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Babak Moini - 'The global economical crisis & it's impact on aesthetics' #185
Inside Aesthetics
English - October 20, 2022 19:30 - 1 hour - 100 MB - ★★★★★ - 75 ratingsMedicine Health & Fitness Business wellnesspodcast australianpodcast cosmeticpodcast cosmeticsurgerypodcast drjakesloane injectablepodcast Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Episode 185 hosts Babak Moini, co-founder of Laser Clinics Australia. Babak previously joined us back in episodes 45 and 59, where he shared his story and his predictions for what the COVID-crisis would mean for aesthetic businesses.
Two years on, we reflect on the post-COVID era and the current as well as predicted global economic crisis that is looming.
We explore:
Babak's current view of the Australian aesthetic market Some of the key trends that have emerged since our last podcastWe then discuss the financial issues including:
Whether the predictions he made in April 2020 were right, wrong or are simply delayed and still going to happen The post-COVID demand for injectables and what this showed about the resilience of the market What our governments did to cope during COVID and the hang over effects of these including:- stimulus payments and printing money to fund it
- borrowing more money, increasing national debt
- the effect of lockdowns & stimulus payments on the labour force
- why this has caused hyperinflation, climbing interest rates and the implications of these problems
We then brainstorm some countermeasures that clinics can take including:
How to audit your business and better understand your margins and profitability How to improve cash flow How to negotiate with suppliers Managing debt
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