Are you about starting a Botox clinic? If YES, here is a complete sample Botox clinic business plan template & feasibility report you can use for FREE.
If you live in the United States of America or in any part of the world, you will quite agree that a lot of people have issues with their facial outlook, and would stop at nothing to get this rectified. This goes to show that Botox clinic business is a thriving and profitable business to venture into.
Botox is a drug that is prepared from botulin, and it is used medically to treat certain muscular conditions, and cosmetically to remove wrinkles by temporarily paralyzing facial muscles. A Botox clinic provides non-medical services to clients and primarily assist them with cosmetics related surgery.
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When starting a Botox clinic, you are required to first look at the existing laws in the country or the state you reside because there is hardly any country that does not pay serious attention on their health sector. The health industry is usually highly regulated to guard against the infiltration of quacks.
You can start your Botox clinic business from a small town in the United States and if you are consistent and creative, it won’t be too long before your brand becomes nationally recognized especially if you go into franchising. Below is a sample Botox clinic business plan template that can help you to successfully write your own with little or no hassles.
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A Sample Botox Clinic Business Plan Template
1. Industry Overview
Botox clinic is under the Plastic Surgeons industry and players in this industry provide medical techniques intended to enhance physical appearance for cosmetic or reconstructive purposes. Companies consist of medical specialist clinics where licensed doctors perform surgical and non-surgical procedures.
In recent time, the demand for the services of plastic surgeons have been on the rise. The aging population and an increasingly favorable public perception of plastic surgery have been the driving force behind the recent rise in industry demand.
Despite the improving economy, the industry has been hindered by rising external competition. Competition has been especially prevalent with medical spas, which offer various nonsurgical procedures that make up a considerable and expanding portion of industry demand.
As the economy continues to improve over the five years to 2022, IBISWorld projects that revenue will continue to grow. A rise in disposable income and an aging population will be the main drivers of growth over the next five years.
As a matter of fact, available statistics shows that interests in cosmetic surgery continues to climb, as technological advancements make industry services more accessible, more affordable and safer. Cosmetic surgery is no longer reserved for the wealthy or famous.
Most cities in the United States are home to plastic surgery centers, offering body contouring procedures, such as liposuction and breast augmentation; facial rejuvenation, such as eyelid surgery and chin and cheek implants; laser hair removal; and other enhancement procedures. The number of cosmetic surgery procedures performed in the United States has continued to grow over the past five years, fueled by strong economic growth.
Statistics has it that the Plastic Surgeons industry in the United States of America is worth $16bn, with an estimated growth rate of 6.6 percent within 2012 and 2017. There are about 7,660 registered and licensed plastic surgery cum Botox clinics in the United States and they are responsible for employing about 50,606 people. Please note that no single establishment can boast of having the lion share of the available market in this industry; there is fair competition in the industry.
If you are considering starting your own Botox clinic in the United States, then you should try and work around industry barriers. Any investor who is looking towards starting a Botox clinic must meet the required federal, state and local laws and regulations and some of the factors that encourage entrepreneurs to start their own botox clinic business could be that the business can easily get support from the government and the business is indeed a profitable venture despite the competition in the industry.
2. Executive Summary
Clara Jean Whyte® Botox ClinicLos Angeles
Clara Jean Whyte® Botox Clinic, Inc. is going to become the most preferred Botox clinic in the whole of Los Angeles and we will work hard to build our botox clinic to meet the needs of the average client in and around our city. Clara Jean Whyte® Botox Clinic, Inc. will provide services such as injectables, laser hair removal, microdermabrasion, chemical peel, breast augmentations and reductions, liposuction and other cosmetics surgeries.
We are in the industry to deliver excellent cosmetics surgery services to all those who will patronize our services. We will also ensure that in the line of carrying out our duty, we comply with the laws and health regulations in California and the United States.
We conducted a thorough research and feasibility studies and we were able to come to the conclusion that Los Angeles – California is the right place to start our botox clinic. As a matter of fact, our major aim of starting Clara Jean Whyte® Botox Clinic, Inc. is to make cosmetic surgery accessible to the average person who is interested.
Clara Jean Whyte® Botox Clinic, Inc. will be open 24 hours in a day during weekends (Fridays to Sundays) and from 6:00 am to 12 midnight from Mondays to Thursdays in order for us to accommodate people with different time preference. This is why we have made provisions to recruit enough staff and to run shift amongst our workforce.
Clara Jean Whyte® Botox Clinic, Inc. is a family owned business. The business will be managed by Clara Jean Whyte; she is a qualified Surgeon with over 15 years experience as a leading plastic surgeon in the United States of America.
3. Our Products and Services
Clara Jean Whyte® Botox ClinicLos Angeles
- Administering injectables and humectants (including Botox and Restalyne)
- Performing laser hair removal
- Performing microdermabrasion
- Performing chemical peels
4. Our Mission and Vision Statement
- Our vision is to become the number one choice when it comes to botox in the whole of Los Angeles – California and also to be amongst the top 10 botox clinics in the United States of America within the next 10 years.
- Clara Jean Whyte® Botox Clinic, Inc. plans to establish a first – class botox clinic that will take care of both highly placed and lowly placed clients as long as they can afford our services. We want to become one of the leaders in the botox services line of business in California.
Our Business Structure
Clara Jean Whyte® Botox Clinic, Inc. plans to become the leading botox clinic in the whole of Los Angeles and we are fully aware that it will take the right facility, management and organizational structure to achieve our goal.
Our business will not be built only for the purpose of giving our customers value for their money, but also to make our work environment highly conducive for all our employees. We will provide them with facilities that will help them stay motivated and deliver on their various tasks and goals et al.
We have made provisions for the following positions to be occupied by highly qualified and experienced staff;
- Chief Plastic Surgeon (Owner)
- Cosmetic Surgeons
- Nurses
- Human Resources and Admin Manage
- Accountant/Cashier
- Marketing and Sales Officer
- Front Desk /Customer Services Officer
- Cleaners
5. Job Roles and Responsibilities
Chief Plastic SurgeonOwner
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, appraising job results and developing incentives
- Responsible for fixing prices and signing business deals
- Provides direction for the business
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
Cosmetic Surgeons
- Responsible for handling core services such as administering injectables and humectants (including Botox and Restalyne), performing laser hair removal, performing microdermabrasion, performing chemical peels
- Responsible for evaluating, researching, and providing advice
- Provides timely information and support on injury prevention, technique analysis, and nutrition.
Nurses
- Responsible for managing our patients
- Handles personal injury case management
- Responsible for offering medication management services
- Assists the cosmetic surgeons in treating patients and carrying out surgeries
Marketing and Sales Officer (2)
- Identify, prioritize, and reach out to new clients, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts
- Responsible for handling business research, market surveys and feasibility studies
- Documents all customer contact and information
- Represents the organization in strategic meetings
- Helps to increase sales and growth for the organization.
Accountant/Cashier:
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for the organization
- Responsible for developing and managing financial systems and policies
- Administers payroll
- Ensures compliance with taxation legislation
- Handles all financial transactions for the organization
- Serves as internal auditor for the organization.
Client Service Executive
- Welcomes clients and potential clients by greeting them in person or on the telephone; answering or directing inquiries.
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the chief executive officer in an effective and timely manner
- Consistently stays abreast of any new information on the organizations’ services, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries.
Cleaners:
- Responsible for cleaning the wards and clinic facility at all times
- Ensures that toiletries and supplies don’t run out of stock
- Handles any other duty as assigned by the admin and HR manager.
6. SWOT Analysis
Clara Jean Whyte® Botox Cliniccosmetics surgeries
We know that if we get things right before starting our botox clinic, we will not have to struggle before attracting clients and building our clientele base to a level where we can easily breakeven. We hired the services of a HR and Business consultant with bias in business structuring to help us conduct SWOT analysis for our company and he did a pretty good job for us.
Here is a of the result we got from the SWOT analysis that was conducted on behalf of Clara Jean Whyte® Botox Clinic, Inc.;
- Strength:
One of the obvious strengths that will definitely stand as a plus for Clara Jean Whyte® Botox Clinic, Inc. is the fact that our facility is centrally located in Los Angeles – California; our location is in fact one of our major strength. We equally have a team of highly qualified professionals.
- Weakness:
We critically looked into our Business model and we were able to identify two major weaknesses. One is the fact that we are a new business and the second is the fact that we may not have the financial resources required to match up with existing botox clinics in Los Angeles – California.
- Opportunities:
The opportunities available to players in this industry is that operators are expected to benefit from increasing regulation among competing industries. Although industry margins have grown, an increase in competition has slowed the rate of industry expansion, and also an increase in the number of obesity-related surgical procedures is expected to take place during the period.
We are centrally located in an area with the right demographic composition and we are open to all the available opportunities that the city has to offer. We will be open 24 hours in a day during weekends (Fridays to Sundays) and from 6:00 am to 12 midnights from Mondays to Thursdays giving us the advantage to leverage on any available opportunity.
- Threat:
Some of the threats that are likely going to confront Clara Jean Whyte® Botox Clinic, Inc. are unfavorable government policies, demographic/social factors, downturn in the economy which is likely going to affect consumers spending, and lastly the emergence of new competitors within the same location.
7. MARKET ANALYSIS
- Market Trends
The Plastic Surgeons industry has indeed benefited from recent marketing campaigns which are targeted towards helping people look good even when they are aging, as well as consumer trends toward transgender. Going forward, many people who are part of the baby boomers’ generation are expected to leverage on botox services, as they become more beauty – conscious as they grow older.
The trend is such that if a botox clinic is well position in a residential area or a place where people can easily access without much stress, there is the likelihood that the clinic will enjoy high patronage.
The botox cum cosmetics surgery services industry has recently begun consolidating, largely due to the pressures of healthcare reform. The truth is that the demand for specialist healthcare services has steadily grown over the last five years, as healthcare reform legislation broadened insurance coverage and the plummeting unemployment rate increased disposable income.
As an investor in the botox business, in order to maintain an advantaged position in this competitive industry, you should source for the most skilled professionals. Just like in other business ventures, the owners of botox clinics are always looking for ways to increase their market share; and they go as far as signing deals with hospitals and other medical facilities.
It is common trend that as a botox clinic grows, it becomes necessary for them to develop new service offerings or install new facilities that will help them attract more people. Little wonder some botox clinic now retail cosmetic products within their facility. In order words, it is very important for botox clinics to continue to improvise if they want to grow their business and generate their target revenues.
8. Our Target Market
The target market for botox clinics cuts across people of different walks of life. The target market for weight loss clinic can be categorized into two groups. The first group are people who are looking towards correcting what they perceive as unpleasant in their body and the last group are those who due to accident would want to correct defects as a result of the accident.
Clara Jean Whyte® Botox Clinic, Inc. will work towards providing services, facilities and environment that will help us reach out to our target market. These are the category of people that we intend marketing our botox services to;
- Working Class Adults/Corporate Executives
- Kids
- Business People / Entrepreneurs
- Government Officials
- Celebrities
- Public Figures
- Sports Men and Women
- College Students
Our competitive advantage
It is a fact that the botox industry is indeed a highly competitive industry. We have a team of highly qualified professionals (cosmetics surgeons) who will work with all our clients to achieve their aims of patronizing our services.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups botox clinics in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Clara Jean Whyte® Botox Clinic
- Administering injectables and humectants (including Botox and Restalyne)
- Performing laser hair removal
- Performing microdermabrasion
- Performing chemical peels
10. Sales Forecast
It is important to state that our sales forecast is based on the data gathered during our feasibility studies and also some of the assumptions readily available on the field.
It would be hard to create a sales forecast with a newly opened business because the statistics that will be provided will be on a short – term basis. Experts say that a business should be in operation for at least one year before they can generate the statistics that will help in accurately forecasting the trends and patterns in consumer spending.
We expect to attend to about 130 people within our first year of operation and then in subsequent years we will grow our clientele base. Below are the sales projection for Lance Morgan® Weight Loss Clinic, Inc., it is based on the location of our facility and the services that we will be offering to our clients.
- First Year: $450,000
- Second Year: $950,000
- Third Year: $2 Million
N.B: This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major competitor offering same services as we do within 5.0 miles’ radius from the location of our weight loss clinic facility.
- Marketing and Sales Strategy
The truth is that all that we do will be geared towards creating new market channels, increasing sales and our market share. We will leverage on improving our services and facility to ensure that we win new clients and retain old clients.
At Clara Jean Whyte® Botox Clinic, Inc., our marketing strategies will be consistent throughout the marketing mix and we will take into consideration product improvement, promotion, and price. Our unique selling proposition is that we are well positioned and people can easily access our facility, our prices are affordable and we have a complete package for groups. Part of the marketing and sales strategies that we will adopt are;
- Advertise our botox clinic on national dailies, local TV and local radio station
- Promote our botox clinic online via our official website and all available social media platforms
- Introduce our botox clinic and the services we offer by sending introductory letters alongside our brochure to households and key stake holders in and around Los Angeles – California
- Print out fliers and business cards and strategically drop them in offices, libraries, public facilities, train stations et al.
- Delivering consistent customer experience to all our clients; making our first impression count positively to those making use of our botox clinic for the first time
- Make use of attractive hand bills to create awareness and also to give direction to our botox clinic
- Adopt direct mailing coupon marketing approach
- Position our signage/flexi banners at strategic places.
11. Publicity and Advertising Strategy
We have been able to work with our branding and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to become the number one choice in the whole of Los Angeles – California which is why we have made provisions for effective publicity and advertisement of our botox clinic and the services we offer.
Below are the platforms we intend to leverage on to promote and advertise Clara Jean Whyte® Botox Clinic, Inc.;
- Place adverts on both print (community based newspapers and magazines) and electronic media platforms
- Sponsor relevant community based events
- Leverage on the internet and social media platforms like Instagram, Facebook, twitter, YouTube, Google + et al to promote our brand
- Install our billboards in strategic locations all around Los Angeles – California
- Distribute our fliers and handbills in target areas
- List Clara Jean Whyte® Botox Clinic, Inc. in local directories/yellow pages
- Advertise our botox clinic and the services we offer in our official website and employ strategies that will help us pull traffic to the site.
- Ensure that all our staff members wear our branded shirts and all our vehicles are branded with our corporate logo.
12. Our Pricing Strategy
Our pricing system is going to be based on what is obtainable in the industry, we don’t intend to charge more (except for premium services) and we don’t intend to charge less than what our competitors are charging their clients in Los Angeles – California.
Be that as it may, we have put plans in place to offer discount services once in a while and also to reward our loyal customers especially when they refer clients to us.
- Payment Options
The payment policy adopted by Clara Jean Whyte® Botox Clinic, Inc. is all – inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Clara Jean Whyte® Botox Clinic, Inc. will make available to her clients;
- Payment with cash
- Payment via credit cards
- Payment via online bank transfer
- Payment via check
- Payment via mobile money transfer
In view of the above, we have chosen banking platforms that will enable our clients make payment for services rendered without any stress on their part.
13. Startup Expenditure (Budget)
In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting/leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be productive.
The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. These are the key areas where we will spend our startup capital on;
- The total fee for registering the business in the United States of America – $750.
- Legal expenses for obtaining licenses and permits – $1,500.
- Marketing promotion expenses (8,000 flyers at $0.04 per copy) for the total amount of $10,000.
- The cost for hiring Consultant – $5,000.
- Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $30,800.
- The cost of accounting software, CRM software and Payroll Software – $3,000
- The cost for leasing facility for the botox clinic – $180,000.
- The cost for facility remodeling – $50,000.
- Other start-up expenses including stationery – $1000
- Phone and utility deposits – $3,500
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $40,000
- The cost for start-up inventory – $15,000
- The cost for acquiring supplies and equipment – $400,000
- The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al) – $4,000.
- The cost of launching a website – $600
- Miscellaneous – $5,000
We would need an estimate of $1.5 million to successfully launch a standard botox clinic in Los Angeles – California. It is important to state that the testing and evaluating expenses would be high because of the amount of equipment needed to start up a botox clinic.
Generating Startup Capital for Clara Jean Whyte® Botox Clinic, Inc.
Clara Jean Whyte® Botox Clinic, Inc. is owned by Dr. Clara Jean – Whyte and her immediate family members. They are the sole financiers of the business which is why they decided to restrict the sourcing of the startup capital for the business to just three major sources.
These are the areas we intend generating our startup capital;
- Generate part of the startup capital from personal savings and sale of stocks
- Generate part of the startup capital from friends and other extended family members
- Generate a larger chunk of the startup capital from the bank.
N.B: We have been able to generate about $500,000 (Personal savings $350,000 and soft loan from family members $150,000) and we are at the final stages of obtaining a loan facility of $1 Million from our bank. All the papers and document have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. Sustainability and Expansion Strategy
The future of a business lies in the number of loyal customers they have, the capacity and competence of their employees, their investment strategy and business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.
One of our major goals of starting Clara Jean Whyte® Botox Clinic, Inc. is to build a business that will survive off its own cash flow without injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to ensure that we offer our botox services a little bit cheaper than what is obtainable in the industry.
Clara Jean Whyte® Botox Clinic, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.
We know that if all that is put in place, we will be able to hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List/Milestone
- Business Name Availability Check: Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Acquiring facility and remodeling the facility: In Progress
- Conducting Feasibility Studies: Completed
- Generating capital from family members: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Printing of Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of botox supplies and equipment, electronic appliances, office appliances and suppliers: In progress
- Creating Official Website for the Company: Completed
- Creating Awareness for the business both online and in the neighborhood: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
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