Cameron Hemphill, host of the “Medical Millionaire” podcast, discusses strategies for scaling a medical spa from one to multiple locations. He emphasizes the importance of stabilization, where a practice has consistent revenue, team size, and margins. Hemphill highlights challenges such as managing inventory, staff, and technology across multiple locations. He advises against having separate websites for each location, recommending a single website with multiple Google My Business accounts for localization. He also suggests using QuickBooks classes to track profitability per location. Hemphill encourages resilience and innovation to overcome discomfort and achieve growth.

Transcript

This is medical millionaire the podcast, helping your Med Spa increase in status, visibility and profitability. Join your host as he dispels myths, shares trends and gives you actionable steps today that will take your medical practice to the next level. Here’s your host, expert marketer and founder of growth 99 Cameron
Hemphill,
hey everybody. Cameron Hemphill, here your host for medical millionaire. Hey, first off, thank you so much for taking the time to tune into our podcast. Our goal is to give incredible insight and value into the medical spa market. So if you’re an injector, you’re in the esthetic space, cosmetic space. This podcast is for you. We dive into business, we dive into mindset, we dive into tools, technology, digital marketing. And we have worked with some of the top key performers in the medical esthetic space for years, all over the United States, in Canada, United Kingdom, and we really want to bring value to you. So wherever you’re at within this journey, whether you’re thinking about opening up a practice, if you have a practice, and trying to figure out how to scale, if you’re trying to go from one location to two locations to multiple locations, this podcast is for you. And so as we’re talking with owners in this space, there’s practitioners and medical doctors and medical directors in that case as well. We really want to focus on, okay, which clinics are performing and why are they performing. And then we want to incubate that data internally, have conversations about it, and then also, which other clinics are not doing so well, and why, right? So we really have these conversations internally, and then we push this content out to really help you with your journey and your past. So what I want to get into today, actually, is this is exciting, and I want to talk about going from one location to two locations, to three to four to five to six to seven and eight, and how to do that, and how to accomplish that, right? So let’s say that you have successfully opened up your practice, and you’ve been in business for a year, you’ve been in business for two years, and you’ve seen revenues grow. You face a tremendous amount of challenges. First off within starting your practice right. You had to find a location, you had to find people, you had to find the right vendors, you had to buy product, maybe you even had to get a loan. You’ve had to do a build out, you’ve had to build a website, you’ve had to run ads, you’ve had to build up a social media. I mean, you’ve probably gone to networking events, conferences, like it’s insane, if you just look back through memory lane on everything that you’ve gone through and everything you’ve experienced, to get to where you are now, right? And as you build your practice in your business, you get to a point of stabilization, okay? And as you get to a point of stabilization, what that means is you have figured out how to scale to a certain level. You’ve hired good people that can basically run the practice without you on some level of tasks. Right? Maybe that’s not every single task, but you’ve figured out how to delegate certain activities that you were doing early on, right? If you look back when you first started your practice, you are wearing every hat, finances, social media, website, clients, accounting, I mean everything, like appointments, buying product, ordering product, reordering product, going to the conference. How am I going to go to the conference when I’m booked and busy, right? So you’ve come these challenges. Have faced you, and I know everybody can relate. Okay? I’ve been there, obviously, I don’t want to practice, and I’ve never been, you know, an injector, but I’ve had business historical events where I’ve worn every single hat, right? And so I can understand and relate. And as we’re talking to, you know, medical spa owners, we understand their challenges, right? And so now you’ve gotten to the spot of stabilization, and let’s talk about stabilization. What does that mean? Because that can mean different things for different people in different levels, right? And so stabilization, in my opinion, means that you figured out how to project and forecast revenues. You know exactly how many people you need on your team. You know exactly how many appointments you have. You know what your margins are. You know what your top line revenue is. You can project your top line revenue for the next at least 90 days, and you can project your bottom line revenue because at least at this point in time, you’ve probably filed taxes. Okay, so that’s to the point of stabilization. Well, most businesses, first and foremost, fail. Before they get to stabilization, they fail. I think the statistic is over 90% of new businesses fail. Don’t quote me on that, but I know that number is very, very high, and I know it’s moved over the years. So most businesses fail, most. People get burnt out. Most people don’t understand how to run a business. Most people get into this thinking that everybody’s making money, and if you have an Instagram all of a sudden you’re making money. Not true. It takes a tremendous amount of hard work, resiliency, continued grind, understanding your why, and just crank right like the bad days will happen. The good days will come, the bad days will happen. So every single win will pull you back down with a loss. And you have to understand that that’s just part of the game, right? Sometimes I’ll joke with my wife, and she’s, how was your work day? I was like, Oh, the video game was fun today. Like, sometimes I feel like I’m playing an adult video game and it’s just constantly maneuvering and angling and bunch of stuff going on, right? So as you’ve, as you’ve basically completed stabilization. This is a very big achievement, very big achievement. The problem is, is most businesses stay at stabilization. They stay there, right? And so let’s say that you get to a point where you’re doing 100 grand a month, 1.2 million a year in revenues. Let’s just make numbers easy, a million a year in revenues. Okay, most businesses, north of 90% stay at stabilization. Well, why do they stay at stabilization? For one, they start to feel comfortable, so they retract and they stop innovating. Number two is, everybody is just seems happy, and they’re going about life, and it’s, it’s all good, and it’s, it’s working. And why, you know, disrupt something that’s working. Well, if you want to get to the point past stabilization, you’re then going to have to get uncomfortable again, and a lot of people don’t like being uncomfortable. So if you get if you can again get comfortable being uncomfortable, it’s going to help you grow. So if you’re trying to go from one location to two locations to 10 locations, right, you’re going to have to figure out a strategy, and your current strategy maybe not be able to scale, because you may have the wrong tools, the wrong people, the right processes, and the wrong specific business plan and model that’s not built to scale. So if you want to get to multiple locations, you have to have the same tools, you have to have the same processes, you have to also understand that you’re going to have to go back to the drawing board and maybe migrate from certain tools, migrate from certain vendors, go to some different conferences, maybe outside of the medical spa market conferences, some of The most successful practice owners I talk to join business mastermind groups, because they want to understand how to run their practice like a business and how to scale.
Thank you for listening to medical millionaire. I wanted to take just a few short moments and tell you all about growth. 99 University, naturally, if you’re listening to medical millionaire, the success of your Med Spa is extremely important to you, and as it should be. And if you’re listening to medical millionaire, you are obviously looking for the best, most effective ways to take your Med Spa to the next level in both profit and customer success. Enter growth 99 University ranging from online education courses all the way to the full suite of marketing and web services. Growth, 99 has your Med Spa covered. No matter the challenges that you’re facing, we are ready and able to help you achieve your next level in business profit and freedom to inquire about all of our support services and products. Please visit growth 90 nine.com and while you’re there, click the university link and check out the companion course to this very podcast. Back to the show.
And maybe scaling is not for you. Maybe having multiple, you know, locations is not for you, and that’s totally fine. It’s not that you have to, but if you want to, you have to go back to the drawing board. You have to identify what tools do I have in place? Is this scalable? Is the EMR solution I’m currently using, built for multi clinic, multi provider. Can it run payroll? Can it run commissions? Is it all calculated? Can my CPA manage multiple locations? How do I get two locations on the internet? Do I have one website? Do I have two websites? Do I have one Google, my business? Do I have two How does it, how does the reviews work? How does the mapping work, right, so how does the credit card processing work? Right? So all of these things, you basically have to go back to the drawing board. I would suggest, literally going to the whiteboard, pulling out that old, you know, pen, and having a really good internal conversation with your. Yourself and how you’re going to do this, and having conversations with other people where they have gone from one location to two to three to four to five. How did they do it? What challenges did they face? What technology are they using to accomplish this? Right? Because one location you can have, you know, a one website. You’re running Facebook ads, you’re running Google ads, you’re running whatever you’re doing, you have your Instagram, you have your process defined of stabilization. Well, now you’re going to have all these new conversations. Also, you can’t be at two places at one time, right? You physically can’t be so how are both locations going to be profitable? How are you going to order a product to have it go to one location versus the other location? How are you going to manage the inventory? How are you going to manage going to manage your retail? How are you going to manage all your other injectors and all your other estheticians? Right? How are you going to be accountable? Like, how are you going to manage them that they’re actually there, clocking in and clocking out and then managing you can have a an office manager that’s at one location, where they can’t be at two locations. So now you have to have an office manager. Office Manager manager, basically that manages both the office managers, right? So it’s, it’s super important that instead of just jumping into the next location, make sure you have really good stabilization, you understand what your single location forecast top line and bottom line revenues are. You know what your margins are. You know exactly how many appointments you have to have in order to hit those margins. And you want to know exactly like what your ticket is, right? So once you have that, then it can be duplicated, okay? And your biggest challenge is going to be people. Obviously, location is super important, but the biggest challenge is going to be people. Okay? I’m going to give you a little bit of insight into the digital marketing component of this, because that’s our core competency. But a little bit of insight, never have two websites, always have one single website. Just because you open up a different location does not mean you have a different website. This is a big problem. I’ve seen it happen over the years. One website. You’re going to need multiple Google My Business accounts. This is what creates the maps, this is what creates the reviews. You need to have multiple GM B’s, which you can go into your current GMB, Google, my business, add another location, get it verified, start running specific
localization to that local
practice, right? So, so that’s the process. Now, if you want to start maybe building up that location? Well, you can, you can run ads based off of location, based off of zip code, whether that’s Google ads, Facebook or Instagram. So you can basically single drop a radius search around that specific location, so you’re driving more ads to that location. Okay, so that’s all doable. So remember one website? Okay, Nike has one website, right? Mercedes Benz, they have one website where they send everybody to it’s one brand. So you want to make sure your brand is consistent, and you’re always sending people to that specific website where you’re going to grab all of the lead data. Now you can have multiple locations on your website, multiple phone numbers, multiple addresses, multiple lead flows, where, like, Hey, if you’re interested in this location, like, you can book here or book here, or inquire here or here, and that can go into different lead distribution buckets and know exactly what location that is for, And then build that automation around that. Okay, another thing that I think is going to be super important as you go to multiple locations, a little bit of insight here, just from my background of having business and entrepreneurship. And I’m not a CPA, I’m not an accountant, I’m not an advisor, definitely go hire your own people, but as you’re managing your books and your accounting, you’re going to want to make sure to have what is called as classes. Okay, so if you have QuickBooks, you can build up what is called as classes. And this is really just me giving some advice. Again, I’m not an advisor or license in this space at all. But what’s important about having classes is then you can identify profitability, top line revenue and bottom line revenue, margins and profitability per location. Instead of just having go into like one umbrella of finances, you can break it down per location, and then that can give you KPIs and say, Okay, well, why is location a more profitable than location B when we’re doing the same numbers, right? So that’s super important to understand and know. This should give you guys a tremendous amount of insight. So if you’re in the in the in your minds thinking of going to multi location, I think it’s a great idea. I think it’s really cool. To face that challenge, and if it’s something that you’re you know you want to do, but you keep pulling back, take the leap. I mean, you live once. If you fail, you’ll figure it out why you failed, and then you’ll overcome that, because you’re resilient, right? And we’re strong. So, all right, everybody, thank you so much for taking the time to listen to medical millionaire again. This is Cameron Hemphill. If you found this content valuable, please share it. Keep the conversation going. Head into iTunes. Give us a review and a rating. Additionally, you can visit growth 90 nine.com for all your technology, consulting needs, marketing needs, until next time, happy. Injecting you.