When starting up a laser clinic, or even if you are a well-established business, the biggest expense you will generally encounter is the cost of laser devices you are purchasing. Some of the latest laser hair removal devices can be upwards of £70,000, which can really make a dent in your clinic budget. If only there was a way to obtain your laser equipment without the huge capital investment. Well, today we are going to answer your prayers and cover how laser rental options might be the solution you are looking for. So, whether you’re just starting up, or wanting to grow your business more rapidly, read on for our top tips for laser device rental.
With new businesses it is important to maintain a healthy cashflow rather than purely focussing on overall cost. This leaves you with a very straightforward and simple formula, your monthly profit is equal to your monthly income, minus your monthly expenditure. This gives you an idea of how well your company is doing, and how much you can afford to invest in your clinic’s growth.
Often with start-up companies maintaining a safe level of capital can become a real issue, this is intensified when specialist equipment is expensive. This reason alone is sometimes enough to stop a business in its tracks. This is where rental options can be a saviour, freeing up spare capital and allowing investment in other areas of your business.
Device rental requires you as a clinic owner to only pay a monthly sum for the laser you choose. This allows you are able to acquire a state-of-the-art laser hair removal device for a relatively small monthly fee, with no other costs. The monthly rental amount can be determined by how much you are willing to invest into your laser device per month. The best way to calculate this is to work out how many treatments you will need to complete per month in order for your machine to pay for itself – dictated by your treatment cost and usually works out to be just a few days’ worth of treatments per month. This means the rest of your month’s income from treatment can go towards other expenses, and eventually add to your profits.
Laser Device Rental for Start-up Companies
As we have mentioned, perhaps the most beneficial time to take advantage of laser device rental schemes is when you are just starting your laser clinic or currently have a small-scale business. Rental schemes can help fast-track your business on the road to success, with a multitude of benefits included with your agreement. Renting a device not only gives you flexibility with how you invest your money but will usually include a level of device servicing and possibly even a discount on consumables for your laser device. All of which are extremely useful when starting out on your laser clinic ownership journey, providing you with security and reliability when you need it most.
Can I Grow My Laser Clinic While Renting?
Yes! Renting is one of the best ways to grow your business rapidly. The easiest way to grow a business is to invest in areas which allow for a greater customer capacity, and to do this you need capital. Having money tied to equipment will limit the amount you are able to invest. Renting allows you to invest in key areas other than device acquisition.
Bank Loans vs Rental
When looking at laser device purchase options it often comes down to two options – taking out a loan or renting. But which is better? Firstly, both options require monthly payments which should be considered before making any decisions to ensure they are sustainable. Bank loans, however, incur interest throughout their duration meaning you may end up repaying far more than the worth of your laser device.
But perhaps the biggest advantage of rental when compared to taking out a loan is the additional benefits which often come with the rental agreement. These are things you would otherwise have to fund separately in order to run and maintain your laser device, here at laser we offer the follow befits with our rental schemes:
- Training for new staff (Hugely beneficial for established businesses)
- Consumable discounts for regular orders
- Seven-day support
All of which help save money in the long run and ensure you are running your laser clinic efficiently, which of course will lead to a bigger profit potential.
Areas of Investment
So, here’s what it boils down to, investing your money in more profitable ways and saving on equipment costs. As a clinic owner or aspiring clinic owner you will know there are a huge number of things that go into running a successful laser hair removal clinic. So now is the time to put you cash in the right places and take the next steps in your business growth. Lets look at a few effective ways to improve your laser clinic and its profit potentials:
- Increasing your clinic size: Let’s start with the most obvious option, a larger clinic gives you more room to grow, allowing for more laser devices and gives the potential to treat more clients at once. You should always ensure your current clinic is running well and there is an obvious need for expansion before taking this step. Increasing the size of your clinic unnecessarily risks wasting money on unused space, so plan this step carefully!
- Increasing/training staff: Depending on the size of your clinic you may have staff, so why not invest in their knowledge by giving them further training. This is one of the best ways to invest in the future of your company, and is sure to reap rewards as your company grows. If you don’t have any staff members maybe its time to employ someone? Running a clinic singlehandedly is hard work!
- Marketing: One of the most beneficial areas for investment is getting your clinic the attention it deserves. The best way to go about this is to invest in a marketing strategy. There are hundreds of ways to do this, so experiment with a few and see what works best for your business in your area.
- Expanding treatment areas: Finally, why not try branching out into more treatment areas? This could be skin care, vascular treatment, or tattoo removal devices. Offering a great number of treatments will allow you to target a larger group of potential customers.
To discuss how renting could help your laser hair removal clinic get in touch with us at Laseraid by clicking here.