Inside Aesthetics

Babak Moini - 'The global economical crisis & it's impact on aesthetics' #185

Oct 20, 2022

01:12:52

Episode 185 hosts Babak Moini, co-founder of Laser Clinics Australia. Babak previously joined us back in episodes 45 and 59, where he shared his story and his predictions for what the COVID-crisis would mean for aesthetic businesses.

Two years on, we reflect on the post-COVID era and the current as well as predicted global economic crisis that is looming.

We explore:

Babak's current view of the Australian aesthetic market
Some of the key trends that have emerged since our last podcast

We then discuss the financial issues including:

Whether the predictions he made in April 2020 were right, wrong or are simply delayed and still going to happen
The post-COVID demand for injectables and what this showed about the resilience of the market
What our governments did to cope during COVID and the hang over effects of these including:

- stimulus payments and printing money to fund it

- borrowing more money, increasing national debt

- the effect of lockdowns & stimulus payments on the labour force

- why this has caused hyperinflation, climbing interest rates and the implications of these problems

We then brainstorm some countermeasures that clinics can take including:

How to audit your business and better understand your margins and profitability
How to improve cash flow
How to negotiate with suppliers
Managing debt

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