Jeremy Lessaris, a seasoned entrepreneur and investor, shares insights on credit card processing fees and how aesthetic practices can cut costs effectively. He discusses the predatory nature of the processing industry and the complexities hidden in statements. Lessaris emphasizes using AI and technology to navigate these challenges, highlighting innovative solutions like VeriFee. The conversation also sheds light on the importance of partnerships in achieving financial efficiency, making it a must-listen for small and medium-sized enterprises.

Dive into the critical missteps that aesthetic practice owners often make. Discover the importance of tracking data and systems for business success. Learn why being busy doesn't equal profitability, and how investing in expertise can lead to growth. Terri Ross highlights common mistakes, like price matching and chasing the latest trends, while offering practical strategies to overcome these pitfalls. Embrace self-awareness and leverage expert help to elevate your practice to new heights!

Julie Acarregui, founder and medical director of Pure Medical Spa, shares her remarkable journey from a Registered Nurse Anesthetist to a national trainer in aesthetics. She discusses the hurdles she faced launching her business during an economic downturn and her growth into managing three locations. Julie dives into the significance of a solid compensation model for sustainability, the emotional challenges of scaling, and the value of mentorship in entrepreneurship. Her insights offer a roadmap for those navigating the aesthetic industry.

Discover the top habits that distinguish the most successful salespeople, particularly in medical aesthetics. Learn how to build lasting, meaningful relationships with clients while staying ahead of industry trends. The importance of persuasive communication and continuous education is emphasized, as is the need for a resilient mindset in the face of challenges. This engaging discussion offers actionable strategies for both newcomers and seasoned professionals, all rooted in service and growth.

In this captivating episode of In Touch with Terri, Terri Ross, delves into the increasingly pertinent subject of preparing to sell an aesthetic practice. Drawing on her wealth of experience and expertise, Terri outlines the essential strategies and considerations for owners looking to create a successful exit plan for their business. With a focus on positioning practices to attract and satisfy the rigorous requirements of private equity investors, this episode is packed with actionable advice. Terri highlights the importance of understanding key financial indicators such as EBITDA, patient conversion rates, and revenue targets that appeal to potential buyers. She also stresses the value of a well-trained, productive team and operational excellence as critical factors that influence the attractiveness of an aesthetic practice to investors. Throughout the episode, Terri interweaves fundamental business principles, such as understanding the unique value proposition, with insights into industry benchmarks and growth opportunities. Key Takeaways: Financial Preparation: Aesthetic practice owners should aim for a top-line revenue of at least $2 million and an adjusted EBITDA of $500,000 to appeal to private equity investors. Operation Analysis: Practices must be under substantial scrutiny, focusing on staff utilization, patient load, conversion rates, service diversification, and provider concentration. Team Structure: A strong, diversified team showcases a business's sustainability and is crucial for due diligence by private equity. Forward Planning: Owners should prepare for an exit strategy at least five years in advance, with a solid team including a CPA, legal team, and operational support. Data-Driven Decisions: Grasping industry benchmarks and using KPIs to make informed business decisions is imperative for growth and attracting investment. If you are ready to create change and want to learn more about APX, please visit www.apxplatform.com to schedule a discovery call. Please visit our youtube channel at: www.youtube.com/channel/UCxOkt_vcZd4lXKwcGbgMYaQ If you found this episode valuable, please share this with a friend or colleague that would benefit from listening.

Join Dr. Shitel Patel, a double board-certified plastic surgeon and founder of Lift Plastic Surgery, as he unveils the transformative power of AI in aesthetic medicine. He shares his journey in building a successful practice while embracing technology. Discover how his platform, Advital, streamlines lead management and enhances communication. Dr. Patel stresses the critical roles of accountability and process in practice management, along with the need for continuous improvement to thrive in the ever-evolving medical landscape.

About The Guest(s): Dan Schacter is the CEO of Cosmetic Physician Partners (CPP), one of the largest partnerships of med spas and plastic surgery practices in the nation. With over 30 locations, CPP's leadership team has built one of Canada's largest and highest-rated MedSpa networks, Victoria Park. Dan brings a data-driven approach to the industry and focuses on the importance of culture and people in running successful clinics. Summary: In this episode, Terri Ross interviews Dan Schacter, the CEO of Cosmetic Physician Partners (CPP), about the process of selling a med spa or plastic surgery practice. Dan shares insights on when the right time to sell might be, the factors that affect valuation, and the importance of culture and people in running a successful clinic. He also provides tips for preparing for a sale and finding the right partner. Key Takeaways: The right time to sell a practice depends on factors such as whether you're still having fun, if your business is still growing, and if you've prepared yourself for the sale. Valuation is determined by factors such as EBITDA (earnings before interest, tax, depreciation, and amortization) and the multiple applied to it. Factors that can increase valuation include having multiple providers, being located in a growing region, and having a higher percentage of med spa revenue. It's important to get your financials in order and clean up any accounting issues before a sale. Communication and community are key to running a successful clinic, and it's important to find a partner who values these aspects. If you are ready to create change and want to learn more about APX, please visit www.apxplatform.com to schedule a discovery call. Please visit our youtube channel at: www.youtube.com/channel/UCxOkt_vcZd4lXKwcGbgMYaQ If you found this episode valuable, please share this with a friend or colleague that would benefit from listening.

Summary: In this episode, Terri Ross shares seven valuable lessons she has learned throughout her entrepreneurial journey in the aesthetic space. She emphasizes the importance of adaptability, resilience, positive team culture, networking, continuous learning, time management, and work-life balance. Terri's personal experiences and insights provide valuable guidance for entrepreneurs and professionals in the industry. Key Takeaways: Lesson 1: Adaptability is crucial for success as an entrepreneur, as it allows you to navigate changing circumstances and market conditions. Lesson 2: Resilience is paramount to overcome challenges and setbacks, and it is essential to maintain a deep belief in yourself and your purpose. Lesson 3: Establishing a positive team culture is vital for building a successful organization, and it requires effective leadership, communication, and recognition of team members' contributions. Lesson 4: Networking is essential for professional growth and can open doors to new opportunities and partnerships. Lesson 5: Continuous learning is key to staying informed, acquiring new skills, and adapting to the evolving business landscape. Lesson 6: Time management is crucial for balancing work and personal life, and effective time blocking can enhance productivity and create more freedom. Lesson 7: Work-life balance is essential for personal well-being and maintaining meaningful relationships, and it is important to prioritize self-care and quality time with loved ones. If you are ready to create change and want to learn more about APX, please visit www.apxplatform.com to schedule a discovery call. Please visit our youtube channel at: www.youtube.com/channel/UCxOkt_vcZd4lXKwcGbgMYaQ If you found this episode valuable, please share this with a friend or colleague that would benefit from listening.

Terri Ross sits down with Claire Larson and Jennifer Hatton, Co-Founders of MedSpa Social to talk about a topic that is the source of a lot of anxiety among medical spa owners – how to execute a winning social media strategy. If you are like most med spa owners, you have a ton of questions about social media. On today’s podcast, Terri’s engaging interview will get you the answers you need! So tune it as you’ll want to listen to this episode to save time and money when it comes to social media! Download the MedSpa Social Channels Basics Checklist: https://inboundphotos.shootproof.com/gallery/22417081 If you are ready to create change and want to learn more about APX, please visit www.apxplatform.com to schedule a discovery call. Please visit our youtube channel at: www.youtube.com/channel/UCxOkt_vcZd4lXKwcGbgMYaQ If you found this episode valuable, please share this with a friend or colleague that would benefit from listening.

Terri Ross interviews Drew Fine, a Fractional Executive and Advisor for Get Hair MD. They discuss the non-invasive hair loss solutions offered by Get Hair MD and how it can be a profitable revenue stream for aesthetic practices. Drew shares his background in the aesthetic space and his experience working with major companies in the industry. He explains the history and business model of Get Hair MD, which focuses on licensing their suite of solutions and protocols to aesthetic practices. The goal is to create a brand new hair vertical within these practices, offering exclusive territories and marketing support. Drew highlights the target audience for Get Hair MD, which includes patients suffering from hair loss and thinning hair. He emphasizes the non-invasive nature of the treatments and the high completion rate of the protocol. Drew also discusses the training and marketing support provided by Get Hair MD, including social media advertising and influencer partnerships. The episode concludes with a call to action for interested practitioners to reach out to Drew for more information. Key Takeaways: Get Hair MD offers non-invasive hair loss solutions for aesthetic practices. The business model involves licensing the suite of solutions and protocols to practices, providing exclusive territories and marketing support. The target audience includes patients with hair loss and thinning hair, who are looking for non-invasive treatments. The protocol has a high completion rate and can be customized to fit into existing treatment offerings. Get Hair MD provides training and marketing support, including social media advertising and influencer partnerships. If you are ready to create change and want to learn more about APX, please visit apxplatform.com to schedule a discovery call. Please visit our youtube channel at: www.youtube.com/channel/UCxOkt_vcZd4lXKwcGbgMYaQIf you found this episode valuable, please share this with a friend or colleague that would benefit from listening.