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Top 10 Skin Care Industry Trends From Face & Body Midwest 2012
Posted: March 19, 2012
The show floor was hopping with attendees investigating new techniques, purchasing products and visiting with their favorite suppliers.
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5. Understanding stem cells. Recently, research into using stem cells— both human and plant-based—has increased. It is important to understand why this category of ingredients is compelling to the skin care industry.
6. How to use C-corporations as a business advantage. According to Advanced Education Conference Program presenter Larry Oxenham of the American Society for Asset Protection, “If you are in a federal tax bracket higher than 15%, you could reduce your taxes by setting up a Nevada C corporation and having up to $50,000 of your income flow to this corporation, which has no state income tax and has a federal tax rate of 15% on the first $50,000 of taxable income. Your corporation can retain these earning so you are not double taxed. This is one strategy you can use to spread income. If you had a personal marginal federal income tax rate of 28% and a state income tax rate of 7%, you would pay $17,500 in federal and state income tax on that $50,000. If this $50,000 flowed to a Nevada C corporation instead, you would only pay the federal corporate tax rate of 15% or $7,500, saving you $10,000 in taxes.”
7. Educating the client. Tracy Drumm of IF Marketing offers the following formulas for success.
- WIFM—What’s in it for me?
- TOIB—Teaser, offer, immediacy, brand
- SIMPLE—Staff education, image, medical credentials, patient education, loyalty and retention, external
8. Being active in industry regulation. To be successful as a skin care professional in today’s industry, it is necessary to become more aware of the regulatory issues that affect how you provide services. Do not forget that regulation of the profession is provided by state regulatory boards, and that, as science and technologies evolve, so must you.
9. Offering results-oriented and whole body wellness-based products and services. You know that the spa is no longer for pampering—it’s an extension of your clients' health and well-being. Team your treatments with effective at-home products to give your clients the lifestyle they deserve.