Location, Location, Location
It’s something estate agents talk about ALL THE TIME, but often, when you choose a location for your aesthetics clinic, the things you need to consider when choosing the Goldilocks location are often overlooked.
It sounds obvious, but choosing the right location for your aesthetics clinic is crucial for the success of your business. The location of your clinic can significantly impact your business’s visibility, accessibility, and overall reputation.
Most practitioners will look at the cost of rent, rates and utilities, how much decorating needs to be done, how convenient it is for them - which are all VERY important factors to consider, but here are EIGHT things you should be thinking about when determining the ideal location for your aesthetics business:
1. How close are your Perfect Patients?
Consider the proximity of your target audience.
You want to be in an area where potential clients live and/or work. For an aesthetics clinic, this might be in or near urban areas, upmarket neighbourhoods, or business districts, depending on your specific patient demographic.
Analyse the demographics of the area you are considering setting up your business.
Consider the age, income level, and lifestyle of the local population to ensure that there are enough of your Perfect Persona’s nearby to support your business.
You can then confidently tailor your services and marketing strategies to meet the preferences of your potential patients.
Remember, aesthetic treatments, by their very nature, are luxury/non-essential treatments. You need to base yourself where there are sufficient people nearby who can afford your services.
Let’s take a look at how this plays out and how you can carry out your research.
Head to Rightmove https://www.rightmove.co.uk/house-prices
Enter the post code of the area you are considering setting up your business.
For example,
Chalfont St. Giles - HP8 4HG
“Properties in HP8 had an overall average price of £1,241,410 over the last year, with the majority of properties sold being detached properties. Overall, sold prices in HP8 over the last year were 10% up on the previous year.”
So it’s clear that this is an affluent area!
Let’s compare that with Blackpool - FY1 1AN
“Properties in FY1 had an overall average price of £110,784 over the last year, with the majority of properties sold being terraced properties, selling for an average price of £103,600.
Overall, sold prices in FY1 over the last year were 3% up on the previous year but 3% down on the 2007 peak of £113,759.”
The demographics of these two locations are obviously at opposite ends of the spectrum, but it’s important to recognise that the level of wealth in an area is indicative of how likely people are to a) have the time and resource to invest in luxury treatments and b) are often more likely to be in the privileged position to invest in looking after their wellbeing and appearance.
To determine, with more accuracy, whether the locations you’re considering are going to work from a demographics perspective, you can use tools like Acorn.
When you add each postcode for Acorn, it’s clear to see that they are very different areas in terms of the wealth, lifestyles, professions and age. You need to ensure that you base your business where there will be sufficient people, who fit your perfect persons…otherwise you will struggle to create a viable business.
2. What’s the competition like?
You’d be daft not to research the competition in the area.
You need to understand the market in which they already operate, understand how other aesthetic practitioners have positioned their businesses, how they present themselves, their strengths and weaknesses, so that you can find the whitespace to occupy. This helps you immediately differentiate yourself from the competition.
Remember, whilst people will travel for great aesthetic treatments and a phenomenal experience, you can only command this level of commitment to booking you once you’ve established your brand.
3. How easy is it to get to you?
Ideally, your clinic location is easily accessible, regardless of how your patients get to you.
Choosing a location that is easy to reach, by foot, by public transport or by car is key.
Equally, if you choose a location that is “off the beaten track”, at least have dedicated (or nearby) parking that means people aren’t struggling to get to clinic.
4. How visible are you?
Aesthetic clinics where the brand is strong, signage is clear and attractive and the location benefits from road or foot traffic have the added benefit of being able to quickly establish brand presence and become front-of-mind for those considering treatment.
Are you on a high street? A busy intersection? In a shopping arcade? Near a train station/tube stop?Somewhere where people can see your brand.
5. Do any local regulations apply?
As well as CQC, HIW or HIS registration, there may be local requirements specific to your local council.
Check local regulations or licensing requirements so your chosen location complies with these regulations to avoid potential issues later on.
6. How much is the rent and rates?
Really understand the rental and operating costs associated with the location and premises.
Make sure you’re aware of all the associated costs with the location you’ve chosen - deposits, rates, broadband, electricity, heating, insurance - and factor these into your decision.
While prime locations can attract more clients, they often come with higher rent and rates, so you will need to balance the potential revenue with the costs to ensure profitability.
7. Does the location align with your brand?
Ensure that the clinic location aligns with your brand image and target market. For example, if you're offering a high-end service, with a price-tag to match, setting up on a street lined with charity shops or betting shops is not a great idea.
Equally important is locating your business where there are other businesses which are likely to draw in your perfect patients. Not only will you get incidental brand exposure, there are easy opportunities for you to collaborate with neighbouring, but not competing, businesses providing excellent networking opportunities.
8. Will you be able to grow/expand from there?
Consider the long-term growth potential of the location. Is the area developing, and are there plans for infrastructure improvements that might increase foot traffic or property values?Think about your future plans for the clinic. Does the location offer flexibility for expansion if your business grows? Having room to expand without relocating can save you time and money down the road.
Equally important is being able to start your business with reasonably low operating costs, so think about short-term leases or ad hoc room rental to test the market and your proposition, before committing to a long-term lease.
Choosing the right location for your aesthetics clinic requires thorough research and consideration. By taking the time to evaluate all relevant factors, you can increase your chances of establishing a successful and profitable aesthetics business.