MedSpa von 3 auf 20 Millionen: Der Wachstumsplan

0:00Unternehmer/Gast I own a um, wellness, weight loss, men's spa. We do a million things and I've learned a lot from being here, so thank you. >> What's revenue? >> Um, currently hovering around 3 million. >> So, you do you get $3 per thing that you do? >> [laughter] >> I wish it was that way. >> [snorts] >> Okay, so you're at three, you'd like to be at >> 20. >> Okay, next week?

0:27>> years. >> Yeah, okay. >> 2 to 5 years, maybe. I'd love to have other >> or multiple? >> I have one location. >> Through one Do you want to get to 20 through one location or multiple? >> No, multiple. >> Okay, got it. Um, okay, so what's stopping you? >> Uh, well, bandwidth. >> Okay, so so what's stopping you from doing more? >> Time, money, man. >> You can't afford to? What are margins?

0:51>> Well, so I I My EBITDA is around a million. >> Okay, one on three is good. >> Yeah. >> Okay. So, it's not money. >> Yeah, >> [sighs] >> maybe. >> Okay. That sounded complicated. >> [laughter] >> Well, what I think my EBITDA is is is different when when you Anyways.

1:17Then what my CPA think my EBITDA is. >> Did they say it was less or more? >> No, so they So, on my P&Ls, my you know, >> Yeah. >> it's listed as, you know, your EBITDA is your >> Yeah. >> your gross >> before interest and taxes. >> Yes, yes, yes, yes. So. >> What was your I'm guessing is it a cash flow issue? >> No, it's not a cash I think it's a sales issue, to be honest with you, cuz a lot of like with everything else >> [laughter]

1:42>> It's sales and we're word of mouth >> Real talk, so at the beginning of the month versus the end of the month, how much did the bank account go up? >> Um, s- >> On a monthly basis. >> Okay, so probably around 20 to 50 grand. >> Okay, helpful. So, the EBITDA stuff that they might be making adjustments, I'm guessing you're buying lasers, you're buying some equipment, and that's >> Well, there's yes.

2:07>> Impacting cash flow. >> Yeah, I I think cog, so um so I do think some of my labor is not being in in my cogs, essentially. >> Okay. >> And I think it should. So, it's a bookkeeping issue. >> She is wrong. You think you make less money than she's saying you make. >> No, she thinks I make Well, okay, so I have a gross income and I have a net income. >> Okay. >> After everything like I have a 401k

2:33>> income? >> Well, I have a 401k for all of my employees and insurance. So, my net income, which includes interest and tax [snorts] and depreciate includes all of that. >> pretax income of the business. >> Yeah. It's around 700,000. >> What? Okay, great. Okay. So, three three million top line, $700,000 bottom line. >> Yes. So, it's not it's not a money. I think it's more of a bandwidth and it's a sales issue.

3:00>> Okay, but you have three So, you have $700,000 in profit that is coming into the business. >> Yes. >> Okay. Now, you're saying bandwidth. Is it your bandwidth or like >> bandwidth. >> Okay, got it. So, >> because I'm practicing. >> Okay, so you're in the chair >> Yeah. >> functionally. >> Right. >> Um >> and literally. >> Yeah. So, are is that include your salary the 700 or no? >> Uh yes. >> So, you get paid and then the business makes 700

3:28>> I take draws, but yeah. So, my net would would be it's included in that. After after everything is done, it's 700,000 is >> And you get you eat out of this 700. >> Uh before the 700. >> Okay, so you have a salary. >> Yes. >> Or whatever. Like your salary your salary discretionary earnings. Okay, so what are you paying yourself? >> Uh that's That's a lot of questions. >> care how much you make. I really promise I don't.

3:54>> So, what am I Okay, so I take a medical director draw and then I just take profit sharing draws. So, I pay myself as the medical director, which is very little. Please Please no one turn me in. >> No, no one no one cares. So, let me explain. So, like imagine >> around 200,000 or so. >> Okay, thank you. Okay, so 700 bucks to 900. >> Yeah. >> Okay, so about a million bucks a year. >> Yeah, that's what I said. >> you. Okay. >> [laughter] [cheering]

4:27>> Getting hot? >> [laughter] >> Okay. >> Sorry. >> [laughter] >> Okay. All right, so you're making a million bucks a year from your 3 million. What are the other 2 million dollars in costs? Is it all like what's where where's your cost basis coming from? >> Um, so >> I'm asking this question cuz I want to figure out whether you need more head count, more skilled head count, or you just need to choose to do fewer things. >> I need to Yeah, I have to do fewer things.

4:54>> Okay. So, of the many things you do, which are the most profitable? >> Um, uh, weight loss and concierge. >> Okay, got it. And then how much of that uh of your time does that take versus how much it makes? >> Um, so it takes about I mean, it's just going to So, if I had to divide it, it'd be >> not just rough. Just rough.

5:17>> 80% of my time is being a physician, 20% of my time is being a business owner. >> Okay. Um I'm saying I'm trying to figure out what the highest use of your time is and then get you to not do the things that are not high use of your time. >> Yeah, I know. I get it. >> the 700 or 900 that you're making, would you be able to find another physician for $200,000 a year to do what you're doing inside the business?

5:42>> in part-time at least. >> Okay, well, I mean, so what stops you from paying someone $200,000 a year and getting all the time back? >> Cuz I'm trying to find a unicorn. >> Okay, what does this unicorn do that Like cuz weight loss is not hard to find. >> Well, true. We have a great, wonderful culture and it's somebody that will a physician that will spend the time, have the empathy. >> in the culture?

6:09>> True. >> You'll be the owner. >> Yeah. >> I'm still involved in the culture. >> True. Yeah. >> Okay. >> And it's it's not hard to find. I just have to do it. >> Okay. This is great. >> [laughter] >> So, we need to hire a doctor using your $200,000 a year salary to give to hear him, she's sorry, she or whatever person. Um and then you'll have your $700,000 left over and then your question is like with all that extra time that you have, do you think you can make the business run better and make more money?

6:43>> Yes. >> Okay, great. I love this for us. >> [laughter] >> Okay, and then yeah, you probably do have some sales issues, but in terms of like how are we going to get you the bandwidth to solve the sales problem if you're already scattered then? >> Right. >> Right, cuz right now I'll bet you have a lot of half-built bridges. Right? And so like we don't need to start building more. You start removing the like everything that's taking all your time so that cuz like now if you had said we're doing $400,000 in profit um and my comp is included in that, I'd be like we probably have some business issues and unfortunately we can't pay you else to get in yet cuz it's too thin. So, you got to fix a bunch of other stuff. But given the fact that you got roughly 30% margins from a seller discretionary earning perspective um like business is okay. Could you probably improve the sales process?

7:29Basically every medical company can. Um so yeah, is it the constraint? Probably not. Cuz if you made an extra $300,000 in profit would that change your life? >> Mhm, not really. >> Okay, so the sales so then like the sales isn't the constraint. That might occur if the sales got fixed. The issue is your time. >> Yes. >> Right, so we need to go manpower.

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