Statistics show that the beauty industry is expected to grow by 25% in the year 2020; this makes it the fastest growing industry more than any other occupation. If you’re an entrepreneur and a medical graduate, this might be the perfect investment for you. The odds are right, and you can make a fortune in the business. The basic requirements are love and passion for the work, but besides that, there are other several factors that you will need to consider in order to be successful in your quest.
Well, if you’re a Singaporean who is looking to open up your beauty aesthetic clinic, then you are at the right place. We outline to you some of the tips for starting your own aesthetic clinic. Read on!
For you to become skilled in the different specializations of the beauty industry, you need to be trained. You are required by the law to undergo training in the services that you are planning to provide. The services are inclusive of laser treatments and facial pigmentation. This will then see you get awarded with an aesthetic license.
Some of these programs are covered and offered by the Federal Student financial aid. You will be awarded grants and loans that you’ll use to pay for your tuition fees.
Next in line is the professional license. It is a must that you have a license for you to operate an aesthetic clinic. This is acquired from the relevant authorities. Acquiring the license is a process and might require you to undergo tests, both practical and written, and also pay a testing and licensing fees. Some states will also require to register with the board of medication.
Apart from the legal requirement, having a license will boost the confidence of your patients. This is because the license implies that you have been trained and are legally allowed to be in operation. Most patients will always look for licensing as a requirement when choosing the best aesthetic clinics to go to.
On top of the professional license, you will also be required to have a business permit for you to operate the business. The permit is for taxation purposes. It is important to note that the fees for sole proprietors are lower than partnerships. You might, therefore, consider starting as a sole proprietor to cut out on the costs.
Other factors that you should consider is the location of the business, equipment to be used and the areas of specialization. All these factors are important in determining the success of your business. A good location is translated to many customers. The right equipment is used to provide exemplary services.
In order to have all these factors at hand, it is important to have a good business plan that will outline everything. A good business plan keeps track of everything and helps you avoid the common pitfalls. If you follow everything to the latter, then you’re bound to be successful.