Considerations for Purchasing New MedSpa Equipment
We both know that running an Aesthetic Practice or MedSpa is about providing the best services for your clients. Most of your clients probably have high expectations, which means that your team & operations need to be top-of-the-line.
However, when it comes to upgrading or investing in new technology, timing has a significant impact. Today, I am going to share the pros and cons of investing in new equipment. This year of all years, you should be able to negotiate a good deal and get great rates on both equipment and financing.
Benefits of Buying Tech At Years End
+Best deals and discounts of the year
+Offset tax liability under section 179 (up to $1,000,000 per piece of equipment for 2019)
+Provide additional service offerings
+ New year, new tech advantage for marketing
Disadvantages of Investing in New Tech
-Huge Investment -Lack of demand by your clients
-Unprepared or unmotivated sales team
-No marketing strategy for new tech
-Substantial ongoing expenses
Here are a few other considerations you should make before you buy new MedSpa equipment.
+Talk to other owners
+Do not buy impulsively
+Do not be afraid to negotiate terms
+Ask for bonuses (i.e. extended warranties, free consumables, and marketing support budget)
As you consider buying new aesthetic equipment this year, consider these points before moving forward with your decision. You must understand your market as well as the advantages and disadvantages of the particular technology under consideration.
Be prepared to negotiate for a good deal, and permit yourself to walk away if the purchase does not feel right to you. Here is the bottom line: this is your aesthetic business, and you know your team and clients better than anyone else. Take advantage of a good opportunity- but make the best decision for YOU!
Need help deciding whether purchasing new equipment is the best decision for your business? Contact me and I will be happy to help!