sure that you have a seasoned injector on staff. A Master Injector is worth their weight in gold. These people will not only keep your clientele happy they’ll be capable of training and mentoring your new staff members. 

Once you’ve found a great Master Injector and negotiated a salary try looking for talent in some creative ways. One technique that’s growing in popularity is seeking out young talent and helping them find the right training. While the up-front investment may not be what you had in mind, consider that standout portfolios will be the true test for any clinic over the next decade.

Try Recruiting From Your Local Art and Beauty Schools

Since Master Injector is a relatively new career path many students are still completely unaware of the industry

Looking for raw talent is something that most practices neglect. By nurturing people that have an interest in aesthetics and a natural eye for proportion you start out ahead of the pack. With solid training, these people will often go on to be some of the very best aestheticians, and because this is a relatively new industry marketing to this demographic will often bring in talented people that would otherwise vanish into another profession.

Over the next few weeks, we’ll be offering you more tips on how to build your Botox business from the ground up. Please feel free to leave us your thoughts or let us know if there’s a subject that would interest you.

As a bonus grab a free copy of our Botox Vs. Dysport Triple Blind Study Breakdown.

 

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