About this episode
Babak Moini previously joined us in Episodes 45 and 59, sharing his story and his predictions for what COVID would mean for aesthetic businesses. Two years on, we reflect on the post-COVID era and the looming global economic crisis.
We explore his view of the Australian market and key trends since we last spoke, whether his April 2020 predictions were right, wrong or simply delayed, post-COVID demand for injectables, and the hangover from government stimulus, borrowing and lockdowns, including inflation and climbing interest rates.
We then brainstorm countermeasures for clinics: auditing your business to understand margins and profitability, improving cash flow, negotiating with suppliers, managing debt, break-even analysis, client acquisition costs and why constant discounting hurts.
What you'll learn
- How inflation and interest rates affect clinics
- Why many clinics aren't profitable
- Knowing your break-even point
- Improving cash flow and negotiating with suppliers
- The problem with constant discounting
Topics
- Business
- Finance
- Cashflow
- Pricing
- Australia
Full transcript
The full transcript for this episode is coming soon.