Business
Business Analysis
Assess current business operations, which may include: front desk operations, scheduling processes and software, job descriptions per department, employee policy, employee performance reviews, compensation packages, retail and service sales history, profit and loss statements, business plan, existing benchmarks and revenue goals, product and equipment selections, menu of services and protocols, competitive service pricing, adequate staffing, employee manual and required documentation, treatment documentation, advertising, budget analysis, marketing strategies and promotions.
Business Planning
It is essential to have a strategy in place before opening your practice. Business plans boil down to operating the practice on paper. The aim is to validate an idea and challenge every aspect of the business. A business plan is a written presentation that carefully explains the business, its management team, its products or services, and its goals, together with strategies for reaching the goals. Our team will assist you in structuring a viable business plan describing your target markets, financials, marketing and sales strategies, the competition, and start-up costs
Compensation Packages
Review current payroll policies. Determine if existing pay structures are effective for each department. Some recommendations: retail commission paid once monthly on a tiered scale based on performance, hourly and commission recommended for aestheticians, direct deposit, etc. Implement bonus program to encourage sales with staff.
Inventory
Review inventory and order history. Create inventory checklist for each department itemizing backbar and office supplies, initiate set dates for inventory requests. Retail inventory depends largely on volume of sales. Quantity should be kept at 3 times the volume sold the month prior.
Esthetic Policy & Mission Statement
Suggest a detailed policy and a mission statement that identify your company policy, itemizing return requirements, gift certificates, package/treatment reimbursement, etc. Detail is preferred and should be implemented in website, brochures, and front desk.
Employee Policy/Regulations/Appraisal Program
The following are available: job descriptions and duties per department, detailed Employee Manual, Employee Regulations, Non-Compete Agreements, and Employee Appraisal Program for each staff member.
Time Management
This is always a concern with every business-TIME IS MONEY. If procedures are set into a place for each department to service all incoming appointments, treatments, inventory, office tasks, etc.
Equipment Selection and Price Negotiations
16 years in the professional skincare industry, in outside sales, national management and distribution has afforded our team access to many medical skincare companies, and some Laser companies and the ability to negotiate superior pricing, leasing options and warranty/service contracts for our clients.
Location, Design and Build Out: Location! Location! Location! The location, layout and functionality of your practice are essential to its profitability. Choate will help you in find the most appealing space for your facility; we work with several Interior Design Firms, Architects and General Contractors to create a space that is alluring and stunning while maximizing space and enabling efficient business operations.
