Episode 30

Eliminating waste in your practice

by Business of Aesthetics | April 1, 2021

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There could be several factors that contribute to lower your revenue. Waste is one of the main components that directly affects the revenue of your practice. Therefore, it is crucial to identify the areas that cause waste in your practice and how to control those areas. Listen to this episode to discover how you can eliminate waste in your practice.

Key highlights

  • Background on Thrive Aesthetics and Anti-aging 
  • Picking the 5 most important categories of expenses and controlling them
    1. Staff/payroll
    2. Rent
    3. Disposables
    4. Capital equipment
    5. Consumables
  • Payroll
    1. What are payroll expenses?
    2. What does it include?
    3. Tips to make it efficient
  • Rent
    1. Importance of choosing the right location
    2. Visibility of your location
    3. Negotiating with landlords
  • Disposables
    1. Managing little expenses efficiently
    2. Group purchasing contracts
    3. Keep your other expenses in check
  • Capital equipment
    1. What is capital equipment?
    2. Importance of establishing an equipment line of credit 
    3. Financing equipment
    4. Opportunity value of the equipment
    5. Why do you need to partner up with a good equipment finance company?
  • Consumables
    1. Why is it a gross expense?
    2. Why are these difficult to tell?
  • Why is this a worthwhile exercise for your practice?


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