Inside Aesthetics Babak Moini- 'An assessment of the Australian chain clinics' #207
Episode 207 hosts Babak Moini, the founder of Laser Clinics Australia (LCA).
LCA started in 2008 and have become the world's largest aesthetic and skin chain of clinics with over 200 locations in Australia, Singapore, UK and Canada. Since then, numerous other competitor chain clinic brands have competed with each other for the same demographic of patients (including Silk Laser Clinics, Evolution Clinics, Australian Skin Clinics, Clear Complexion Clinics and several other brands) The universal feature of the chain clinics includes offering discounted and high volume treatments, often in high foot traffic locations and shopping malls.
Babak sold his final shares in LCA in 2017 and has observed from the sidelines how the aesthetic chain clinic model that he started has evolved. We discuss:
- Babak's backstory and how LCA came to be
- His assessment of the current strategy of his previous company LCA
- His opinions on the franchisor vs franchisee relationship
- His views on why adding additional services to an aesthetic clinic can be problematic
- How discounted prices have not kept up with inflation
- Quantity vs quality - the potential issue with discounting aesthetic treatments
- His assessment of the proposed acquistion of Silk by Westfarmers' API
- How the new proposed regulations by AHPRA may impact aesthetic clinics and injectors
- His top tips to make your clinic more agile in difficult economic times
- His predications about the Australian macro-economy for the near future
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