In the medical aesthetics industry, the supplier and client relationship is so much more than just a simple business exchange. Beauty therapists, spas and salons tend to be run by owner-operators who will look to their suppliers to not only provide them with the assets and supplies they need to run their businesses, but to become a dependable service partner. They’re looking to work with a supplier that understands their particular needs and to provide long term solutions -even to help navigate some of the complexities of the small business world.

Small businesses are finding it hard to finance their growth

Operators are finding it hard to secure the financing they need from lenders. Since the GFC, banks other lending institutions have been less eager to provide commercial credit to small businesses. This means that many SMEs, including local spas and beauty clinics, have been left out in the cold. A report conducted by Parliamentary Joint Committee on Corporations and Financial Services showed that access to finance available to SMEs since the GFC has been more limited and more costly.

One opportunity for dealer businesses to help out in this harsh climate is to offer financing options that will allow businesses to get the equipment they’re looking for to grow their operations. Medical aesthetic equipment leasing is a great way for businesses to pay for the use of their new equipment for a fixed term. They can lease any of the machines they’ll need for their business including hair removal technology, scar and cellulite treatment machinery, fat cavitation machinery, galvanic spas or even furnishings such as massage tables and stools. At the end of the lease term, they’ll have the option to renew the lease or return the old assets and upgrade to new technology to keep their businesses up to date.

Benefits to your business

Offering a finance option with your beauty supply business can certainly help your own bottom line as well. Besides strengthening the relationship with your client base, commercial leasing can help your business attract new business and continue to expand its operations:

1. Expand your product offering– the medical aesthetics industry is constantly innovating and your clients will be looking to regularly upgrade their equipment. You’ll be able to source the newest IPL, phototherapy, cavitation and microdermabrasion machines and expand your own product offering to keep up with the latest technology developments at home and overseas.
2. Offer more value – instead of discounting to stay competitive, suppliers can offer more value with a financing option. This makes it easier to close deals and makes you more valuable to the client as you’re providing a more complete solution for their business.
3. Better forecasting – by helping your clients secure an equipment lease term, you’ll know when they’ll most likely be thinking about new equipment for the business. This means you can better forecast your own revenue stream for the future.

By having customised and flexible financing and payment solutions, you’ll be strengthening the client-supplier relationship for the long term. By partnering with an established credit provider, you'll be adding value to your business and giving your client base an extra level of quality service and care – and that’s the real beauty of the business.

How do you strengthen relationships with your client base? What services to business owners look for from their suppliers?

Robbo
robbo@flexigroup.com.au