What is the task?
To create their branding, web site and other marketing material required to start their business and present their business concepts to an audience which included industry experts from each of the business sectors and Lord Sugar.
Louisa and Leah will create their businesses with the assistance of the previously fired candidates.
Selecting a good team is essential to success in any business venture and it will be interesting to see who is selected by the finalists. Will the finalist select team players or the I’s individuals who do not work well in teams. Remember “there is no I in TEAM”.
Finding the right team can be difficult and Leah will have a limited choice and may have to work with individuals, who were previously difficult to manage and disruptive to the team.
Team selection, organizational skills and leadership skills will be essential to this task . Also with a larger team , communication and identifying team role is critical to the final outcome. Throughout the previous shows, the candidates should be improving on all of the mentioned skills and tonight we will see who picked up the most while competing in this process.
Leah vs Louisa the Apprentice Final
The two business plans are very different.
The medical aesthetics business is unique in many way. The procedures can be done in one’s lunch hour similar to the beauty industry. it is commercially driven and involves minimally invasive medical procedures with little to no risk if processes are followed. To date, very little claims are associated with this industry unless the clinician is poorly trained and provides poor treatment while charging top price. Many doctors can run successful and sustainable medical aesthetic businesses but the doctor must possess management and leadership skills since he/she will oversee the business and not a practice manager.
The Profit Margins for Cosmetic Treatments
The advantage for Leah is that the profit margins on the treatments are excellent. if Leah treats 10 patients in one day and schedules patients every 20-30 minutes depending on the treatment required the profit are as follows:
I standard Muscle Relaxant Treatment at a price of £350 netting £250 profit/half hour will generate approximately £500/hour. Repeat customers are quicker to treat increasing the hourly profitability by 50%.
Dermal Fillers provides similar profitability.
Chemical peels provide less profit if provided by the clinician but an aesthetician can carry out this treatment which will result in the clinician earning £60/5 minutes work. The gross margin on peels is approximately 95%. Peels are as popular as Muscle Relaxants.
The profitability is far more than Louisa’s products.
Which Business would you choose?
It will be a very interesting final and we wish both candidates the best for the future.
What about the Full Financial Potential of the Cosmetic Business Plan?
We will be posting more information about cosmetic business plans and developing a successful cosmetic clinic please subscribe at the foot of the page to receive notification of the updates.
Do you need assistance with your cosmetic business?
KT Solutions provide a consulting service which specialises in the medical aesthetic niche sector. The consultants led by Ms. Yasmin Khan will assist with business start-up for any small, medium and large cosmetic clinics.
