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

Kokaka

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Hi all.
So this year has been a ride and Im thinking about writing a progress blogg to get input but also to organise my days. Maybe I will get some good advice and maybe others can get some ideas.
This all started in june last year with my first business which was a beauty clinic where we rented a room in an existing clinic with just my partner who did treatments, turnover was about 5k a month and 1k profit. In december, I got the idea that I could sell machines to beauty clinics to others. The advantage with this was that I could buy machines from myself for the purchasing price and sell to others for retail price, at 30k for basic machines. Win-win.
Took a 3 day business trip across the world to a company that sell machines and one business lunch later, I had an agency.
In december, I made 110k in sales with 35k in profit from 3 machine sales. I put the profit info opening my own Beauty Clinic in February.
This was fantastic since I was a struggling med-student with 0 capital with alot of student debt so having this 35k was a godsend.

From february to may, the machine sales dried up due to covid and I could not get any more sales. This made me focus on the clinic and after 1 month, we where fully booked. However, it was just my partner working there and me in the reception and she made a turnover of about 15k with 10k profit / month. After 6 weeks of being opend, we had a 4 week waiting list. It increased to 6 weeks after being opend for 2 month.
Why? Because I had broken the "Entry Barrier" of CENTS. Because I could get machines for the purscasing price and lease from myself, I opend with the most advanced beauty clinic in my state. I opend a fully functioning clinic from day 1 with services that would have taken years of profit to invest in for a normal business. Most of my competitors had 1 machine, we had 4, and after a little while, I leased 2 more from myself.
This oviously led to a problem of Scale. I had all the machines that I would ever need but only 1 person working in the clinic. With a waiting list of 6 weeks, I had to hire staff. This was not easy. We had countless intreviews but no one was good enough. However, my partner rememberd a college who worked at another clinic nearby who apparently was fantastic in every way. 1 phone call away and an offer to increase her salary by 200usd, she started at our clinic the month after. I also hired a nurse part time which I knew from my time at the ICU working with the covid patients.

During this last month, the machine company got going again with a few very lucrative deals which lended a total turnover of 290k with 140k profit total. And still has 2 orders pending which if accepted by the bank will net another 60k profit and 120k in turnover. Even better, this business only cost me 500usd a month so the margin is great.

However, after the first big orders came in a month ago, I just hit a wall. From working 12-16hour a day year after year. First in medschool which I failed again and again, to getting and recovering from depression, anxeiety and burnout, to trying to pass the exam while working in the ICU with the covid patients, opening 2 businesses and making them succeed. To the removal of years of stress now that I know I can finaly pay my bills every month, buy a car and offer a good life for me and my family.

So now, since I got my employee which we have trained to be the clinic manager, I only work just a few hours a week. However, I have done almost no work for the last month, even though the money keep coming in and I am just in bed or on the couch. However, I feel the recovery time is soon up so I have made a strategy to come back on track because I think Im onto something big.

I have 1 goal which for me is very obvious:
Create a beauty Empire with advanced beauty clinics of 1000 clinics world wide, create my own machines which will accompany the clinics and create a brand of cosmetics which I sell online and in the clinics.
So I guess alot of you are asking. Why focus on the clinics and not machines? The machines has made you 140k in 8 month in profit with maybe another 60k on the way.
The answes is value. I have come to understand that value is worth more than money.
The Clinics a better business model, even though it makes less money now. If we look at CENTS, I can break every criteria. The machine company will soon reach its limit and a limit of its value. I am also passionate in building clinics and not in selling machines. I can fix the value problem with the machines by making my own brand, but I can only choose 1 business now and the clinics has way better long term potential.
Lets break down why:

Entry - Easy, I have my machines which I buy from myself at a big discount. We also break Entry by our skills and knowlage in the area. Im halfway through medschool which has helped alot with the product of the clinic. My partner has studied beauty and cosmetology for 4 years at a university so all in all. An A+ team with knowledge far superior than my competitors.
Need - Easy, every clinic I open is the most advanced beauty clinic there is with the most services and better prices than my competitors.
Scale - Open a few with direct ownership, later franchise. Scaling is unlimited because people across the world want to look nice.
Control + Time - This is the tricker part. Thankfully, I have gotten a mentor from a country owned mentor program which helps new, aspiring businesses for free (!). She owns all McDonalds in my state and has about 800 employees and countless restaurants. McDonalds is famous for having one of the best inftastructure systems in the world so we are working on copying as much as possible to apply to my clinic(s). This will in turn have good controll and time management.

I am also looking to sell the machine company because I dont like it that much and my broker has valued it to about 1 million, he also belives he has a few old clients of his who is very interested in purschasing it. Then I can turn the profit I make from selling the machine business into scaling the Clinics at super sonic speed.
I have calculated that it cost me 50k to open a clinic. It will give me a profit of about 100k-150k a year on avarage. So about 200-300% return of investment yearly.

To reach this goal I have come up with a strategy.

Short term goals:

Mental and physical health.
  • Start excercising again on monday (was very active before with both martial arts and gym)
  • Wake up 07:00 every day, starting monday.
  • No alcohol for 1 week
  • No sugar for 1 week
  • Pick up Unscribted
Business
  • Change logos on my clinic because I am building a brand and copywriting the name. Hence I have to change the branding.
  • Have training with my mechanics on some new machines to offer service and repairs for my customers.
  • Start a marketing campaign for my machine company
  • Improve my clinic website
  • Correct mail adress to my clinic and machine company
  • Fix the phone rederection line to my mechanics
  • Control parent leave for employee
  • Double check AC bill
  • Check the possibility to make a webshop for my machine website to sell small items
  • Create a graphic profile for the clinic site
  • Create an instagram and facebook page for the machine company
  • Get my bookkeeping in order
Medium term goals

Mental and physical
  • Excercise minimun 3 days/week
  • No dopamine stimulants (Alcohol, sugar, porn etc.) for 1 month
  • Finish the book
  • Eat clean for 1 month
Business goals
  • Close the current deals for the machine company
  • Create a webshop for the machine company if it is doable/profitable
  • Sign the deal for the 2'nd clinic
  • Find employees for the 2nd clinic
  • Market the 2nd clinic
Long term goals

  • Have a healthy, active but balanced lifestyle
  • Increase my private and my business network and make new friends and colleges

Business goals
  • Sell the machine company
  • Open 3+ other clinics, then franschise
  • Open a cosmetic company
  • Open a company that develop machines from scratch and brand it.
I have also learnt alot during my months in business.

1 Business can be a lot of work, 2 is overwhelming at times.
I have learnt that a business can be alot of work but not in the way people normally think. There is always some small thing that needs to be done, from paying bills, closing deals, buying toilet paper, fix the heating to daily work. It is not the total time that is overwhelming, it is just that there are so many small decition/tasks that you have to do. And especially for me who is a new entrepreneur, it has been tough to keep up and I forget things at times. I have however found that the solution is to write everything down on a list.
Luckely, theese two business was very, very similar and ultra synergistic. However, I would never dream of opening 2 business at the same time that is not super compatible, if that.

Get a suit.
From what I have experienced, I really do believe everything became possible because from thefirst day I started the journey into fastlane, I have always had a suit on. From meeting with the bank, leasing companies, consultants, customers etc. The power of the suit should not be underestimated. Just from negotiation, I have probably saved 10-20k. People treat you better if you wear a suit and in turn, lower their prices, give better deals etc. However, you need to get a few things for it to work:
  • Charcoal suit if you are young, Navy if you are old. It till make you look older/younger
  • Black or brown leather shoes
  • Matching leather belt
  • White or light blue dress shirt
  • Some tie
  • Pocket square that has some of the colour of the tie, shirt, suit or leather
  • Suit has to be 100% wool
  • You have to tailor you suit
  • The brand is not important, you can get it second hand. As long as fits 100%, and then, you take it to the tailor to make it fit 110%
  • Get a dress watch
Try to get a mentor
This has helped alot. I meet my mentor 1 time every month and alot of the time, it is not very productive. No one will give you a ready blueprint which you can follow. However, she has told me a few ideas that can probably be summarised by 2 sentences which has changed the way I see how to do business on a larger scale

Consultants will probably suck
I have met so many consultants that does not live up to my expectations. Most of the time, they do a job, I am not happy and I learn their skill and do a better job. Then I have to teach them how to do their job. The solution to this I have learnt is to do a thourough background check before you hire them. See earlier work etc.

Always negotiate
If you get a price, that is not the price you will pay. You can lower it by 10-20%, every time. Remember the suit? Get one.

Marketing is important
Marketing is super important. I am fully booked in part of my marketing strategy. Understand SEO and have a consultant do it for you or learn it yourself and save cash.

If starting a business, learn webdesign, photoshop or Fiverr.
Paying someone to build a website for you can be expensive. Learn it yourself, it will probably be better anyway. Learn photoshop too.
If not. Fiverr.com is great for content.

If you break Entry in CENTS, you will become rich.
If you are able to break the Entry in CENTS, you have a business worthy of pursuing. like, how difficult is it for your competitors? Can you make it easier/cheaper for yourself. You very may be on your way to something big.

There might be 2 ways of thinking, try to find what works for you.
I have been thinking about business psychology during theese last months and I believe that there are people that think "wide" and people who think "tall".

Wide is people who want to do magnitude, find a decent product and then scale it, opening many but smaller things. Example Howard Schulz of Starbucks. Not nececary the best product but many of it. Because of amount of mass in the businesses, he can scale exponentially and cut prices and streamline the process.

Tall is people that want to focus on the one product. Example MJ DeMarco with his online taxi site. 1 but better product.

If I where to give advice, I would try to first understand if you are a "Wide" or a "Tall" thinker.
I am a "Wide" thinker. I want to open wide and more clinics. My partner is a "Tall" thinker, she just want to improve the clinic(s).
If you are trying to find a business idea, this might give some insight.

Be the stupidest person in the room all the time every time.
Always ask questions. Try to learn. Dont be afraid to let people explain things. Doing so will teach you so much.

Business is not for everyone and not everyone is for business
This is something I have really noticed. I have met alot of entrepreneurs this year but a majority does not understand business. You need to have a certain grasp on how things work and I believe you cant learn it in a book or in a class. It is something that has to be figured out and not everyone does. No shame in that and people is destined for various things. I for example is not destined to become a doctor, no shame in that. Tried and failed. But life has showed another path.

Its a fun ride and you dont know where you end up
When I was younger, I was 5 years in the military as a combat and demolition diver among other things. Later worked abit as a bartender/DJ, went to Med School to become a doctor, failed and now my priorities is what colour of womans nail-polish we will use. Life can be interesting and if you are on one path today, it can lead to another tommorow. Just adapt and enjoy the ride.
 
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Parks

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Glad to see someone else going to battle by expanding units and or franchising. Good luck man!
 

Kokaka

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Sorry! It's a common expression in latin countries. The meaning... instead of being connected to 220 volts, you go on 440 volts.
Aha. I thought it was something similar. That or AC/DC and rock and roll
Glad to see someone else going to battle by expanding units and or franchising. Good luck man!
Thanks man. Yea for me it is way more compatible with me as a person. I love to build things but when its finished, I loose interest so new units is the way to go.

Are you also expanding units and franchisinc and have some experiences yiu would like to share?
 

Kokaka

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Update of the week:
Hired a new employee
Fixed the signs
Got a new logo and branding
Hired an office space for myself.
Got my marketing campaign for the machine company
2-3 potentials sales for the machibe company

Coffers is a little low in the clinic but we are re investing investing like crazy. Still fully booked
 
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Kokaka

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Update of the week:

Machine company:
Got a new order for the machine company out of the blue. 20k more in profit so I broke 200k usd profit this year.
About 350k in turnover.

Have a ton of sales pending now. Seems I am entering high season. Have about 100k profit in people who say they will buy but havent bought and more and more call every day. I need to hire staff!

Have put up the machine company up for sale for 30-50% of the company. Should net me about 350-600k in profit.
I need a partner high in liquidity to turn this business international so I can spend and earn millions every month, but more help me with the business side because I dont have more time between machines and building a beauty empire with clinics.
The profit will go to turning the clinics international

Clinic Company:
The employee that was supposed to start last week didn't how up. Need to hire 2 more staff members for the clinic so I can remove my partner from working manual labour so she can focus on clinic number 2.

Clinic nr 2 is coming together. Planned the bathroom with the project manager. Still alot to do with ventilation, water, electricity etc.

Mental & Physical:
Last week I was able to do Muay Thai 3 times. This week I have done nothing because I tried a new anti wrinkle treatment and I cannot train for 7 days. Motivation is back!

Hiring the office space has been great. Productivity is high!

Working from about 09:00 to 20:00 every day now. Lots of energy.

Have gotten fat from the downtime. I need to pick up the training next week. Goal is 5 days.

Got accepted to study business economics for this semester at the uni. I would love to learn book keeping and administration but I dont know if I have time.
 
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D

Deleted85763

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Update of the week:

Machine company:
Got a new order for the machine company out of the blue. 20k more in profit so I broke 200k usd profit this year.
About 350k in turnover.

Have a ton of sales pending now. Seems I am entering high season. Have about 100k profit in people who say they will buy but havent bought and more and more call every day. I need to hire staff!

Have put up the machine company up for sale for 30-50% of the company. Should net me about 350-600k in profit.
I need a partner high in liquidity to turn this business international so I can spend and earn millions every month, but more help me with the business side because I dont have more time between machines and building a beauty empire with clinics.
The profit will go to turning the clinics international

Clinic Company:
The employee that was supposed to start last week didn't how up. Need to hire 2 more staff members for the clinic so I can remove my partner from working manual labour so she can focus on clinic number 2.

Clinic nr 2 is coming together. Planned the bathroom with the project manager. Still alot to do with ventilation, water, electricity etc.

Mental & Physical:
Last week I was able to do Muay Thai 3 times. This week I have done nothing because I tried a new anti wrinkle treatment and I cannot train for 7 days. Motivation is back!

Hiring the office space has been great. Productivity is high!

Working from about 09:00 to 20:00 every day now. Lots of energy.

Have gotten fat from the downtime. I need to pick up the training next week. Goal is 5 days.

Got accepted to study business economics for this semester at the uni. I would love to learn book keeping and administration but I dont know if I have time.
What kind of machine do you sell?
 

Kokaka

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Update of the week.

Clinic company:
The clinic is now closed for 15 days because of vacation, children and a beauty course.
Made the storefront very nice and will drop of the key to the business that does the windows

Machine Company
Sent 7 machines for service and repair
One of my customers asked for me to import a special machine to her. So I will travel to 2 countries next week to see what kind of dels I can make.

Currently, I have 3 big deals pending for between 35k-55k profit each. If I can close one deal, I will use the profit to open a clinic in another country and start by building my brand internationally.

One of my old customers has now becoma a retailer for me and the deal is that she will get 20% provision. She is working like crazy and I believe she will be able to sell 1-4 machines shortly. Should ned about 40k profit for me and a nice provision for her.

Physical & Mental

Starting to feel good.

Managed to work out 4 times this week.
 

Kokaka

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Update of the week:

Clinic Company
Nothing much has happend here because we have been closed.

Machine Company
Had training with my technicians
Repaired 1 machine for a customer
Repaired 1 of my machines
Serviced 1 of my machine

Sold 3 more machines for 55k profit that just came in out of the blue.

Physical and mental.
Been sick this week with flue and slight fever so had to just power through. Covid test was negative and Im vaxinated but a tiresome week.

Today I also hit the realisation of the magnitude of the profit I have made. I got the contract for a Porsche Panamera 4S that has been my dream car for years. I just need to get my driving licence now but will take an intensive class so I can drive my car.
Was quite funny at the dealership today as I inspected and got to sit in the car. The seller told me that I could start the car if I wanted but I replied "Sorry but I dont know how. I dont have a drivers license", where he laughted and gave me a slight discount.

Also, all of a sudden everything has become very real and I actually feel a little down/exhausted from all the profit and how fast everything is growing.
Before this, I was a struggling med student who could barley afford to pay rent to 10 month after, I can buy a Porsche cash and have money to spare with the profit I made just from this week alone.
Got a headache and a little scared when I realised this because this is the first thing I buy for myself.
But I guess its like Dan Peña says: "You have to practise success".
 
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Kokaka

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Keep going!
Thanks
Yes Im not going to stop.
Hopefully I can get a partner and investor soon to help me with business structure so I dont have to run 2 companies as a beginning entrepreneur myself and everything is just getting bigger and bigger at supersonic speed. In a few month time, I have clinic nr 2 aswell
 
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BizyDad

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Here is a thought...

Don't buy the car yet.

Save your money and hire someone to run one of the companies. This way you aren't giving up ownership.
 

Kokaka

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Here is a thought...

Don't buy the car yet.

Save your money and hire someone to run one of the companies. This way you aren't giving up ownership.
Yes that is a sound advice.
However I wont buy the car cash, I will lease it for 300usd a month so it wont affect my liquidity.
Also the reason why Im looking for a partner is to scale the business world wide.
Because if I can get someone with deep pockets and knowledge and contacts from international trade, we can open internationally next year and also develop machines 100% from scratch which will be more profitable and way more sellable. This way we could probably sell hundreds of machines every month.
I will however hire an account manager for the machine company asap as you said so atlest I dont have to deal with customers anymore.
 
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BizyDad

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You don't sound like a beginner entrepreneur. You've obviously thought some things through.

It sounds like your business has ridiculous revenue potential. Maybe find someone with the contacts and offer a revenue share? If you really need the deep pockets, I get it, but are you sure you need it?

There are so many ways to get capital, if you have a profitable business, you can potentially self fund. You just need the right person with the right contacts. Anyways, take it for what its worth. You got this Fam.
 

Kokaka

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You don't sound like a beginner entrepreneur. You've obviously thought some things through.

It sounds like your business has ridiculous revenue potential. Maybe find someone with the contacts and offer a revenue share? If you really need the deep pockets, I get it, but are you sure you need it?

There are so many ways to get capital, if you have a profitable business, you can potentially self fund. You just need the right person with the right contacts. Anyways, take it for what its worth. You got this Fam.
Haha thank you. Yes Im very new but I try to read up and learn as much as possible and take all the help I can get and listen to anyone who have things to tell and just learn as I go.

Revenue-share is a very interesting idea. I have not thought about it nor do I really know what it is but I will read up.

To be fair, it is more the knowledge and experience I need because the revenue here is just insane so I can scale it world wide in 3-4 years and milk the post covid economy where everyone wants to open business at the same time as much as possible.
My broker also seem to have some great ideas and contacts. He even spoke about buying one complementary company for 2 mil and merge it with mine and he seems to have a person who are willing.
Then we can scale this business up to crazy levels in just a few years.
 
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Rossoneri

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Very exciting/inspirational, I'll be following your journey while starting my own. Underrated thread on the forum. Keep it up
 
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Kokaka

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Very exciting/inspirational, I'll be following your journey while starting my own. Underrated thread on the forum. Keep it up
Thanks alot. Also this got me the motivation to start posting again.

Alot of things has happend since last update.

Clinic company:
Finally found a new employee who is very good. We are currently looking to expand a second unit to a neighbouring city about 50 minutes away and this employee lives there and commute to us.
The idea is that we will train her in our treatments and protocol but also to be the clinic manager when we open.
Downside with this is that we will lose her in this city and as such, some of her clients that she will build up. However I believe the advantage is huge because we have someone who can run clinic number 2 and train the staff she/we hire. This is good force multiplier.

On wednesday we will get a fantastic interiour designer who design VIP lounges in airports, luxury hotels etc to to our reception. This will be nice because we can then use the new A+ interiour in marketing. It looks decent as is because me and my college tryed our hardest. However because when we opend in february we had pretty much nothing to invest so everything is cheap IKEA stuff so will be nice to get some high quality furtiture, lamps, carpets, wallpapers etc. Should land on about 10-12k

We have changed our name which has hurt abit. Howwver it was neccecary because we are building a franchise chain with atleast 1000 clinics worldwide so we have now copywrited a good name and we will get the .com adress aswell as its listed for 7k.

The 2nd clinic shop space that I have been working on since may went to shit. They changed project manager to someone incompetent so it took her 5 month just to check the plumbing in the space. The plumbing is so that we cant open.
On the plus side, I have seen alot of other shops that has been vacated so will travel to the city this week and take a look.

Machine company
Have made about 150k more profit since last time.
Feels good. I have invested alot in clinic nr1 and it is almost complete.
I have bought a stock for about 50k with extra machines which my customer can borrow free of charge if their machine break during the warranty. I can always put them in one of my clinics in the future if I see I dont need this stock and solution.
Have about 120k on my bank account with expenses of just 1k/month
Have some orders I that are getting quite warm with a profit of about 100k on the way in.

Finally connected my phone number to a phone Exchange to my mechanics. I HATE when customers call me and their machine has broken, they have broken their own machine or they need service. It stresses me the hell out and destroy the rest of the day for me.
Hopefully this should fix the problem.

I really need to make a webshop and sell clinic and webshop consumabels. First its a great source of income and second, it will cut my costs alot when I open new clinics.
However, I dont know how to to eCommerce and the logistics its recuiring. However, Its something I can figure out.

Physical/mental

Been feeling like shit again lately. I have been identifyig the following factors:
  • Stress
  • Shit routine
  • No excercise
  • Bad diet
  • Overwork
Stress:
Hate when customers call and they need their machine fixed. Fixed this by connecting my phone to a phone exchange that leads service errands directly to my service center.
I lease the service center and their services because they are not my employees. This cost me a little extra every month but I can afford it and it gives me peace of mind.
I also have my machine stock in the service center so they can tinker all they want with the new machines and learn and understand them to give service over the phone etc.

Shit routine:
I have had no routine and this has been slowly killing me. I think because I have a military background and Im used to things being very strict and orderly.
I have started to exercise again 3 times a week the first thing in the morning. I identifyed that I tried to do to much too soon and it just led to burnout. Will stick to 3 times/week and slowly increase volume.
I also start to go to bed the same time and wake up the same time. Should help alot.

No excercise:
I am currently taking an intensive course for my drivers licence so I can get the car I bought. However, it takes time and when I cant work during the day because I drive and study, I have to work later and deprioritice excercise. I solved this by workning out first thing in the morning. Then the world can end but I still got my reps in that day in the gym.
I will wait a little with the fighting just to get my body back in order and not go to hard too soon.

Bad diet:
Been an intensive time so I only eat out. My bill for lunch and dinner lands on about 1k/month from frequent resturant visits or take away. Will go and buy some food so I atleast can cook 3-4 times/week at home.
Drivers licence and my car will help in the future so I can buy bulk. Now I walk to the store and can just bring 2 bags home.

Overwork:
Before I started this venture I was a struggling med-student trying to catch up while also working at the ICU with the Covid patients so I could afford to pay my bills. Then I started 2 businesses almost at the same time and both has been huge sucesses. It is just so much responsibilities, decisions and brainpower that is being used every day and to be fair. I do feel quite exhausted.
I have however booked a trip to south america for 6 weeks over christmas and new years where I can finally relax a little and get some RnR. This is my 3'rd vacation in my life so sould be good.

Engineers are online to help any customers.
If someone wants to buy something they have to send a mail
Clinic has 3 staff working now and it runs automaticly so I can leave it alone

I have also come to the realisation that I dont understand money or cash flow and what varous number means.
Last week I have about 60k in the machine company accound and I became stressed out that a trip to south america was 2k and almost didnt go because I thought it was too expensive. The week after the money in the bank doubbled.
Maybe it is something you learn how much you can spend every month and it comes with experience?

So yeah, this pretty much sums up the weeks from my last post.
Maybe it something I have forgotten but hopefully I will post more frequently because its quite fun to read what the heck I have been doing up untill now
 
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Angelos

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Hi all.
So this year has been a ride and Im thinking about writing a progress blogg to get input but also to organise my days. Maybe I will get some good advice and maybe others can get some ideas.
This all started in june last year with my first business which was a beauty clinic where we rented a room in an existing clinic with just my partner who did treatments, turnover was about 5k a month and 1k profit. In december, I got the idea that I could sell machines to beauty clinics to others. The advantage with this was that I could buy machines from myself for the purchasing price and sell to others for retail price, at 30k for basic machines. Win-win.
Took a 3 day business trip across the world to a company that sell machines and one business lunch later, I had an agency.
In december, I made 110k in sales with 35k in profit from 3 machine sales. I put the profit info opening my own Beauty Clinic in February.
This was fantastic since I was a struggling med-student with 0 capital with alot of student debt so having this 35k was a godsend.
 

Angelos

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Congrats!
Can you tell us more details about how you bought the machines and how you sold them?
Do no tell the exact product but how you found the supplier(which country) and then how you bought them( you said you have limited capital) and how you sold them to clients(ads, cold phones,website)?
P.S. Sorry for my english,this is not my native language
 
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Kokaka

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Congrats!
Can you tell us more details about how you bought the machines and how you sold them?
Do no tell the exact product but how you found the supplier(which country) and then how you bought them( you said you have limited capital) and how you sold them to clients(ads, cold phones,website)?
P.S. Sorry for my english,this is not my native language
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.
 
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Kokaka

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Short update:

Clinic company:
Had a designer visit so we can redo the reception to A+ standard. The clinic is too small as is but atleast it will look nice while we look for a bigger space. Will move in about 6-12 month and Im looking to build value and not money here so I think its a good investment. Will use the reception for markaging etc.

The huring of my 3rd staff member has gone just as planned. This made me remove my partner 3 days a week for 4 hours so she can help improving the product, treatment, teach the staff etc.
Goal is to have her removed from doing treatments alltogether by summer next year so she can learn new skills, new machines and teach our staff

Next week will look at 4 new locations at a neighbouring city to open clinic nr 2.

Machine company.
Managed to fix 2/3 broken machines.
1 is sent to service.

Made 3 new deals and a profit of 65k.
Tomorrow I will have training with 2 customers and a demonstration for a doctor who wants to buy a big order whick will generate a profit of another 60k

I applied to copyright a name of one of my machines but it was too similar to another, existing machine. Will see next week how I can solve this.

Marked a business meeting with a friend of mine next week and we will discuss about opening a websop that sell consumables, small machines, furniture and simple equipment for clinics. This means two things. I build another source of income from eCommerce and I can also get a huge discounts for consumables for my clinics. Should save about 500usd/month per clinic and lower initial investment for every new clinic by about 10-20k but also income in the form of sales.
Im just copy a strategy Dan Peña tokd in one of his youtube videos. "Find a good salesman and build a business aroubd him".

Physical/Mental
Hit the Gym 2 times so far

Cooked my own food 2 times this week

Still feel exhausted even though I have worked less this week.

Passed my theory test for the drivers licence. I have about 4 classes left and I can do my final test and I believe that I can really relax after. Also will help alot beign able to drive everywhere since Im getting tired of goibg by buss and train everywhere and too cold to bike
 
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Kokaka

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Random update.

Machine company
Made a giant order to 2 doctors however, 2 days after they signed the contract they wanted to withdraw the order really bad. I let them because I want to keep a good reputation and create value because value is more important than money. Too bad because that profit would have been quite nice.

Just some random stuff off sending things back and forth.
Seems Im over my peak because now its a little calm. Good because I need time to work with other things and its good to get a breather.

Clinic Company.
The staff I hired has been better than expected. After 2 weeks she is fully booked so now we have 3 staff thats fully booked. I need a bigger place.

Im looking to move in next door who is twice as big. And because its just an empty hull, I can design it just as I want with my interior designer Im using and make a AAA+ clinic from the ground up.
Then I can charge 10-20usd more per treatment which will lend a net profit of 20k-30k extra per year and the investment will pay itself.

I also noticed 2 rooms is way to small when it comes to staff. As is now, I have a rolling scedule which works. Problem is I work with women thats 25-40 year old so they either have or will have children. This means they are home alot and it messes with the scedule, bookings and the saticfaction of the customers. If 1 is away from work, the other is in the clinic alone. I dont want that. Thats why I need 3 rooms so if one is empty, the other 2 can take some of the treatments that day.

I also went to the neighbouring city today to look at 3 new locations. 1 really catched my eye because it has 2 levels with an open second floor, big windows and preinstalled water in the 3 treatment rooms I want to build.
Good location and cheap rent.
Downside is that I have to pay 100% of the cost
Upside is its very little I have to do because it has good water and ventilation.

I have calculated with very shure numbers every clinic will cost me about 60k to build and will give me a profit of 60k/year (with 2 rooms, my new clinics will have minimum 3). So its a good place to put the profit I make from the machine company and in little time, the clinics will eclipse the machine companies profit.

Physical/mental.
Got my excercise on track
I have eaten more at home

Im also going to be a father in 8 month time so now I have a deadline to finish the 2 clinics. This is just what I needed to kick my a$$ into gear again and now I feel really good again. I have realised Im either in first or fifth gear. Theres no inbetween for me.
 
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capito

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I don't know if I understand your business well, but it's nice to read about your progress. All the best!
 

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Random update.

Clinic company.
We are going for a 5 week vacation tomorrow. However, we now have 2 staff that are well versed in all the routines of the clinic. We have also made routines that they can follow when we are away. This will be a fantastic training excercice for the staff and for us since we will know the scalability and if the clinic can run itself with what we have.
Also traveld to another city thats about 1.5hours away to inspect the city(helps alot to be able to drive now) who is just there for the takning. Very rich city where the demand is very high but supply is low.

Also a former customer of mine for the machine company called and asked if he can open with a franchise agreement under the clinic companys name. I have 2 ways of adressing this.
Option 1: Get a franchise agreement.
Pro: Easy
Con: Low controll of a beginning product, cost 25k to get a franchise consultant to get agreement ready.

Option 2: Open with a 51/49 split
Pro: Controll, more profit
Con: Work with a partner, more work.

First, I want to travel to his city and look at where he has his business now. If the location is bad, will not do anything.
If its good, we can proceed in negotiations.

Machine company.
Made a few more sales again.
I have also started to work with a fantactic med-tech consultant who is expensive as hell but she gets the job done.
I understand why one of Dan Penas rules is to work with, especially Lawyers and Accountants you cant afford.
She will help me with alot of things that have stressed me in the path.
Best 20k spent ever!

Yearly summary
Been an entrepreneur for just a year now. Been a heck of a ride. Learnt alot, stressed alot but also know where I belong and what Im meant to do.
I started with 20usd and 2 empty hands, no education and no connections but made the following.

Clinic company1. Fully invested
165k turnover, 55k profit
2 Full time staff + Partner, will hire 1 more

Machine company
600k turnover, 300k profit
3 medtech engineers, 1 secritary

Stock
60k

Yearly profit after reinvestments
160k

Plans for year 2

Open 2 new clinics. Should cost about 130k for both. Will get a business loan with 10-20% personal bail. That means I am only liable for 13-26k but have raised 130k. I will never use my own money to invest if I can avoid it. Good stuff.
Should net me a profit of about 150k during the first 12 month.

Hire account manager for machine company.
Open an office/showroom/training facility for the machine company.
Maybe hire an CEO.
Maybe sell off 49% and get a partner who can help with structure and scalability.

Edit: Forgot that my wife is pregnant and she is from Brazil. She want to give birth over there and stay there for maybe 6 month. Thats fantastic for me because my plan is to open the clinic company and the machine company over there aswell.
Problem in the past is that the Brasilian customes are very difficult to work with. However the solution to this is my med tech consultant since she has worked with Brazil and exporting med-tech over there. Also because my wife is brazilian, I can get the companies 51% in her name which is mandatory and I own 49%. Then I have 6 month to open to businesses over there aswell.

Looking forward to year 2.
 
Last edited:

BizyDad

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Kokaka

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That's only year 1. Hahaha. Awesome job. Congrats.
Thanks.
Yeah, I cant complain.
Actually, I usually joke that I only have luxury problems. I grow too fast that my experience, and skill level is just trying its hardest to keep up. It feels sometimes like the companies are held togehter by duct tape and superglue.
Thats why I am in negotiations with an investor to sell a part of the machine company just to have someone experienced be able to build a structure so we can grow fast.
Because I have the capacity to expand next year to all of northen europe and Brazil if I just have the right people around me.
I have gotten 1 offer as of yet of for 100% of the company for 930k which I declined.
Problem with this offer is that I have to be employed by the company for 3.5 years with a salary of 5k/month.
In that time, I can grow it alot more.
 

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