Did you know that going smaller, not bigger, can make you more money?
Go smaller, not bigger
Laastari Lähiklinikka is a chain of health clinics in Finland, typically located in shopping malls and other populated areas.
Yep, you read that right… a health clinic located inside shopping malls.
These clinics are known as retail clinics. They’re where people go and pay a fixed fee to get whatever they need.
Laastari generally charges something like 25 to 45 euros per visit.
At a general hospital in Finland, you’d typically pay at least 100 euros for the same care.
How can Laastari Lähiklinikka afford to charge such prices and still stay profitable?
By niching down. The clinic focuses on a limited set of the most common illnesses, and administers the most common vaccinations.
By specialising, they can charge lower prices. Plenty of clinics around the world adopt similar practices.
What it means for you:
You don’t need to do it all. Sometimes, by niching down and charging less, you can attract more customers than ever before—and make more money doing it.
Consider cutting down your product offering to a few core functions. If you choose those functions well, you may be well on the road to a new and improved business model.
More about going small
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