"There are many challenges and barriers to entry within the cosmetic enhancement industry. This can make it very difficult to open and operate a successful cosmetic business. Competition is fierce with the continuous emergence of new entrants. These new entrants often emerge with price cutting as their entrance strategy. As a result, many businesses get caught in the “bidding war” and formulate their business strategy around pricing. Are you going to counter with a meet or beat price as your strategy?

Another challenge is the rapid evolution of technology, which is expensive to acquire and requires staff training. Often these technologies change before the investment can cover the cost, all of which leads to a big uncertainty on return on investment (ROI) and loss in profits.

Acquiring patients is becoming more expensive and in some segments patient loyalty is equivocal. There is also a continuous flow of new advertising mediums. Which one do you choose and why? Marketing is one of the largest expense items on the income statement. How do you get the best ROI?

Operating expenses are increasing almost as fast as revenues are decreasing. How do you manage these? If resources are at or near capacity then the result is inefficiency. Efficient resource utilization allows for effective planning yielding profits. The equation is simple. Financial goals are set at a multiple of the months of efficient resource utilization.

In the real world effective equipment and staff utilization requires ongoing training and a consistent flow of new and repeat patients".