Building a Beauty Empire. From 0 to 180k profit in 8 month and beyond

[Kokaka]

Random thoughts
Been feeling quite anxious latley and have noticed the anxeity increases to dispropornalate levels at the slightest hints of bad news.
Like next week, the bookings are low in both clinics, this come just after we invested a ton of money into building clinic nr2. However I realised today its easter next week. Sales in the service sector drop quite alot during this time.
This made me think why I react the way I do and how to solve the stress and get to the bottom of this.
According to my partner who do the economics, we should have about 90-100k in liquidity between all the companies, so its not that. I realised this reaction would come regardless of liquidity. Ponderd a bit deeper and I think I have found the cause and solution.

Growing up, I was raised by a single mother and we were dirt poor. Every day was a struggle. It was not fun.
Now the subconsious is probably reminding of that time and it tells me I dont want to go back. Especially that I have a small family to provide for.
So the risk of bankrupcy is always there and a reminder that business is fickle and one mistake can take everything away (like was about to happen autumn last year. This was on us and we made some bad mistakes. We have learned from it).
Solution: Finish medschool. Get a profession. If something were to happen, can always work for someone else. Great plan B.
Now hopefully, I dont have to work 8h a day and study like I did before but can have the business ticking every year which will let me pay my bills. Sure, the Porsche driving days are over and will take a while longer to materialise again but with this, I can have the cake and eat it too because I think I will only work 4-5 hours/week now with the businesses.
If the business is taking off again like really off, I pause a semester to expand. No need to rush.
I read an article from Harward that says a healthy expansion should be 10-25%/year. So no need to stress. Let things mature, build a good liquidity foundation to further expand upon. Limit stress and get a profession.

 

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[capito]

We have also started a cooperation with a Dermathologist (skin doctor) who will work in both clinics which are just 40 minutes apart but 2 separate cities. She will work on percentages and as such, she will be totally free and only make us money 100% of the time she work.

I have seen this business model work very well. If the professionals who offer their services are qualified, expect to increase the reputation of your clinics, organically attract more clients, and more $ through the commission for your pocket.

Upgraded to Noteable at least.

my son seems to enjoy going places with me in the car and going to meetings. I joke that in 2-3 years time he can run the businesses and I go on vacation.

Just an unimportant comment. Many years ago, neighbors had their own business that had been working very well, but it took a lot of time. The wife/mother was driving the van, while her little son was in the seat. In his eagerness to drive in a big city with heavy traffic, she did not realize that his son had taken all the bills that were in a box and was throwing them out the car window. The child's happiness was total seeing how the papers flew and disappeared through the sky.
This mother had to learn to manage her business with a little naughty boy (he was) in tow. A little more complicated. Not at all impossible. The business continued to grow.
For now his son seems to be prudent. Wonderful if he likes to do business with his dad!

***
Without a doubt, we are not in a good economic moment. The recession is playing its role, especially in Europe. But you have proven to be a good strategist. Have more confidence in yourself.

As always, very inspiring to read your updates on your entrepreneurial journey

 

[Kokaka]

I have seen this business model work very well. If the professionals who offer their services are qualified, expect to increase the reputation of your clinics, organically attract more clients, and more $ through the commission for your pocket.






Just an unimportant comment. Many years ago, neighbors had their own business that had been working very well, but it took a lot of time. The wife/mother was driving the van, while her little son was in the seat. In his eagerness to drive in a big city with heavy traffic, she did not realize that his son had taken all the bills that were in a box and was throwing them out the car window. The child's happiness was total seeing how the papers flew and disappeared through the sky.
This mother had to learn to manage her business with a little naughty boy (he was) in tow. A little more complicated. Not at all impossible. The business continued to grow.
For now his son seems to be prudent. Wonderful if he likes to do business with his dad!

***
Without a doubt, we are not in a good economic moment. The recession is playing its role, especially in Europe. But you have proven to be a good strategist. Have more confidence in yourself.

As always, very inspiring to read your updates on your entrepreneurial journey

Yeah the Doctor comissions seem like really good win win. Might have 1 more doctor on the way.
Also the first doctor has shown interest in opening clinic/clinics in her home country but under our banner. I build and equip the clinics, get shares, she work. Very good opurtunity further on.

Good story about your neighbor. Yeah uts possible to manage. Just need to be smarter in manage the business (will indirectly force to imporove TIME of CENTS which will make it easier to SCALE down the road).
But yeah, I think its most in our heads that kids need to be raised in a certain way. As long as they enjoy it, no harm and also it gives you more time to spend with them.

Thanks
Yeah we are not in a good place now in europe. However this can lead to oppurtunities.
There are already 2 clinics that has closed in my city this year, one small basic and another medium advanced one. So the market share will be bigger for those who survive.
Hopefully we will be one of those. Clinic nr 1 has been open for 2 years and 2 month now and is stable.
Clinic 2 is new but we have negotiated so we dont pay rent the first 3 month, 50% for 3 month and 25% discount for 3 month. All overhead costs is in clinic nr1. So for now, the only costs is salary and taxes for a while.

But if we were to take it slow this year, improve the product and I go back to medschool. I can move spring next year to a city about 2h away which is an A+ city. Rich and 0 supply but high demand.
There is a space vacant there which has been vacant since 2019. I can make a super nice clinic there. And because now is the buyers market. I can get the landlord to build the clinic for free for me. Thwn I can finish medschool in that city since I can do my internship there.
So its a good oppurtunuty.

 

[Kokaka]

Just saw this thread has been upgraded to Gold.
Thanks everyone who has been along for the ride and all thw new members aswell

 

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[Bekit]

This is an amazing thread! How have I never before seen this thread yet?

Very inspired by your progress. There are some incredible lessons here.

Thank you for sharing. Keep up the good work! And please keep posting progress updates!

 

[ChocolateFactory]

This is one of the best threads I've ever read. Extremely inspiring. Hats off, and best of luck to you! Please keep us posted!

Also the suit part really got me thinking. I'm in IT and I have very few client meetings, and clients also are usually dressed very casually. But I've long wanted to dress better regardless. I like wearing a suit. Might just start doing it. I just know very little about fashion and suits, any good suggestion for getting started?

 

[Kokaka]

This is one of the best threads I've ever read. Extremely inspiring. Hats off, and best of luck to you! Please keep us posted!

Also the suit part really got me thinking. I'm in IT and I have very few client meetings, and clients also are usually dressed very casually. But I've long wanted to dress better regardless. I like wearing a suit. Might just start doing it. I just know very little about fashion and suits, any good suggestion for getting started?

Thanks. Glad you like it and welcome aboard.

YES! Get a suit. It will be your best investment for this year.
This video is by far the best one out there about beginner suit users:

View: https://youtu.be/bEddhMSO0ps

Other good channels is:
He spoke style
Teachingmensfashion
The old videos from Alpha M
Gentlemans Gasette.

It open so many doors when you look like a million bucks.
Like today, I was invited by my old broker to a business network meeting. There where everything from medium to big business owners there. However, i was the only one in suit, and when I suit up, its very fashion minded (I have had a burning interest in this style of fashion for 8 years so I take alot of rules, break them and make the style my own). I like to compare it to a business Connor Mcgregor style, whom his suit game is the best in the business.

Anyway, everyone in this meeting was dressed down, except for the females who where perfect. The men however. Dirty T-shirts, casual, missfitted sportsjackets etc, except for one gentleman. Really stylish casual style.
So what happend. Everyone there where seasoned businessmen, except for me who have no Idea what I am doing. Regardless, I got all attention and admiration. It was way disproportionate.
Got to speak with everyone, everyone wanted my number, know about my business etc. I observed the big majority of men got ignored.
Also got to speak to the stylish man also, he has had a plastic surgery business before so might be a good contact for the future.
But yeah, dress sharp. It opens many doors and you play life on easy mode. Especially in business where the suit has fallen out of fassion.

Check the rules as described earlier in this thread, you cant go wrong with those basics, later you build upon them.

Also, practise waring the suit in public before you use it in a business meeting. Chances are you will feel anxuois and unsure. It will go away. Also take note of how people treat you when wearing a suit. Like ordering a coffee becomes an event.

If I where you, I would get the following items considering you have none:

Business casual outfit

Suit: Navy suit. - You are in your mid 30s, so you can use any colour. But navy is the most flexible.
try one size smaller than you would normally use. If you think you are eg EU52, try an EU50. Chances are it will look better. Fit is king. Remember, Fit, Fabric, Function. Also 100% wool. Brand is not important. I have cheap suits that are 10x better than ex HUGO BOSS for a fraction of the price. Dont pay premium for a sticker.

Shirt: 2 white shirts, 1 light blue shirt. Same as above, size down and/or go for slim fit.
You can play around with paatterns later on. Now we just cover the basics.
Also 1 dark gray and 1 black turtle neck to combine with the suit. Looks stunning

Shoes: Dark brown or black leather or suade. Leather needs to be 100% leather, suade can be fake if you want to save money. Never buy fake leather, looks really cheap.
I would go for a more business casual style because your profession alows for it. A suit is super formal nowdays so dress it down.
I would go for Doubble Monkstraps (my personal favourite), brogues or loafers. You can go for oxfords aswell if you want a more conservative look.
If the weather is bad now where you live, get a pair of chealsy boots or dress boots. You can use theese with the suit.

Belt: Matching belt with your shoes. You could get 2 if budget allowed. One plain and one knitted.

Pants: Dark slim/taperd jeans. You can use the suit jacket as a sports jacket (what people mistakenly call a Blazer) in the beginning. Later buy a dedicated sports jacket.

Watch: Silver/dark/gunmetal watch. I recommend full metal because if has a leather strap, it should combine with your shoes.

Tie Bar: Get one dark metal or a metal that combine with your watch. Dont have to be expensive, you can get it of ASOS for 20 euros.

Tie: Atleast one. Base dark blue with a small repeating pattern. Make sure its 100% silk in the beginning. But you can get as many as you want.

Pocket square: 1 white, the rest can be any colours as long as it has some blue and or white in them. Brown/browhinsh red if you have brown shoes can also work.

Casual:

Pants: White jeans

Shoes: White sneakers

Shirt: White T-shirt

Belt: Cotton belt with some blue in it. Can have other colours aswell, like blue, white and red. The brown knitted belt work here too.

Acessories: Leather necklase with a pendant, leather, wood, metal bracelets. You can get them of asos for like 5euros.

With the casual style, you can be super flexible.

Outfit1: The suit, white T-shirt, white sneakers (no socks) and the necklase, watch and bracelets and some nice sunglasses during warmer days. See how your girlfriend and other people react with this style. You will be pleasently surprised.

Outfit 2: White/blue jeans with a dress shirt. If you like this, get a shirt with Bengal Lines aswell and/or dark colour shirt. Will also work with the Business Casual suit. Now you can buy a black knitted tie aswell. Use Loafers or Double Monk Straps with white jeans. Blue jeans can use white sneakers

Outfi3 3: Use the navy suit pants with just a white T-shirt or suit and your shoise of shoes.

Outfit 4: White jeans, light blue shirt, suit jacket, brown shoes.

The combinations is endless from a small amount of clothes.

Pro tip: Basics dont cost alot. I have most of my basics (except for suit and leather weares) from H&M.
The rest I buy from outlets.
At the outlets, they sell everything up to a 90% discount because its last years fashion. No one will see the difference and no one cares as long as you get the basics right.
I have a fashion outlet about 2 our train ride from where I live. I get suits there for 90euros that normally cost 600euros. Shoes for 50euro that retail for 400-500 euro.
Branded watches sells for nothing on Ebay. I will buy a Hugo Boss watch later which sells in Italy for 100USD.
So yeah. You can get a couple of real good items for the same price as a pair of full price Levis Jeans if you know where to look and what to spend your money on.

And if you like this, you can really up your game and do a "Steve Harvey"

View: https://www.youtube.com/shorts/GW3LZRdBez0


(He got the black suit wrong though, get a charcoal one instead)

 

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[Kokaka]

Random update.
A few weeks ago I got an appifany.
Due to 2 years now of good deal with my leasing company, they have started to offer very good deals to my customers because they see this as a safe investment. They give better deals now than what the bank offer.
So. My plan is to lease to myself at a higher price than what I first thougt. I can lease between my companies with, I will try to get around 6% intrest over 60 month, no downpayment and 0% personal liability with each clinic I open.
I will make between 30-40k profit for each unit because I will make some mega orders but still at a discount.

Now, the clinics will make less money per year doing thus and it will cost like 1,5k/year in intrest.
However, I wont take out any profits out of the clinics. They will just grow and pay off the bank.
I get to register quite alot of extra profit in my machine company. This I can in turn take out as dividend to my holding company and pay 50% less tax/year and make a net profit AND get a higher cash flow which I can in turn reinvest faster.
This in turn would over all make a higher yeald if my investments beat the interest. And all this with 0% personal liability. I print my own money.

I think this is what real estate people use. Get the bank to finance the building. Rent out the place, build cashflow to pay back the bank and sell after many years when the value has increased.
This is the same, but the cashflow will be way, way higher.
Did I just break the system?
Need to talk to my accountant and later try this.

 

[ChocolateFactory]

I have several suits, I just never wear them. They are even tailor-made (Thailand etc.), but I'm still not 100% happy with the fit/quality. I can tell if something looks good or not, but it's difficult for me to describe how I want it to be. I really like how SuitSupply employees are dressed, for example. But I'm always worried about spending money on clothes and then not getting it right.
Another challenge is that I travel a lot. So I'm sure that having six suits in your closet is great, but it's not so great when you have to travel with six suits.. Still I really like that style. He looks great, while not too formal.

About the leasing company, did I get that right, you work with a leasing company that buys the machines from you and then leases them to your customers? That's an amazing idea.

 

[Kokaka]

I have several suits, I just never wear them. They are even tailor-made (Thailand etc.), but I'm still not 100% happy with the fit/quality. I can tell if something looks good or not, but it's difficult for me to describe how I want it to be. I really like how SuitSupply employees are dressed, for example. But I'm always worried about spending money on clothes and then not getting it right.
Another challenge is that I travel a lot. So I'm sure that having six suits in your closet is great, but it's not so great when you have to travel with six suits.. Still I really like that style. He looks great, while not too formal.

About the leasing company, did I get that right, you work with a leasing company that buys the machines from you and then leases them to your customers? That's an amazing idea.

You want to dress like suit supply? Lets dress like suit supply! (You came to the right place)

View: https://youtu.be/PsBBlmOZGO4


If you are not happy with the fit, you have to retailor the suits you have. Fit is king.
If the quality is lacking, like it looks plastic or just plain bad. I would throw them out.
It does seem however you need 1 navy suit you feel a million bucks in.
Dont make the mistake of thinking you only get 1 suit. You ger 1 suit, 1 jacket and 1 pants. If you have the correct basics. You can make like 10 outfits with just 1 suit.

View: https://youtu.be/6u3cWvKj32Q


Better to have 1 good suir you can use everyday than 6 bad ones that never gets used.
If you go for a new, good navy one. Try to look at navy hopsack paterial, with patched pockets. More casual and easier to dress it down and it gets more flexible

View: https://youtu.be/_l8pA1DBh38


Also good suit is enough when traveling (you could get 2 because you have a spare if the 1st gets dirty)
Check this video out.
4 combinations with 1 suit when traveling for 48hours

GQ Rules: The 48-Hour Wardrobe

How to pack a small selection of pieces that will take you from the airport to the client to a night out, all in style

www.gq.com

 

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[Kokaka]

About the leasing company, did I get that right, you work with a leasing company that buys the machines from you and then leases them to your customers? That's an amazing idea.

Yes. Normally when a customer buy from me, it goes through a leasing company because 1 machine cost between 30-60k and sometimes my customers buy like 3-5 in one go. Its alot of money.

My first idea for was to rent out (lease) from myself to my clinic compny for production cost.
However it will take a long time before I make my money back.
Now I get 5 years worth of profit at once when I instead sell the machine to the leasing company and can make 30-40k profit/clinic I open.
Then I can scale faster and make a profit between less tax and intrest from the bank. Abit complicated for anyoneone not accustomed to leasing.

 

[BizyDad]

Did I just break the system?

Maybe. Keep going and find out.

I’m hunting for hidden leaders on the forum who might bring different perspectives to the table.

@Primeperiwinkle check out this thread...

 

[ChocolateFactory]

Maybe a mod could split the clothing discussion into a separate thread? I don’t want to derail this one.

The leasing stuff is very interesting. Maybe I can apply that to my software business as well.

Regarding Brazil - you mentioned your child was born there and there are restrictions on foreign company ownership. Can’t you get Brazilian citizenship for your kid (I’m pretty sure they have citizenship by birth there) and then make him/her a shareholder of the Brazilian business?

 

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[BizyDad]

Maybe a mod could split the clothing discussion into a separate thread? I don’t want to derail this one.

The leasing stuff is very interesting. Maybe I can apply that to my software business as well.

Regarding Brazil - you mentioned your child was born there and there are restrictions on foreign company ownership. Can’t you get Brazilian citizenship for your kid (I’m pretty sure they have citizenship by birth there) and then make him/her a shareholder of the Brazilian business?

The suit discussion is perfect in this thread. It's just more value being dropped by @Kokaka

 

[Kokaka]

Maybe. Keep going and find out.



@Primeperiwinkle check out this thread...

Yes 100%.
It should be 100% legal and doable because all the clinics are separate companies. This way, I wont build a house of cards wheras 1 fail, it will drag everyone with them. Now everyone is its own little micro-cosmos but under the authority of a mother company, which our holding companies own. So its a super safe foundation. we also get tax subsidies for our first employees for 2 years when we open a new business. So its safer and we increase our cash flow this way.

Maybe a mod could split the clothing discussion into a separate thread? I don’t want to derail this one.

The leasing stuff is very interesting. Maybe I can apply that to my software business as well.

Regarding Brazil - you mentioned your child was born there and there are restrictions on foreign company ownership. Can’t you get Brazilian citizenship for your kid (I’m pretty sure they have citizenship by birth there) and then make him/her a shareholder of the Brazilian business?

Yes he has doubble citizenship, my wife aswell. So if I open there, I can own 49%, the others need 51%. In India when I open there, I can own 40% as a foreign investor/company.

About the leasing idea. It would work if you have 1 company that sell very expensive wares and another company that uses those wares. Eg, you have one construction firm that builds a building, lease it to a hotel business which pay off the bank and you have a leasing company in the middle.

I read however in your introduction that your girlfriend is a Phd in Microbiology and is trying to build a beauty product that does not exist yet.
I have a friend of mine which is exactly the same (except for he is male). He build a beauty product that did not exist. He was able to lift 1.8 million in cash and later sold 10% of his business to a big beauty and cosmetics e-commerce business. He told me this business buy a small share for cheap (free?) and market them on thir page. That way he gets free marketing and a very big exposure and the e-commerce own a business that if it become a world famous brand, they have made a ton of money for free. If not they have not lost anything. Genious business by the e-commerce and really a win-win for both parties. Can be something to think about and look into.
Also. There is a TON of money to be made in beauty which is strange. Its a very unexploited market because it caters to females, but men are catching up, so its less exploited by private equity firms etc.
If you are an entrepreneur, you are like 90% of the time male. Males do mainly 3 things: Tech, Web or Food and drinks. Beauty less so

The suit discussion is perfect in this thread. It's just more value being dropped by @Kokaka

yes lets keep the suit discussion in. And any other question for that matter, be it philosofy, business or something else unrelated.
If you want to open a fashion thread. I will subscribe and be a frequent poster. The 3 things I love in life is: Everything business and economics, Fashion and Martial Arts (been a fashion and MMA fanatic before Connor McGregor, so Im in no way or shape a fanboy )XD

Also tomorrow Im going to Spain for 10 day vacation. First time in a long time I feel like I can relax. Yes I have been traveling alot, but always 100% focus on my phone, business and customers. Been working full time regardless off geographic location.
I guess the more you grow, the more you can relax. Hopefully in a few years, this can be the frequent. The businesses has started to mature.

 

[hooponopono]

Thanks.
Its actually easy.
Just find someone who sells expensive stuff at a good price. Be the middle man and sell it for more and just take some of the profit for yourself. Let the seller ship directly to the customer and as such, you dont have to have any stock etc.
Just pay for ads at Greek selling forums.
Dont be afraid to look at other countries.
Example
High end Gyros Ovens for big kitchens
They should have it in neighbouring countries like Macedon and Bulgaria and I believe its cheaper than in Greece.
Get a contact to someone who sell ovens over there for example 20k. Sell them for 25-30k in Greece.
Let the customer in Greece pay everything in advance, use some of that cash to buy the machine in Bulgaria.
Also get into contact with banks that lease. Then the bank will cover the purchase.
Its as easy as that.
Later on when you have cash. Make your own ovens, lower the initial cost and make a fortune.

Thats exactly how I did but with high end beauty machines which I sell to Doctors etc.

Heyhey
Thanks for sharing your process

I imagined you knew that the beauty machines were in demand because of your partner and med background ...

By in this example of gyros oven , how do you attest that its a booming market ?
( the gyro oven is a random example or you really know something about it ?)

 

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[hooponopono]

Random update:
Machine company:
Made about 30k more in profit, among them from another sale to my first ever customer. I gave her super good service in January when her machine broke again. She has had problems since day one with this machine (Not my brand but one of the worlds most famous brands).
I decided to trade her machine in for one of mine (even tough her warrany had run out), loaded it in my car and drove across the country with it because she was fully booked for the whole week and could not wait any more for service and could not loose this amount of money again.
Turned out she was super happy with the trade and her new machine so she bought another one. Just shows how important good service is. The ROI is just insane.

Clinic company:
The current clinic is going too well. We are currently running our 2 treatment rooms with 4 staff which make it possible to be open from 08:00-21:00 six days a week (with some slight abbreviations). First bookable time now is in July so my girls are killing it! I have also increased the marketing to cover the whole state to prepare for clinic nr 2 and 3.

Feels good that I can finally relax and not have every single day be panic work filled with stress and anxiousness. Alot of it has to do with my partner who do everything I dont know how to do yet. I just focus on making more money. He makes sure everything runs like a business. Can finally breath after about a year.

So now we can also finally give back to our staff, and we have planned some events with food and drinks.
Money-wise, we make our best month ever now. We will have a turnover on 32k from our 2 rooms/month and has been stable at this level for the last 3 month.

We are also very close to sign the deal for the second clinic in the neighbouring city in which I have been working for over a year now to open. Got a very good deal on it. The landlord will pay for all the renovation and design in the place and also give us a discound the first year and just 80% of index increase on the rent. It wont be cheap. It will cost about 320k to fix it up but it will be one of the nicest clinics in europe, located at a AAA spot with a good rental contract in a city with high demand and little supply. If I cant get it to work, then clinic nr 1 is just an anomality and it would be best to kill the project and just focus on the machine company. However I think clinic nr2 will be more popular than clinic nr1.
If I get it to work like clinic nr1. We will have a turnover from our 5 rooms of about 80k/month with 40% profit margain. It can expand to 50% in the future when we grow so we can start to buy consumables in bulk and also make our own products for professional and private use through private lable.

We are also waiting for a response from a smaller city which we got a great deal to open clinic nr3 in which will also have 5 rooms.
Also waiting for a response to expand to another local in clinic nr1 city which will increase the rooms from 2 to 5.

Best case cenario is that we get all 3 and if we fill the rooms up like we have been doing for the last year in clinic nr1. We will have an anual turnover of around 2 million/year with high profit margain. However, as we all know, it usually is not that simple but it gives something to strive to. Would be cool if we manage because it will be the first step of building "a real company".

Other:
For me, the best thing that could have ever happend was to get this partner. Everyone always say dont sell a peice of your business. However, with the way things were, I was just over worked and on the verge of burnout, just by trying to maintain what I had. It made it even more complicated because I dont have any training, business degree or education. I just learn by doing and see what works. This meant everytime something came up, like one of the staff had to be home with her sick kid, apply for vacation, book keeping etc. I had to learn the damn thing, which just took up to much time and energy. It came to the point that it became so frustrating that I contemplated to kill the machine company, liquidate it and reinvest and just focus on the clinic company. However, now when all the "CEO - stuff" is coverd by my partner, I can focus on just expanding, building the brand and making more money. All the things I enjoy to do and am good at. It will also save me about 5 years in the process and we can expand at supersonic speed now.

So now, the plan is to prepare for clinic nr2 as much as possible for the next 2 weeks, also start to investigate the neighbouring state to open clinic nr 4, because it takes about 6-12 month from start to finish. After that, I go to Brazil for 6 weeks when my kid gets born. My partner, who is also a super great guy has told me to take a little time away, recharge and be with my family, because only god knows how much I need it. Then come back in the beginning of august and make the final preparations for the grand opening of clinic nr2 1'st of September.

Cool that you can rely on your bizz partner and relax like you said .

You received some input from him and his experience of how you dealer with things before ? He had yo organize lot of small "mess" or he thinks you did a good job even without experience?

Curious about that ☺

 

[Vigilante]

One of the biggest advantages of shopping for a business suit online is the convenience factor. You can browse and compare different styles and brands from the comfort of your own home or office, without having to travel to multiple stores or deal with the hassle of crowds and parking.

When shopping for a business suit online, it's important to pay attention to the details. Look for suits that are made from high-quality materials, such as wool or cotton, and that are designed to fit well and flatter your body shape. Best sales in one place with Europe delivery inlower. Many online stores provide detailed measurements and sizing information, so you can ensure a good fit.

It's also a good idea to read customer reviews and check the return policy before making a purchase. This can help you get a better sense of the quality and fit of the suit, and ensure that you can return or exchange it if it doesn't meet your expectations.

Don't use CHATGPT to respond to forum threads.

 

[Kokaka]

One of the biggest advantages of shopping for a business suit online is the convenience factor. You can browse and compare different styles and brands from the comfort of your own home or office, without having to travel to multiple stores or deal with the hassle of crowds and parking.

When shopping for a business suit online, it's important to pay attention to the details. Look for suits that are made from high-quality materials, such as wool or cotton, and that are designed to fit well and flatter your body shape. Best sales in one place with Europe delivery inlower. Many online stores provide detailed measurements and sizing information, so you can ensure a good fit.

It's also a good idea to read customer reviews and check the return policy before making a purchase. This can help you get a better sense of the quality and fit of the suit, and ensure that you can return or exchange it if it doesn't meet your expectations.

I would never recommend buying a suit online if you dont know the exact fit and fabric.
If you do however, it can be great.
Like I have a brand and model which fits me perfect (im super lucky to not have to tailor it). If I see the exact brand and model I know I can buy it if the price is right. The fabric is the only difference and if I dont like it, I just send it back.
However always remember. Fit is king

Heyhey
Thanks for sharing your process

I imagined you knew that the beauty machines were in demand because of your partner and med background ...

By in this example of gyros oven , how do you attest that its a booming market ?
( the gyro oven is a random example or you really know something about it ?)

The gyros oven was just an example since I saw the poster was from greece. I also thought that this was just at the end of the pandemic, the economy would boom and the greek tourism would blossom and there would be ahigh demand for ovens. I also thought ovens would be an expensive ware.
But yea, I have no knowledge apart from this in kitchenware or gyros, apart from its delicious. But the same principle could work with anything, expensive and niche. Maybie farming ecuipment, TV-monitors for coorporate buildings and commercial shops (actually not a bad idea when I think of it) etc.
Just try to find expensive things with a high profit margain to flip, sell or lease lease. The highest margain is in med-tech but the ENTRY is very high.

Cool that you can rely on your bizz partner and relax like you said .

You received some input from him and his experience of how you dealer with things before ? He had yo organize lot of small "mess" or he thinks you did a good job even without experience?

Curious about that ☺

Yes he fixed every mess and made a foundation of which I can build upon. He probably saved me 5 years and maybie from jail (from bad book-keeping and not knowing how taxes worked) because things grew too fast and spun out of controll.
Now he do economy and staff and I build the product. Sure we talk about what we do and have great communication but it would take each other years to learn each-others skills and now we can specialise in what we are good at.
If finding a partner, I would recommend to try to find someone with the skills needed to grow which you lack. Like I would never sell or get a partner thats a clone of myself. Better to find the complete opposite.

 

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[ChocolateFactory]

The highest margain is in med-tech but the ENTRY is very high.

There are some companies specializing in computers for doctors and dentists. They're just normal computers and peripherals. But they charge like a 100% markup. It's crazy.

If finding a partner, I would recommend to try to find so, someone with the skills needed to grow which you lack.

For me, the biggest issue is how to scale. I'm working so much, doing software development myself, managing clients, managing developers (checking if what they do is good quality, explaining what to do etc.). I don't really have time for sales - but I think I'm not bad at sales and I think it's fun. Not sure how to find the right partner.

 

[Kokaka]

There are some companies specializing in computers for doctors and dentists. They're just normal computers and peripherals. But they charge like a 100% markup. It's crazy.



For me, the biggest issue is how to scale. I'm working so much, doing software development myself, managing clients, managing developers (checking if what they do is good quality, explaining what to do etc.). I don't really have time for sales - but I think I'm not bad at sales and I think it's fun. Not sure how to find the right partner.

If you want to scale and have a good foundation, you can do it yourself, in most cases its better.
If you dont have time for sales, you can always hire a salesman who works of comission.

But yeah, everything in Med-tech is crazy markup and has craxy revenue. The trick is to get inside. But once you do, I have not seen any other area with the same returns as this.

 

[hooponopono]

There are some companies specializing in computers for doctors and dentists. They're just normal computers and peripherals. But they charge like a 100% markup. It's crazy.

Would be interested to know more about this computers .. maybe would be a good bizz to dive .. can you share more @ChocolateFactory ?

 

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[ChocolateFactory]

Would be interested to know more about this computers .. maybe would be a good bizz to dive .. can you share more @ChocolateFactory ?

Well, what is there to share? Just to do some research about companies that make IT solutions for doctors and dentists? They typically sell both software and the PCs to run it on. The markup is crazy. I remember that from when I was a teenager and helping family members with IT stuff. I saw what they paid for their computers and it was absolutely ridiculous. Like a simple PC selling for... I don't know, maybe $1,500 when you could buy a comparable PC at an electronics store for $500.
Their advantage was of course that they were bundling it with the software: "Oh, so you want our software for your new practice? You don't have any PCs yet, do you? You're in luck, we can provide you with all of that as a package."

 

[BizyDad]

One of the biggest advantages of shopping for a business suit online is the convenience factor. You can browse and compare different styles and brands from the comfort of your own home or office, without having to travel to multiple stores or deal with the hassle of crowds and parking.

When shopping for a business suit online, it's important to pay attention to the details. Look for suits that are made from high-quality materials, such as wool or cotton, and that are designed to fit well and flatter your body shape. Best sales in one place with Europe delivery inlower. Many online stores provide detailed measurements and sizing information, so you can ensure a good fit.

It's also a good idea to read customer reviews and check the return policy before making a purchase. This can help you get a better sense of the quality and fit of the suit, and ensure that you can return or exchange it if it doesn't meet your expectations.

Don't use CHATGPT to respond to forum threads.

I thought the same thing. I was so curious, I checked. This text passed 3 gpt checkers. Lololol.

David is either a good gpt rewriter or has the unfortunate ability to speak exactly like a robot.

 

[Kokaka]

Random update:
Machine Company
Slow and steady the way I like it. Might have some leads but am not pursuing alot of sales now.
This business will be slow intill next year when inflation is beaten and new businesses will start to sprout.

Clinic Company
The newest girl I hired has shown to be worth her weight in gold. She was hired to have some responsibilities in clinic nr1 and clinic nr2 and my god, she is stupendiously good. She is better in organising and running the damn thing better than me and my two business partners put together. And she has understood that if we grow, she grow and she see the long term potential as we all do and she is working to be the COO consiously or uncounsouly. This is a great oppurtunity for growth. She is also an alpha woman so now we have 2 alphas running the ship and they work so good together, have the same vision of what need to be done and match psychological aswell. She is also an immigrant so she has the "hard work mentality". If nothing happens, this will pay off and she will make quite alot if she just keeps on doing what shes doing.

So, when admin is solved we can grow. Especialy with the financing trick I wrote above since now I have structure and an unlimited supply of money with 0 personal risk or liability.

Also got some good news from my business partner who confirms what I have been thinking theese 2 years.
Clinic nr1 is more or less break even because it manages all fixted costs and all overhead. Sure it will start to make a profit now once we stop paying for clinic nr2 but we can conclude we can open clinic nr3 with the same formula.

Clinic nr2 has the following cashflow: Cash in - salaries and rent. As is, we have made 10k profit/month since we opend and we have not been open for 3 month yet. We also have the chance to expand which we will further down the line. The clinic is 150m^2 with 3 treatment rooms, with the possibility of building 2 more. Now only 2 is active but the more market share we get and the more treatments we can offer, aswell as price increases once we are stable, it would not surprise me if we could double the profit, maybie even tripple it but I doubt that.

Conclusion:
Every clinic will make atleast 10k/month from day 1. The city where clinic nr 2 is locaded is D tier aswell and if we look at A tier cities (bigger, richer population with 0 competitors) we could probably make more and faster.

Now, there is an A tier city which I have been eying on for a while, its about 90minutes drive from where I live. A fully mounted clinic has become vacant with 0 cost of aquire (just like clinic nr2). Once I get my new car, a BMW X1, I will drive down, take a look and sign the contract if everything checks out (it should).

There is also another D tier city and a B tier city close by. The D tier I can get the landlord to mount the clinic for me for free since they need cash-flow. The B tier city has also a clinic ready for the taking.

Verdict:
Because of economic turmoil in the EU region, many has felt the mild recession. Many has gone bankrupt and its not what it once was. However what Winston Churchill said: "Never let a good crisis go to waiste" and as Warren Buffet said "Act greedy when others are fearfull and be fearfull when others are greedy". I understand theese quotes now. If we manage to expand 1-3 clinics this year when the market is open and we have so many good spots for free and landlords which can give us increadible deals, it just screams now is the time to strike.
If we can get 3 more clinics this year, all 90 minutes communte from the base of operation, we make money from every clinic we open (machine company) and we make money from every clinic we open (clinic company) it just seems too good to pass up.

I have also studied 2 factors which can affect this strategy which you can predict (somewhat and apart from nuclear war etc.) which is inflation and temperature.

If we look at the forecast for my country, it will really start to drop from the end of july to the end of september by about 1.5-2 percentage points, then another, similar drop from november to december. This is alot and will make people happy again which means they starts spending and also competitors start to grow. By forward settling, we solve this (never thought I would use Civilication 5 video game strategy in business decisions).

The other is temperature. Because the EU has been dependent on gas from Russia, a cold winter could drive up energy prices again. However in my region, in spite of the weather phenomenom "El Nino", it seems this winter will be warmer than avarage again. The Eu is also now better prepared for the winter with full gas reservoirs etc. Should not be a problem but better news than a freezing winter.

So, Hopefully i can mount 1-3 clinics more this year and increase cashflow by 10-30k/month. I really want a BMW i8 for next year but have decided I want a cashflow of atleast 50k/month before I get one of those because its a stupid thing. However its good motivation. Lets see what happens.

Also on a sidenote. Sent my wife and kid to her family abroad for 6 weeks. She gets to spend time with them and I get to finish my backlog with work and studies. Really good deciaions since now I can recover and be selfish, work and workout as much as I want. Really needed

 

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[9w13cky7]

I thought the same thing. I was so curious, I checked. This text passed 3 gpt checkers. Lololol.

David is either a good gpt rewriter or has the unfortunate ability to speak exactly like a robot.

Reminds me a bit of the kind of articles I would spin out during my 500-per-day article research and rewrite sessions. *shudders* Not going back there, still get nightmares about "green-lipped mussels" and "hand-held GPS navigation systems".

 

[Kokaka]

Some random updates:

Machine company:
Got a random sale out of the blue. Someone who bought a machine for 36k. She was declined by the leasing company so we lease to her ourself. About 50% upfront and 24 month pay without intrest. In the contract, I get to take back the machine if she fails to pay for a predeterimed time and since she has payd 20k already, I get break even, get the machine for free and put it in one of my clinics. If everything goes well, I make some profit. Win either way.
Has got alor of request recently for people who wants to buy. Have some orders pending. One 120k, one 60k and one 50k order pengin. Seems alot of people who have been waiting for the inflation to stabilise is being hot now and want to invest.

Clinic Company.
Now we enter in the low season.
I remember from last summer july and august were horrible. I hope this summer is better because more people will spend the sommer home due to price increases on flights and hotels, should keep more people home and more more customers for us. Either way, we are prepared with decent coffers for the low season.

Also went and redisigned the treatment rooms today for clinic nr 2. New paint and some carpentry. About 2-3k investment but worth it. I learn alot on how to build clinics with colour and material selections as well as carpentry, plumbing and electricity so clinic nr 3 will be a cakewalk to construct.

Speaking of clinic nr3:
I might get an offer to move into an existing clinic in september/october in an A grade city about 80 minute drive from where I live and clinic nr1 is located. This clinic is in an A grade city with AAA grade location, fantastic rent (3 floors but they only calculate rent on the ground floor) and has the possibility to be a real money making machine. Now, with the leasing financing trick I have all the money I need but some things has come up.
I might be growing to fast, there are still alot of things that needs to be done and optimised. Clinic nr2 is only at 60-70% capacity, still enough to make a small profit and it should pick up. I will get the 2 doctors online soon and also have 3 new machines that retail for 150k there now so we will increase our treatments by about 30%. Hopefully that closes the capacity gap.
But when growing from 1 clinic to 2, thats a 100% increase. So alot of admin and organisation issues arrive. I just hope we will be able to solve this before we decide on clinic nr 3.
We have 2 options:

Take clinic nr 3:
Pros:
Once in a lifetime chance
Cons:
Growing very fast, increase risk and has less attention per clinic.
Solution:
My business partner will be back from maternety leave soon and will be able to supervise. Also traine the newest employee to supervise.

Dont take clinic nr3
Pros:
Focus on clinic nr 2 and make it 100% compleate and a cash flowing machine.
Cons:
Loose a great oppurtunity for clinic nr3.

I am still battling on which is best. My business paertner will be back soon and that will help alot, because I cant run the daily operation since I dont do daily operation. Hopefully we can identify what needs to be done to expand so we can take the opportunity.
I have instructed the staff and the new employee (future supervisor) that we need to identify all details and so the operation runs smooth and they need to help with this. They do a great job and has given som egreat feedback.
Hopefully we will get everything in order and take clinic 3.

Other:

Been very calm 6 weeks. Has had alot of time to study for my medical exam now on saturday. If I pass, great. If not, I can focus more on the businesses. Its a win-win either way so first time with no stress, enxiety or performance enxiety in a long time.
Things are maturing and I am starting to get in a great spot.

 

[BizyDad]

My vote counts for nothing, but my vote is for expansion. Opportunities like this don't come along very often.

Push yourself to your limit. Look at the processes you have in place. Can you make them better? more efficient? Can you hire an assistant to free up your time?

In the short term, maybe the first 2 operate even less efficiently. but in the long run, you will have 3 well run money makers. A little pain for the long term reward.

 

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[Kokaka]

My vote counts for nothing, but my vote is for expansion. Opportunities like this don't come along very often.

Push yourself to your limit. Look at the processes you have in place. Can you make them better? more efficient? Can you hire an assistant to free up your time?

In the short term, maybe the first 2 operate even less efficiently. but in the long run, you will have 3 well run money makers. A little pain for the long term reward.

Yes I think in the same manner. In this city, its the first commercial space that has come up for rent in the last 18 month AND its a fully mounted clinic. So the oppurtunity is too good to pass up. Especiali since I can print my own money with 0% personal liablity so I can do it 100% risk free from a personal perspective.

Clinic nr1 is mature and successfull, now we do foruc on clinic nr2. But now when my businesspartner is back and after my exam, we can focus 100% on it for 3 month, just in time to open clinic nr3 and I have the possibility to return to university. Should work but I keep it in the back of my mind that things needs to be solved.
However I think this.
1'st one was the hardest - Everything was new
2'nd one was the second hardest - Easy to build the clinic, new challenges arrive in management because we expand from 1 to two, which is 100% expansion.
3'rd will probably be easy - Know how to build clinics and management is in place from from what we learn from clinic nr2.

And my businesspartner and the supervisor will probably be able to run the ship. They two together will be an A+ team and complement eachother perfectly.

 

[Kokaka]

Random update:

Machine Company
This has been on fire. Alot of leads. Have potential sales for 200k in one week. Hopefully some buy.

Clinic Company
Seems the landlord for clinic nr3 wants to proceed with us. I have a registerd business already from the year before which is currently dormant and I raised 50k risk free from my leasing trick. Feels great to be able to print unlimited money for myself risk free. Helps alot.
Now just wait for some building data so ventilation, plumbing and electricity is up to par (vacation time now, everything takes time).

Been working all day with our new website. The more I have looked into it, the more I realise how our old one is crap. Difficult UI, lacking treatments, lacking info, no help for customer to navigate.
Been writing 3k words. This new one is going to be great. Will cost 1.5k to fix but worth it if I can get a higher conversion rate.

Finaly things are starting to get exciting.