If you’ve ever dreamed about hitting six-figures in your spa or solo practice, I’ve got a secret for you: it’s easy.
I know that may be hard to read, especially if generating revenue has been anything but easy or you’ve had a tough season of life or business, but let’s simplify this six-figure vision, and break it down to build up your bottom line.
Let’s look at it this way: to make an additional $100,000 per year in revenue; you only need to make an additional $274 per day.
Now that doesn’t sound crazy at all, and can you imagine what $100,000 could do for your life and business?
From reinvesting those profits to purchase your dream space, or grow your team and provide jobs, or onboard top of the line products and equipment, or further you and your team’s esthetic education, the sky’s the limit on your growth as well as continued revenue projections because all these things have the ability to generate more income!
Whether you dream of hitting six-figures to grow and expand your business, or simply bump up your take-home pay, consider this your go-to guide for boosting your business’ bottom line, while also helping your clients to achieve better results (which, Spoiler Alert! will also bring in more business).
In case you haven’t noticed, growth activities tend to be exponential in their return, so let's dive in:
1) Retail Revenue Powered by E-Commerce
We’re in the age of Amazon-level-easy, which means that the key to increasing your product sales all lies in how simplified and streamlined you make it for your client.
If you don’t make it easy, you risk losing their business to places like Amazon, (and we all know how that goes in terms of clients finding black market products from god knows who).
Not to mention, by forcing your clients to only purchase product from you when they’re in for a treatment, or to make a special errand, you’re leaving money on the table.
When you allow your products to be purchased on your site, no longer do you have to rely on being physically present to sell your clients their products, but you also don’t have to solely rely on your local client base for selling retail, you can expand your selling power far beyond your zip code.
Last October, we released a guide giving you the three steps to grow your business with e-commerce, including:
- Creating an online store
- Outsourcing your packing and shipping
- And using an e-commerce fulfillment center
All of these steps are still applicable and are the best starting points for getting your ecommerce up and running, and if you put this advice into action, we know you’ll have the fruits of your labor to show for it.
2) Embrace the Subscription Model
Netflix does it; gyms do it, grocery chains everywhere are starting to introduce it via delivery services, more and more of the things we use in our daily lives are moving to a subscription model, and it’s not going away anytime soon.
Because people love the ability to get products and services they’re already planning to purchase sent to them on command so they don’t have to think about it or do any extra work (again, convenience is key!). Also, there are typically additional perks to signing up for a subscription model such as a reduced price on product or perhaps on accompanying treatments, which is much easier to justify as a business owner when you’ve got monthly subscription revenue you can count on.
For your clients, this subscription option is helpful to ensure they’re never running out of product, they’re remaining consistent in their routine, and from your perspective, it helps to prevent your clients from shopping elsewhere when they run out of product on a day you’re off work or when you’re on vacation.
Also, this system actively enforces boundaries for a healthy work and life balance, something that’s of utmost importance for running a legitimate business. (We know you love your clients, but they don’t need to be texting you about product refills at 9 p.m. on any night of the week.)
In addition to offering subscriptions on products, you can also extend the same principle to your services through memberships, especially with treatments such as CIT/micro-needling when you know best results will be achieved through a series of treatments in addition to maintenance treatments.
Offering those services in a membership model or as a treatment bundle allows you to extend perks with the guaranteed income, and it’s better insurance that you’ll help your client achieve their goals.
3) Pair At-Home Devices With Products
At-home devices are an easy sell for your skincare-obsessed clients, but for your clients who need a little help remaining consistent, pairing at-home devices with products can be the ticket to getting their buy-in since that device can drastically improve and maintain their results between their treatments.
For example, retailing a device that helps to increase penetration of topically applied products (think, retail version of what Nano-Infusion on your pro CIT Pen does) will incentivize your client to be diligent with their home care.
Think about it, if a client knew that they had a tool in their arsenal that could easily clear a pesky breakout, brighten their skin, work to reduce wrinkles AND push in product for better efficacy in between their appointments with you, don’t you think that sounds like a no-brainer?
If your answer is yes, you need to seriously consider retailing My Skin Buddy in your esthetic practice. It’s lightweight, compact, the packaging is gorgeous (which also makes it great for your clients who love to find gifts in your retail area), and if you pair it with the right product upon initial purchase, you’ll help your clients see immediate results.
(P.S. - When you purchase My Skin Buddy through Herbal Skin Solutions, you’ll receive a complimentary Herbal Sheet mask ($20 retail value) to experience the power of My Skin Buddy alongside the Herbal Sheet Mask for an immediate glow-up!)
Another must-have, at-home device to carry is something for your “pop-a-holics” who can’t help themselves with extracting with their fingers and destroying their skin in the process.
We love the Professional Strength Ultrasonic Skin Scrubber for both in the treatment room and retail for shimmying up makeup, dirt, and debris out of the pore. Not only can you literally see what is extracted from their skin onto the device (oh so satisfying!), but it also has a setting for product penetration.
Using at-home modalities, although they may not be as potent as the professional strength devices and cosmeceuticals in your treatment room, the participatory steps toward progress are what matter because the intention of wanting to improve their skin is energized with action.
When your clients use professional skincare and devices recommended by you, their esthetician, their results become amplified, and thus, their loyalty is cemented, and your referrals increase alongside your retail revenue.