As Sk:n Clinics Collapses, is the UK Over Aesthetic Treatments?
On 17th July it was announced that the Skn Group, owners of sk:n clinics and more, had ceased trading.
This sudden and unexpected news shocked the UK aesthetics industry. Furthermore, it reportedly left around 800 people out of work.
As the industry rallied, clinics began offering opportunities to patients and practitioners. However, the collapse of this popular high street aesthetics chain has been unsettling.
Injectors are rightly asking, what does this mean for aesthetics in the UK? Is there enough patient demand?
Here we discuss the ramifications of the sk:n clinics closures and why we don’t believe this is cause for undue concern among aesthetic practitioners.
Why did sk:n clinics collapse?
This is the big question on everyone’s minds.
The Birmingham-based company was billed as “the largest network of specialist skin care clinics in the UK”. Launched in 1990, it employed more than 450 medical aesthetics practitioners across its many locations. These included clinics in Manchester, Liverpool, Glasgow and 17 in London.
Skn Group announced it had gone into administration via a statement posted to its website. This read:
“It is with regret that we advise that the Skn Group, including sk:n, The Harley Medical Group, Skinbrands, The Skin Experts and ABC Medical has ceased trading as of July 17 [2024].
“The Mole Clinic is a separate part of the group and continues to trade as normal.
“The company has undertaken an extensive process to secure investment to enable it to continue trading but sadly we’ve been unsuccessful.
“We recognise this outcome will have a significant impact on our team members and our customers and we are deeply sorry for the stress and inconvenience this has caused.
“We are doing all we can to address the concerns of those affected and will be contacting all clients still awaiting test results as soon as possible. All further updates will be provided on this website and when available.”
Unable to secure funding
At Harley Academy, our two training clinics - The Academy Clinic - treat over 1,000 patients per month. We can tell you that operating on this scale is an expensive business!
Whilst no reason has been given for the collapse, as the statement says, the group had failed to find funding.
Having solid financial backing is so important for a business of this size. This is a lengthy process which we have recently been through ourselves.
Not only is it challenging to find an investor that’s a good fit, it’s also a rigorous data-heavy process that can take years to come to fruition.
Though we don’t know why, it’s definitely sad to hear that such a huge brand and UK employer was unable to find the support it needed.
We’ve been heartened by the way the industry has rallied around those affected, however.
Many clinics have offered discounts to patients who had appointments booked, often with deposits already having been taken. Social media has also been flooded with offers of support for injectors who’ve lost their jobs as a result.
Does this mean UK demand for aesthetic treatments is falling?
In our experience, of our training clinics and private practice at STORY Clinics, we do not believe demand for aesthetics treatments is falling. In fact, quite the opposite.
We’re consistently seeing it growing stronger with new patients entering the market regularly.
This is borne out by anecdotal reports from our peers across the country, as well as by research data.
Medical aesthetics has a 10-15% growth rate in all major markets
Harley Academy founder and CEO, Dr Tristan Mehta had this to say regarding industry demand in aesthetic medicine.
“The whole field of medical aesthetics has a growth rate of 10-15% in all major markets. Toxin and fillers are traditionally the backbone of this growth. They are high-impact, low risk and repeatable.
“But a current dip in interest is reported across the sector. Are injectables no longer the cornerstone of medical aesthetics? Not likely.
“Even during economic hardship, interest in spending on injectables is resilient. These treatments offer real value to our patients,” he confirms.
Demand for cosmetic injectables is growing year-on-year
Global management consultancy, McKinsey & Company has produced interesting research papers on the aesthetic medicine industry.
It found that “Many consumers are still spending; they are just looking for more cost-effective products and treatments”.
Findings from a December 2022 study showed that, in the event of a recession, “Only 7 percent of respondents across the neuromodulator, dermal filler, and facial-rejuvenation segments expected to stop their treatments entirely.”
It was also noted that, globally, 45-65% of the market is owned by aesthetics clinics and medi-spas. Beauty businesses accounted for just a 5-15% share.
Almost double-digit growth expected in 2025
McKinsey also reports that the medical aesthetics market for the US and Canada “remains on track to maintain near double-digit growth in 2025”.
Customer demand for cosmetic injectables is growing globally, with drivers including social media, product development, and more accessible pricing.
As McKinsey states, “Our analysis across all medical-aesthetics product segments indicates a high number of “fence sitters”—consumers who say they will try a product or treatment within the next five years, specifically including the next 12 months. Fence sitters are an important indicator of future growth potential in an industry.
“When we compared fence-sitting data in the 2021 and 2022 surveys, we observed that the phenomenon remained unaffected by significant changes in the macroeconomic environment in the latter year—and in some cases, the trend is even more promising.”
Dr Tristan Mehta’s advice for aesthetics career success
“The unspoken truth - anxiety, FOMO and competition amongst colleagues within medical aesthetics. Is there really enough to go around?!” he asks.
“Your first few years in aesthetics are overwhelming - the commercial influence of manufacturers, the shiny KOLs, the pressure of getting your clinic full and the fear of complications.
“Many practitioners drop out because they can’t see a future. It feels too hard. Why bother adhering to your high standards when everyone else seems to be cutting corners and succeeding?
“My advice is to forget what everyone else is doing. Aesthetics is an emerging medical specialty - only just recognised as such by the Royal Society of Medicine - with almost exponential growth ahead.
“Harley Academy has the most graduates of any UK aesthetic medicine training provider. Yet we’ve not yet trained enough practitioners to cater to the emerging patient demand.”
“When I started in 2013, I thought I was too late to the party,” he shares. “I promise, in 10 years time, it will still be a good time to get into aesthetics!
“But I’m not saying it is easy. You’ll need to be brave, and you’ll need to learn a lot of new skills. You will be uncomfortable and you’ll have to fight to succeed. But not because there aren’t enough patients to go around... it’s because this is ultimately a business. And business is hard.
“Your ultimate edge in business is you. So don’t think about anyone else, and focus on your own journey.”
Where are the job opportunities within medical aesthetics?
This is a topic we discuss every month in our free How to Get Started in Aesthetics events.
Ultimately, as Dr Tristan highlights, your USP is being you. So what you bring to the table is unique and differentiates you from other practitioners. Furthermore, your experience, medical background and your aesthetics training qualifications all help you to further stand out in what can feel like a crowded market.
Although many people feel that aesthetics is over-saturated, that’s not actually the case.
As patient demand grows and new patients start to explore treatment options, it’s a question of meeting patients where they are. It’s also about positioning yourself in the best possible way.
Patients who are drawn to you - your personality, your care and attention, your results - are likely to stick with you.
How to start your aesthetics career successfully
The best quick tips we can give you for starting your career successfully are…
- Complete reputable botox and filler courses that will give you the skills and confidence to start practising safely and ethically
- You’re going to want to start building your reputation by offering a few popular treatments, well. This can be literally just upper face botox if that’s all you’re comfortable with at first. Only treat within your competency and build your confidence with practice and additional training throughout your career. This will help you to improve your techniques for existing treatments and allow you to expand your menu. It will also help you to grow your experience - something aesthetics clinics generally require as part of their recruitment criteria
- As your reputation grows, so will your word-of-mouth referrals, however, to expedite this, you can promote your business. This can be through social media, referral schemes, or by targeting local symbiotic businesses, such as hair salons. Growing your business locally is likely to yield you a more sustainable return and help you to nurture a loyal customer base.
- Take your time. Before the days of social media it was said to take one year of experience to fill a full day in clinic - so to get busy five days a week, you’d expect it to take five years. Whilst the digital landscape has changed that somewhat, it’s certainly worth bearing in mind. Overnight success rarely happens overnight!
Is Harley Academy recruiting?
One last point we wanted to address as this has been a popular one since the news broke…
Understandably, we’ve been inundated with employment queries from cosmetic doctors, dentists and aesthetic nurses. Many are asking if we’re currently recruiting for clinical trainers at our City of London locations, or injectors at STORY Clinics.
We currently have no aesthetic practitioner vacancies at STORY Clinics in London or Nottingham.
With regards to training faculty positions with Harley Academy, although we are not actively recruiting, we are always happy to hear from anyone who wishes to be considered. To apply, please send your CV and cover letter to natasha.grove@harleyacademy.com.
Outside of this, new Harley Academy vacancies for roles across our various brands will be posted to the Work With Us page of our website.
All information correct at the time of publication
