Business of Aesthetics Podcast Show30 Juli 2020

Buying Smart – Buying Safe

In this week's episode Jeff Richmond shares his insight on the topic, Buying Smart- Buying Safe,which Jeff is an expert with over 2 decades of experience and how his knowledge and experience has helped his practice in their purchases and increased profits over the past years.

Key Discussion Points:

How do you choose the procedures
How to think about the investment
Cash Flow and financing or Purchase and ROI
ROI
Marketing Plans
Profits
Tax Savings
Negotiations
How to get the best deal from your rep

Key Highlights

How do you choose the procedures?
How do I buy or pick the right equipment
You need to think of your long term goals when making purchases
What is the procedure I should focus for my practice
What is my speciality what makes me & my practice unique & special
What wavelengths or what energy sources you require and look for the manufacturers who have those
Is your practice focused on Volume centric business
Are you building your practice and focused on bringing in more new patients
How to focus on more low cost high volume procedures
Are you an established practice and want to make more money and work less
How to increase per hour per room revenue
Focus on procedures which demand a higher rate
Physicians more and more have been calling information from Social Media and social Media does not validate Science.
If you are not an experienced Doctor who has manufacturer relationships and if something is not FDA cleared, don't be a pioneer.
Cash Flow and financing or Purchase and ROI
How to decide to pay for the equipment
Financing for an equipment and repayment
What is the ROI
Buying a used equipment and the risks
Equipment line of credit
Tax savings – what you need to know as a Physician
Negotiations and how to get a good deal
When negotiating with a rep, sell to them why they should give you a good deal. How they could benefit from you.
Sell the Partnership to your rep
Conclusion

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