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Business of Aesthetics Podcast Show

Jul 30, 2020

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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