MAY-JUN 2017

MedEsthetics—business education for medical practitioners—provides the latest noninvasive cosmetic procedures, treatment trends, product and equipment reviews, legal issues and medical aesthetics industry news.

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Page 35 of 67

Pros and Cons The No. 1 benefi t of private labeling is exclusivity. "Patients can only purchase a private label product from the physician offering that line," says John Kulesza, founder and president of Young Pharmaceuticals, a skincare company that offers both branded and private label products. Additional benefi ts include the ability to build your brand through your private label line and offer cost savings on high quality products. Jessie Cheung, MD, of the Dupage Dermatology & Laser Center in Willowbrook, Illinois, chose to create a private label line for her practice because it allowed her to develop unique formulations that she believes in. "The products contain the exact ingredients I want, and it allows me pass the savings on to my clients," she says. "In addition, these products can't be price-shopped on the internet." Angelia Inscoe-Rankin, CEO of skincare manufacturer Induction Therapies, notes that because these lines are exclusive, physicians can set their own margins based on what their local markets will support, and the lines double as a marketing tool. "If a friend says my skin looks fantastic, I can give her my doctor's information right off the bottle," she says. Private label products also increase loyalty and serve as an ongoing market piece for existing patients. "Every time the patient opens her medicine cabinet, she is reminded of your brand and your practice," says Kulesza. The fl ip side of exclusivity is consumer uncertainty: It's natural for people to question something that's new and potentially unproven. They may gravitate toward recogniz- able, branded lines rather than take a chance on an exclu- sive one. "When a product shows up in Allure magazine as a celebrity favorite or is featured on a morning show, patients are going to pay extra attention and come into the offi ce seeking that product," says Delaram Saidi, founder and principal of DS Group Consulting. Branded product lines also offer a signifi cant amount of marketing support to the practices that carry them, includ- ing product displays, testers, samples and marketing materi- als, as well as access to educators who will train staff on retail sales and individual product benefi ts and indications. Therefore, it is crucial for practices considering private label to ask their suppliers what type of marketing and edu- cational support is available and request ongoing training for staff, so they can educate patients on the active ingredients and help promote the in-offi ce line, says Kulesza. Many private label formulators have graphic designers on staff to help you develop your logo and offer collateral materials like sales sheets, shelf talkers and samples. "We also encourage practices to host an event and have either myself or one of my reps come in to help promote the new line," says Inscoe-Rankin. "It's the doctor's line, and we are presented as the company that helped formulate it." In order to take advantage of the benefi ts offered by both private label and branded products, she recommends 34 APRIL 2017 | Med Esthetics PRIVATE LABEL SUPPLIERS If you are interested in launching your own private label, the following companies offer private label products and services. • Biddiscombe Labs 800.258.3313, • Clearly Beautiful 866.704.8572, • Clinicians Complex 800.826.4480, • Cosmetic Solutions 888.883.0540, • Global Beauty 866.290.4290, • GSC Cosmeceutical 925.371.5000, • Hale Cosmeceuticals 800.951.7005, • Induction Therapies 877.746.4407, • Phytoceuticals 201.791.2255, • Topix Pharmaceuticals 800.445.2595, • Young Pharmaceuticals 800.874.9686, © GETTY IMAGES GO YOUR OWN WAY "If a friend says my skin looks fantastic, I can give her my doctor's information right off the bottle."

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