Silk Laser Australia has recorded a 91 per cent increase in network cash sales for the nine months ending 31 March 2022.
This figure reflects the seven month inclusion of Australian Skin Clinics and The Cosmetic Clinic networks, businesses acquired in September 2021. It also includes like-for-like cash sales up 4 per cent to $101.6 million.
A substantial 45 per cent of the revenue has come from injectable services which generates higher transaction values, margins and repeat purchases.
Business strength
Silk founder and managing director Martin Perelman believes Silk’s performance highlights the strength of the business as it has been trading through challenging macroeconomic conditions, including Covid-19, record rain events along Australia’s east coast, and a national labour shortage.
“The foundations of the Silk business are strong, especially as we continue to expand our service mix – growing the share of the injectables category that is especially resilient, even in a tough operating environment.”
Three clinics have been opened so far this year and up to 10 clinics are expected to open in the next 12 months. Since FY20, the network has grown from 52 clinics generating $6.2 million of EBITDA, to 121 clinics across Australia and New Zealand that are forecast to deliver FY22 EBITDA of at least $20 million.
Silk recently scored a 5-star franchise rating on the Australian Franchise Rating Scale. It is the first health and beauty brand to be recognised as a high performing business on this scale.
The rating was allocated after a fact-based assessment is conducted across seven key categories by business intelligence and information advisory firm FRANdata.
Read more about Silk Laser Clinics here.
