Interview with Run Samarakoon - CEO and co-Founder of Cosmetic Avenue Melbourne & Joov Skin - Craig Schulze

Interview with Run Samarakoon - CEO and co-Founder of Cosmetic Avenue Melbourne & Joov Skin

Guest:

Rachel

Host:

Craig

Dec 1, 2023

Played 1883 times

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Season 12 Episode 6

--------- EPISODE CHAPTERS ---------

(0:00:06) - Entrepreneur's Journey in the Cosmetic Industry
(0:13:22) - Scaling a Non-Surgical Franchise Model
(0:24:42) - Franchising and Business Model Discussion
(0:37:39) - Book Recommendations and Life Advice
(0:42:49) - Taking Risks, Living Life Fully

--------- EPISODE CHAPTERS WITH SHORT KEY POINTS ---------

(0:00:06) - Entrepreneur's Journey in the Cosmetic Industry
Run Samarakoon's journey from cardiac physiologist to CEO of Cosmetic Avenue, prioritizing patient experience and revolutionizing the cosmetic surgical space.

(0:13:22) - Scaling a Non-Surgical Franchise Model
Non-surgical approach in fitness industry, reliance on surgeons hindered growth, introduction of cosmetic injectables and fat freezing, unique franchise model.

(0:24:42) - Franchising and Business Model Discussion
Nature's cosmetic services and franchising with Cosmetic Avenue founders, discussing barriers, opportunities, and unique 50-50 co-ownership model.

(0:37:39) - Book Recommendations and Life Advice
Entrepreneurial journey, "Catch of the Century" book, father's advice, "Fuck Doug" motto, passion and determination for success.

(0:42:49) - Taking Risks, Living Life Fully
Run Samarakoon shares his journey to success and invites individuals to explore co-ownership at Cosmetic Avenue.

--------- EPISODE CHAPTERS WITH FULL SUMMARIES ---------

(0:00:06) - Entrepreneur's Journey in the Cosmetic Industry (13 Minutes)

This chapter explores the inspiring journey of Run Samarakoon, co-founder and CEO of Cosmetic Avenue. From his background as a cardiac physiologist to his foray into the corporate world and eventual leap into entrepreneurship, Run shares his experiences and insights. He highlights the challenges and opportunities he encountered in the cosmetic surgical space and how he and his business partner identified a chance to revolutionize the patient experience. By prioritizing the patient over the surgeon, they developed a patient-centric approach that has propelled the success of Cosmetic Avenue.

(0:13:22) - Scaling a Non-Surgical Franchise Model (11 Minutes)

This chapter explores scaling a business in the fitness industry through a non-surgical model. We discuss how the reliance on surgeons hindered growth, but the introduction of non-surgical services like cosmetic injectables and fat freezing allowed for a pivot and the creation of a one-stop shop for clients. We also touch on the trend of people traveling overseas for cheaper procedures and the associated risks. Our unique franchise model, offering a 50-50 co-ownership for dentists and investors passionate about the industry, is explained. We highlight the interest we've received from those interested in including cosmetic dentistry and others focused solely on non-surgical treatments. Overall, this chapter explores the potential for growth and success in the fitness industry through a non-surgical approach.

(0:24:42) - Franchising and Business Model Discussion (13 Minutes)

This chapter explores the world of cosmetic services and franchising with the founders of Cosmetic Avenue. We discuss the barriers and opportunities for those interested in the industry, as well as their vision for the company's growth. The unique 50-50 co-ownership model is explained, along with the benefits it offers for both the franchisor and franchisee. We also touch on the importance of profitability and avoiding cannibalization of territories in the franchising process. Overall, this chapter provides valuable insights for anyone considering entering the cosmetic services industry or exploring franchising opportunities.

(0:37:39) - Book Recommendations and Life Advice (5 Minutes)

This chapter explores the guest's entrepreneurial journey and the lessons they have learned along the way. We discuss their recommended book, "Catch of the Century" by Hezian Gabby Lidovich, which had a significant impact on their business. They also reflect on the best piece of advice they received from their father, to always do things properly, and the worst advice they received from a medical device supplier, which they turned into their motto, "Fuck Doug." The conversation ends with the guest sharing their passion for their business and their determination to succeed despite any obstacles.

(0:42:49) - Taking Risks, Living Life Fully (5 Minutes)

This chapter features a conversation with Run Samarakoon, co-owner of Cosmetic Avenue, who shares his inspiring journey from leaving home at 15 to starting his own successful business. Run discusses his philosophy of working hard and becoming a market leader to achieve success. He also highlights the co-ownership opportunity at Cosmetic Avenue and invites interested individuals to reach out to him for more information. The host expresses gratitude for Ran's insights and encourages listeners to visit the website and connect with Run on LinkedIn.

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