I work directly in the space. Great article. These are luxury services. Time and time again I see practices race their prices to the bottom to be the cheapest out there, only capturing bottom of the barrel patients that look for Groupon type pricing. They will always be shopping for the cheapest. Let them shop elsewhere
Used to work for a company that sells data on MedSpa facilities. It is astounding how many people use injectables and related products. Sign of the times.
In e-com, you often demand test with a fake checkout to see if there is demand. For the locations you pick for the center, do you do any such checks before committing? If so, what are some examples?
Brick and mortar is a different animal. I would say as a general rule you should have a good understanding of what demographic and economy supports your chosen business model. Seek out areas that fit that model. If there are high quality businesses that exist and thrive in that area it’s a good sign. Recon as described in the write up.
At the end of the day there is risk with everything- you can test all day. Personally I don’t lament for long after a good idea or opportunity exists - just execute and do it quickly and intelligently; and the more you do this the better you will get at it.
Can you fail? Yep.
Will you? Yep.
Did I early on? Yep.
But you keep on pushing, iterate, improve, don’t repeat mistakes.
do these treatments actually work? it seems like they're all just short-term solutions that leave the women even worse off in 6-8 months after the procedure, kind of like a drug addict who keeps coming back for more.
Yes they work. There are many clinic offerings out there we do NOT offer as the ASPS clearly states they are ineffective or are unethical. Do they require retreatment- many times yes.
I don’t know anything about this space, but I would assume GH type injections will become popular in the future for the same reasons.
Women are the top buyer, women don’t want their sons to be discriminated against in dating/career for height, isn’t a intensive surgical procedure etc.
Does GH actually work? I see small parents with very tall tween/teens (11-15 yo) in my kids school. All the parents have $$$, and their kids should be small and unathletic. But aren’t. Is GH actually a trend?
No idea. I know the height insecurity seems more pronounced nowadays, and directly ties into the loneliness theme though. So it’s targeting that pain point.
Height is more about childhood nutrition than anything imo. That’s why kids of high income immigrants tend to be way taller than their parents. Genetics didn’t magically just kick in after a generation.
I didn’t really drill down in the article. Back of envelope math for 6 months somewhere in the range of 100K-200k. This is pretty conservative as, if you can market and operate, you will grow revenue progressively.
Maybe in the future if desired. A big part of it is continuous operations in areas your influence and connection points grow. Once people know you succeed and take care of your team, quality people seek you out.
Thanks for sharing and also elaborating on the treatments. After my trip to Brazil I met a lot of people that had one or more of those done, and it made me think about the risk vs. return. Good to have a risk breakdown in addition to everything else. Good luck with your ventures!
I think it’s important to be curious about everything and never let that go. Always read and expand your understanding - few things are so complicated as to limit your ability to understand and apply/execute.
Lawyers are helpful in any business venture especially healthcare if you have the right ones ($$). Otherwise read read read and execute. This isn’t my first healthcare business.
I work directly in the space. Great article. These are luxury services. Time and time again I see practices race their prices to the bottom to be the cheapest out there, only capturing bottom of the barrel patients that look for Groupon type pricing. They will always be shopping for the cheapest. Let them shop elsewhere
Spot on. Appreciate the feedback.
Phenomenal writeup @BowTiedTiger1. I've often envisioned a med spa as my next business after biom. Cheers!
funding your brick and mortar through your eCom is the ultimate move!
Used to work for a company that sells data on MedSpa facilities. It is astounding how many people use injectables and related products. Sign of the times.
Always growing. I agree.
Digging this more technical content. Keep it coming!
Yo Tiger, incredible writeup thanks!
In e-com, you often demand test with a fake checkout to see if there is demand. For the locations you pick for the center, do you do any such checks before committing? If so, what are some examples?
Thanks
Brick and mortar is a different animal. I would say as a general rule you should have a good understanding of what demographic and economy supports your chosen business model. Seek out areas that fit that model. If there are high quality businesses that exist and thrive in that area it’s a good sign. Recon as described in the write up.
At the end of the day there is risk with everything- you can test all day. Personally I don’t lament for long after a good idea or opportunity exists - just execute and do it quickly and intelligently; and the more you do this the better you will get at it.
Can you fail? Yep.
Will you? Yep.
Did I early on? Yep.
But you keep on pushing, iterate, improve, don’t repeat mistakes.
Thanks dude!
do these treatments actually work? it seems like they're all just short-term solutions that leave the women even worse off in 6-8 months after the procedure, kind of like a drug addict who keeps coming back for more.
Yes they work. There are many clinic offerings out there we do NOT offer as the ASPS clearly states they are ineffective or are unethical. Do they require retreatment- many times yes.
But this is why the model works.
Leave them worse off? No.
I don’t know anything about this space, but I would assume GH type injections will become popular in the future for the same reasons.
Women are the top buyer, women don’t want their sons to be discriminated against in dating/career for height, isn’t a intensive surgical procedure etc.
Does GH actually work? I see small parents with very tall tween/teens (11-15 yo) in my kids school. All the parents have $$$, and their kids should be small and unathletic. But aren’t. Is GH actually a trend?
No idea. I know the height insecurity seems more pronounced nowadays, and directly ties into the loneliness theme though. So it’s targeting that pain point.
Height is more about childhood nutrition than anything imo. That’s why kids of high income immigrants tend to be way taller than their parents. Genetics didn’t magically just kick in after a generation.
It absolutely works. Study Lionel Messi.
Know multiple lux owners in Miami, they all crush. The ones expanding to selling their products e-com crushing even more
Thankyou bowtiedtiger for this!
It was really refreshing in all this airdrop fiasco.
Short term autistic opportunities are great but they leave a bad after taste for me atleast.
My pleasure. Thanks for the feedback
Thanks for sharing Tiger.
My pleasure.
The insane profits on laser hair removal is a shocker!
Great article.
Maybe I missed it in the post, but if willing to hustle, how much startup capital is needed to give yourself a decent runway? $10K? $30K? $100K?
I didn’t really drill down in the article. Back of envelope math for 6 months somewhere in the range of 100K-200k. This is pretty conservative as, if you can market and operate, you will grow revenue progressively.
Purely out-of-pocket or are you borrowing either from yourself or investors/bank? 🙌
No borrowing.
Great read. Thank you.
You have multiple BM stors and keep a day job? Need a write up on how you get quality people.
Maybe in the future if desired. A big part of it is continuous operations in areas your influence and connection points grow. Once people know you succeed and take care of your team, quality people seek you out.
Thanks for sharing and also elaborating on the treatments. After my trip to Brazil I met a lot of people that had one or more of those done, and it made me think about the risk vs. return. Good to have a risk breakdown in addition to everything else. Good luck with your ventures!
Great write up Tiger, much appreciated.
Curious how did you learn about the industry since you have many areas of focus? Any resources you can point to?
Did you have someone help you?
I currently own a IT/Cybersecurity MSP, ironically one of our target markets are dental and healthcare, might be adding medspa to the list.
Very interested in getting into this space.
I think it’s important to be curious about everything and never let that go. Always read and expand your understanding - few things are so complicated as to limit your ability to understand and apply/execute.
Lawyers are helpful in any business venture especially healthcare if you have the right ones ($$). Otherwise read read read and execute. This isn’t my first healthcare business.
Thanks for your insight. 1000% agree about staying curious and constantly learning.