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🎯 BoomerangFX Tip of the Week #33
Welcome back to Dr. Stephen Mulholland’s Tip of the Week! This week, we’re diving deeper into pricing strategies for your Medspa or clinic — focusing on the Net Profitability Model. 💡
If you’re looking to elevate your business, here’s the breakdown:
✔️ Analyze every product or service you offer — Botox, fillers, lasers, energy-based devices like Morpheus8, Evolve, or Evoke.
✔️ Factor in cost of goods and services (COGS), hourly operational costs, and SG&A expenses (like rent, utilities, insurance, and equipment depreciation).
✔️ Calculate your desired gross income and work backward to set the ideal product price per hour.
✔️ Ensure your pricing aligns with your value proposition: Are you a luxury provider, hybrid, or a cost leader?This model is a more sophisticated approach that helps both new and seasoned businesses understand their true costs and profitability. Even if you’re just starting out, this framework provides the roadmap to grow sustainably and negotiate smartly with vendors.
💬 Ready to level up your pricing strategy? Join us on BoomerangFX Learn for more expert insights!
👉 Subscribe now and catch the next episode on e-Academy