2020 has been quite the year so far. Alongside the tragedies the world has witnessed, the devastating impact of a global pandemic, and the abrupt interruption to life as we know it - many of you have been left wondering about your business and employment prospects as an aesthetic practitioner, and how to make money in aesthetics. As the next season approaches, we take a look at what you could expect for the tail end of this eventful year.
Is there a market?
The aesthetics market has taken a hit as a result of COVID-19, much like every other industry. But with the dermal filler market estimated to reach a value of 4bn USD by the end of 2021, it will take more than a year of downtime to dismantle it, and there are new consumer trends emerging. Many patients are itching to get back to regular treatments and many more new patients are in the process of seeking out a practitioner. If you're wondering how to make money in aesthetics, rest assured the market will not be your biggest hurdle.
Adapt to survive
In nature, a species has to adapt to survive - especially in the face of adversity. In the wake of recent times, your aesthetics practice is no different. If you are concerned about how to make money in aesthetics, act promptly to bolster patient retention, and entice new faces through the door. Now more than ever, you must firmly don your business hat alongside your medic’s hat. It’s time to level up and ensure the people who are having treatments are coming to you. Make sure your business is confidently ‘COVID Secure’ and has all the appropriate protocols in place to ensure safe practice.
In order to remain competitive in the industry during even the toughest of times (and 2020 certainly qualifies!) it is imperative that you know the ins and outs of your operations and have a firm understanding of your costs and expenses. Check you’re accessing the best deals and rates for materials, supplies, and other overheads. Do a thorough reconciliation and ‘plug the leaks’ that could be costing more than you realise (and more than you can afford) as we ease our way back to some semblance of business normality. Spending money on a slick marketing campaign is undermined if you’re paying over the odds for your business utilities - something that can be fixed quickly and easily once it’s given the attention it deserves.
Patients want more than ever from their aesthetics practitioner. To capitalise on this demand for a wide breadth of treatments under one, reliable roof - attend further training to enhance your clinical offering whilst also refreshing your skills and confidence. Consider diversifying into medical-grade skincare alongside your non-surgical injectables to broaden your opportunity for revenue, and address the growing consumer demand in this area.
Your social following and existing patients have the answers to your strategy woes. Use Instagram stories to ask questions about their aesthetics related concerns. Jump on a live stream or reels to deliver a Q & A session. Get creative! You will gain valuable insight into the perspective of your target audience, enabling you to provide value-centric, relevant information, and market appropriate offers accordingly. Your patients are astute and have their absolute pick when it comes to fulfilling their social appetite for content. Make sure your offering is authentic and gives them a chance to connect with you, and what you and your practice stand for.
Join a team
If you are yet to launch your own practice you may be wondering how to make money in aesthetics and feel understandably overwhelmed at the prospect in light of recent events. If you would feel more secure earning a reliable aesthetician salary, consider seeking employment in an already established clinic. You can gain confidence and access invaluable support as you build up your experience in injecting and could consider branching out at a later, more stable time.
As ever - network
2020 is going to be a blip in the records for most businesses. As everyone works hard to find their feet and relaunch their practices, it is now more crucial than ever to have dependable business connections and strong community relationships. Partake in workshops, cross-promote fellow aestheticians, and attend conferences. There are valuable education and networking opportunities happening both virtually and in person, and more events planned for early 2021. Check out the below, just a selection of events offering an invaluable learning experience and the opportunity to maximise your networking potential:
- IAPCAM Symposium on managing complications
- Aesthetics Business Conference hosted by Hamilton Fraser Cosmetic Insurance
- AUCC - a free charity event bringing together a wealth of industry experts to provide a comprehensive educational experience to the aesthetics community.
- FACE Facial Aesthetic Conference and Exhibition
- Aesthetic Medicine Live
Keep the faith
Most people, your patients included, just want to see some sort of normality resumed. We are all working towards business as usual, whilst making mindful choices to support and protect each other as we navigate to the finish line of this tempestuous year. Keep the faith, set a goal with an end of year deadline, and go for it. Your success as an aesthetician in 2020 can only be as big as you dream, plan, and work for.