Set Your Practice Apart from the Competition with a Branded Skincare Line
- Posted on: Jan 19 2022
While selling a popular skincare brand in the office can create a revenue stream for aesthetic practices, it’s more likely that practices that have their names and not another company’s name on those products, will reap other bottom-line benefits, like patient loyalty, repeat business and greater name recognition.
I like to recommend starting out with a hero product, a single product or ingredient you love. The margins are amazing on custom branded products and there are several ways to do this. The least expensive option, a white label product is when you put your own name on a product that already exists. Private branded, a slightly more expensive option, is the same but allows you to tweak some formulas. Then there is the more expensive option, taking your products to the next level, where you custom-formulate your own products.
However, doctors shouldn’t promote or create a skin care line just because they think they should. Rather, they should align with ingredients and products they believe in and that are extensions of services they enjoy performing in practice.
As an established specialist your name has become your brand. An investment in Private Labeling is a logical extension of your practice’s offerings and one of the hottest and most obvious revenue sources in the business.*
You need to have a story. You need to have a mission statement and you need to back up your brand. Rather than just making another generic Vitamin C serum, we like to do research with our doctors on key ingredients. We look for the newest ingredients along with those that are tried and true. We’ll look at what’s going on overseas and in Europe. We also favor products that have testing behind them.
When branding your products, you should pay close attention to how they’re bottled and packaged. Obviously, the aesthetics business is very aesthetic-oriented, so if the bottle is really pretty, sleek or has a sexy high-end look to it, you can usually charge more money for it.
You can also bundle your branded products into services you offer. If you sell facial skin care products, you might bundle a month’s worth into facial laser or peel procedures as pre- and post-treatment care.
Your branded skincare business that starts small can become big. Some practices are so successful with their branded lines that they patent the formulas and sell them internationally. There’s no limit to your success!
*From “Beautifully Profitable, Forever Profitable,” by Cheryl Whitman, Page 158
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