business plan for med spa

Medical Spa Business Plan

Written by Dave Lavinsky

Medical Spa Business Plan Template

You’ve come to the right place to create your medical spa business plan.

We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their medical spas.

Below is a template to help you create each section of your Medical Spa business plan.

Medical Spa Business Plan Example

Executive summary, business overview.

Healthier You Medical Spa is a startup medical spa located in Miami, Florida. The company is founded by Annie Smith, an experienced medical esthetician who has gained a reputation and loyal client-base during the past ten years while working at Beautify Wellness MedSpa. Now that Annie has garnered a positive reputation for providing exceptional medical spa services, she is ready to start her own company, Healthier Your Medical Spa. Annie is confident that her reputation and skills combined with her ability to effectively manage client relationships will help her to quickly secure a loyal client base for her new business. Annie plans on recruiting a team of highly qualified professionals to help manage the day to day complexities of running a medical spa business including marketing and sales, accounting and bookkeeping, and client relationship management.

Healthier You Medical Spa will provide a comprehensive array of medical spa services in a clean, luxurious, and relaxing environment. The Healthier You  Medical Spa will be the ultimate choice in Miami for medical spa services while providing the best customer service in the area. 

Product Offering

The following are the services that Healthier You Medical Spa will provide:

• Lip fillers
• Microdermabrasion
• Microneedling
• Chemical Peels
• Body Sculpting
• Laser Hair Removal
• Hyaluronic Acid
• Non-surgical Fat Reduction
• Non-surgical Skin Tightening
• Photo rejuvenation

Customer Focus

Healthier You Medical Spa will target women and men in Miami who are looking for non-invasive treatments to promote anti-aging and healthy skin. No matter the customer, Healthier You Medical Spa will deliver the best communication, service, and results. 

Management Team

Healthier You Medical Spa will be owned and operated by Annie Smith. Annie is a graduate of Florida University with a Bachelor’s degree in business management and is licensed by the Board of Cosmetology. She has over ten years of experience working as a medical esthetician at a local medical spa company. Annie will be Owner and Manager of the medical spa. 

Annie has recruited an experienced administrative professional, Lucy Johnson, to be the office manager and help oversee the medical spa’s business operations. Lucy has been an administrative assistant for over ten years at a local medical spa. Annie relies strongly on Lucy’s diligence, attention to detail, and focus when organizing her schedule, customers, and files. Lucy has worked in the medical spa industry for so long, she understands all aspects required in running a successful medical spa business.

Annie and Lucy have recruited an experienced marketing manager, John Thomas, to become a member of the Healthier You Medical Spa management team. John is a graduate of the University of South Carolina with a Master’s degree in Marketing. Annie and Lucy rely on John’s expertise to execute the company’s marketing plan and advertising strategies.  

Success Factors

Healthier You Medical Spa will be able to achieve success by offering the following competitive advantages:

• Friendly, knowledgeable, and highly qualified team of certified medical estheticians who will be able to assess each client’s needs and recommend the treatments that will work best for them.
• Comprehensive menu of services to cater to a wide range of clients of all ages from those looking for regular maintenance to those seeking a dramatic transformation. 
• Healthier You offers premium treatments at competitive prices so clients feel they receive great value when purchasing the spa’s services. 

Financial Highlights

Healthier You Medical Spa is seeking $250,000 in debt financing to launch its medical spa business. The funding will be dedicated towards securing the medical spa location and purchasing medical spa equipment and supplies. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff and marketing expenses. The breakout of the funding is below:

• Medical spa build-out: $50,000
• Equipment, supplies, and materials: $20,000
• Three months of overhead expenses (payroll, rent, utilities): $160,000
• Marketing costs: $10,000
• Working capital: $10,000

The following graph below outlines the pro forma financial projections for Healthier You Medical Spa.

Company Overview

Who is healthier you medical spa .

Healthier You Medical Spa is a newly established medical spa company based in Miami, Florida. Healthier You will be the most luxurious, clean, and relaxing choice for clients in the area. The company will provide a comprehensive menu of medical spa services performed by experienced certified medical estheticians who are experts in specific techniques and treatments. 

Healthier You will be able to provide non-invasive beauty treatments to improve and maintain healthy skin and promote anti-aging. The team of professionals are highly qualified and experienced in various techniques such as body sculpting, chemical peels, and microneedling. Healthier You’s professionals are excellent communicators in addition to being highly qualified medical estheticians, creating a welcoming environment for all clients. 

Healthier You Medical Spa History

Healthier You Medical Spa is owned and operated by Annie Smith, an experienced medical esthetician who has gained a reputation and loyal client-base during the past ten years while working at Beautify Wellness MedSpa. Now that Annie has garnered a positive reputation for providing exceptional medical spa services, she is ready to start her own company, Healthier Your Medical Spa. Annie has begun recruiting a team of highly qualified professionals to help manage the day to day complexities of running a medical spa – sales and marketing, customer service, administrative, janitorial, and accounting. 

Since incorporation, Healthier You Medical Spa has achieved the following milestones:

• Registered Healthier You Medical Spa, LLC to transact business in the state of Florida. 
• Has a contract in place to lease the commercial property. 
• Reached out to numerous contacts to include former clients, fellow medical estheticians, and friends and family members to spread the word about her new business. 
• Began recruiting a staff of medical estheticians, receptionists, sales and marketing associates, and office personnel to work at Healthier You.

Healthier You Medical Spa Services

The following will be the services Healthier You Medical Spa will offer:

• Photorejuvenation

Industry Analysis

The global market for medical spas is valued at $14B and is expected to grow by 14% by 2030. The medical spa industry developed from combining a traditional spa with a medical clinic where providers are able to perform specialized medical treatments in addition to general spa service offerings. 

In the United States, the medical spa industry is one of the fastest growing markets. The industry is currently valued at an estimated $13B and is forecast to increase to $47B by the year 2030. Market drivers include increasing consumer demand for anti-aging and self-care services and the growing wellness sector. 

The American Med Spa Association (AMSA) reports a high demand for minimally invasive treatments. Popular treatments in this category include chemical peels, body sculpting, and non-surgical skin tightening. The body sculpting and non-invasive fat reduction segments are expected to experience the fastest growth over the next several years as these procedures are gaining popularity around the country. 

Customer Analysis

Demographic profile of target market.

Healthier You Medical Spa will target women and men in Miami looking for non-invasive treatments to improve the health and appearance of their skin. No matter the customer, Healthier You Medical Spa will deliver the best communication, service, and quality results. 

The precise demographics for Miami, Florida are:

Customer Segmentation

Healthier You will primarily target the following customer profiles:

• Millennials
• Older Gen Z (over the age of 18)
• Individuals looking for non-invasive anti-aging treatments

Competitive Analysis

Direct and indirect competitors.

Healthier You Medical Spa will face competition from other companies with similar business profiles. A description of each competitor company is below.

Mia Med Spa

Established in 2007, Mia Med Spa is now one of the largest medical spa franchises in Florida. The company is able to provide a wide variety of medical spa treatments for its clients. The medical spa offers a variety of injectables, skin care, and rejuvenation treatments for all skin types. Mia Med Spa’s founder is a dedicated skincare expert and a well-known medical esthetician in the community. Mia Med Spa also carries its own line of skincare products that can be purchased at one of its 10 locations throughout the state. 

While this is a well-known company with an established presence in the market, Mia Med Spa does not offer personalized customer service or a relaxing spa experience. The Mia Med Spa locations are in large, intimidating facilities in order to serve many clients at the same time.  

Beautify Wellness MedSpa

Beautify Wellness MedSpa, founded in 2015, is a small medical spa with a single location catering to local residents in Miami, Florida and surrounding areas. Beautify Wellness MedSpa provides non-invasive treatments and is most well-known for its fat reduction and body contouring services. The owners of Beautify Wellness MedSpa only hire estheticians that are highly trained in the latest techniques and treatments. This company primarily targets individuals looking to use body contouring and fat reduction treatments in addition to their existing weight management regimen. 

Beautify Wellness MedSpa specializes in fat reduction and body contouring only, and thus does not offer the wide selection of services and treatments that Healthier You will offer. 

Look Young Feel Young Medical Spa

Look Young Feel Young Medical Spa is a Miami, Florida-based medical spa founded in 2019. The spa provides exclusive treatments for men and women in Miami and the surrounding areas. The company is able to provide a wide variety of injectable procedures, body sculpting, and non-invasive rejuvenation services using the latest techniques and products. Look Young Feel Young Medical Spa’s owners have developed an impressive following on social media and are well-known in the medical spa community. This presence has garnered the company a large and growing customer base. 

While Look Young Feel Young Medical Spa has quickly established a loyal following and customer base, the company caters mostly to clientele that are interested in anti-aging treatments, but do not target the larger market of customers with other skincare concerns. 

Competitive Advantage

Healthier You Medical Spa will be able to offer the following advantages over their competition:

• Skilled team of medical spa estheticians who are not only trained in the latest techniques and treatments, but are also highly effective in providing the best customer service. 
• Healthier You Medical Spa targets a wide range of customers from multiple age groups and with numerous skincare and medical spa service needs. 
• The company offers competitive pricing and discounts for regular customers. 

Marketing Plan

Brand & value proposition.

Healthier You Medical Spa will offer the unique value proposition to its clientele:

• Healthier You Medical Spa provides premium medical spa services for competitive prices.  
• The company’s medical spa will be a luxurious, relaxing, and clean environment. 

Promotions Strategy 

The promotions strategy for Healthier You Medical Spa is as follows:

Social Media Marketing

The company’s marketing director will create accounts on social media platforms such as LinkedIn, Twitter, Instagram, Facebook, TikTok, and YouTube. He will ensure Healthier You maintains an active social media presence with regular updates and fun content to get customers excited about the services the medical spa has to offer. 

Professional Associations and Networking

Healthier You Medical Spa will become a member of professional associations such as the Medical Spa Association, American Medical Esthetician’s Society, and the Florida Body Contouring Association. The leadership team will focus their networking efforts on expanding the company’s client network. 

Print Advertising

Healthier You Medical Spa will invest in professionally designed print ads to display in programs or flyers at industry networking events. The company will also send direct mailers to local businesses with employees who are in the target market. 

Website/SEO Marketing

Healthier You Medical Spa will utilize the in-house marketing director that designed the print ads to also design the company website. The website will be well organized, informative, and list all the services that Healthier You is able to provide. The website will also list information on the company’s events and promotions. 

The marketing director will also manage Healthier You’s website presence with SEO marketing tactics so that when someone types in a search engine “Miami medical spa” or “medical spa near me”, Healthier You Medical Spa will be listed at the top of the search results.

The pricing of Healthier You Medical Spa will be competitive so customers feel they receive value when purchasing the company’s services. 

Operations Plan

The following will be the operations plan for Healthier You Medical Spa.

Operation Functions:

• Annie Smith will be the Owner and Manager. She will oversee the medical spa estheticians and client relationships. Annie has spent the past year recruiting the following staff:
• Lucy Johnson – Office Manager who will manage the day-to-day operations of the medical spa including overseeing the front desk staff, janitorial staff, and general administrative tasks. 
• Stan Williams – Staff Accountant/Bookkeeper who will provide all accounting, tax payments, and monthly financial reporting.
• John Thomas – Marketing Director who will oversee all marketing strategies for the company and manage the website, social media, and sales campaigns. 

Milestones:

Healthier You Medical Spa will have the following milestones complete in the next six months.

11/1/2022 – Finalize lease on the space.

11/15/2022 – Finalize personnel and staff employment contracts for the Healthier You Medical Spa management team.

12/1/2022 – Begin build-out and renovation of the spa. 

12/15/2022 – Begin networking at industry events and implement the marketing plan. 

1/15/2023 – Finalize contracts for medical estheticians. 

1/20/2023 – Healthier You Medical Spa officially opens for business.

Healthier You Medical Spa will be owned and operated by Annie Smith, an experienced medical esthetician who has gained a reputation and loyal client-base during the past ten years while working at Beautify Wellness MedSpa. Now that Annie has garnered a positive reputation for providing exceptional medical spa services, she is ready to start her own company, Healthier Your Medical Spa. Annie is confident that her reputation and skills combined with her ability to effectively manage client relationships will help her to quickly secure a loyal client base for her new business. 

Financial Plan

Key revenue & costs.

The revenue drivers for Healthier You Medical Spa are the fees charged to customers in exchange for the company’s services. Additional revenue will be generated through sales of beauty and skincare products customers can purchase at the medical spa. 

The cost drivers will be the overhead costs required in order to staff a medical spa. The expenses will be the payroll cost, utilities, equipment and supplies, and marketing materials.

Funding Requirements and Use of Funds

Healthier You Medical Spa is seeking $250,000 in debt financing to launch its medical spa business. The funding will be dedicated towards build-out of the medical spa and purchasing equipment and supplies. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff and marketing expenses. The breakout of the funding is below:

Key Assumptions

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

• Average number of services provided per month: 500 
• Average fees per month: $5,000
• Overhead costs per year: $200,000

Financial Projections

Income statement.

Balance Sheet

Cash Flow Statement

Free Medical Spa Business Plan PDF

You can download a medical spa business plan PDF template here .  This is a business plan template in PDF format. You can easily complete your business plan using our Medical Spa Business Plan Template here .  

Medical Spa Business Plan FAQs

What is a medical spa business plan.

A medical spa company business plan is a plan to start and/or grow your medical spa company business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

What are the Steps To Start a Medical Spa?

Starting a medical spa business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Medical Spa Business Plan – The first step in starting a business is to create a detailed medical spa business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure – It’s important to select an appropriate legal entity for your medical spa business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your medical spa business is in compliance with local laws.

3. Register Your Medical Spa Business – Once you have chosen a legal structure, the next step is to register your medical spa business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options – It’s likely that you’ll need some capital to start your medical spa business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location – Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees – There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Medical Spa Equipment & Supplies – In order to start your medical spa business, you’ll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business – Once you have all the necessary pieces in place, it’s time to start promoting and marketing your medical spa business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful medical spa business:

How to Start a Medical Spa Business

Expert business plan and financial models

Medical Spa Business Plan Template & PDF Example

• September 4, 2024
• Business Plan

Creating a comprehensive business plan is crucial for launching and running a successful medical spa. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your medical spa’s identity, navigate the competitive market, and secure funding for growth.

This article not only breaks down the critical components of a medical spa business plan, but also provides an example of a business plan to help you craft your own.

Whether you’re an experienced entrepreneur or new to the beauty industry, this guide, complete with a business plan example, lays the groundwork for turning your medical spa concept into reality. Let’s dive in!

Our medical spa business plan is designed to address all crucial aspects necessary for a comprehensive strategic outline. It elaborates on the spa’s treatment offerings, marketing strategies, industry landscape, competitive positioning, operational structure, and financial forecasts.

• Executive Summary : Offers an overview of our medical spa’s business idea, market study, team, and money plans.
• Spa & Location: Talks about how our spa looks, what we have for customers, and why the place we picked is good.
• Treatments & Pricing: Lists the health and beauty treatments we offer and how much they cost.
• Key Stats: Gives facts about how big the medical spa market is and its growth.
• Key Trends: Shows the latest changes in our industry.
• Key Competitors: Looks at other medical spas near us, their services, and how we’re different.
• SWOT: Lists our strong points, weak points, chances, and risks.
• Marketing Plan : Shares our ideas for telling people about our spa and bringing them in.
• Timeline : Outlines the main steps from starting to one year later.
• Management: Gives information about the people running the spa and their jobs.
• Financial Plan: Shows our expected money situation for five years, including earnings, spending, and profits.

Medical Spa Business Plan

Fully editable 30+ slides Powerpoint presentation business plan template.

Download an expert-built 30+ slides Powerpoint business plan template

Executive Summary

The Executive Summary introduces your medical spa’s business plan, offering a concise overview of your spa and its services. It should detail your market positioning, the range of medical and wellness treatments you offer, its location, size, and an outline of day-to-day operations.

This section should also explore how your medical spa will integrate into the local market, including the number of direct competitors within the area, identifying who they are, along with your spa’s unique selling points that differentiate it from these competitors.

Furthermore, you should include information about the management and co-founding team, detailing their roles and contributions to the spa’s success.

Additionally, a summary of your financial projections, including revenue and profits over the next five years, should be presented here to provide a clear picture of your spa’s financial plan.

Medical Spa Business Plan Executive Summary Example

Business Overview

The executive summary introduces the core aspects of your medical spa, including its name, location, and primary operations.

These details set the foundation for spotlighting the spa’s  unique selling proposition  ( USP ), which sets it apart within the  competitive  market. Whether it’s the specialization in advanced technologies, holistic wellness approaches, or a unique blend of treatments, the USP should be a focal point demonstrating the spa’s exceptional value to its audience.

Example: “Vitalize MedSpa,” strategically situated in [City/Neighborhood], occupies a 4,000-square-foot space, offering a comprehensive range of non-invasive cosmetic procedures. Our USP revolves around merging cutting-edge technology with personalized wellness programs, enhancing our clients’ natural beauty and overall well-being.

Market Overview

A comprehensive  market analysis  hinges on grasping the market’s scale, growth trajectory, and industry dynamics. Emphasizing trends, such as the growing demand for non-invasive cosmetic procedures and the merging landscape of personalized wellness initiatives, paints a vivid picture of the evolving market terrain. This understanding serves to position the medical spa within this framework.

Equally critical is the evaluation of the competitive landscape. This executive summary highlights  key competitors , illustrating the distinctive positioning of the medical spa amidst this environment.

Example: The U.S. medical spa market, valued at $7.8 billion in 2022, projects a robust CAGR of +13.8% from 2023 to 2030. Emerging industry trends spotlight an escalating demand for non-invasive cosmetic procedures and a pronounced focus on personalized wellness. “Vitalize MedSpa” strategically aligns itself within this dynamic landscape, integrating avant-garde technology and bespoke wellness programs to cater to the evolving preferences of a discerning clientele.

Management Team

Highlighting the expertise and credentials of the management team adds credibility to the medical spa’s capability for success.

Profiles detailing the experiences and qualifications of key team members, particularly those with expertise in healthcare administration or specialized spa management, instill confidence in potential investors and partners.

Example: “Vitalize MedSpa” is spearheaded by leaders with extensive backgrounds in healthcare administration and wellness management. Our team comprises individuals with a collective experience of over 30 years in delivering exceptional client services and operational excellence.

Financial Plan

The financial plan overview should succinctly summarize the spa’s financial objectives and projections, including revenue targets and profit margins, offering a clear trajectory of the spa’s financial growth.

Example: “Vitalize MedSpa” aims to achieve $1.0 million in yearly revenue by 2028, targeting a 30% profit margin ( EBITDA ). We plan strategic investments in state-of-the-art equipment and assertive  marketing strategies  to drive sustainable growth, positioning the spa as a profitable and esteemed establishment within the industry.

For a Medical Spa, the Business Overview section can be effectively divided into 2 main slides:

Spa & Location

Describe the spa’s serene and therapeutic environment, focusing on its design elements that promote relaxation and healing. Emphasize features like private treatment rooms, calming décor, and any amenities that enhance the client experience, such as relaxation lounges or herbal tea stations.

Highlight the spa’s location, stressing its convenience and accessibility to potential clients. This could include proximity to wellness centers, ease of access through public transportation, or ample parking. Explain how the location supports the spa’s visibility and is strategic in attracting the target demographic, emphasizing the community or neighborhood’s alignment with health and wellness lifestyles.

Treatments & Pricing

Outline the comprehensive array of medical and wellness treatments available, such as advanced skincare (facials, peels), body treatments (massages, body wraps), cosmetic procedures (Botox, dermal fillers), and holistic health therapies (acupuncture, nutritional counseling).

Highlight any signature treatments or exclusive technologies that set your spa apart. Detail your pricing model , ensuring it reflects the premium nature of the treatments while remaining competitive within the medical spa industry. Discuss any special packages, membership options, or loyalty programs designed to enhance customer value, encourage repeat visits, and foster a loyal client base.

Industry Size & Growth

In the Market Overview of your medical spa business plan, begin with an analysis of the size of the medical spa industry and its growth trajectory. This exploration is essential to grasp the market’s breadth and pinpoint avenues for expansion.

Key Market Trends

Continue by exploring prevailing market trends , such as the increasing consumer focus on wellness and preventative health, the surge in demand for non-invasive aesthetic treatments, and the integration of technology in personalized wellness plans.

For instance, spotlight the growing interest in treatments tailored to individual health and beauty goals, coupled with the preference for spas that offer a holistic approach to wellness, incorporating both mental and physical health services.

Competitive Landscape

A  competitive analysis  is not just a tool for gauging the position of your medical spa in the market and its key competitors; it’s also a fundamental component of your business plan. This analysis helps identify your medical spa’s unique selling points, essential for differentiating your business in a  competitive  market.

In addition, competitive analysis is integral in laying a solid foundation for your business plan. By examining various operational aspects of your competitors, you gain valuable information that ensures your business plan is robust, informed, and tailored to succeed in the current market environment.

Identifying Key Competitors in the Medical Spa Industry

The initial step in comprehending your medical spa’s position involves identifying and evaluating competitors within the local and broader market. Begin by mapping out similar establishments offering cosmetic procedures, rejuvenation treatments, and wellness services within your vicinity. Direct competitors may include well-established medical spas, cosmetic clinics, and even dermatologist or plastic surgeon offices offering similar services.

Moreover, it’s crucial to acknowledge indirect competitors, such as high-end salons or wellness centers, that might offer overlapping services like facials, massages, or alternative wellness therapies. Leveraging online resources such as Google Maps, and Yelp, or specialized platforms like RealSelf can provide insights into competitor locations, services offered, and customer feedback.

Medical Spa Competitors’ Strategies

To conduct a thorough competitive analysis, delve into various facets of your competitors’ strategies:

• Service Offerings:  Scrutinize the array of services provided by competitors. For instance, if a rival medical spa emphasizes laser treatments or specializes in anti-aging therapies, it indicates areas of strength or specialization worth noting.
• Technology and Treatments:  Consider the equipment and techniques employed by competitors. A medical spa offering cutting-edge technology like non-invasive body contouring or the latest advancements in skincare procedures may appeal to a different clientele than a spa focusing on traditional treatments.
• Pricing and Packages:  Compare the pricing structure and service packages of your medical spa with those of competitors. Assess whether your pricing aligns with budget-friendly options or caters to premium services in comparison to competitors’ rates.
• Marketing Strategies :  Evaluate competitors’ marketing tactics. Do they leverage social media platforms for client engagement and promotions, or do they rely heavily on referral programs and partnerships with local influencers?
• Client Experience:  Assess the overall customer experience provided by competitors. For instance, a spa renowned for its luxurious ambiance and personalized treatments might attract a different demographic than one focused on a clinical, results-driven approach.
• Operational Efficiency:  Observe how competitors manage their operational processes. Some medical spas might excel in appointment scheduling, online consultation options, or personalized treatment plans, while others emphasize walk-in availability and quick services.

What’s Your Medical Spa’s Unique Value Proposition?

Define your medical spa’s  unique value proposition  based on your  strengths , expertise, and market differentiators. Perhaps your spa specializes in holistic wellness approaches, and advanced skincare protocols, or offers bespoke treatment plans tailored to individual client needs.

Identify gaps in the market through customer feedback, emerging trends, or unaddressed demands within the industry. For instance, the rising interest in non-invasive procedures or sustainable, eco-friendly wellness practices could represent untapped opportunities for your spa to explore.

Consider your location and target demographic. A spa situated in a bustling urban area might focus on time-efficient procedures and cater to busy professionals, whereas a spa in a suburban setting might emphasize a serene retreat-like atmosphere for relaxation and comprehensive rejuvenation experiences.

Begin with a SWOT analysis for the medical spa, pinpointing Strengths (like specialized medical expertise and a comprehensive suite of wellness and aesthetic treatments), Weaknesses (such as high operational costs or intense competition), Opportunities (for instance, growing public interest in health, wellness, and non-invasive cosmetic treatments), and Threats (including regulatory changes or economic downturns affecting discretionary spending on wellness services).

Marketing Plan

Then, craft a marketing strategy that focuses on how to draw and keep clients through precise targeting, promotional offers, an active and engaging online presence, and involvement in health and wellness community events.

Marketing Channels

Effective  marketing channels  are pivotal in communicating your spa’s brand and services to potential clients.

Digital Marketing

• Social Media Presence : Utilize platforms like Instagram, Facebook, and Twitter to showcase before-and-after treatment images, client testimonials, and informational posts about skincare.
• Email Marketing : Build an email list and engage your audience with informative newsletters containing skincare tips, updates about new treatments, special offers, and invitations to spa events or workshops.
• Website and SEO:  Develop a professional website detailing treatments, client reviews, and wellness blog posts. Incorporate SEO strategies to ensure your content ranks well in search engine results.

Local Advertising

• Print Media and Community Engagement:  Advertise in local health magazines or lifestyle publications. Participate in health expos, and wellness seminars, or sponsor health-related community events.
• Medical Professional Collaborations : Partner with local healthcare providers or wellness experts for joint seminars or referral programs.
• Events and Sponsorships:  Participate in health and wellness fairs, and charity events, or sponsor local sports teams to raise awareness about your spa and its services.

Promotional Activities

• Special Packages and Discounts:  Introduce packages like ‘Seasonal Skin Rejuvenation Special’ or ‘Couples’ Wellness Retreat.’ Offer introductory discounts for first-time clients.
• Loyalty Programs:  Implement a loyalty program rewarding frequent visitors with discounts on subsequent visits or exclusive treatments.
• Referral Programs:  Incentivize existing clients to refer friends or family by offering discounts or complimentary services for successful referrals.

Sales Channels

Sales channels  play a crucial role in generating revenue and enhancing customer satisfaction by offering varied avenues for clients to engage with your medical spa.

Consultation and Upselling

• Upselling Services:  During consultations or treatments, suggest complementary services or products aligned with the client’s primary treatment, enhancing their experience and contributing to increased sales.
• Retail Merchandising:  Retail skincare products and wellness items that complement your spa’s treatments. Educate clients on the benefits of at-home skincare regimes and suggest suitable products.
• Service Bundles:  Offer bundled service packages such as ‘Skin Rejuvenation Package’ combining facial treatments, ‘Ultimate Relaxation Package’ with massage therapies, or ‘Post-Surgery Recovery Package’ for post-operative care.

Online Booking and Retail

• User-Friendly Booking System:  Implement an intuitive online booking system via your website and social media platforms. Offer incentives like discounted services for online bookings to encourage client engagement.
• E-commerce Integration:  Retail skincare products, wellness supplements, or spa merchandise through your website, providing clients with convenient access to your offerings beyond their spa visits.

Membership and Loyalty Programs

Encourage client retention through membership and loyalty initiatives:

• Membership Benefits:  Create membership programs with tiered benefits such as preferential pricing, exclusive access to new treatments, or members-only events, encouraging regular visits and customer loyalty.
• Loyalty Rewards : Implement a digital loyalty program where clients earn points for every dollar spent, redeemable for discounts on future treatments or retail purchases, incentivizing repeat visits.

Strategy Timeline

Lastly, establish a detailed timeline that sets out key milestones for the medical spa’s launch, marketing initiatives, client base development, and growth goals, ensuring the business progresses with clarity and intent.

The Management section focuses on the medical spa’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the medical spa towards its financial and operational goals.

For your medical spa business plan, list the core team members, their specific responsibilities, and how their expertise supports the business.

The Financial Plan section is a comprehensive analysis of your financial projections for revenue, expenses, and profitability. It lays out your medical spa’s approach to securing funding, managing cash flow, and achieving breakeven.

This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs and capital expenditures.

For your medical spa business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your key assumptions (e.g. number of customers and prices, expenses, etc.).

Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds

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• July 28, 2023

Ultimate Medical Spa Business Plan Blueprint +Template PDF

The average American woman spends $1,000 annually on beauty treatments. This includes everything from facials and massages to injectables and laser hair removal. The medical spa industry is well-positioned to capitalize on this growing demand for beauty and wellness services.

If you plan to start your own med spa business , you need a business plan.

A comprehensive business plan is a critical foundation for any successful medical spa. It serves as a roadmap for establishing, operating, and growing your business. With the growing demand for aesthetic treatments and anti-aging services, a thoughtful business plan can position your medical spa for long-term profitability and success.

This guide will provide an in-depth overview of crafting a strategic business plan tailored specifically for a medical spa. We will cover key sections, including the executive summary, market analysis, operations plan, financial projections, etc. You will gain valuable insights into and analyze your:

• target market,
• estimating costs and revenues,
• choosing a location,
• developing service offerings,
• hiring staff,
• projecting growth, 
• and mitigating risks.

With a solid business plan in place, you can confidently seek funding from banks and investors. It will also help you make informed decisions on marketing, inventory, equipment purchases, and other investments. Referring back to your business plan on a regular basis will keep you focused on your core mission and long-term objectives.

In the highly competitive medical spa industry , proper planning is essential. This guide will prepare you to create a comprehensive, customized business plan that aligns with your unique vision . With the right roadmap, you can establish a successful medical spa that delivers excellent patient care while achieving profitability and sustainable growth.

Let’s go deep into this massive guide on how to create a business plan for a medical spa.

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Keep in Mind

Here are 10 of the most important things to keep in mind when writing a business plan for your medical spa:

• Start with a clear vision for your business. What do you want your medical spa to achieve? What are your goals for the business?
• Do your research. Understand the market you are entering and the competition you will face.
• Develop a strong marketing plan. How will you reach your target audience and generate leads?
• Create a compelling value proposition. What makes your medical spa unique, and why should customers choose you ?
• Set realistic financial projections. How much money will you need to start and operate your business?
• Identify your target audience. Who are your ideal customers?
• Define your competitive advantage. What sets your medical spa apart from the competition?
• Develop a strong management team. Who will be responsible for running your business?
• Be prepared to make adjustments. The business plan is a living document that should be updated as your business grows and changes.

Keeping these key factors in mind will help you develop a comprehensive plan tailored to your medical spa. Let the business planning process guide your strategic thinking and decision-making as you work to establish a successful enterprise.

Business Plan Template for Medical Spa

Bringing your medical spa vision to life starts with a comprehensive, well-crafted business plan. To assist with the planning process, we have created an in-depth medical spa business plan template available for download below.

This detailed template contains 16 key sections that cover all aspects of mapping out the launch and operation of your medical spa. The template prompts you to flesh out details on your services, target market, competitive analysis, marketing plan, financial projections, and more. We have also included explanatory tips and examples throughout the plan to help guide your responses.

At over 8,500 words , this template aims to ensure you consider all critical factors in building a successful, sustainable medical spa business. Having an expertly crafted plan is essential for securing financing, recruiting talent, establishing operations, and executing your vision with precision. Use this template as a valuable resource to bring structure to your planning process.

Simply click below to download the full medical spa business plan template now in an editable PDF document. With this comprehensive template, you have a strategic roadmap for bringing your medical spa dreams to fruition!

Download Your Business Plan Blueprint Guide Now

Introduction to Business Plans

A business plan is an essential document for any company, outlining its objectives , strategies, financial forecasts, and more. For medical spas, having a comprehensive, thoughtful business plan is critical when starting out.

What is a Business Plan?

A business plan is a written document that outlines a company’s goals and how it plans to achieve them. It serves as a roadmap for the business, helping the owners chart a course for growth and success.

Importance of a Business Plan

There are several key reasons why a well-developed business plan is so important:

• Defines your business goals and how you will accomplish them
• Allows you to identify target customers and how to effectively market to them
• Helps you determine staffing, operations, and infrastructure needs
• Guides financial decisions and profitability projections
• Helps secure funding and investment from banks and investors
• Serves as an operating guide as you launch and grow your business

Benefits of Business Planning

Crafting a strong business plan has many benefits for medical spa owners:

• Gives you a clear strategic vision and focus
• Forces you to deeply analyze the competitive landscape
• Identifies risks and challenges so you can mitigate them
• Helps manage costs, cash flow, and financial performance
• Allows you to spot potential growth opportunities
• Keeps the team aligned on objectives and tactics
• Provides benchmarks to measure progress as you execute the plan

In summary, investing time in thoughtful business planning establishes a strong foundation for developing and growing a successful medical spa. With a comprehensive plan, you can launch your new venture with confidence.

Med Spa Pro Shares Business Planning

If you want additional perspective on crafting an effective medical spa business plan, be sure to check out this insightful video from seasoned med spa owner Kelly Smith.

In the video “What I Wish I Would’ve Known Before Opening My Med Spa | Medical Spa Business Plan”, Kelly shares crucial tips based on her own experience creating a business plan and opening a successful med spa.

She discusses key things she wishes she had known upfront in the planning process, from budgeting adequately for unexpected costs to doing thorough competitive research. Kelly also stresses the importance of creating realistic financial projections and not rushing into launching without a solid plan in place.

Kelly’s real-world advice can help any aspiring med spa owner avoid common pitfalls and build a strong foundation for their new business. Make sure to watch her video for valuable lessons as you craft your own comprehensive med spa business plan.

Step-by-Step: How to Write a Business Plan for a Medical Spa

Now that you understand the critical importance of a well-crafted business plan, let’s dive into the step-by-step process for writing one tailored specifically for a medical spa.

Developing a comprehensive plan that maps out all aspects of your new venture will take time, research, thought, and expert input. But the investment will pay dividends as you launch and grow your business.

Below, you can find the key sections to include in your medical spa business plan, and learn how to write them.

Section 1. Executive Summary

The Executive Summary is a crucial section that summarizes the key points of your entire plan. It should provide readers with an overview of your business and get them excited to learn more.

a. Business Overview

• Briefly describe your medical spa concept and services.
• Explain the purpose and vision for your medical spa.
• Share when and why you are creating this business plan.
• Specify the type of medical spa, such as medi-spa, cosmetic surgery center, etc.

b. Concept and Objectives

• Outline the main objectives you hope to accomplish with your medical spa.
• Share your motivation and passion for starting this business.
• Explain how your spa will be positioned in the marketplace.

c. Key Highlights

• Present 3-5 major financial projections, such as projected revenue, startup costs , and breakeven point.
• Share competitive advantages your medical spa will leverage in the market.
• List key milestone goals for the first 1-3 years in business.
• Briefly explain how you will obtain funding to launch the business.

The Executive Summary should get readers excited about your vision and business goals for your new medical spa venture. Keep it concise at 1-2 pages maximum.

Section 2. Company Overview

The Company Overview provides background on key details about your medical spa business.

a. Company Name & Location

• Share the official name you have chosen for your medical spa.
• Indicate the city, state, and any other details about your location.

b. Legal Structure

• Explain the business structure such as LLC, S-corp, partnership, etc.
• Discuss why you chose this structure.

c. Founders & Management Bios

• Introduce the founders, owners, and management team.
• For each key member, include a bio highlighting relevant experience.

d. Mission Statement

• Craft a mission statement that summarizes your medical spa’s purpose and values.
• Share your long-term vision and objectives for the company.

e. Values & Commitment

• Describe how your spa will be committed to top-notch patient care and customer service.
• Share company values like integrity, safety, compassion, transparency, etc.

This section provides essential context on the vision, team, and ethos that will define your unique medical spa.

Section 3. Market Analysis & Competitive Landscape

This section examines your target customer, competition, industry trends, and market opportunities.

a. Target Market Analysis

• Define your ideal customer demographics (age, income, geography, etc.).
• Identify target psychographics (values, interests, lifestyle, etc.).
• Analyze behavior patterns like how often they utilize spa services.

b. Market Evaluation

• Research size and growth projections for the medical spa industry overall.
• Assess trends that may impact demand for your services.
• Identify new technologies that influence the market.

c. Competitors Analysis

• Make a list of direct and indirect competitors in your area.
• Objectively assess their strengths and weaknesses.
• Compare their pricing, offerings, marketing, and customer service.

d. Market Gaps

• Identify unmet consumer needs that your medical spa could fulfill.
• Recognize areas where competitors are falling short or lacking.
• Outline how you will leverage these gaps as opportunities.

Gaining a comprehensive understanding of the competitive landscape will allow you to position your medical spa for success within the target market.

Section 4. Marketing and Sales Strategies

This outlines plans to promote your spa and attract new clients.

a. Marketing Goals

• Define specific marketing goals aligned with your overall business objectives.
• Set goals for brand awareness, lead generation, client acquisition, and customer retention.
• Include metrics like website traffic, lead conversion rate, and new client growth rate.
• Track goals in your marketing analytics to measure success.

b. Brand Positioning

• Determine how you want to position your medical spa brand in the marketplace.
• Craft consistent messaging that conveys your unique value proposition.
• What customer pain points will you address? What sets you apart from competitors?
• Ensure consistency across marketing channels and customer touchpoints.

c. Marketing Plan

• Develop a comprehensive marketing plan detailing strategies and tactics to achieve goals.
• Digital marketing: SEO, SEM, social media, email nurturing, content marketing.
• Print/direct mail advertising.
• Partnerships with local businesses and influencers.
• PR outreach to drive press coverage.
• Discounts and promotions to attract new clients.

d. Sales Strategies

• Design consultative sales process to convert leads into long-term clients.
• Hire and train qualified sales staff on product knowledge and consultative selling.
• Set quotas and implement sales performance tracking.
• Leverage CRM to manage pipelines and analyze conversion metrics.
• Foster retention through loyalty programs and customer education.

With integrated marketing and sales strategies tailored to your medical spa, you can drive brand growth and exceed business objectives.

Section 5. Service Offerings and Differentiation

This details your menu of treatments and competitive edge.

a. Services

• Make an extensive list of all medical and aesthetic services and treatments offered.
• Group services into relevant categories like injectables, body contouring, skin rejuvenation, etc.
• For each service, briefly describe the procedure.

b. Service Benefits

• For each service, explain the benefits and specific outcomes patients can expect.
• How does this service help meet patient needs and goals?

c. Service Uniqueness

• Call out any unique, specialty, or high-demand services that competitors don’t offer.
• These differentiated offerings can attract new patients.

d. Differentiation from Competitors

Highlights how your services stand out from competitors based on:

• Cutting-edge technology and equipment
• Specialized expertise and training
• Superior quality of treatments and outcomes
• Excellent customer service experience
• Boutique, luxury environment

Leveraging unique services and clear competitive advantages can help your medical spa attract and retain more clients.

Section 6. Business Structure and Legal Considerations

This covers your entity choice and compliance requirements.

a. Business Entity

• Choose a business structure such as LLC, S-Corp, partnership, etc.
• Explain the reasons for choosing this structure. Consider liability protection, taxes, and ease of setup.

b. Regulatory Requirements

• Research federal, state, and local regulations and outline requirements.
• May include business licenses, OSHA standards , HIPAA compliance, etc.

c. Licensing and Certifications

• Obtain required licensing and certification for services from accrediting bodies.
• Requirements vary based on the services offered. Research thoroughly.

d. Liability

• Evaluate liability risks associated with services and facilities.
• Secure proper malpractice insurance to protect against lawsuits.
• Look into general business liability and errors & omissions insurance.

Consulting legal and accounting advisors can help ensure you meet all regulatory and compliance requirements to safely operate your medical spa and avoid any legal troubles .

Related content: Med Spa Laws in All 50 States: For Medical Spa Owners in the United States

Section 7. Operations and Management

This describes workflows, processes, and organizational structure.

a. Organizational Structure

• Define leadership hierarchy and roles.
• Create an organizational chart showing key positions and reporting structure.

b. Management Team’s Qualifications

• Emphasize educational background, certifications, and experience.
• Highlight skills and competencies of key personnel.

c. Workflow

• Map out day-to-day workflow and processes for service delivery.
• Optimize operations for efficiency and quality control.

d. Inventory Management

• Establish protocols for sourcing and managing medical consumables and equipment inventory.
• Set par levels and implement a purchase order system.

e. Facility Requirements

• Outline details of facility space requirements including dimensions, layout, and accessibility.
• Specify aesthetic design elements and ambiance.
• Discuss whether the building will be leased or purchased.

Thoughtful planning of operations and management structures will help ensure the smooth delivery of high-quality services and exceptional patient experiences.

Section 8. Staffing and Training

This outlines hiring, development, incentives, and retention.

a. Staffing Plan

• Develop a detailed staffing plan for hiring medical professionals, techs, and support staff.
• Consider part-time vs full-time and salaries based on experience/credentials.

b. Recruitment

• Identify channels and strategies to recruit qualified candidates.
• Leverage job listings, recruiters, industry events, and referrals.

c. Training

• Implement training programs covering customer service, operations, and safety protocols.
• Include ongoing continuing education and development opportunities.

d. Compensation & Benefits

• Offer competitive salaries, health insurance, retirement plans, and PTO.
• Consider performance bonuses or profit-sharing incentives.

e. Retention Initiatives

• Foster retention through awards, tuition reimbursement, and career development.
• Conduct regular reviews and provide opportunities for advancement.

Investing in robust staffing , hiring, training, and retention will ensure you build an exceptional team to provide outstanding care and service.

Section 9. Facilities and Equipment

This explains your location, layout, technology, and supplies.

a. Facilities and Layout

• Provide a detailed overview of facility size, floor plan, and room dimensions.
• Emphasize aesthetics and flow between treatment rooms, reception, etc.

b. Equipment

• Make a comprehensive list of specialized medical devices and technologies.
• Include lasers, injectable machines, cryotherapy, body contouring, etc.

c. Suppliers

• Identify reputable equipment vendors and secure maintenance agreements.
• Ensure an adequate supply of consumables from reliable sources.

d. Standards Compliance

• Facility must comply with all state and federal safety regulations.
• Detail protocols for sterilization, sanitation, and hazardous waste disposal.
• Address privacy regulations like HIPAA compliance.

Investing in a well-designed facility and advanced equipment will provide the safe, comfortable environment your clients deserve.

Section 10. Financial Projections and Funding

This provides key fiscal planning details for your medical spa.

a. Financial Statements

• Develop a pro forma income statement projecting revenues and expenses.
• Prepare estimated balance sheet and cash flow statement.
• Make conservative assumptions and projections.

b. Break-Even Analysis

• Calculate the breakeven point when revenues exceed costs.
• Evaluate the timeline and revenue targets needed to reach profitability.

c. Funding Sources

• Outline funding from sources like loans, investors, and crowdfunding.
• Provide details on terms, repayment plans, collateral, and equity offered.

d. ROI Projections

• For investors, calculate and present expected ROI over time.
• Projections should be based on reasonable assumptions.

Financial planning is key for capital acquisition, profitability analysis, and setting measurable goals and milestones. Consult accountants and financial advisors.

Section 11. Risk Management and Contingency Planning

This section identifies potential risks and plans to address them.

a. Risks and Challenges

• Identify and assess risks like new competition, seasonality, and staff turnover.
• Consider challenges like meeting patient volume targets or recruitment issues.

b. Risk Mitigation

• Develop strategies to mitigate identified risks.
• Create contingency plans to minimize business disruptions.

c. Emergency Plans

• Prepare emergency response plans for events like natural disasters or system outages.
• Address continuity of operations and patient medical needs.

d. Insurance Coverage

• Secure adequate insurance for risks like liability, property damage, and emergencies.
• Consider business interruption insurance and cybersecurity coverage.

Proactively identifying risks allows you to plan ahead and protect your medical spa against challenges. Having robust contingency plans provides stability and prepares you to weather any storm. 

Read more: Boosting Your Medical Spa Sales with Text Message Marketing: 7 Best Practices

Section 12. Implementation Plan

This section outlines the execution of the business plan.

a. Executing Timeline

• Create a detailed timeline of activities needed to launch the medical spa.
• Set deadlines for completing each task and milestone.

b. Division of Responsibilities

• Clearly assign owners and team members responsibilities for each aspect of the plan.

c. Milestones

• Identify key milestones including funding secured, location leased, and staff hired.
• Milestones mark progress for long-term objectives.
• Establish measurable KPIs aligned to goals for monitoring performance.
• Examples include revenue, new patient volume, and retention rate.

With a well-defined timeline, assigned roles, milestones, and KPIs, you can execute your plan strategically and monitor progress. Adjust quickly when needed.

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Section 13. Exit Strategy

This section considers future exit plans .

a. Exit Plan

• Outline tentative exit plans for exiting ownership or selling the business.
• Discuss growth opportunities like expanding locations.

b. Exit Routes

• Detail various exit options such as selling to a partner, competitor, or private equity.
• Consider an IPO or liquidation sale.

c. Exit Timing and Conditions

• Define the circumstances or conditions that would trigger executing an exit plan.
• Establish a target timeline connected to growth goals.

Planning a future exit strategy allows you to capitalize on the value created and realize your hard work. It also provides current investors with visibility into their ability to realize returns.

Section 14. Appendices

This section provides supporting materials.

a. Supporting Documents

• Include detailed market research, competitive analysis, legal agreements, marketing budget sheet , etc.
• Provide raw data that reinforces assertions made throughout the plan.

b. Additional Information

• Add financial worksheet calculations, product photos, and management profiles.
• Include any extra info that gives deeper insight.

The Appendices bolster the credibility of your plan by allowing readers to dive into the research and back up behind your strategy. Use them to provide critical supplemental information and reinforcement of key points.

Opening a thriving medical spa takes more than just passion – it requires a thoughtful, strategic business plan. This comprehensive guide outlined the key elements for crafting a plan tailored to your unique offerings and market.

Now it’s time to put these tips into action. Consult experts, research your market, and create accurate financial projections. With a customized roadmap in place, you can confidently seek funding and make smart business decisions.

Turn your dream into reality. Download our free medical spa business plan template to get started mapping out every detail – from marketing tactics to profit forecasts. With this ready-made blueprint, you have the head start you need to build a profitable medical spa.

Don’t leave your success to chance. Gain the edge with a meticulous plan. Download the template today and propel your medical spa toward lasting prosperity.

Here are answers to the 10 common medical spa business plan questions:

The key sections to include are Executive Summary, Company Overview, Market Analysis, Marketing & Sales, Services, Operations, Financial Projections, and more.

Aim for less than 50 pages. The core plan should be 15-30 pages with supporting documents in the Appendices. Be concise and avoid fluff.

Consider your time availability and expertise. Hiring a professional can provide experience, but costs more. Doing it yourself saves money but requires dedication.

Financial projections should be detailed, comprehensive, and conservative. Thoroughly explain funding needs and uses, expected returns, and repayment plans.

Expect at least 2-3 months for a thorough planning process involving research, writing, and expert input. But quality trumps speed.

Leverage industry data, supplier quotes, and advisor consultation to estimate costs. Build in buffers for unexpected expenses.

Yes, seek expert feedback from those with medical spa, finance, and business plan experience. Incorporate constructive feedback.

Review the plan regularly, but formal updates annually or biannually are recommended to keep information current.

Online templates, advisor consultation, investor pitch resources, and medical spa business planning guides/examples.

Research-backed, detailed competitive analysis and financial planning are critical foundations throughout.

10 Additional Resources

Here are 10 websites a medical spa owner can use for additional business planning resources:

• SBA.gov – The US Small Business Administration offers guides, tools, and articles on business planning.
• SpaBusiness.com – News, insights and education for the global spa industry.
• SpaOpportunities.com – Spa and wellness industry news and business education.
• BPlans.com – BPlans provides free sample business plans and templates for many industries.
• Consulting.com – Consulting firms like Deloitte provide business plan writing tips and best practices.
• Inc.com – Practical startup and business planning advice in the Inc. magazine archives.
• AllBusiness.com – Articles and guides on writing effective business plans to achieve success.
• MedEstheticsMag.com – Business and finance articles for medical spa owners.
• WellSpa360.com – Articles, news, products, blogs and videos from Wellspa 360.
• Lucidchart.com – Interactive business plan template you can edit visually.
• Write your business plan | Small Business Administration https://www.sba.gov/business-guide/plan-your-business/write-your-business-plan
• Choose a business structure | Small Business Administration https://www.sba.gov/business-guide/launch-your-business/choose-business-structure
• Starting A Profitable Aesthetic Medical Practice | International Association for Physicians in Aesthetic Medicine https://iapam.com/starting-medical-practice
• Fund your business | Small Business Administration https://www.sba.gov/business-guide/plan-your-business/fund-your-business
• Medical Spa Market Size, Share & Trends Analysis Report By Service (Facial Treatment, Body Shaping & Contouring), By Age Group, By Gender, By Service Provider, By Region, And Segment Forecasts, 2023 – 2030 | Grand View Research https://www.grandviewresearch.com/industry-analysis/medical-spa-market
• Women Spend Nearly $1K on Their Appearance Each Year: See How Their Spending Compares to Men’s | Go Banking Rates https://www.gobankingrates.com/saving-money/savings-advice/women-spend-1k-on-appearance-each-year-how-spending-compares-to-men/
• What is aesthetic medicine? | The American Academy of Aesthetic Medicine https://www.aaamed.org/aesthetic_med.php
• Create a business vision | Bussiness Queensland Government https://www.business.qld.gov.au/running-business/planning/vision
• Business Marketing: Understand What Customers Value | Harvard Business Review https://hbr.org/1998/11/business-marketing-understand-what-customers-value
• Understanding Markets and Customers | Study Smarter https://www.studysmarter.us/explanations/marketing/marketing-information-management/understanding-markets-customers/
• 4 ways to develop your strategic thinking skills | Harvard Business School https://online.hbs.edu/blog/post/how-to-develop-strategic-thinking-skills
• Organizational Chart Types, Meaning, and How It Works | Investopedia https://www.investopedia.com/terms/o/organizational-chart.asp
• Investment in Employees is Key to Business Success | University of North Georgia https://ung.edu/continuing-education/news-and-media/investment-in-employees.php
• Typical Marketing Channels | University of Minnesota https://open.lib.umn.edu/principlesmarketing/chapter/8-2-typical-marketing-channels/
• Identifying and managing business risk | Queensland Government https://www.business.qld.gov.au/running-business/risk/identify-manage
• What Is A KPI? Definition & Examples | Forbes https://www.forbes.com/advisor/business/what-is-a-kpi-definition-examples/
• The Easy (and Free) Way to Make a Budget Spreadsheet | The New York Times https://www.nytimes.com/2019/01/16/technology/personaltech/the-easy-and-free-way-to-make-a-budget-spreadsheet.html
• Workforce Planning: Keys to a Successful Staffing Plan | Walden University https://www.waldenu.edu/online-masters-programs/ms-in-human-resource-management/resource/workforce-planning-keys-to-a-successful-staffing-plan
• 4 key components of a financial plan, U.S. Bank https://www.usbank.com/financialiq/plan-your-future/manage-wealth/anatomy-of-a-financial-plan-key-components-of-financial-planning.html
• Writing Goals and Objectives | Northern Illinois University https://www.niu.edu/citl/resources/guides/instructional-guide/writing-goals-and-objectives.shtml
• Beginners’ Guide to Financial Statement | U.S. Securities and Exchange Commission https://www.sec.gov/reportspubs/investor-publications/investorpubsbegfinstmtguide
• Opening a Day Spa Costs $203,000 to $328,000 on Average | SharpSheets https://sharpsheets.io/blog/how-much-day-spa-cost/
• 3 Steps to Assemble the Right Infrastructure Building Blocks to Successfully Scale Your Business | Entrepreneur https://www.entrepreneur.com/growing-a-business/how-to-build-the-infrastructure-needed-to-scale-your-company/438387
• Marketing Reading: Brand Positioning | Harvard Business School Publishing https://hbsp.harvard.edu/product/8197-PDF-ENG
• Medical wellness initiative, 2023 trends | Global Wellness Institute https://globalwellnessinstitute.org/global-wellness-institute-blog/2023/06/29/medical-wellness-initiative-trends-for-2023/
• Pipeline Management: What It Means in Different Industries | Mailchimp https://mailchimp.com/resources/what-is-pipeline-management/

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How to Run a Profitable Med Spa

For medical spa owners looking for a plan on opening a profitable medical spa practice, understanding the principles listed below can help you on your journey to a long-lasting med spa business.

The expanding interest in non-surgical treatments and the rapidly growing number of medical spa practices paint a picture of a very lucrative and popular industry. And while it is true that there have never been more medical spas open and operating, and that the number is quickly rising, success in this industry isn't guaranteed.

Med Spa Business Overview

A medical spa requires high-level business acumen, a thorough understanding of local medical rules and regulations, and dedicated, properly trained employees in order to succeed.

Since the treatments offered in a medical aesthetics practice - injectables like neuromodulators and fillers, energy devices like lasers and body contouring devices, or treatments like PRP, thread lifts, microneedling, IV therapy and more - are medical procedures, it's natural that medical professionals like physicians, PAs, NPs and RNs are gravitating to the space. Medical training, however, doesn't cover business.

Read on for a crash course in the business fundamentals of opening a successful medical spa practice, including:

• The financial process of opening a medical spa
• Medical spa business plan
• Building a medical spa team

For more information on how to open a med spa, visit our How to Open a Med Spa Resource Page .

For a deep dive on opening and running a profitable med spa, networking and making vendor partnerships, attend an AmSpa Medical Spa Boot Camp.

1. The financial process of opening a medical spa

Opening a medical spa business to be profitable and sustainable in the long term requires a lot of planning to set yourself up for success.

Just like with any small business, having a clear and well-defined business strategy and financial plan is crucial for a smooth start-up process. It lays the foundation for success and ensures that you are well-prepared to hit the ground running financially.

Whether it's identifying your target market, analyzing competition, or mapping out your financial projections, a well-crafted business strategy and financial plan will serve as a roadmap to guide you towards achieving your goals.

By following these steps diligently, from the initial stages of planning to the much-awaited opening day, you will be equipped with the knowledge and tools to navigate the challenges that may arise along the way.

Make a business plan for your medical spa

We'll go into more detail on this below, but when putting together your business plan keep the following questions in mind:

• What treatments and services do you plan to offer?
• What partners, providers and staff will you need to hire?
• What technology, equipment and inventory will you need?
• How much will the physical space cost? Are you leasing or buying? Do you need to build out that space?
• Do you need a management services organization (MSO) in order to be compliant? Have you established a management fee structure?
• How do you plan to market your practice before opening? Have you set a marketing budget? 
• Will you offer memberships?
• Will you need lending?

Once you have a business plan in place, what are the next steps to opening your medical spa practice?

You'll need to address the financial aspects, and you will need to plan business and legal operations.

Additionally, you'll develop a comprehensive marketing plan, unlocking the potential to effectively promote your business and engage your target audience. You will need to analyze your geographic location, carefully assess the competitive landscape and highlight the unique factors that differentiate your practice from other establishments nearby.

Understand your state's med spa laws

While medical spas need to be run as a business to be successful, since most of the services performed are medical treatments, the organization needs to adhere to the same rules and regulations as any other medical practice.

The main legalities to be aware of concern ownership, the good faith exam, supervision and delegation and provider scope of practice.  Medical spas also have to be aware of patient privacy issues, fee splitting and medical-specific regulations regarding truth in advertising.

Read more here about how to open a legally compliant med spa .

Put the right partners in place

You’ve laid out your plan for success—now it's time to assemble a team that will bring it to life. Your team will be the driving force behind your business, the beating heart that propels it forward. It is of utmost importance to carefully select the right individuals who will not only contribute their skills and expertise but also align with the vision and values of your organization.

Nobody is excellent at everything, and as a business owner it's important to understand the tasks you can handle, and the aspects of your practice where you need to bring on support. Together, you and your hand-picked team will form an unstoppable force, ensuring the realization of your business goals and paving the way for a prosperous future.

From a legal standpoint it's important to have people on your side who understand the specifics of this industry and how much variability regulations can have state by state.

In terms of business operations , like any small business you'll need solutions for accounting, insurance, marketing, HR and in some cases assisting you with both the day-to-day and long-term financial planning of your practice.

Of course, as a service-based industry, having excellent clinical and non-clinical providers is essential to your success. The quality of your nurse injectors, NPs, PAs, laser technicians (depending on your state's laws) and aestheticians can make or break your practice.

Set up your financial processes

Once you've established your plan, understand how you will tackle the brass tacks, every day financial tasks required to run a successful business. Have answers to these questions before you open your doors.

• Do you have a bookkeeper and/or online accounting software to track your monthly transactions?
• Are you writing checks or using digital tools to pay your bills?
• How are you managing and running your payroll?
• What software solutions do you need? Do you have an electronic medical records system and/or a point-of-sale system? How are you handling scheduling for consultations and treatments?
• What KPIs are you measuring and how often are you reviewing them?

Set up other operational procedures

As a medical practice it's very important to have SOPs for every procedure your practice offers. You'll also want to set up processes for managing inventory and supplies, room turnover, patient follow-up and so on. AmSpa members save up to 50% on standard operating procedure form packages, intake forms, consents and more .

Together, you and your providers can avoid inefficiencies and set standards moving forward.

Read more detail on the financial process for opening a med spa here .

Listen as AmSpa CEO, Alex R. Thiersch, JD, speaks with Nick Liguori, CPA, founder of Liguori Accounting. They discuss the bookkeeping challenges medical spas face and the steps you can take throughout the year to prepare for tax season.

Build a sustainable business

Learn more about growing your practice

Download this e-book for more information on medical business best-practices. This PDF features a collection of blogs from the AmSpa website covering topics like:

• Best Practices in Designing a Medical Spa
• Reconsidering the C-Corp
• The Financial Process for Opening a Medical Spa
• Med Spa Business Planning: Step by Step
• How to Hire and Recruit the Best Team for Your Aesthetic Practice
• Three Strategies for Your Compensation Structure
• How a Medical Spa's Service Mix is a Predictor of Success

2. Medical spa business plan

A detailed business plan is essential for a successful medical spa practice. In any small business it is possible to be busy, to be generating a lot of cash and to still be losing money. It's important to remember that sales don't always equal profitability.

To achieve a positive bottom line, it's crucial to closely monitor operating expenses and truly understand the significance of the numbers and how to keep them in proper alignment. This involves breaking down the numbers into manageable, actionable steps that can be taken on a daily basis.

A properly laid out business plan not only lets you walk forward with confidence in your day-to-day operations, but it also sets you up for success if you need to raise capital in the form of investments or loans.

It all begins with having a clear vision for your practice. By envisioning where you want to take your business, you can create a roadmap for financial success. This vision serves as a guiding light, helping you make informed decisions and prioritize your financial goals.

To get started on making your medical spa business plan, get to know the following concepts.

Financial projections

Including pro forma financial statements is a crucial aspect of every business plan. These statements not only provide a snapshot of your current financial position but also serve as a powerful tool to project and anticipate the future profitability of your business.

When crafting your projections, it is paramount to base them on realistic research and reasonable assumptions. Honesty and transparency are key, as any exaggeration of revenues or underestimation of expenses can lead to misguided expectations and potential financial instability down the line. 

By presenting a comprehensive and accurate financial forecast, you can instill confidence in lenders and investors, demonstrating your commitment to responsible financial management.

Including well-crafted pro forma financial statements is not just a formality, but a critical step towards establishing the credibility and viability of your med spa. These may include:

• Pro Forma Income Statement
• Pro Forma Cash Flow Statement
• Pro Forma Balance Sheet
• Yearly Projections (Income Statement, Cash Flow Statement, & Balance Sheet)

Income statements

Income statements are a valuable tool for assessing the profitability of your business. By carefully reviewing your gross sales in comparison to the expenses you incur, you can gain insights into the overall health and performance of your operations. This allows you to accurately calculate both your gross service and retail sales, while also accounting for the various costs associated with running your business.

While you do not necessarily have to personally handle the calculations, it is crucial to understand the process and its implications for your business.

If numbers and financial analysis seem overwhelming, don't worry! There are plenty of resources available to help you out. A knowledgeable bookkeeper or accountant can provide expert guidance and ensure that your financial statements are accurate and insightful.

Additionally, widely available programs like QuickBooks can make the process much easier and simplify your financial record-keeping. If you prefer, you can also use a computer spreadsheet program like Excel, which offers flexibility and customization options. There are also some specialized med spa software platforms that can help keep a handle on these figures.

Cashflow statement

The cash flow statement, also known as a budget, provides a comprehensive projection of your business's financial needs in terms of dollars for a specific period. It serves as a crucial tool in determining whether your business can effectively manage its bills and expenses, as well as identifying the precise timing of cash infusions required to sustain its operations.

By focusing solely on actual cash transactions, this statement offers a clear and concise overview of your business's financial liquidity, excluding any non-cash expenses such as depreciation. This analysis allows you to gain a deeper understanding of your business's financial health and make well-informed decisions to ensure its long-term success.

Balance sheet

A balance sheet is a powerful financial tool that provides a comprehensive snapshot of a company's financial health. It not only reveals the value of the company's assets but also highlights its liabilities.

When lenders analyze a balance sheet, they carefully examine key aspects such as liquidity and capital structure. Liquidity measures how easily a company's assets can be converted into cash, giving them valuable insights into its ability to meet short-term obligations. On the other hand, capital structure sheds light on the sources of financing utilized by the company and the amount of debt it has incurred.

By evaluating these factors, lenders assess the strength of a company's cash reserves, the stability of its financing sources, and its overall financial stability. This analysis ultimately aids lenders in determining the level of risk involved in extending credit or loans to the business.

Business owners must prioritize maintaining a healthy balance sheet to showcase their financial competence and ensure a solid foundation for their organization's success.

Payroll expenses

Your costs for salaries, commissions on technician's revenues, EDD, FICA, and workman's comp insurance are totaled and listed here. Managing payroll expenses can be quite challenging, but it is essential to monitor them closely as it directly impacts your profitability.

By developing a strategic plan that aligns with your business goals and allows for profitability, you can overcome these challenges and ensure the financial health of your company.

Get a more detailed look at building your medical spa's business plan , including etc etc etc.

Important medical spa KPIs

You can have most detailed business plan, the best practice management software, the most robust financial projections and the best team in place, but if you aren't utilizing all of those tools and looking at the right numbers you still won't be operating as successfully as you could be. It's important to look at the right key performance indicators, no matter how new or established your practice. According to AmSpa's State of the Industry Report,

• 60% of practices can't calculate their total expenses.
• 30% can't estimate their revenue.
• 21% can't determine their revenue sources.
• 50% can't calculate expenses as part of their total revenue.

You need to understand these baseline financial metrics because without knowing your numbers you can't make informed decisions, you can't course correct and you can't scale. Here are some other important KPIs to track:

• Revenue per hour
• Average revenue per invoice
• Revenue per provider and procedure
• Conversions rates (phone, web, consults)
• Operational—staff capacity and productivity
• Lead acquisition cost—what is converting and how much is it costing?

Read more here about tracking KPIs in your medical spa .

Medical spa KPIs

Measuring KPIs is important for the entire life of your business, but depending on how long you've been open you may have different priorities regarding what to track.

Our Medical Spa KPIs infographic outlines what numbers you may want to focus on for each stage of your practice, from startup to growth stage to established business, according to Randy Torbin, Senior Practice Analyst of Symplast.

Med Spa Business and Legal Training

Get live, in-person training on the laws and business strategies to open a med spa. Network with your peers and learn from industry professionals who have stood in your shoes.

Medical Spa Boot Camps are two day deep-dives into the legal and business must-knows for running a successful, profitable and legally compliant aesthetic practice.

3. Building a medical spa team

Overwhelmingly, when asked about the secret to their success, the top medical spa practices in the country always point to the strength of their team.

As you begin to think about hiring for your business, think back to your original vision and the details you established in your business plan. Be sure to stay true to building the practice that you want, and bring on team members that align with your vision.

It's not just about the skills and expertise they bring to the table, but also the passion and commitment they have towards providing exceptional patient care. Look for team members who share your dedication to delivering top-notch services and creating a welcoming and nurturing environment for your patients. Their enthusiasm will not only contribute to the success of your practice but also enhance the overall experience for your clients.

As your practice grows, be sure to incentivize your team in a way that rewards performance and is financially viable for the long term health of your business.

By staying true to your original vision and making strategic decisions when it comes to hiring and financial management, you can build a successful medical spa practice that stands out among the competition. Remember, your team is the foundation of your success, so choose wisely.

The hiring process in a medical spa

Medical aesthetics is a competitive space, not just for customers but also for quality team members. With the rate that the industry is expanding there are not enough trained aesthetic injectors to meet the consumer demand. Additionally, front office staff that can elevate the patient experience are crucial to your success, and practice managers who understand what success means in this industry are key to long term, sustainable growth.

When it comes to hiring and recruiting, there are many things to consider before you even post the job. It's important to build a job description, and later a job listing, that fulfills not only your needs for today, but also the needs of the practice you want to grow into. Think about the vision you have for your business and how you will need this new team member to contribute to achieve this goal.

Brush up on best-practices creating job descriptions, hiring and retaining team members.

As you proceed to the interview stage it's even more important keep your overall vision in mind. Remember, you're looking to bring on someone with the drive and desire to grow with your practice, not just someone to fill a spot today. Hiring strictly to solve today's need can leave you in a position of bringing in the wrong person and finding yourself back in the hiring process perpetually.

When you interview potential team members remember these tips:

• Always ask open-ended questions. Let the candidate tell you about their background so that you can hear how they communicate. (Example: "Tell me a bit about your background.")
• Clarify information that you find interesting by asking them to elaborate. (Examples: "That's really interesting, tell me more." "How so? What made you come to that decision?")
• Be curious. Try to learn more about what makes them tick and the "why" behind their interest in the position. (Examples: "What made you decide to apply for this position?" "What about the aesthetic industry excites you?")
• Determine their research or motivation level. Ask questions to gauge whether or not they did their homework about your practice. Remember, you are looking for long-term candidates, not just anyone needing a job. (Examples: "What interests you about our practice?" "How much do you know about the services we offer or the clientele we serve?")
• Ask them about their past experiences and how they were able to overcome challenges. This technique can give you a lot of information about the candidate and assess their problem-solving skills. (Example: "Tell me about a time you had a challenge at work or with a customer or client and how you handled the situation.")
• Always end by asking the candidate if they have any questions for you. Putting the ball in the candidate's court can often give you good information about their true motivations and level of interest.

Read more about streamlining the hiring process and interviewing for your medical aesthetic practice.

AmSpa members save 10% on postings on the medical spa job board .

Medical Spa Compensation

Implementing the right compensation structure is critical to the success of your med spa practice. The ideal structure takes into account incentivizing and rewarding your team properly, but also the profitability of your practice.

Keep in mind these five non-negotiable aspects of compensation :

• Must be sustainable. Your compensation strategy must fit your practice's business needs based on factors like length of time open, fixed overhead, projected profits and industry benchmarks.
• Must be a controllable expense. Your payroll structure must fit within your budget and must scale with the level of revenue your practice brings in.
• Must be legally compliant. Medical spas are medical practices, and as such are subject to the same compensations restrictions as medical practices when it comes to things like paying commission .
• Must reward skill and behavior. Be sure that your structure aligns with your team's performance and performance reviews, encourages growth, rewards continued training and learning new skills and rewards meeting performance goals.
• Must provide clear guidelines for growth. To retain talent you need to incentivize based on clear, defined criteria, create a career path for the team member to develop, communicate goals regularly and establish a system to reward based on these goals.

Get more information on the three strategic components of med spa compensation: determining base pay, determining pay increases and setting a bonus structure .

Listen to AmSpa founder Alex Thiersch, JD discuss aesthetic injector salaries, what makes a quality injector and more with Mary Beth Hagan, founder and CEO of Titan Aesthetic Recruiting.

How to Open a Med Spa

Get more information on how to open a successful medical spa practice. Learn the basics of medical spa law: How to Open a Med Spa: Law >> Learn the business and legal ins and outs of medical spas without leaving your chair: Virtual Boot Camp >>

Learn the rules of successful med spa businesses

The medical aesthetics industry is growing quickly as talented medical professionals from a wide range of specialties enter the space. While these practitioners may understand how to work in or run medical practices, medical training does not cover how to run a profitable business. There is a lot of opportunity in running a medical spa, but it's still a competitive field and owning a business of any kind is never easy. Getting a handle on the basics of financials, team management and planning can give any med spa owner a leg up when opening a successful med spa practice.

Med Spa Boot Camp

Two days of deep-dive training on the business and laws of medical aesthetics. Learn from experts, network with your peers and get face-to-face with some of the leading brands in the industry.

Register Here!

Virtual Boot Camp

Medical spa legal and business education streaming directly to your screen. View these sessions on-demand and continually reference the information at your convenience for up to six months. 

Start Watching!

AmSpa Membership

AmSpa members receive online legal references for their state, a free 20-minute compliance consultation with the law firm ByrdAdatto, member pricing for AmSpa events, SOPs, forms and more.

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Industry • Best Practice

Medical Spa Business Plan: A Checklist for Aspiring Business Bosses

Apr.25.2022

All the ingredients to you need to create a slick business plan

Planning is everything when it comes to opening any new business. For prospective medspa owners , there are even more considerations.

From special licensing to HIPAA requirements, there are many things to think about. To help you focus this article provides a comprehensive medical spa business plan checklist.

Let’s get started.

The ultimate medical spa business plan checklist!

Explain the business opportunity (the fun stuff) .

The cornerstone of any medical spa business plan is a clear, data-based articulation of the commercial opportunity. To do this right, you need to have answers to the following fundamental questions: 

What market problem is your spa going to solve? 

How are you going to solve that problem? 

Who is your target market? 

Who is your competition? 

What advantages do you have over your competition? 

As you do the research, calculations, and soul-searching necessary to answer these questions, you must prioritize honesty. It’s easy to overestimate the market size, the effectiveness of your solution, or your superiority to your competitors, but fudging the numbers in your favor won’t get you anywhere. As good as it feels to feel good about your chances, it’s going to take a lot more than positive vibes for you to succeed in the wellness industry. 

That doesn’t mean you should abandon optimism. It does mean that you need to make an effort to balance your natural enthusiasm with the strategic use of skepticism. 

If that kind of thing is challenging for you, then enlist the help of a partner that has a more glass-half-empty disposition. You’ll probably fight with them now, but you’ll be thanking them later.

Marketing and sales, e.g., how you’ll make money

With the business opportunity out of the way, it’s time to flesh out your promotional and sales plan. While it’s not possible to know exactly what will work for your business at the outset — especially when it comes to marketing — don’t turn that uncertainty into an excuse for not doing your due diligence. 

Your marketing plan should outline your overall strategy, messaging, channels, buyer’s journey, and more. Just writing “social media” or “digital marketing” won’t cut it here. It’s 2022: Everyone uses digital marketing and social media. Force yourself to be specific. It will significantly increase your chances of starting on a good foot. For some help, consider reading our article on developing a spa marketing plan . 

Your sales plan needs to explain how you will transform the leads your marketing creates into loyal customers. What sales approach are you going to use? Are you going to leverage a CRM? How are you going to use email? To nail this part of your medical spa business plan, you have to think through how you will approach each step in the conversion process.

Be a smooth operator

Now it’s time to detail the physical characteristics of your new business. The operations section of your medical spa business plan will describe your facilities, outline the complete tech requirements, and list every major piece of equipment you’ll need to keep the lights on and the customers happy. 

Facilities: This includes the characteristic of a good location, the space range you’ll need to run your business, what kind of parking situation you want, and more. In general, the purpose of this part of the plan is to be a framework for evaluating potential locations, so you don’t need to be ultra-detailed. But you do need to identify the essentials of a good spot — and note any red flags. 

Technology: This is an exhaustive description of your technology requirements, covering your overall IT infrastructure, entertainment systems, patent documentation platforms, spa management software , payment and POS systems , and treatment technology. That last category includes the devices needed for body contouring, laser hair removal, chemical peels, botox injections, dermal fillers, microdermabrasion treatment, etc. 

Additional Equipment: Isn’t that everything? Not quite. You also need to create a list of all furniture you’ll need for your business, from lobby chairs to specialized spa beds.

Figure out the finances (everyone’s favorite)

Sure, your medical spa will be built on good client relationships. But business is also a numbers game, which means you will need to get your financials in line if you want to succeed.  

Financial statements: You’ll need to create three critical financial documents: an income statement, a cash flow statement, and a balance sheet. The income statement allows you to understand your gross revenues versus expenses. Your cash flow statement breaks out your business’s financial needs across time. Your balance sheet gives you a clear picture of what you own — your assets — versus what you owe — your liabilities. To create these forward-looking documents, you’re going to need to have realistic estimates of the money you’re going to make versus the money you’re going to spend. 

Revenue projections: To make this calculation, you need to multiply your expected average total service price times your projected capacity, something which you should assume to be quite low at first. To ground your earnings numbers in reality, it might also be helpful to look up the average medical spa revenue and profit margin. According to recent research, the average medical spa revenue is around $1.6M , and the average profit margin is 38% . 

Expense projections : While estimating the revenues can be a somewhat enjoyable exercise, few people like to break out a calculator to add up all their expenses — but that’s just what you’ll have to do. This means tallying what it’s going to cost you to provide your services, advertise, pay your employees, take care of waste, manage inventory, handle insurance requirements, and more. You also want to break these expenses into fixed and variable categories — this will help you understand what line items to watch.

Tackle the industry-specific stuff

Although much of what we’ve covered above pertains to businesses in general, there are quite a few medspa-specific considerations that need to go into your business plan. Because you’re technically providing a medical service to your clients, your business will need to comply with a unique set of legal requirements. First and foremost, you must consult a lawyer. They’ll make sure you get this right — and you can’t afford to get it wrong. 

That said, there are three areas you will need to keep in mind: licensing, HIPAA requirements, and payroll structuring.  

Licencing : The specific licensing requirements vary according to the state you’re in and the treatments you offer, but some general boxes need ticking. To run a medical spa in the US, you need to be either a licensed physician or a physician-owned business. 

HIPAA requirements: To ensure your medical spa protects the medical privacy of your clients, your entire staff needs to be regularly trained on HIPAA compliance . You should also schedule a thorough HIPAA Security Risk Assessment, something you can either run with your team or hire a consultant to perform.  

Payroll structuring: Unlike standard spas, medical spas cannot pay their nurses and support staff the same way. Due to medical law, these businesses need to use multiple payroll structures to deliver employee salaries.  

We know: It’s a huge list. But we also know that if you’re reading this post, you’re doing the work, and if you the kind of person who does the work, you’re also the kind of person who can run a successful medical spa.

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The 2024 guide to creating your medical spa business plan

Are you a medical spa owner looking to optimize your business?

Valued at US $5.6 billion in 2023, the U.S. medical spa market is expected to grow 15.20% from 2024 to 2033. Undoubtedly, the medical spa industry is a profitable space, but the key to success is having a solid business plan in place, one that will help you steer and grow your medical spa business in the right direction.  

This may sound like a lot of work. However, creating a medical spa business plan is not as hard as you may think. Read on to learn why a business plan is important, which key elements to include in your medical spa business plan, and how you can create the perfect plan for your medical spa business.

Why do you need a business plan for a medical spa?

The main reason for a medical spa to have a business plan is to drive profitability, and to course-correct if your business isn’t headed in the right direction.  

The medical spa business plan is your North Star. It gives you direction, guidance, stability, and purpose. It also helps you through each phase, as you start and manage your medical spa business. Your business plan can guide you on how to structure, and grow your business. It can give you a clear picture of how your business will function so you can plan to achieve your milestones strategically.

With a solid business plan, you also increase your chances of getting funding or joining hands with like-minded business partners. When investors see a well-researched plan in place, they can be more confident of getting a return on their investment. The plan allows them to gauge your capability to operate your medical spa business successfully and professionally.  

Check out this FREE business plan template and unlock growth for your medical spa business.

How to write a business plan for a medical spa

Here are the key elements of a medical spa business plan and what should be included in each section.

1. Industry analysis

Begin with an overview of the medical spa industry. Extensive research is a way to educate yourself, so you gain a better understanding of the medical spa industry, adding conviction and a sense of your expertise.

Provide facts and figures for key details such as industry size, market size for your medical spa, and a growth forecast over the next 5-10 years. Also include data on industry trends, factors affecting the industry, key competitors, and suppliers.  

Industry analyses for the med spa business plan are best done using any of these models:

• Competitive forces model (Porter’s 5 forces) – One of the most popular for industry analysis, this model covers five forces for an accurate impression of the industry and makes analysis easier.  The five forces are: rivalry among existing competitors, threat of new entrants, bargaining power of buyers, bargaining power of suppliers, and threat of substitute products or services.
• Broad factors analysis (PEST analysis) – PEST (Political, Economic, Social, Technological) analysis is a useful framework for analyzing the external environment of a firm.
• SWOT analysis – SWOT (Strengths, Weaknesses, Opportunities, Threats) is another popular method of industry analysis, to gauge the impact of these factors on a business.
• The McKinsey 7-S framework – This model analyzes organizational effectiveness, ensuring all components, such as strategy, structure, shared values, and skills are aligned.  

2. Company analysis

In this segment, provide details on the kind of medical spa you plan to operate. For instance, is it more of a traditional spa, with some services requiring medical supervision? Or do all services provided by your medical spa business require medical personnel to supervise and perform them?

In addition, provide a background of your business. Add information such as when and why you started the medical spa business, significant milestones achieved, and the legal structure of your business.

3. Customer analysis

Elaborate on your customer profile, either existing or target. Outline the desired customer segments, their demographics, and psychographic profiles.  

Demographics must include parameters such as age groups, gender, geographic locations, and income levels of the customers you serve or seek to serve.  

Psychographic profiling explains the needs and wants of your target customers. The more detailed the information, the better you understand your target customers.

The quality of your market research will determine how accurately you profile your target customers.  

Market research calls for various methods such as:

• Face-to-face interviews – One-to-one Q&A sessions are most useful when collecting a large amount of information from a small sample of subjects, or while speaking to an expert.
• Focus group discussions – This method gathers data from a small group of people who are often subject matter experts. 
• Survey research – Conducted online using survey tools, this type of research offers a convenient and cost-effective solution for larger populations.

Nowadays, a lot of this research can also be done online, making the process more convenient and efficient. Use a judicious combination of these research methods to get the best results.  

4. Competitive analysis

Include information on your direct and indirect competition, focusing more on the former. Direct competitors are other medical spas in your chosen segment. Indirect competition includes traditional spas or home treatments.

Provide more details on your direct competitors, which are typically other medical spas in your catchment area. Document their services, the customers they serve, their pricing, and their strengths and weaknesses, as perceived by their customers.

This section should also detail your competitive advantage, whether it’s the range of services, quality of products, the special techniques you use, your competitive pricing, or exceptional customer service.

Some of the best competitor analysis frameworks are:

• Porter’s five forces – Using the model (explained above, under industry analysis), this time in the context of competitive analysis.  
• SWOT analysis – Analyzing the strengths, weakness, opportunities, and threats of each of your competitors.
• Perceptual mapping – Using a price-benefit positioning map to see, how your product compares with competitors in a market . 
• Strategic group analysis -– Evaluating the performance of other companies with characteristics similar to yours, to help you identify lucrative business opportunities.  Learn how to draft a strategic group map .
• Marketing mix/7 Ps model – In addition to the 4 Ps of product, place, price, and promotion , this model considers the following three Ps: people, process, and physical evidence.

5. Marketing plan

This segment details the 4Ps of the marketing plan for your medical spa business . Use this section to provide detailed information on your product offering, pricing plans, location information, and how those specific locations impact your business, most importantly, your promotions. The promotion plans for your medical spa business can detail how you intend to drive customers to your business, whether through traditional marketing, digital promotions, or a mix of both.  

Apart from the models and frameworks mentioned in previous sections, here are some of the more popular models to help frame your medical spa business marketing plan:

• STP marketing model – STP stands for segmentation, targeting, and positioning of customers, to make appropriate marketing plans. This model can help a medical spa business identify ways to compete more effectively.  
• AIDA – This model features the four stages of buying: Awareness, Interest, Desire, Action.
• Ansoff matrix – Use the 2x2 grid with four strategies to grow your business and analyze potential risks.
• Product life cycle – Examine the four stages ( introduction, growth, maturity, and decline ) to develop new products, refine existing ones, and recognize when it’s time to discontinue a product.
• The McKinsey 7-S framework – Strategy, structure, systems, styles, staff, skills, and shared values impact business success because they drive an organization’s ability to stay agile through change.

6. Operational plan

This section provides details on specific, daily, short-term tasks and processes required to meet business goals. In other words, it covers what you will do on a day-to-day basis to run your medical spa business . It should also talk about the long-term goals you plan to achieve.

7. Management team

The med spa business plan should showcase the strength of your management team and inspire confidence in them. This team will underpin the successful running of your med spa business, so make good use of this section of the plan to highlight their backgrounds, key skills, and experience as vital to business growth.

If your medical spa has an advisory board that mentors your business and gives strategic guidance, include those details as well. This will help strengthen the profile of your management team.

8. Financial plan

Arguably, the financial plan is the most important section of the med spa business plan, as most everything boils down to hard numbers when gauging business viability. Your financial plan statements should include five-year projections of your income statements, balance sheets, and cash flow statements. Use extensive research to root such assumptions in reality, a worthwhile effort to create a convincing business plan.

Download now: Estimate your medical spa start-up cost and monthly expenses [Get your calculator]

9. Appendix

All financial statements and supporting documents live in this section, to make the med spa business plan realistic and more compelling.

10. Executive summary

This section is typically written last, even if your medical spa business plan will open with the executive summary. It gives readers a bird’s-eye view your med spa business plan. It should quickly engage the reader, providing a brief overview of each section, while piquing their interest for details.

Putting together a detailed, well-researched business plan for your medical spa business is the backbone of success. Such a plan can help you become an expert in launching and growing your medical spa business.  

As you create your business plan, give thought to the software platform you’ll use to manage your medical spa. The award-winning Zenoti platform offers HIPAA-compliant, modern medical spa management software , serving as a vital technology partner for fast-growing medspa brands like VIO Med Spa and Removery .

With its cutting-edge EMR software , Zenoti helps your medical spa business communicate with clients quickly and efficiently, streamlines POS payment processing, and provides a superior customer experience .

Download the free medical spa business cost calculator from Zenoti for a comprehensive analysis of expenses, real-world projections, and other customizable features to hit the ground running and achieve sustainable growth.

Explore the benefits of Zenoti software for growing medical spa businesses .

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Creating a successful medical spa business plan: a guide for entrepreneurs

Craft your medical spa business plan with our insightful guide for entrepreneurs. Discover the steps from market analysis to growth tactics.

Table of contents

Welcome, entrepreneurs, to the exciting journey of creating your own medical spa business! The medical spa industry is filled with unique challenges and opportunities. With the right approach and business plan, success is within reach.

In this guide, we’ll walk you through the essential steps to create a comprehensive business plan for your medical spa, covering everything from market research to choosing the right software solutions.

By the end of the article, you will have the tools to create a plan that positions your business for long-term success in this growing industry. Essentially, this is a med spa business plan template.

Before we dive in and explore the key ingredients to creating successful medical spas’ business plans check Appointible scheduling software for medical clinics →

Step 1: Define Your Medical Spa Services.

As with any business, it’s essential to clearly understand the services you will provide. Your services will ultimately be the foundation of your medical spa. They should be chosen strategically based on your target market and your competition.

Here is what you need to pay attention to when listing your services.

Identify the services you will provide

Start by brainstorming a list of possible services that you could offer. Consider what services are in high demand in your area – laser hair removal, botox, etc. – and what would set you apart from your competitors. It’s good to have a mix of both popular services and unique offerings that make your business stand out.

After you build your list, consider the following questions:

Are there any services that are particularly profitable or in high demand?

Are there any services that require specialized training or equipment?

Are there any services that your competitors do not offer?

Narrowing down your list and choosing the services that will be most successful for your business. Here are a few ideas:

Cosmetic services

Vein treatments

Botox and dermal fillers

Laser hair removal

Chemical peels

Microdermabrasion

Microneedling

Skin rejuvenation treatments

Body contouring

Medical weight loss

Other skin care services

Regulations and licensing

Medical spas are subject to many regulations and licensing requirements. They vary depending on location and services offered. Research the rules in your area and ensure that you are in compliance.

Some standard regulations and licensing requirements for medical spas include the following:

Obtaining a license for medical practice or nursing;

Getting a business license for medical services;

Complying with health and safety regulations;

Meeting requirements for medical waste disposal.

Connect with like-minded entrepreneurs on Facebook groups or forums. Most medical spas have undergone the same process and can give tips and advice.

Another place to look for more information on the topic is the American Med Spa Association  website . They have a wealth of knowledge about existing medical practices and new businesses.

List the staff you will need to hire

You can be the best of your craft, but even if you decide to provide services on your own, you will need at least a management team behind you.

Go back to the list of services you decided to provide and determine what staff you will need to hire in the short term. Consider what skills and experience you will be looking for in each role, and consider what training or certifications they need.

Assess your competition

Analyzing your direct competition – those in your vicinity – is one of the most critical steps when writing a successful medical spa business plan. Research other medical spas in your area and take note of the services they offer, their prices, and their marketing strategies.

Consider what sets your business apart from them and what you offer that gives a competitive advantage.

Are you offering lower prices?

Is your medical clinic specialized in some way?

Do you offer a thematic or different experience that other local businesses don’t have?

You may want to focus on a specific niche or offer services that are not commonly available in your area. Understanding your competition allows you to make more informed decisions about the services you offer and how you market your business.

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Step 2: Structure your medical spa finances.

In the end, a business can be dissected into the money that gets out and that gets into your business. A financial plan is a mandatory part of any medical spa business plan. In fact, any new business that kicks off without financial statements is likely doomed.

We will not dive too deep into the ins and outs of cash flow statements, financial projections, or bank loans. In this article, we want to highlight that the “money out” has to start with budgeting and the “money in” with pricing.

A: Budgeting

“A budget is telling your money where to go instead of wondering where it went.” The quote from Dave Ramsey’s pictures really shows that budgeting is all about planning and keeping track of your money so that you know how much you can spend and where you need to save.

Here are the key lines you will need to include in the budget part of your medical spa business plan:

For rent, water, electricity, and other utilities:  A physical location is essential for your medical spa, which means paying rent or a mortgage, as well as utilities like water and electricity. Research the average costs for these expenses in your area to budget appropriately.

For equipment:  Medical spas require specialized equipment such as lasers, microdermabrasion machines, and other high-tech devices. These can be expensive, so budget carefully. Consider leasing or financing equipment to spread out costs.

For medical and cosmetic supplies:  Skincare products, injectables, and other medical devices are necessary for your medical spa. Budget for these supplies and factor in markups or discounts you plan to offer.

For marketing costs:  Attracting new clients requires investing in marketing your medical spa. This may include advertising, social media campaigns, and promotions. Set aside a budget for these expenses and consider hiring a marketing professional to maximize your budget.

For hiring your staff:  Your medical spa will require a team of highly skilled professionals, including licensed aestheticians, nurses, and physicians. Budget for competitive salaries and benefits to attract top talent.

For business insurance and license:  Liability insurance and appropriate licenses and certifications are essential for a medical spa. Budget for these expenses and consider legal or regulatory costs associated with starting a medical spa.

For learning:  The medical spa industry is constantly evolving, so stay up-to-date with the latest trends and techniques. Budget for ongoing education and training for yourself and your staff.

Prices and rates:  Balancing covering expenses with competitive prices is critical. Research other medical spas’ prices in your area and consider your unique value proposition. Consider offering package deals or memberships to encourage repeat business. 

B: Prices and rates

Setting your prices has everything to do with your physical location and who is your target market. These are things we will discuss in greater detail further down in the article. For now, it’s important to know how to strike a balance between affordability and profitability. Here are some tips to help you set prices for your medical spa services:

Research your competitors:  Find out what other medical spas in your area are charging for similar services. This will give you an idea of what the market can bear and help you avoid pricing yourself out of the market.

Factor in your costs:  Make sure you’re covering all of your expenses, including rent, utilities, equipment, supplies, and staff salaries. Include a profit margin to ensure that your business is sustainable.

Unique value proposition:  What sets your medical spa apart from the competition? Is it your expertise? Your customer service? Your state-of-the-art equipment? Your prices should reflect the value you offer.

Offer package deals:  We will also elaborate on this further at a later stage in this article. For now, consider offering package deals or membership programs. Packages are a great way to build customer loyalty and increase sales.

Stay flexible:  Don’t be afraid to change your prices as needed. If you’re not getting enough clients, you may need to lower your rates or offer special promotions to attract new clients. If you’re consistently booked up, however, you may need to raise your prices to adjust for the demand.

Setting prices is both an art and a science. Do your research, factor in your costs, and stay flexible. You can find the sweet spot that allows you to grow your business while keeping your clients happy.

Step 3: Choose a physical location.

As the British real-state mogul Lord Harold Samuel coined, “There are three things that matter in property: location, location, location.”

Accessible to your target customers

The first thing to pay attention to when choosing your medical spa business location is how accessible and reachable it is to your target customers – again, this is something we will discuss in more detail later in the article. For now, all you need is a general idea of where your ideal clients are.

You will also need to consider the transportation options in the area. Is there ample parking available? Are there public transportation options nearby? If your customers can get to your venue easily, it is way more likely that they’ll visit you regularly.

Finally, pay close attention to the competition in the area. This a double edge sword, as it can indicate that it is a good place to set up your medical spa, just as much as it can indicate intense competition.

Ambiance, design, and style

Consider how you can tailor the design and ambiance of your medical spa to attract and retain those customers – and yes, you guessed it, we will talk about it in more detail in step 4.

If you’re targeting busy professionals, you may want to choose a location near their offices and create a sleek and modern environment that appeals to their aesthetic.

The size of your medical spa venue will depend on your target market and the services you offer. Consider factors such as the number of treatment rooms, waiting areas, reception areas, and staff facilities.

For example, if you plan to offer a range of services, including massages, facials, and body wraps, you’ll need more space. Medical spas just starting out and only offering a few services can make it with a smaller space. Ideally, your spa size will feel spacious and inviting to your clients while also being practical for your staff.

Step 4: Build your med spa brand.

Yes, this is the step I mentioned a few times earlier in the article. Building your med spa brand is crucial for creating a strong business identity and attracting clients. Here are some steps you can take to build your med spa brand.

Come up with a mission statement.

Your med spa’s mission statement should capture the essence of your business and communicate your values and goals. Think about what you want your med spa to stand for and what sets you apart from your competitors.

A strong mission statement can help guide your business decisions and resonate with your target market. For example, if your med spa specializes in holistic wellness, your mission statement might be something like this:

“Our mission is to provide personalized, natural treatments that promote whole-body health and rejuvenation.”

Define your target market.

Defining your target market is essential for building a successful med spa business plan; Knowing your target market can help you build your services and marketing strategies to better meet their needs.

Who are your ideal clients?

What are their needs and preferences?

What are their age, gender, and social position?

As we already saw a few times in this article, it’s not just making a fuss over nothing. This will set the direction to define your services, choose your physical location, set your prices, and even make financial projections.

Take your time to address target customers with due care in your business plan.

Define your med spa name.

If you have followed the business plan template so far, you already have your ideal client defined, a mission statement, your services, and a cash flow statement draft. All of this should make it much easier for you to pick the right name for your med spa.

Consider what values and qualities you want to communicate through your name and how it fits with your target market.

For example, a med spa that focuses on luxury and high-end services might choose names such as

Opulence Med Spa;

Regal Rejuvenation;

Prestige Wellness Center.

A med spa that emphasizes natural, organic treatments might choose names such as

Pure Bliss Wellness Spa;

Nature’s Touch Med Spa;

EcoSkin Wellness Spa.

Med spa logo and visual identity

Your med spa’s visual identity should be aligned with your brand’s mission statement and target market. We have an entire article on  tips to design a logo ; here I will give you a summarized version of what is in that in-depth guide.

For a luxurious and high-end med spa, you might consider using rich, sophisticated colors such as deep purple, gold, or silver. Pair these with elegant serif fonts, such as Baskerville or Garamond, to create a refined and premium look.

If you decide your med spa will provide natural treatments, earthy or muted colors – such as sage green, soft brown, or pale blue – might be a better option. Modern fonts, like Helvetica or Lato, can also help you create a fresh and natural look.

Spas that focus on medical treatments and procedures can benefit from colors such as navy blue, white, or light gray. Bold, modern sans-serif fonts help build a clean and professional logo. You can consider Futura or Avenir, for example.

For a med spa that focuses on relaxation and wellness, calming colors such as pale pink, lavender, or light blue, paired with soft, flowing script fonts, such as Pacifico or Allura, will create a relaxing and calm look.

Sync your online and offline branding.

Nowadays, most small business owners create brands digitally with tools such as  Canva  or  Adobe Spark . It’s great having your site, social media accounts, and e-mail signature have the same cool design, logo, colors, and font. But what about your spa?

Consistency is key when promoting your medical spa brand. It can feel strange, and maybe even strange, to have one impression of a brand from the online world just to see something completely different in the offline one.

Use the same visuals, messaging, and tone of voice across all channels. Make sure that your physical location reflects the same personality as your online presence.

For example, if your med spa’s branding is focused on relaxation and calm, your physical location should be designed to create a peaceful and welcoming environment, with the right background sounds, colors, staff uniform, etc.

Step 5: Marketing your medical spa treatments

Let’s recap: you have defined your services, built a financial plan, created a brand, and learned what sort of venue you need to pick. We are over with more than half our business plan template, so let’s talk about promoting your medical spa. Let’s talk marketing!

Below we will present some of the main strategies for you to consider initially to attract clients and build a marketing plan.

Social media, social media, and then some more

Social media marketing is an incredibly powerful tool for promoting medical spa treatments. Instagram, TikTok, and Facebook are a few of your best allies when attracting new customers. Here are a few ways you can promote your medical spa on social media:

Before-and-after photos:  Sharing photos of successful treatments is a great way to showcase your expertise and attract new customers.

Testimonials:  Ask satisfied customers to leave reviews with testimonials on your social media accounts. Testimonials are very powerful when potential customers are weighing which medical spa to pick for their treatments.

Educational content:  Share informative and educational content on your social media. This is how your following gets the most value from your content and the main reason for them to stick around. Include tips on skincare, diet, exercise, and stress management, for example.

Behind-the-scenes : Give your followers a behind-the-scenes look at your medical spa. Share photos and videos of your staff, new equipment, and procedures to give an idea of how your business runs daily.

Live Q&A sessions:  Host live Q&A sessions on social media to answer questions from potential customers.

Contests and giveaways:  Encourage engagement on your social media platforms by hosting contests and giveaways, such as a free treatment to followers who share your post or tag a friend in the comments.

Have a website. Period.

Having a website for your medical spa is non-negotiable. It’s the first place potential clients will go to learn more about your services, pricing, and location. It is also the best place to tell your clients the qualifications and professional background of you and your staff.

Besides, with services like Wix, Zyro, and Squarespace, building a new website got easier than ever. They have pre-set templates that allow you to get your business online in minutes.

On your site, include high-quality photos, descriptions of your services, and a booking system like  Appointible . You can also use your website to share blog posts or articles on specific procedures so your clients get answers to their questions before starting a treatment.

Create a promotional calendar.

Having a promotional calendar is the best way to plan and execute marketing campaigns throughout the year, and it is super easy to get started. You can even build it on a notebook, or a free Google spreadsheet.

Your promotional calendar can include what times of the year you will have marketing campaigns, such as discounts on laser hair removal in the summer or hydrating facials in the winter.

Your promotional calendar is also the best place to define what days of the week you are posting on social media and what the post is about. Also, it is a great way to remind yourself to print marketing materials, if you are doing a campaign at your salon.

Network and attend events

Networking and participating in events is a great marketing strategy for medical spas. Health fairs or trade shows are excellent places to put your clinic in front of potential clients. You can also host your own events in your clinic, such as open houses or educational workshops.

You can also offer exclusive promotions or discounts to attendees to encourage them to book an appointment with your medical spa.

Step 6: Get software for managing bookings

As you start your medical spa business, you might not initially focus on technology and software – particularly when it comes to client management.

However, as your business grows, having a reliable appointment scheduling system will become crucial. This is where medical spa booking software comes into play!

WITHOUT a booking software

This is how your day as a medical spa business owner looks without a dedicated booking system.

You waste precious time taking phone calls:  Time is money, especially in the medical spa industry. If you’re constantly on the phone, booking appointments, and answering client questions, it takes away from your ability to manage your business effectively.

You make a mess with pen and paper:  In the beginning, it might seem simpler to rely on pen and paper for appointment scheduling. But as your client base grows, this method quickly becomes unmanageable and error-prone, leading to missed appointments and unhappy clients.

Google Calendar works… kinda:  Google Calendar can be a helpful tool for small businesses, but as your medical spa grows and appointments, staff schedules, and client management become more complex, it can quickly become overwhelming and inefficient.

Client management often gets out of control:  As your client list expands, managing their information and appointment history manually becomes increasingly difficult. Doing so manually can lead to poor customer service and difficulty in accessing essential information when needed.

It’s hard to market services to your clients:  Marketing is essential for attracting new clients and maintaining your medical spa’s growth. However, without the right tools, coordinating your marketing efforts with appointment management can be a major challenge.

WITH a booking software

Behold, the booking software. This is how a typical day at your new business can look like with an appointment scheduling tool:

New clients book treatments 24/7:  Medical spa booking software allows clients to book appointments online anytime, anywhere – even at 3 am on a Sunday. This convenience leads to increased bookings and less work for you.

Marketing becomes second nature:  Integrating your marketing campaigns with appointment scheduling software creates a seamless experience for clients, improving the effectiveness of your marketing efforts. For instance, promotional messages and appointment reminders can be sent using the same software, ensuring consistency and relevance.

Reminders and follow-ups are automatic:  No-shows can negatively impact your revenue and scheduling. With medical spa booking software, you can set up automated appointment reminders and follow-ups, reducing no-shows and keeping your schedule running smoothly.

Managing your medical and management staff gets super easy:  Booking software streamlines staff management by allowing you to create and manage schedules, appointment bookings, and performance tracking. This ensures the right staff members are in the right place at the right time, improving overall productivity and efficiency.

Appointible: The go-to medical spa appointment scheduling software

The key is finding the right software to handle online bookings and automate appointment scheduling. Introducing Appointible: a powerful, user-friendly solution for medical spas in the beauty and wellness industry. Appointible features a modern online appointment booking system designed to help your business grow.

We highly recommend you  start a free account with Appointible  and experience the benefits of seamless appointment scheduling and management for your medical spa business.

Step 7: Growing your medical spa

If you’ve done everything right, there will come a time when growth will be inevitable for your medical spa.

Even though we’re talking about creating a business plan, it’s important to consider growth from the very beginning. You’ll be better prepared if you have a good idea of where your business is headed.

There are two paths for medical spas to grow:

Horizontal spa growth

Horizontal growth means that, over time, your medical spa expands its services, hires additional staff, and potentially opens new locations. This approach aims to broaden your service offerings and reach a wider client base.

If you want to pursue a horizontal growth business model, start by incorporating it into your branding and facility size. For example, you might plan for future expansion by investing in a larger space and equipment to accommodate additional services or retail offerings.

Vertical spa growth

Vertical growth, on the other hand, involves specializing in a select number of services and striving to become the best in those areas. By focusing on a few core services, you can deliver exceptional quality, which may allow you to charge premium prices and keep payroll, supplies, and overhead costs to a minimum.

As you can see, there are multiple ways for your medical spa to grow, and you should choose the one that best aligns with your vision. Research your options, plan carefully, and ensure you adhere to the regulations in your area.

Most importantly, don’t forget to review your efforts and adjust your strategies as needed. With the right mindset and approach, it’s possible to create a thriving medical spa business.

That’s all you need to know about creating a business plan and growing a successful medical spa this year. We hope that this article has been helpful to you and wish you the best of luck in your endeavors!

Don’t hesitate to leave us your opinion in the comment section below.

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Everything you need to know to grow your business

How to create your medical spa business plan [+15 key elements].

By Luciana Dabit

Writing a business plan for your medical spa is one of the hardest tasks when opening up your clinic .

If you want to win over a business partner or secure funding, there are a ton of details you need to include.

And if you’re creating a business plan to strategize your own efforts, it’s still a massive undertaking.

In this guide, we offer tips for writing a business plan, 15 essential sections for medical spa business plans, and advice on how to best utilize your plan once complete.

How to write a medical spa business plan

Follow these smart tips across the essential stages of crafting your business plan.

• Research – Research your local market, target client, existing competitors and their offerings, average regional pricing, and medical spa industry profitability targets and revenue expectations.
• Write and design – Next, it’s time to craft all of the essential sections for your medical spa business template (see list of sections below). You can save a ton of time creating your document by using a template. Canva offers hundreds of free-to-use business plan templates making it easy to find a brand style and format that works for you.
• Implement and adapt – The next step is to implement your business plan and make operations, marketing, and hiring decisions according to your strategy. Of course, you can and should adapt, but any changes made should include research and solid reasoning. (Keep reading for more tips on how to actually utilize your plan.)

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15 essential sections to include in your medical spa business plan.

When writing a business plan for a medical spa, make sure to include these essential sections.

1. Executive summary

Although this section comes first in the business plan, it’s easier if you write it last.

The executive summary highlights the key points of your business plan. Write a quick description of your company, target client, competitive advantages, and main services. Briefly describe your path to profitability and how many months it will take you to hit your break-even point.

2. Company overview

The company overview serves as a bio of your business.

Be sure to include your company name, niche, brand differentiator, mission, and values.

Think of this section as a way to communicate the essence of your business and what makes it special.

3. Management team

Include a photo, headline, and bio for each person on your management team, including all clinicians as well as the head administrator who will run business operations.

Make sure to clarify which person has the necessary medical license to open the medical spa (different regions require nursing, nurse practitioner, or physician’s licenses). In most cases, this person would be you, the business owner. But if you’re a non-medical entrepreneur, you can hire a clinician with the right credentials.

4. Market analysis

A market analysis section should detail:

• Existing competitors, their services, and average ratings across popular review sites
• Weaknesses of your top competitors
• The average prices of popular services
• The main opportunities in your local market (missing services, high prices, poor client experience, etc.)

Make your market analysis section visually appealing. Format key points in bold, colorful font alongside icons to call more attention to the opportunities presented by your local market.

5. Target client

Write a clear description of your target client(s). You might have two or three client personas. For example, one target client might be a 50-to-60-year-old female, while another might be a 20-to-30-year-old female. These target clients will have different problems and goals for treatment.

To keep your plan from being overly complex, have as few target clients as possible. Remember, you can always serve more clients as you grow, but don’t take on more problems than you can solve initially.

For each persona, jot down their age range, gender, concerns, goals, interests, income, and beauty budget.

6. Competitive advantages

How will you win more market share? It all comes down to your competitive advantages.

Create a section in your business plan where you list and describe your top three to five competitive advantages, such as a nicer location, lower pricing, or a more luxury client experience.

You might want to write this section after finalizing the remainder of your business plan so that you know what to highlight here. (But it is important to include it towards the beginning of your plan to hold readers’ attention.)

7. Medical spa location

Write your vetting criteria for your medical spa location, including size, neighborhood, budget, and other factors. If you already have your location picked out, include photos and the key features that make it great.

8. Medical spa services and pricing

List out the medical spa services you plan to offer during the first six months of your business and how much you will charge for each service.

You can also include phases and timelines for adding additional services based on your market research and competitive strategy.

9. Product offerings

Which brands and products will you offer upon launch? Products aren’t just an important source of revenue for medical spas, they also help clients get better results. Choose around five to fifteen products you want to carry initially, based on your inventory budget.

10. Branding

Next, describe the feel of your brand and what you want your brand to convey.

Include your colors, logos, and fonts—if you have them already—or a sampling of example brands you want to emulate.

11. Marketing plan

Map out your marketing strategy. Include your marketing channels, monthly budget, and any services or software you will use to implement this plan. Briefly describe why these particular marketing channels will help you win your target clients.

If you’re not sure what channels to choose as part of your initial path to success, make sure to read our guide on medical spa marketing.

12. Client experience

Add some details and bullet points on where you plan to excel when it comes to the client experience. For example, maybe you’ll offer a loyalty program to reward clients for continuing to book with you. And you might offer a custom branded mobile app where clients can book services, purchase products, meet with you virtually, watch care instruction videos, and track rewards in one place.

13. Operations plan

You need to have some critical business operations dialed in before launch.

Here are some important items to add to the operations section of your plan:

• The medical spa software you intend to use
• Compliance with HIPAA and other regulations
• Necessary equipment, supplies, and back bar inventory for your initial services
• Safe waste disposal

14. Funding

Describe your funding plan and where the money is coming from. If you’re self-funded, write down how much you can invest.

If you’re looking for funding, tally up your initial expenses to get the total amount you need to request.

15. Financial plan and projections

The financial planning section should cover these key details.

• Revenue projections – Include how much you estimate to earn in top-line revenue each year for the next five years.
• Expenses – Create a spreadsheet with one-time setup costs, monthly fixed expenses, service-related expenses, advertising and promotion costs, payroll expenses, product costs and retail expenses, and any other business expenses. Add a link from your plan to this spreadsheet.
• Break-even point – Based on your revenue projections and expenses, you’ll be able to calculate your break-even point, meaning how many months until your medical spa is profitable.
• Accounting plan – Describe who will do your bookkeeping and accounting and what systems they will use.

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How to use your business plan.

Now that you’ve created your business plan, how can you use it?

These are the most common ways to put your plan to good use.

Secure funding (if needed)

Share your business plan with potential working partners, silent partners, or investors. If you’re bootstrapping your business but don’t have all the liquid cash you need, a solid business plan can strengthen your applications for business loans with favorable rates.

Communicate with partners and stakeholders

Use your business plan as a way to document your strategy and communicate clearly with your partners and stakeholders. When issues or disagreements arise, come back to your plan as a way of resolving conflict and clarifying important decisions.

Keep efforts on track and work strategically

Without a business plan, you’re likely to chase whims. The minute you open a business, you become a target for coaches, course creators, consultants, and other gurus happy to sell you on the next big thing. A business plan can help you wrangle your impulses, which is doubly important if you have a partner.

Measure your progress

Your business plan is a document of your decisions, hopes, and dreams. As you move through the initial 12 to 24 months of your business, it can help you track your progress in terms of revenue projections, reaching your break-even point, and hitting certain milestones like adding certain services or marketing channels.

Adapt and document changes

Plans are meant to be changed, but that doesn’t mean it’s okay to just color outside of the lines. If you need to make a change to your initial operations or marketing strategy, you should edit your business plan. This will force you to clarify the updates and write them down, keeping you accountable and minimizing the risks of constant pivoting or shiny object syndrome.

Want to kickstart your medical spa on the right foundation and set your business up for growth? Book a demo of WellnessLiving.

Luciana Dabit, also known as “Nurse Lucy,” is an accomplished Registered Nurse with over 15 years of experience in the healthcare industry. Luciana is Emergency Room certified and has further expanded her expertise by completing cosmetic aesthetics training through the Canadian Association of Medical Aesthetics, obtaining certification in the Botox and dermal filler program. She currently practices as an Operating Room (OR) and Recovery RN at a private MediSpa clinic in Toronto.  

Outside of her clinical role, Luciana serves as the Product & Marketing Manager at WellnessLiving. Drawing on her extensive background in nursing, she brings a unique perspective to the development and promotion of products tailored for the MediSpa industry. Her dual role showcases her commitment to both hands-on patient care and advancing innovative solutions in the evolving landscape of healthcare technology.  

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How to start a medical spa in 7 steps

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This article was updated on July 26, 2023.

How to Start a Medical Spa in 7 Steps

From body sculpting to laser hair removal, medical spas offer clinical-grade procedures in a pampering environment. Today, medical spas are a multi-billion dollar industry , projected to grow considerably over the next decade. For those interested in this burgeoning industry, now is a great time to take your first steps toward opening a spa.

Not sure how to start a medical spa? 

This guide will cover everything from financing to marketing and give you the need-to-know knowledge for starting your medical spa. It all starts with a plan, so read on to establish yourself in the med-spa industry and avoid the pitfalls of starting a business.

Step 1: Design your concept

Every business begins as an idea, and often it takes months and years of brainstorming before the time comes to start implementing your plan.

If you’re asking how to start your own med spa, begin by establishing the basics, such as:

• What services you will offer – What are you looking to offer your customers? Medical spas offer a range of spa services, and most pick a specialty. Medical weight loss, de-aging processes, chemical facial treatments—there’s a plethora to choose from, and you can choose several. Just be certain that you’re not over-expanding your medical spa business's capabilities.
• Describe the look and feel – Medical spas need to offer more than quality aesthetic treatments and medical procedures. They also need to create an inviting and inspiring environment to attract clientele. As Dr. Chikodiri Gibson, owner of New York-based Chi Aesthetics , says “I designed the office space so that it is as cozy as a home. I want my patients to feel comfortable, so we made the atmosphere as inviting as possible.”
• Business size – While every business has room to grow, where you start is ultimately up to you. Are you planning on opening a large business staffed with full-time RNs and aestheticians, or are you looking to open with a smaller staff? Your business size determines the space you need, as well as the number of customers you can take on at any given time.

Your business’s core ideas should be well-established before embarking on your journey as a med spa operator, but remember, you’ll also need to remain flexible. As you move forward, plans may change, and business models may pivot depending on what works best for you.

Step 2: Write your business plan and secure funding

With your concepts laid out, it's time to begin the heavy lifting. Writing a business plan for your medical spa is a major undertaking that requires market research, financial data, and plenty of number crunching. Additionally, a medical spa business plan is likely your path toward funding. 

Investors, banks, and loan officers need extensive documentation to issue you the capital to start your business. Unless you’re starting your business with personal funds, you’ll need to prove that your business can be successful on paper before you can secure financing.

Your plan will need to address business aspects such as:

• Operating costs
• Organizational structure

The aforementioned budgetary numbers are just a portion of your business plan. Ultimately, the plan will cover the full scope of your business, from the executive summary to your five-year plan. Fortunately, with a little expertise and diligence, you’ll be able to craft a winning business plan and secure funding.

Step 3: Sign up for insurance

The cost of business and medical insurance is a top priority in the medical spa industry. While it will likely come up during your business proposal budget, it’s worth emphasizing the requirements for medical spa insurance.

To operate legally and safely, you may need to obtain any of the following types of insurance:

• General liability insurance – A common type of insurance for most businesses, general liability insurance protects you and your business from lawsuits related to accidents and property damage. 
• Professional liability insurance – Also known as malpractice insurance, this specialized service covers lawsuits due to the various services and procedures you perform. If someone claims to have suffered an injury while under your care, professional liability insurance can protect you.
• Workers’ compensation insurance – Used to cover lost wages or medical expenses for your employees in the case of a work-related accident. Many states require workers' compensation insurance for any business with multiple employees.

Step 4: Establish legal compliance

Medical spas offer medical services. Due to the specialized nature of the business, most states require medical spas to be owned by a licensed physician or physician-owned corporation. Fortunately, there are ways for non-doctors to own and operate medical spas while remaining fully compliant with the law.

For non-doctors, med spa ownership is possible through a management services organization (MSO). A MSO works to manage:

• Business operations

Essentially, an MSO controls all aspects of the business, except for the actual medical treatment. You’ll still need to hire a licensed physician (most often a dermatologist or plastic surgeon) to remain compliant, but the day-to-day will remain firmly in your control. For non-doctors, finding a trusted physician to partner up with is a crucial step in building your med spa business.

Step 5: Find your location

The ideal location for your business may depend on your clientele, budget, and plans for expanding. Some medical spas attract customers by setting up shop in busy downtown areas, while others might find success in more rural areas, complete with eye-catching scenery.

No matter where you’re thinking of locating, keep the following factors in mind:

• Zoning – You’ll need to find a location properly-zoned for commercial businesses. Otherwise, you may spend significant money and time negotiating zoning laws with the municipality.
• Parking and accessibility – Give your clients a convenient way to park, arrive, and enter your facility. Likewise, ensure the space is equipped with ramps and elevators. Accessibility is a must for medical spas.
• Competition – If you’re looking to establish your business in an area with several currently operating medical spas, you may want to reconsider. Direct competition in your neighborhood can make starting a new business all the more difficult. Then again, if you offer something that nearby medical spas don’t, you may be the perfect fit for the neighborhood.

Keep in mind, your first location may not be where you stay. After only one year of operation, Angela Johnson, owner of Skintuition Medical Aesthetics in Pocatello, Idaho, opted to move from a small office to a 1,400 square foot space. She was able to make this possible by taking into account all of the factors above and expand her business. 

Step 6: Hire your staff

Doctors aren’t the only staff members you’ll need. Unless you’re planning to operate as a sole proprietor, you’ll need several employees to provide services and assist with daily operations.

The most common hires for medical spas are:

• Registered nurses
• Physicians assistants
• Licensed aestheticians

You may also consider hiring a receptionist, office administrator, accountant, and technical support to get your business up and running faster. Practice thoughtful and ethical hiring practices and conduct a thorough interview process to find the very best candidates.

Step 7: Refine your brand

Who are you as a business? A brand isn’t just how you display yourself through uniforms or your medical spa marketing materials. It’s the essence of your business that your customers come to recognize instantaneously.

Ideally, you’ll already have a clear picture of your business as a brand. Be sure to hone in on:

• Your target audience

From the interior of your spa to your website, work to create a singular brand identity that will make your business unforgettable. 

Step 8: Develop your marketing materials 

Before you can bring customers through the doors, you’ll need to entice them with a strong and strategic marketing plan.

Some spa-specialized marketing ideas include:

• Spa rewards – Encourage customers to return for your services frequently by offering a rewards program. The more they spend, the more points they can earn and put toward future medical spa services. It’s just one way of giving back to your most loyal customers.
• Build local relationships – Consider connecting with other local businesses to build your customer base. You may be able to collaborate with a local day spa and create inter-business discounts that bring more customers into both businesses. Additionally, explore your neighborhood digitally to make more local connections. 
• Customer referral bonuses – Referrals are a simple way to expand your reach using the network you already have. Offer customers referral discounts for recommending your business to their friends and family. It’s a win-win for your business and your customer.

Invite your neighbors to the spa with Nextdoor

It may not be simple, but with some practical advice and a little bit of luck, you’ll be opening the doors of your new medical spa business in no time. Before you start planning your grand opening, check out Nextdoor to start building your presence in your neighborhood.

Claim your Business Page so neighbors can learn more about your med spa and recommend your services to their friends. It’s a simple way to be connected to your community and let the neighborhood know there’s a new medical spa in town. Claim your Nextdoor Business Page and get started today. 

All kinds of businesses use Nextdoor to grow and reach their neighbors

Skin By Lexie is one of those businesses. When she started out in 2020 she had 50 clients - now she has 900.

Sources: 

Research and Markets. Medical Spa Market by Services - Global Opportunity Analysis and Industry Forecast, 2020 - 2030 . https://www.researchandmarkets.com/reports/5215114/medical-spa-market-by-services-global  

SI Live. Connecting beauty and wellness, NYC medical spa focuses on multi-cultural skincare . https://www.silive.com/business/2022/02/connecting-beauty-and-wellness-nyc-medical-spa-focuses-on-multi-cultural-skin-care.html  

Insureon. Business Insurance for Medical Spas . https://www.insureon.com/personal-care-business-insurance/medical-spas  

American Med Spa Association. Can Non-Doctors Own Medical Spas?   https://www.americanmedspa.org/blogpost/1633466/284172/Can-Non-Doctors-Own-Medical-Spas  

East Idaho Business Journal. A year into business, local couple opens larger location for successful medical spa . https://www.idahostatejournal.com/business_journal/east_idaho/a-year-into-business-local-couple-opens-larger-location-for-successful-medical-spa/article_3c9ab1f7-385e-5c7f-8178-aebed6508ffc.html  

Times Union. Monarch Medical Esthetics Serves All People . https://timesuniononline.com/Content/Local-News/Business/Article/Monarch-Medical-Esthetics-Serves-All-People/2/244/135054  

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Medical Spa Business Plan Template [Updated 2024]

Medical Spa Business Plan Template

If you want to start a medical spa or expand your current medical spa, you need a business plan.

You can download our Medical Spa business plan template (including a full, customizable financial model) to your computer here.

To write a successful medical spa business plan, you will first need to decide what type of medical spa you want to open. Do you have a specific medical specialty, such as dermatology or aesthetics, that you want to focus on? Or do you provide a variety of medical spa services such as chemical peels, body contouring or laser hair removal?

You will then need to gather information about your business and the medical spa industry. This type of information includes data about customer demographics, marketing strategies to reach your target market, and 5-year pro-forma financial statements (income statement, balance sheet and cash flow statement).

Medical Spa Business Plan Example

The following sample medspa business plan template gives you the key elements to include in a winning med spa business plan:

I. Executive Summary

Business overview.

[Company Name], located in [insert location here] is a new, state-of-the-art medical spa focusing on providing beauty services and medical-grade skin care products to the surrounding community. Our product and service lines fit nicely with the aspirational tastes and preferences of the local area – young, middle class suburbanites want quality medical aesthetic care, but do not want to pay luxury prices for it.

Products and Services

[Company Name] will provide medspa services for all ages and both genders. Services will include skin rejuvenation, injectable procedures, non-surgical skin tightening procedures, body contouring, and more. The team will continuously expand and improve on the menu of services.

In addition to providing these services, [Company name] will also be a retailer of medical grade skin care products. Customers will find products at [Company name] that they will not find in beauty stores.

Customer Focus

[Company Name] will primarily serve the residents within a 10 mile radius of our location. The demographics of these customers are as follows:

• 27,827 residents
• Average income of $74,700
• 58.9% married
• 49.6% in Mgt./Professional occupations
• Median age: 38 years

This bodes well for [Company Name], as the prime demographic for medical spas is women under the age of 55. In addition, there is growing demand from males for medical spa treatments. Both women and men will be sure to patronize [Company Name] for both one-off and routine aesthetic treatments.

Management Team

[Company Name]is led by [Founder’s Name] who has been a physician for 20 years. While [Founder] has never run a medical spa herself, she has been a medical spa director since age 30 and spent most of her adult life working as a medical director at various spas. As such [Founder] has an in-depth knowledge of the medical spa business, including the operations side (e.g., running day-to-day operations) and the business management side (e.g., staffing, marketing, etc.).

Success Factors

[Company Name] is uniquely qualified to succeed due to the following reasons:

• The Company will fill a specific market niche in the growing community we are entering. In addition, we have surveyed the local population and received extremely positive feedback saying that they explicitly want to frequent our business when it is launched.
• Our location is in a high-volume area with easy access from multiple residential and commercial district zones.
• The management team has a track record of success in the medical spa business.
• Medical spas are a proven business and have succeeded in communities throughout the United States.
• Local competitors leave a large gap in the aesthetics market—there are providers offering non-medical services (skin care only or nails only), and an ultra-luxury spa with high-priced medical services, but nothing in between.

Financial Highlights

[Company Name] is currently seeking $700,000 to launch. Specifically, these funds will be used as follows:

• Spa design/build: $50,000
• Medical spa equipment purchases: $150,000
• Working capital: $500,000 to pay for Marketing, salaries, and lease costs until [Company Name] reaches break-even

Topline projections over the next five years are as follows:

II. Company Overview

You can download our Medspa Business Plan Template (including a full, customizable financial model) to your computer here.

Who is [Company Name]?

[Company Name], located in [insert location here] is a new, state-of-the-art medical spa focusing on providing medically-supervised aesthetics treatments and services in a professional environment. It will showcase a well-designed interior as well as private recovery areas with refreshments. [The Company] also sells a variety of medical-grade skin care products which will be on display in the waiting room.

[Company Name] was founded by [Founder’s Name]. While [Founder’s Name] has been in the medical spa business for some time, it was in [month, year] that she decided to launch [Company Name]. Specifically, during this time, [Founder] took a trip to Fort Lauderdale, FL. During her trip, [Founder’s Name] visited a medical spa that enjoyed tremendous success. After discussing the business at length with the owner of the spa, [Founder’s Name] clearly understood that a similar business would enjoy significant success in her hometown.

Specifically, the customer demographics and competitive situations in the Fort Lauderdale location and in her hometown were so similar that she knew it would work. After surveying the local population, [Founder’s name] went ahead and founded [company name].

[Company Name]’s History

Upon returning from Fort Lauderdale, surveying the local customer base, and finding a potential facility location, [Founder’s Name] incorporated [Company Name] as an S-Corporation on [date of incorporation].

The business is currently being run out of [Founder’s Name] medical office, but once the lease on [Company Name]’s commercial location is finalized, all operations will be run from there.

Since incorporation, the Company has achieved the following milestones:

• Found commercial space and signed Letter of Intent to lease it
• Developed the company’s name, logo and website located at [website]
• Hired an interior designer for the decor and furniture layout
• Determined equipment and fixture requirements
• Begun recruiting key employees with previous medical spa experience

[Company Name]’s Products & Services

Below are [Company Name]’s initial service offerings and in-store products sold.

Specialists will be asked to perform the following services for both men and women:

• Injectables (Botox, dermal fillers, etc.)
• Coolsculpting
• Laser Hair Removal
• Skin rejuvenation (laser, microdermabrasion, ultrasound, etc.)
• Microblading and Permanent Makeup
• Vaginal Rejuvenation (Laser and Radio Frequency)

The first appointment will include an initial assessment and recommendation phase where the specialist will discuss the customer’s desired outcome. A treatment plan will then be formulated, and appointments scheduled.

[Company Name] will feature medical grade beauty products in-store from these well-established brands. It will continue to update its offering in order to provide the newest developments in medical grade beauty products to its customers.

Some of its featured brands will include:

• Augustinus Bader
• Dr. Barbara Sturm
• Dr. Dennis Gross
• SkinCeuticals

Furthermore, the waiting area will feature a relaxing, welcoming atmosphere, and popular publications to make the wait for service more pleasurable. At-request refreshments will be provided for free during the waiting period.

[Company Name] will develop a 2,500 square foot facility whose key elements will include the following:

• Treatment Rooms
• Private Recovery Rooms
• Reception Desk
• Product Display area
• Self-service coffee area
• A waiting area with TV screens

[Company Name] plans to be open 6 days a week, from 7AM to 6PM. As demand dictates, we may extend or reduce our hours.

III. Industry Analysis

[Company Name] competes against other medspas, wellness spas, and medical practitioners such as Dermatologists and Plastic Surgeons. There are over 22,000 registered spas in the United States.

According to a report by Packaged Facts, the spa industry is a fragmented one, as the majority of operators are single-location businesses. The market is estimated to grow to nearly $20 billion in three years. Since there are no truly dominant competitors, barriers to entry are not as high as many other industries, and a start-up can expect to have success in this growing market, [Company Name] is well-positioned for success. There is plenty of room in the industry particularly for conveniently located spas that cater to specific geographic and demographic customer niches. Smaller spas can easily develop a loyal clientele that enable them to compete and succeed against industry giants; in this industry, size does not necessarily mean an advantage, which bodes well for [Company Name].

Market Trends

The market in which [Company Name] will compete is experiencing a number of different trends.

Market-level trends:

• Strong growth. This market is expected to grow consistently at around 14.3% annually.
• Success drivers. Customer satisfaction is what ultimately makes one med spa triumph while another fails. The experience a med spa’s client has will ultimately determine whether or not they return and whether or not they refer others to the same spa.

Firm-level trends:

• Economies of scale. Larger medspas are finding opportunities to succeed, by making effective use of support personnel. Receptionists and assistants at larger establishments can take care of many of the menial tasks that skilled therapists and aestheticians are responsible for handling in small spas. This permits specialist staff to spend a higher proportion of their time actually performing skilled services.
• Premium independent spas. Independent spas also compete with medspas, offering some of the same treatments which do not require medical application or supervision. These spas develop a loyal customer base and select their location on the basis of population demographics.
• Specialty spas. Presently, a niche is being carved out for spas that cater to very specific customer segments, such as those that desire body contouring treatments and dermatologist brands.

Customer-level trends:

• Intense customer loyalty. Many medspas develop repeat customers who become a regular client base and represent a significant portion of their revenues. Medspas whose employees are able to develop strong relationships with customers can expect to see more long-term success.
• Changing gender patterns. Traditionally, women bring in the lion’s share of revenues for medical spas, using anti-aging and wellness services more often and spending more at each appointment. In recent years, however, the male consumer’s attitude has begun to shift. Men now make up approximately 25% of spa clientele.
• Gender preferences. Women are the most lucrative customers for medical spas, visiting more often and purchasing more special treatments.

IV. Customer Analysis

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Demographic Profile of Target Market

[Company Name] will serve the residents of [company location] and the immediately surrounding areas as well as those who work in [company location].

The area we serve is populated mostly by middle class Millennials; as a result, they have the means to pay for higher quality service, and are looking for medical spa services somewhere between traditional spa treatments and surgical treatments.

The precise demographics of the town in which our retail location resides is as follows:

Customer Segmentation

The Company will primarily target the following three customer segments:

• Middle aged women: The town has a significant population of middle aged women, many of whom are empty nesters. These women seek anti-aging services on a regular basis. These women are well connected to each other and as such are a prime source of referral business. [Company name] expects to regularly acquire new customers from referrals.
• Professionals: [Company name] is located along a well-traveled commute route. By offering convenient location and exceptional service to the customer, [Company name] will draw in working men and women who who want services over their lunch break or at the end of the work day.
• Moms: The town has a sizeable population of families with younger children. As these moms finish having children, they will seek treatment for body changes associated with childbirth. In addition, this demographic has become increasingly proactive in staving off the first signs of aging. [Company name]’s range of services include a variety of options to address these concerns.

V.Competitive Analysis

Direct & indirect competitors.

The following spas are located within a 20 mile radius of [Company Name], thus providing either direct or indirect competition for customers:

The Fountain

The Fountain is a boutique med spa that artfully blends a relaxing experience with the care, expertise, and results of a physician’s office. It employs a hand-picked staff – all of whom have worked in some type of medical practice and have years of spa experience and training. It offers a range of services, including facials, injectables, laser treatments, and cryotherapy.

While we expect that The Fountain will continue to thrive based on its location and customer relationships, we expect that more and more customers will frequent [Company Name] based on the high-quality and competitively priced services we offer and product selection.

Best Self Spa

Established in 1993, Best Self Spa provides a personalized approach to health optimization, access to a range of treatments, and the latest technology. The company provides its guests with aesthetics and wellness services such as injectables, dermal fillers, skin resurfacing, IV therapy, halotherapy, and medical weight loss.

[Company Name] has several advantages over Best Self Spa, in that it offers a broader range of medical spa treatments. [Company Name] will provide these high demand services at an affordable price point.

Radiance Med Spa

Established in 2015, Radiance Med Spa was created to help reverse aging skin, sun damage, and other skin conditions that tend to make people feel uncomfortable in their own skin. The team takes the time to listen to its guests’ skincare needs and concerns, and provides individualized attention, skin-care education, and customized state-of-the-art services in a comfortable, safe and confidential environment. The goal is to enhance each guest’s natural beauty with lasting results while maintaining the highest safety standards in the industry. Its services include acne treatment, body contouring, laser hair removal, vein treatments, tattoo removal, and microblading.

Radiance Med Spa offers some services which are unique to the area, and thus we expect it will continue to draw a large clientele. However, because many of its services are geared to a wealthier clientele, we expect to draw aspirational clients who cannot necessarily afford these price points.

Competitive Advantage

[Company Name] enjoys several advantages over its competitors. These advantages include:

• Location: [Company Name]’s location is near the center of town, giving us access to commuters going to and leaving the train station, local office workers, and passersby shopping in the city. We also offer adequate parking making it easy for customers to patronize us.
• Great service at an affordable price: The complete array of medspa services offered by [Company Name] goes beyond the skin-focused services of its most premium positioned competitor, Radiance Med Spa. [Company Name] will offer these services at a much more affordable price.
• Management: Our management team has years of business and marketing experience that allows us to market to and serve customers in a much more sophisticated manner than our competitors.
• Relationships: Having lived in the community for 25 years, [Founder’s Name] knows all of the local leaders, newspapers and other influencers. As such, it will be relatively easy for [Company Name] to build brand awareness and an initial customer base.

VI.Marketing Plan

[Company name] seeks to position itself as a respectable, upper-middle-market competitor in the medspa market. Customers can expect to receive care from licensed medical professionals and medically supervised professionals for a price somewhere between discount chains and luxury establishments.

The [Company Name] Brand

The [Company Name] brand will focus on the Company’s unique value proposition:

• Convenient location
• Highly trained specialists
• Significant personal attention
• Moderate price point
• Comfortable, customer-focused environment

Promotions Strategy

[Company Name] expects its target market to be individuals working and/or living within a 10-mile radius of its location. [The Company’s] promotions strategy to reach these individuals includes:

Local Publications

[Company name] will announce its opening several weeks in advance through publicity pieces in multiple local newspapers and publications. Regular advertisements will run to maintain exposure to relevant markets. Community newspapers, school publications, youth sports programs, and similar channels will be a major promotion effort.

Major Publications

We will make careful use of advertising in selected larger publications. [Publication or newspaper name] has a circulation of xyz and we can expect to reach a wider geographic region of customers on a limited basis. Advertisements with major publications will be used selectively, based on cost effectiveness. These ads will include discount coupons so that response to the ads can be tracked.

Community Events/Organizations

[Company name] will promote itself by distributing marketing materials and participating in local community events, such as school fairs, local festivals, or homeowner associations. Since mothers are often heavily involved in such things, we will not only reach the lucrative audience of adult women but also potentially their families by extension.

Commute Advertising

We will drive attention toward [Company name] by leasing a billboard alongside [route or highway]. Advertising on heavily traveled commute routes is an opportunity to alert large numbers of working individuals with disposable income of our opening.

Customer Loyalty Programs

[Company name] will create a winning customer loyalty program to keep its best clients coming back again and again. When not actively providing services to customers in the store, our professionals and other employees will make periodic, regular phone calls to customers. These phone calls will (a) ensure that customers are satisfied with their treatments, and (b) remind customers after a certain period of time has passed that they might want a new treatment. Long-term customers will have the opportunity to participate in the loyalty program, and referrals will be rewarded as well.

Direct Mail

[Company Name] will blanket neighborhoods surrounding its locations with direct mail pieces. These pieces will provide general information on [Company Name], offer discounts and/or provide other inducements for people to visit the spa.

Ongoing Customer Communications

[Company Name] will maintain a website and publish a monthly email newsletter to tell customers about new events, products and more.

Pre-Opening Events

Before opening the spa, [Company Name] will organize pre-opening events designed for prospective customers, local merchants and press contacts. These events will create buzz and awareness for [Company Name] in the area.

Pricing Strategy

[Company Name]’s pricing will be moderate so customers feel they receive great value when patronizing the spa. The anticipated average price point for a Botox treatment is $500 per area, in exchange for which a customer can expect to receive personalized attention during and after their visit. The customer can expect to receive quality care, for a more affordable price than what they pay at an ultra-premium salon or spa.

VII.Operations Plan

Functional roles.

[Company name] will carry out its day-to-day operations on an appointment basis. Because the services offered are primarily performed by medical professionals, walk-in clients cannot be accommodated. However, skin care products may be purchased on a walk-in basis.

In order to execute on [Company Name]’s business model, the Company needs to perform several functions. The majority of employees will assist in up selling customers in addition to the primary functions as treatment technicians. [Company name] anticipates using the services of X employees, divided into the following roles.

Service Functions

• Laser treatments
• Injections / IV
• Medical aesthetic treatments
• Hair removal
• Body shaping services

Administrative Functions

• General & administrative functions including legal, marketing, bookkeeping, etc.
• Sourcing and storing products
• Hiring and training staff
• Appointment making
• Customer service/cash register functions
• Treatment room preparation/cleaning

Miscellaneous

• Maintenance personnel

The following are a series of steps that lead to our vision of long-term success. [Company Name] expects to achieve the following milestones in the following [xyz] months:

VIII. Management Team

Management team members.

[Company Name]is led by [Founder’s Name] who has been a physician for 20 years.

While [Founder] has never run a day spa herself, she has been a medical spa director since age 30 and spent most of her adult life working as a medical director at various spas. She began her career after she earned her MD from [University] and completed her residency in Dermatology at [institution] in [19xx]. She was in private practice as a Dermatologist for X years before becoming a medical director.

[Other person’s name] will serve as the customer service manager. [He/she] has extensive experience the hospitality industry.

[Founder] will serve as the office manager. In order to launch our medspa, we need to hire the following personnel:

• Medical Aestheticians (3 to start)
• Nurses (2 to start)
• Assistants (1 to start)
• Receptionist (2 to start)

As dictated by demand and operational maturity, [Founder] will consider hiring the following personnel:

• Receptionists [Number]
• Assistant Office Manager

IX. Financial Plan

Revenue and cost drivers.

[Company Name]’s revenues will come primarily from the services rendered and secondarily from the sale of beauty care products.

As with most services, labor expenses are the key cost drivers for medspas. Specialists are salaried. Medspa treatments typically require the provider to have medical training; therefore, attractive compensation packages are necessary to maintain a qualified staff.

The major cost drivers for the company’s operation will consist of:

• Treatment products and equipment

Moreover, ongoing marketing expenditures and cost of goods sold expenses are also notable cost drivers for [Company Name].

Capital Requirements and Use of Funds

[Company Name] is seeking total funding of $700,000 of debt capital to launch its facility. The capital will be used for funding capital expenditures and location build-out, hiring initial employees, marketing expenses and working capital.

Specifically, these funds will be used as follows:

• Working capital: $500,000 to pay for marketing, salaries, and lease costs until [Company Name] is cash-flow positive

Key Assumptions & Forecasts

The following table reflects the key revenue and cost assumptions made in the financial model.

5 Year Annual Income Statement

5 Year Annual Balance Sheet

5 Year Annual Cash Flow Statement

Comments are closed.

• Sample Business Plans
• Beauty Salon & Fitness

Medical Spa Business Plan

Did you always want to start your medical spa, where patients can rejuvenate, unwind, and receive all-encompassing care that is specifically catered to their needs? If yes, then you will need to bring that idea to life.

Are you looking to start writing a business plan for your medical spa business? Creating a business plan is essential to starting, growing, and securing funding for your business. We have prepared a medical spa business plan template for you to help in start writing yours.

Free Business Plan Template

Download our free business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

• Fill in the blanks – Outline
• Financial Tables

How to Write a Medical Spa Business Plan?

Writing a business plan for a medical spa is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section of the business plan intended to provide an overview of the whole business plan. Generally, it is written after the entire business plan is ready. Here are some components to add to your summary:

• Start with a brief introduction: Start your executive summary by introducing your idea behind starting a medical spa business and explaining what it does. Give a brief overview of the idea that how will your medical spa will be different.
• Market opportunity: Describe the target market in brief, and explain the demographics, geographic location, and psychographic attributes of your customer. Explain how your medical spa business meets its needs. Clearly describe the market that your spa will serve.
• Mention your services: Describe in detail the medical aesthetic treatments and conventional spa services that a client can expect at your spa. Also, incorporate all the details about the tools and equipment you will use keeping customers’ safety in your mind.
• Management team: Name all the key members of your management team with their duties, responsibilities, and qualifications.
• Financial highlights: Provide a summary of your financial projections for the company’s initial years of operation. Include any capital or investment requirements, startup costs, projected revenues, and profits.
• Call to action: After giving a brief about your business plan, end your summary with a call to action, for example; inviting potential investors or readers to the next meeting if they are interested in your business.

Ensure you keep your executive summary concise and clear, use simple language, and avoid jargon.

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2. Business Overview

Depending on what details of your business are important, you’ll need different elements in your business overview. Still, there are some foundational elements like business name, legal structure, location, history, and mission statement that every business overview should include:

• The name of the medical spa and your medical spa will be based on the concept: a medical spa with traditional spa services, a spa with a plastic surgeon, or a medical spa providing services under the supervision of a doctor.
• Company structure of your spa business whether it is LLC, partnership firm, or some other.
• Location of your medical spa and the reason why you selected that place.
• Ownership: Describe the owners of your spa and mention their roles in running it. Whose shares in the corporation are they, and how each owner helps in the business?
• Future goals: It’s crucial to convey your aspirations and your vision. Include the vision of where you see your medical spa in the near future and if you have any plans of opening a new franchise of your business in the same city in the future.

This section should provide an in-depth understanding of your medical spa business. Also, the business overview section should be engaging and precise.

3. Market Analysis

Market analysis provides a clear understanding of the market in which your medical spa business will run along with target market, competitors, and growth opportunities. Your market analysis should contain the following essential components:

• Target market: Identify your target market and define your ideal customer. Know more about your customers and which services they prefer: fat reduction, laser hair removal, some spa treatment, or anything else.
• Market trends: Analyze current and emerging trends in your industry, such as changes in technology or customer preference. Explain how your medical spa will cope with all the trends.
• Regulatory environment: Describe any regulations or licensing requirements that affect the medical spa, such as safety codes, or requirements of a full-time doctor or physician depending on your services should be mentioned here.

Some additional tips for writing the market analysis section of your business plan:

• Use a variety of sources to gather data, including industry reports, market research studies, and surveys.
• Be specific and provide detailed information wherever possible.
• Include charts and graphs to help illustrate your key points.
• Keep your target audience in mind while writing the business plan

4. Products And Services

The product and services section should describe the specific services and products that will be offered to customers. To write this section should include the following:

• Create a list of the services that your medical spa will offer, which may include traditional spa services such as facials and massages, as well as medical services such as laser hair removal and injectables.
• Describe each service: For each service, provide a detailed description of what it entails, the time required, and the qualifications of the professionals who will provide the service. For example, a plastic surgeon will provide botox services.
• Emphasize safety and quality: In all descriptions of services and products, emphasize the importance of safety and quality. Explain how your medical spa will ensure that all services and products are delivered with the highest standards of safety and efficacy.

Overall, the product and services section of a business plan should be detailed, informative, and customer-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key points to include in your marketing plan:

• Develop your unique selling proposition (USP): Clearly define your medical spa’s unique selling proposition, such as your services, treatments, or products. Determine what sets your spa apart from the competition and what benefits you offer your target market.
• Determine your pricing strategy: Develop a pricing strategy that is competitive and affordable, yet profitable. Consider offering promotions, discounts, or packages for your medical spa services to attract new customers.
• Marketing strategies: Develop a marketing strategy that includes a mix of online and offline marketing tactics. Consider social media, email marketing, content marketing, brochures, print marketing, and events.
• Sales strategies: Mention your sales strategy as in – partner with other businesses and healthcare providers to establish referral programs that can help you generate more business. Consider offering incentives for referrals or special discounts for partnerships.
• Customer retention: Describe how your spa will retain customers and build loyalty, such as through loyalty programs, special events, or personalized service.

Overall, the sales and marketing strategies section of your business plan should outline your plans to attract and retain customers and generate revenue. Be specific, realistic, and data-driven in your approach, and be prepared to adjust your strategies based on feedback and results.

6. Operations Plan

When writing the operations plan section, it’s important to consider the various aspects of your business operations. Here are the components to include in an operations plan:

• Hiring plan: Tell the staffing requirements of your medical spa, including the number of employees needed, their qualifications, and the duties they will perform. Also mention the perks you will provide to your employees.
• Operational process: Outline the processes and procedures that you will use to run your medical spa. It includes the scheduling of appointments, the check-in and check-out process, and the management of medical records.
• Technologies: Describe the systems and technologies that will be used in your spa, types of needles, massage machines, laser machines, and everything else. Explain how these systems will be integrated and how they will improve the efficiency and accuracy of the business’s operations.

By including these key elements in your operations plan section, you can create a comprehensive plan that outlines how you will run your medical spa business.

7. Management Team

The management team section provides an overview of the individuals responsible for running the medical spa. This section should provide a detailed description of the experience and qualifications of each manager, as well as their responsibilities and roles.

• Key managers: Describe the key members of your management team, their roles, and their responsibilities. It should include the owners, senior management, and any other physician, doctors, and people who will be involved in the operation of the medical spa, including their education, professional background, and any relevant experience in the medical spa industry.
• Organizational structure: Describe the organizational structure of the management team, including reporting lines and how decisions will be made.
• Compensation plan: Describe your compensation plan for the management team and staff, including salaries, bonuses, and other benefits.
• Board of advisors: If you have a board of advisors for your business, then mention them along with their roles and experience.

Describe the key personnel of your company and highlight why your business has the fittest team.

8. Financial Plan

When writing the financial plan section of a business plan, it’s important to provide a comprehensive overview of your financial projections for the first few years of your business.

• Profit & loss statement: Create a projected profit & loss statement that describes the expected revenue, cost of products sold, and operational costs. Your spa’s anticipated net profit or loss should be computed and included.
• Cash flow statement: Estimate your cash inflows and outflows for the first few years of operation. It should include cash receipts from clients, payments to vendors, loan payments, and any other cash inflows and outflows.
• Balance sheet: Prepare a projected balance sheet, which shows the spa’s assets, liabilities, and equity.
• Break-even point: Determine the point at which your medical spa will break even, or generate enough revenue to cover its operating costs. This will help you understand how much revenue you need to generate to make a profit.
• Financing needs: Estimate how much financing you will need to start and operate your medical spa business. It should include both short-term and long-term financing needs, such as loans or investment capital.

Remember to be realistic with your financial projections, and to provide supporting evidence for all of your estimates.

9. Appendix

When writing the appendix section, you should include any additional information that supports the main content of your plan. This may include financial statements, market research data, legal documents, and other relevant information.

• Include a table of contents for the appendix section to make it easy for readers to find specific information.
• Include financial statements such as income statements, balance sheets, and cash flow statements. These should be up-to-date and show your financial projections for at least the first three years of your business.
• Provide market research data, such as statistics on the size of the medical spa industry, consumer demographics, and trends in the industry.
• Include any legal documents such as permits, licenses, and contracts.
• Provide any additional documentation related to your business plans, such as marketing materials, product brochures, and operational procedures.
• Use clear headings and labels for each section of the appendix so that readers can easily find the information they need.

Remember, the appendix section of your medical spa business should only include relevant and important information that supports the main content of your plan.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

This medical spa business plan sample will provide an idea for writing a successful medical spa plan, including all the essential components of your business.

After this, if you are still confused about how to write an investment-ready spa business plan to impress your audience, then download our medical spa business plan pdf .

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Frequently asked questions, why do you need a medical spa business plan.

A business plan is an essential tool for anyone looking to start or run a successful medical spa. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your medical spa.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your medical spa.

How to get funding for your medical spa business?

There are several ways to get funding for your medical spa business, but one of the most efficient and speedy funding options is self-funding. Other options for funding are:

Small Business Administration (SBA) loan

Crowdfunding, angel investors, venture capital.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your medical spa business?

There are many business plan writers available, but no one knows your business and idea better than you, so we recommend you write your medical spa business plan and outline your vision as you have in your mind.

What is the easiest way to write your medical spa business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any medical spa business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Creating a Med Spa Business Plan: Steps to Get Started

Table of contents

If your goal is to open a med spa, you probably have a lot of questions that need answers, like: How much will it cost? Do I need to find a medical director ? Who is my target customer and how do I find clients?

A great way to start answering these questions is by putting pen to paper. Drafting a medical spa business plan is the perfect place to begin getting organized and answering key questions.

With a medical spa business plan, you can apply for financing , lock in fruitful partnerships , and better identify your path to success. 

Start thinking about your med spa business plan with step-by-step guidance. Let’s talk about fundamentals.

Essential elements of your med spa business plan

1. identify the opportunity.

The first step to starting your own business is identifying an existing problem and how you’ll solve it. Opening a med spa helps to meet the increasing demand for aesthetic procedures, but getting into specifics helps to zero-in on your unique approach and opportunity.

Here are some questions to ask yourself before getting started:

• What are the gaps in the local market? Identify your advantages and position your medspa in a way that separates you from others in the area.
• Who is my ideal customer? Consider who your ideal client is so that you can tailor your marketing to them directly.
• What are my customer’s pain points? Consider the potential pain points of your customer—like seeking high-quality service with a reliable provider—and how you can best address them (hint: read your competitor’s online reviews to see how they are missing the mark and how they are winning).
• What sets my business apart? Do you want to focus on providing high-quality treatment? Great prices? Better, holistic 1:1 service? Maybe choosing one treatment niche you can “own”? 
• What services would I like to focus on? Do you envision yourself operating a botox spa, or are you more interested in working with lasers? Follow your passion, but do some market research to determine which services are most popular, and what is or isn’t being offered locally.

2. Marketing 

Marketing is essential to a successful business of any kind, and when opening a med spa, it’s a non-negotiable.

Firstly, you’ll want to suss out your competition—who they are, where they are, and what they offer. By understanding your competition, you can effectively position yourself in opposition to them and attract customers by differentiating your services. Identify their weaknesses and make them your strengths!

Once you’ve determined your market positioning, it’s time to consider how you’ll market your med spa. 

Essential med spa marketing activities :

• Build a website : A website is the first step to establishing your online presence. It’s your 24/7 storefront. It should look professional, tell a story, and make booking easy.
• Set up social media profiles : Expand your online reach and the amount of clients you can connect with by setting up profiles on social media . Check out our full guide for more tips and tricks to build your med spa’s social media presence .
• Consider your content : Your social media profiles should feature a selection of carefully curated content that corresponds to your customers’ needs but also comes across as authentic. Be sure to include before and after photos, patient testimonials, and lifestyle content. Here are best before and after photo tips for growing your visual content!
• Plan a grand opening event : This event will help to establish your business within your community, lets you network with other business owners and potential clients, and generally raises awareness of you and your services. Check out our full article for all the information you need to plan your med spa launch party .
• Offer a membership program : Encourage loyalty to your med spa and build a rapport with your clientele by offering a membership program . Other practices have seen their average patient visits nearly double by employing this method!

Check out Moxie’s guide full of helpful tips and tricks to make your med spa’s first year (and beyond) a success!

3. Financial planning

While you may not have a spare $50K sitting around to fund your startup costs, keep in mind that med spa financing is available in the form of med spa loans as well as other options. 

Still, it’s important to determine what your costs will be, how much funding you’ll need, and how to prioritize your spending.

Questions to ask yourself:

• Where am I planning on opening a med spa? The first thing you’ll need to think about is finding a space. The cost of your med spa location will depend largely on real estate rates in your area. Start small with a clean, comfortable space where you can greet and treat your clients.
• What med spa services will I offer? Your service offerings will determine with equipment and supplies that you’ll need to acquire before opening your doors to the public, and will be a determining factor in your final budget. 
• What med spa equipment will I need? On average, you can expect your equipment to cost $30 per square foot , and potentially higher if you plan on offering luxury services. We recommend starting with the basics, then adding to your arsenal once you’ve got some cash flow!
• Do you want to buy or lease med spa equipment? With a strong resale market, buying med spa equipment can be a solid option, especially if you manage to secure funding. However, leasing also has its advantages—namely, keeping overhead down while giving you the freedom to trial different equipment.

4. Tools and equipment

Your tools and equipment will determine the quality of service you’re able to offer, so don’t skimp. 

Here are some of the tools and equipment to factor into your budget:

• Electronic medical records (EMRs) : Using an electronic system can help you to keep track of your patients, make sure they’re scheduled for follow-up appointments, as well as track patient data. Some EMRs also include built-in point of sale components that can process payments and automate your marketing efforts, making them well worth the investment.
• Light and laser-based systems : These systems are used for laser hair removal and skin rejuvenation, which remain some of the most popular med spa procedures . You can find this equipment secondhand, saving you 50% to 70% of the retail cost . 
• Injectable supplies : Neuromodulators are all the rage these days, with clients regularly seeking out these procedures to reduce the appearance of fine lines, wrinkles, and other signs of aging. The US Botox market size was valued at $5.91 billion in 2021 and rose to $6.27 billion this year—and is projected to grow to $8.59 billion in 2029 .  Compared to other med spa procedures like lasers, injectables require a much smaller investment up-front, delivering high ROI for your burgeoning business.
• Med spa furniture : When furnishing your first office, your priority should be comfort and practicality. We recommend a clean, minimalist aesthetic that prioritizes your clients' needs. Review our checklist for a full run-down of med spa furnishings and supplies. 

5. Measuring success (milestones and metrics)

The key to a successful startup lies in minimizing initial costs and maximizing revenue from the outset. Marketing, particularly digital marketing, is crucial for lead generation and revenue creation. Metrics like cost per conversion in digital marketing are vital for understanding the effectiveness of your marketing activities. 

Metrics to measure your med spa’s success:

• Revenue : Maintaining sufficient cash on hand is crucial for the first year, ensuring the business thrives until it reaches the break-even point. Whereas most businesses aim to be profitable after 5 years, it’s possible to achieve break-even within 9 months to 1 year and profitability by year 2 through careful attention to overhead expenses and minimizing startup costs.
• Return on investment (ROI) : Your ROI indicates the return you are seeing for your investment in marketing efforts. Calculate your ROI by dividing your net profit by your 
• total investment—for example, if you spend $100 on a marketing campaign that generates $500 in profit, your ROI would be 5. 
• Average monthly leads: Having an idea of how many leads you acquire in an average month will help you to identify abnormalities and marketing successes. Leads—whether from digital ads, social media, or word of mouth—should increase month over month. Find a tool to track leads via Meta, Hubspot, GoHighLevel, or your preferred CRM.
• Return on ad spend (ROAS): This calculation determines the effectiveness of your ads, an important metric for any small business. To do this, simply divide any ad campaign-generated revenue by the amount you invested in them.
• Net profit margin: Net profit margin = (net income / total revenue) x 100.                       In order for your business to be profitable, your expenses need to be lower than your revenue. You can increase this margin by offering more services, selling products, or lowering your overhead costs.
• Customer satisfaction: What do your Google, Yelp, or social media reviews say? It’s important to build up positive reviews. They will help you grow organically and legitimize your business (and even SEO web rankings).

Building your own medical spa business plan

Take it one step at a time and plan out what your successful medspa will look like with a thoughtful, well-researched med spa business plan. 

Remember, you’re writing a business plan, not a memoir! Keep it concise and to the point, and before you know it, you’ll be one step closer to confidently opening a med spa.

‍ ‍ Reach out to the team at Moxie today to learn more about opening a medical spa.

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Sample business plan for med spa startup-what you need to know.

Executive Summary

Opportunity.

There is an insatiable growing demand for aesthetic procedures with projected global growth of 12.2%. Almost half of all global aesthetic procedures are performed in the United States.  This creates tremendous opportunity to meet the growing demand of these procedures.  In addition, there is significant variation in who can deliver these procedures and malpractice cases have increased especially for non medical professionals performing these treatments.  As consumers become more informed and state regulatory agencies become stricter, this will create a further opportunity for highly trained individuals such as physicians to transition and dominate this space.

Our solution is to provide a hybrid environment in combining the best elements of a traditional clinical space and a more tranquil day spa.  In addition, by utilizing highly trained physicians, we are able to leverage our skill to provide comprehensive aesthetic care with demonstrable results while adhering to the strictest standards.  This will also reduce the variation in care received by prospective client.  This is one of the reason why most med spa franchises were not successful. Finally, with our cadre of seasoned advisors in various different industries from legal to marketing, we are poised to dominate the local competition.

Our solution includes the appreciation of newer trends which are gaining popularity.  In addition to tradition service offerings of neuromodulators, dermal fillers, and laser based procedures we will also be focusing on PRP for rejuvenation and hair growth as well as the body contouring marketing.  Newer advances in the aesthetic industry will continue to drive this demand and we will be able to capitalize on it.

Majority of aesthetic procedures have been performed on Causcasian women between the age of 40 to 54.  Over 17 million noninvasive and minimally invasive procedures were performed in 2016 with 90% being performed on women.  While this represents a continued targeting opportunity, younger women age 30 and up are increasing their utilization of these procedures. In addition, men and ethnic groups are more frequently  getting this procedures and this creates an opportunity for additional marketing. 

Competition

Aesthetic procedures were once the domain of dermatologist as well as plastic surgeons.  However the popularity and demand for these procedures have lead to non core physicians offering these services as well as non medical professionals.  In addition, regulations regarding these procedures vary from state to state.  Finally, frustration with traditional medicine has led to. more physicians entering this space.  Despite rising competition, our focus is on a model involving the use of highly trained physicians as well as focusing on marketing.  Up to 80% of medical spas go out of business secondary to lack of highly skilled professional, inadequate resources, and lack of aggressive marketing to dominate this area. By utilizing a team of advisors including other successful med spa owners, legal experts, and dominant marketing companies, we definitely have a leg up on the competition.

Our team is comprised of highly trained physicians, lawyers, financial and marketing experts to guide us to successful deployment and growth of our business model.  By focusing on the needs of our potential clients, both in terms of offering the latest and most popular aesthetic services, as well as paying attending to customer service, we will dominate the local competition.  Our goal is to cultivate lifelong relationships with our client by educating them and offering solutions that match their needs.  It is very easy to prey on individual insecurities in terms of aesthetic procedures, but by establishing ourselves as a trusted source we will build a practice with expertise, honesty, and integrity .

Expectations

Our goal is to be net cash flow positive by month 9 and profitable by the second year.  we expect to grow.  Our net profit will be 14% of our revenues the second year and 25% by the third year.  By focusing on revenue generation procedures, we expect the greatest growth to be in the first three years followed by steady growth in revenues at 10 to 15% per year thereafter.  By leveraging the expertise of our advisors, we will be profitable at the end of year 2 instead of the traditional year 4 to 5.

Financial Highlights by Year

Financing Needed

The business will be funded by personal funding sources as well as SBA business loans.  In addition, business credit cards as well as a line of credit may be utilized for startup costs, capital expenditure and maintains operating costs.

Problem & Solution

Problem worth solving.

As the aesthetics industry continues to grow and fuel the increasing demand for minimally invasive and non invasive procedures, this creates an opportunity to capitalize on the demand.  Given the multiple problems that affect the health care industry, more physicians are turning to alternative forms of income to supplement or replace their traditional practice.  Given the significant variations and regulations affecting the aesthetic industry, many non medical and unskilled professionals are entering this space.  The goal is to utilize the advanced medical education and training and leverage it in the aesthetic and wellness industry. 

Another problem is the lack of accountability when it comes to aesthetic procedures in comparison to other medically necessary procedures.  Given the relative infancy of the aesthetic industry, variations in practice and proper techniques often times result in injury to patients.  The number of lawsuit especially against non medical professional is on the rise as a result improper technique and lack of medical training.

The focus of most aesthetic practices also has been primarily with improvement in aspects of appearance.  While it can have a profound affect, it does not necessarily address the client from a holistic perspective. The trend in aesthetic medicine is to incorporate some component of wellness as well to ensure that the client not only looks good but feels good.  It is this incomplete treatment of the person, which creates an additional opportunity

Our solution

Awesome Medspa and Wellness center will capitalize on this demand and leverage the medical training and skillset to offer clients professional and exceptional care while maintaining the highest standards.  Many of the practitioners of aesthetic medicine don’t have a medical degree and some providers don’t event have a medical background.  At awesome medical spa, the procedures will primarily be performed by physicians and other medical professionals under the supervision of these physicians to ensure the highest adherence to standards.  Our goal is to ensure that our clients get access to the latest aesthetic products and services in an environment built on ethical standards and an attention to the performance that will ensure safety as well as deliver results.

Target Market

The global aesthetic industry is slated to grow at a CAGR of 12.2% over the next year and is an industry worth nearly 20 billion dollars.  The United States represents half of the value of the overall global aesthetic industry.  Consumer demand has created an insatiable appetite in this space.  To fully appreciate the tremendous growth in this space as well as future opportunities it is important to understand the present market conditions for aesthetic procedures in the United States.

The focus of the aesthetic medicine and wellness industry is on non invasive and minimally invasive procedures such as botulinum toxin ( Botox) , dermal fillers, laser based services including hair removal and skin rejuvenation, as well as chemical peels and microdermabrasion.  Recent trends such as platelet rich plasma, body contouring, bio identical hormones and sexual health are increasing in interest and utilization.

According to the ASPS, in 2017, there were 17,504,950 of these types of procedures.  This number is 10 times the surgical procedures that were performed.  There was also a growth of 137% compared to 2000. 

Almost 50% of all cosmetic procedures were performed on women between the age of 40 to 54. This age range was followed by 55 and over with close to 4 million procedures and in third place 30 to 39.  In terms of gender differences, 90% of cosmetic procedures were performed on women with 10 percent being performed on men.  In terms of ethnicity, 70% of procedures were performed on Caucasians followed by Hispanics, African Americans, and Asian Americans.

While Caucasian women between 40 to 54 remain the primary utilizers of cosmetic procedures. there has been a gradual increase every year in men and other ethnic groups utilizing these services.  This creates future opportunities to target men as well as a growing group of Hispanics, African and Asian Americans.

Millenials, or those born after 1982, remain a highly sought after market segment given increased discretionary spending as well as being tremendously influenced by societal factors and the popularity of social media

Current alternatives

Given the demand created by explosive growth in the aesthetic industry, there is no shortage of competitors.  These procedures, once the domain of core physicians of plastic surgeons and dermatologist, are being performed by non core physicians as well as non medical professionals.  These cosmetic procedures are primarily available in three different settings: Physician offices, medical spas, and days spas.  The most commonly performed procedures offered at most medical spas and aesthetic practices include Botox, dermal fillers, laser based treatments, microdermabrasion and chemical peels.  Rising trends in other modalities such as body contouring and platelet rich plasma along with bio identical hormones, weight management and sexual health are finding their way to the service offerings of traditional aesthetic practices. 

Because of concern for consumer safety, increasing regulatory guidelines will place pressure on the aesthetic industry, which may actually benefit medical spas operated by physicians by limiting non medical professionals.

However, a growing sense of frustration amongst physicians are leading them to consider augmenting their existing practice with aesthetic medicine and wellness or completely transitioning into this space.  Most medical spas and cosmetic services are fee for service and typically not covered by insurance .  Therefore this creates a financial incentive for others to enter this space.

There are approximately 4000 medical spas in the United States with approximately

40% being concentrated in the South and the remaining being in the East and West Coast.  While competition in these areas remain high, opportunities in the central portion of the United States may lead to growth due to less competition.

While skin care and at home devices remain competitors of these non invasive and minimally invasive cosmetic procedures, they at present do not represent a significant threat to the aesthetic industry.  Often times they are used in conjunction with these types of procedures.  Certainly as technology and R and D lend itself to better skin care products and at home devices, this may a be a potential threat in the future

The goal of Awesome Medical Spa and Wellness Center is to incorporate both these types of cosmetic procedures as well as wellness medicine which incorporates treatment modalities which. make people feel young.  Our goal is to create a medical practice where we not only make you look good but also make you feel good.

Our advantages

Our biggest advantage is the training and level of service offerings in relation to our competitors. First our medical spa is staffed with a board certified physician who has received the training necessary to delivery aesthetic procedures and wellness medicine in a safe and effective manner.  Unlike other practices run by either non medical professionals and mid level medical professionals such as physician assistants and nurses, our premise is that the facility is owned and operated by a medical doctor who may choose to use PAs and RNs as ancillary support.

Second, given the competitive nature of the aesthetic industry we plan to use technology and products which meet the highest standards to ensure the safety and effectiveness of our services.  At our med spa , we do not cut corners.  Combined with the utilization of the latest and best practices, is our commitment to customer service.  Traditional medicine often times does not pay attention to this component but it is essential in aesthetic medicine. In addition, we have this distinct advantage over our core physician counterparts such as dermatologist and plastic surgeons.  Sometimes wait times in a dermatologist’s office can be several hours because they are combining both general and cosmetic dermatology.  They seem to take advantage of the fact that clients are inherently coming to them for skin concerns and will utilize their cosmetic services.  At our med spa , the client experience is at the forefront.  Exception experience is also based on consistency.  When you walk into a Ritz Carlton anywhere in the world, the level of service is exceptional and consistent.  That is the goal with our medical spa.

Marketing is at the cornerstone of our plan to dominate the local area.  Many aesthetic practices don’t invest adequately into marketing because either they have held a dominant position or they simply don’t understand the increasingly competitive landscape.  Through proper implementation of an aggressive marketing strategy including digital and social media marketing, we aim to dominate our local competition within a short period of time.  Having already executed a similar strategy with our prior medical spas with tremendous success, we plan to replicate this strategy.

Finally, we are fully supported by industry experts and advisors in various different industries related to the aesthetic medicine and wellness practice.  Our advisors encompass everything from marketing support to legal support to training and efficient implementation of our business model.

Marketing & Sales

Marketing plan.

Marketing is an integral part of any aesthetic practice. Many practices that have failed have been secondary to one of three reasons: lack of trained professionals, lack of capital, and finally ineffective marketing. 

Marketing remains a cornerstone of driving prospective consumers to the business.  A robust strategy which incorporates a primarily digital strategy is required to succeed in this increasingly more competitive landscape.  Traditional forms of media such as TV, radio, print and billboards are no longer effective in marketing in many different industries and this certainly holds true for the aesthetic and wellness industry.

Marketing has to include a professionally designed website with on and off site search engine optimization combined with a social media strategy comprised of major players such as Facebook, Instagram, Snapchat, Pinterest, and Twitter.  A third component is paid advertising through Google PPC and Facebook and Instagram Ads.  This multi pronged digital approach will ensure the message reaches the target segment and to ensure revenue generation from day 1.

Equally important to the delivery of the message is the content.  Given the competition in this demanding industry, the message has to resonate with the target population. Our primary mission is to provide safe and effective treatments which are minimally and non invasive.  This translates into lower risk compared with traditional surgical procedures.  In addition, our focus is on leveraging our highly trained medical professionals to perform this treatments which will further differentiate ourselves from non medical professionals as well as medical professionals without adequate training. Finally, our approach to rejuvenation is a holistic one where we combine both aesthetic and wellness medicine to ensure that you look and feel younger.

Customer service is integral to any business.  By implementing surveys, loyalty and referral programs, our goal is to ensure a higher retention by engaging our clients through multiple points of interactions. 

This comprehensive marketing strategy will lead to dominance in a field which has been recently described as the Wild West of medicine, where everyone is trying to do everything to capitalize on the continued growth if this market space.

There are several steps in the sales process.  The most important is a steady stream of leads which have the potential of converting into clients that actually come to the physical location and purchase a product or service.  This part of the sales process is predicate upon developing. profession website as well as lead funnels which are able to distill prospective clients into customers.

Second part of the process is cultivating the leads.  While some of this cultivation is an automated process through the use of digital marketing and sales funnel, an integral component is having staff that is trained in the process of further moving this clients and actually scheduling them for an appointment.  The sales funnel itself is capable of shepherding clients to our online scheduling system.  Given the immediate nature of consumer needs, this is important to capture clients at the moment they entertain the procedure.  The faster you are able to reach your clients the greater the chance of success at true conversion.

Any client that are on the fence will be further engaged into drip campaigns meant to offer greater incentives to become customers. In addition, staff members will reach out to clients either via a video message, text messaging or a phone call.  Most people require at least 6 to 7 points of contact before they decide to become actual customers.  Our software can also be setup to reach out to them in the future if initial attempt are unsuccessful.

Loyalty programs and referral programs are successful in creating loyal customers as well as creating avenues to attract new client.  This can be accomplished through the use of our loyalty app which we have deployed in our other locations with great success.

Special events mean to demonstrate new service offerings as well as products have in the past produced fantastic results by giving potential customers a deeper understanding of the procedure they may be interested in. We couple these special quarterly events with special promotions and incentives and limit it to a select amount of clientele to create a sense of urgency in converting these leads.

Finally, we ask our clients for feedback in forms of online surveys and reviews. This allows us to further fortify our sales process as well as improve any areas which may be lacking.  By demonstrating to our client, their experience is of paramount important, this creates a further trust based relationship where the customer is likely to utilize aesthetic and wellness services for years to come. 

Locations & Facilities

The physical location for Awesome Medical Spa and Wellness Center is malleable depending on the geographic region and availability for a commercial space.  We can easily deploy our practice into a free standing building in a suburban setting, to an office complex either in a suburban or metropolitan setting.  Another option to limit build out cost includes the option of leasing space in an existing medical practice.

Given the focus on cosmetic procedures as well as wellness medicine, it is important to create an atmosphere of beauty and tranquility to differentiate it from the clinical nature of traditional medical practices.  In addition, these procedures are typically fee for service and therefore the physical space as to be commensurate to the concept of beauty and wellness.

While ideally, a free standing building with at least 1500 to 2000 sq feet with adequate parking would be desired,  it is not a requisite for building a successful aesthetic practice.  As long as the environment is tranquil and beautiful, attention to customer service is at the forefront, and the medical professionals are able to deliver demonstrable results, this type of business can function in thrive in various different environments.

Technology is at the heart of the aesthetic industry and wellness medicine.  Several key components are integral to the success of a growing practice.

First a comprehensive EMR or electronic medical system is required to keep track of patient documentation. Several EMR has built in Point of Sale components as well as marketing components.  The POS system integrates with credit card processors and obviates the need for a dedicated credit card terminal, although even if one is required they do not contribute to the cost significantly. One such piece of software is PatientNow.  Most of the available software is based on an initial fee followed by a subscription service. It also functions as a CRM for managing and marketing to the existing clients.  It features an online portal as well as text based communications to facilitate the process for the client

The second integral component includes light and laser based systems for laser hair removal and skin rejuvenation.  While newer technologies are constantly evolving, the basic principles of lasers in cosmetic medicine have stayed the same.  Lasers on the secondary market from reputable deals provide a significant cost savings of 50% to 70% over their newer counterparts and are just as effective.  This can reduce the startup costs and allow a business to increase the profit margin. A third option for laser technology is to rent the lasers on a monthly basis which again can be an option to limit upfront expenditure and rent to buy options can be utilized to acquire the technology over the course of 1 to 2 year

All in one platforms are the direction for startup as it gives you the ability to perform the maximum number of procedures while limiting the initial expenditure.  There are several platforms which fall in this realm.  Two that are commonly utilized are the Cynosure Elite and Candela Gentleman platforms. They combine an alexandrite and a YAG laser which allow you to treat all skin types as well as being able to perform skin rejuvenation procedures.  Addition of IPL or intense pulsed light as well as fractional resurfacing can also increase maximum marketability. An example of such a technology is the Cynosure Elite Platform in combination with the Palomar MAX G IPL and 1540 nm fractional handpick.

Three of the top five procedures include botulinum toxin, dermal fillers, chemical peels and microdermabrasion or Hydrfacial device.  Relative to lasers, the injectables represent a much smaller cost as only a small inventory is required initially and does not contribute to overall significant cost.  Also the shipping logistics of these injectable companies is very efficient and often times you get additional product the next day allowing you to keep a small inventory.  Mircrodermabrasion machine does not generate high revenues but minor procedures are a gateway to higher ROI and revenue generation.

Body contouring at increasing at a fast pace especially the non invasive procedures such as Trusculpting, Exilis, Coolsculpting, Vanquish, and many others.  We have also seen a tremendous increase in direct to consumer advertising in the body contouring space after Allergan acquired Zeltiq, the make of Coolsculpting.  People with mild to moderate areas of localized areas are opting for these non surgical procedures instead of traditional liposuction especially since the technology has improved significantly.  Coolsculpting, especially produces 90 percent satisfaction rating when the right client is selected with minimal to no risk as compared to traditional surgery.

Other technologies and services that represent an increasing trend include platelet rich plasma systems which require a centrifuge and PRP kits which help to separate the plasma component from the blood.  This platelet rich plasma and then injected into the face to stimulate skin rejuvenation or into the scalp to help hair growth especially for androgenic alopecia. One of the hottest trends has been the Vampire Facial, which is a trademarked procedure by Dr Charles Runels.  Essentially it combines micro needling  with platelet rich plasma to help improve the quality of the skin.  This procedure has been made very popular by the likes of Kim Kardashian further testament to the power of social media as an overall marketing strategy.

A photography system such as the Vector 3D for before and after pictures is required.  There are several options.  A reasonable setup can be implemented with a DSLR camera and lightning for under 1000.  Innovative companies such as RxPhoto also allow for utilization of your mobile devices to provide consistent pictures without a large initial investment and are based on subscription type services.

Computers, high speed Internet and a SONOS music system round out the overall technology in the med spa startup .  Depending on the size of the practice 2 to 4 computer terminal may be requires or mobile units such as the Surface Pro or MacBook Air for ease of portability.  A server can be utilized to store all data and images in a secure system and allow for a centralized storage point with cloud based backup.

Equipment & Tools

Other equipment that is required include reception desk, spa furniture, spa tables/beds to provide comfort as opposed to a clinical and cold medical table.  In addition, water features and other embellishment will further enhance the serenity and beauty of the practice. 

Other equipments will include a centrifuge to process the blood into platelet rich plasma.  This is not a large investment and a good centrifuge could be purchased for $2000. 

Future purchases may include a body contouring device such as the BTL Vanquish or Coolsculpting which is a significant expenditure  however PRP and body contouring are body rising trends.  Fat elimination procedures and cellulite treatment have increased over 20% over the last few years.

Additional lasers and equipment may be purchased in the future to address specific cosmetic concerns such as vein treatment, vaginal rejuvenation, mens health and impotence .

However the initial focus should be on the top 5 popular procedures with future focus on additional services which will expand offerings and increase revenues

Milestones & Metrics

Key metrics.

Success is predicate on constraining start up costs and maximizing revenue stream from day 1 . Marketing is a cornerstone of lead generation and revenue stream creation.  Certain metrics such as cost per conversion for digital based marketing are important

to understand. The average cost for lead acquisition depends on the service and local competition.  The goal is to make the digital marketing strategy and reduce the cost per lead acquisition and maximize the procedure with the greatest return on investment such as injectables and laser based services. The focus will be on the top 5 procedures as the popularity and demand will dictate growth. 

Website traffic is one of the components of the digital marketing strategy and typically revenue generation is linked to a professionally designed website that is able to convert the traffic into leads that come to the business location.  The goal is to create valuable content and engage in onsite and offsite search engine optimization to attract potential clients.  By analyzing website traffic and conversion rates it is possible to estimate the ROI for various different marketing strategies.

Cash on hand is an important consideration for the first year of business. This will ensure that the business will thrive during initial period where growth is approaching the break even point. One of the metric we will be using is to arrive at the break even point within 9 months to 1 year and to be profitable by year 2.  By paying close attention to the overhead expenses and minimizing the startup costs, it is possible to reach this period within a short period of time as opposed to the traditional proscribed period of 5 years.

Ownership & Structure

Awesome Medical Spa and Wellness Center LLC is register as a limited liability corporation with 2 founders with equal shares. At this point no outside investors are involved although there might be an opportunity for partnerships in the future with newer aesthetic and wellness treatments in the field of bio identical hormones, hair loss treatments, vein therapy, IV therapy, functional and nutritional medicine.  The premise of this entire industry is a holistic approach to both internal and external well being and appearance.  This will be future opportunities and growth in this segment.

Company history

Awesome Medspa and Wellness will work with trusted advisors and industry exports to start up a business which has demonstrated profitability with proper execution.  Many have tried to franchise the med spa model but have typically failed due to variations in statewide regulation as well as lack of medical supervision and skilled staff.

Our model is predicated on medical doctors using their training as well as skill set to deliver a majority of the cosmetic procedures as well as deploy wellness medicine while maintaining a level of expertise that was previously unrivaled.  In addition, we will oversee a staff of potential nurses, physician assistants and licensed aestheticians.

Our team of advisors have successfully started up multiple aesthetic and wellness practices.  Having this as a resource will allow us to structure a successful business model, while constraining cost and maximizing profitability by leveraging the combined expertise of our advisors.

To date, we have formed strategic alliances with the personnel necessary to start up our business. In addition, the business plan will serve as a roadmap for future success.  At present our goal is to focus on results oriented products and services to take advantage of the burgeoning aesthetic industry.  The focus on rising trends will allow us to maintain superiority in our local market and grow as we incorporate new technology and services.

We have also taken the prerequisite courses in legal issues of aesthetic startup, logistics and business plan, staffing, training, and marketing.  This has allowed us a comprehensive view of th industry and will allow us to execute the business plan.

Management team

The management team is made up of the owners of the business. Our primary expertise lies in our medical training and ability to perform all non invasive and minimally invasive aesthetic and wellness procedures regardless of location.  We hope to hire a spa manager to oversee the daily operations of the spa.  As previously mentioned, we have done the research and taken courses covering a multitude of topics to start up this business.  In addition, our team of advisors have decades of experience in this industry having built a successful model.  Our strategic alliances with vendors, lawyers, financial institutions, and marketing experts have laid a foundation for eventual success was defined by profitability and growth within a short period of time.

Our team of advisors included lawyers specifically familiar with the aesthetic industry including the state regulations.  They will provide a packet of these regulations as well as all the information paperwork and consents necessary to safely start a practice while maintains legal compliance in all 50 states.

Secondly, our access to vendors allow us to take advantage of group pricing and add the proper equipment and supplies necessary to generate revenue from day one.  These vendors include laser, medical suppliers as well as malpractice carries.

Our marketing team deals specifically with the niche of physician practices including aesthetic medicine and wellness.  They have discovered the recipe for marketing success in terms of lead generation through a comprehensive digital strategy.  The entire goal is to drive prospective clients and working with a marketing company that has demonstrate good ROI and profitability for marketing resources will give us a competitive advantage.

Finally, our team of advisors includes other physicians and specialist such as plastic surgeons, dermatologist, and successful owners of the aesthetic industry.  Through cooperation and collaboration, we intend to leverage our experience and expertise into a highly profitable business.

Financial Plan

Key assumptions.

The financial forecast is based on actual values from other aesthetic medicine and wellness practices.  It was provided to us by our team of advisors and business owners who have a similar practice.  Assumptions for growth are based on the CAGR of the aesthetic industry which is forecasted to grow at 12.2% for the next 5 years.  The forecast models therefore are based on past results as well as market research to give an accurate estimation.

Key hires will be support staff including spa manager, medical assistants, nurses, and/or physician assistants.  Initially, it may just be a receptionist and a medical assistant to constrain costs but as the business grows, we will be adding personnel with specialized abilities.

Notable expenses include build out costs which can certainly be eliminated either if the space is already built out or renting a space in an existing practice.  Other significant costs include laser equipment, spa furniture, computer systems, and other miscellaneous expenses.

First year revenues based on prior experience and market research will be help us reach a break even point at month 9 to 10.  We will be cash flow positive at this point and will realize a profit of 14% by year 2.  We will continue growth through addition of services and private label skin care product.

Revenue by Month

Expenses by Month

Net Profit (or Loss) by Year

Use of funds

These funds will be used for build out costs, capital expenditures such a purchase of computers, spa furniture, and equipment as well as covering operating costs, marketing, and personnel.  As the business becomes profitable, this revenue will be used to grow the business by increasing marketing, adding personal, and purchasing new equipment.

Sources of Funds

Source of funding will be comprised of private funds as well as SBA business loan.  The exact amount of personal financing will be 250000 in addition to a business loan in the amount of $250,000.  Additional potential sources of financing include personal credit cards as well as lines of credit

Projected Profit and Loss

                                                                                 2019                          2020                          2021

Projected Balance Sheet

Projected Cash Flow Statement

Profit and Loss Statement (With monthly detail)

Operating Expenses

Salaries and

                                                                                                                     2019                                                              2020                                                              2021

Balance Sheet (With Monthly Detail)

Paid-In Capital

Retained Earnings

Cash Flow Statement (With Monthly Detail)

Investing &

Purchased or                  ($419,000)

Investments Received

Short-Term Debt

Dividends &

Distributions

Net Cash Flow

from Investing             ($419,000) & Financing

Cash at Beginning

All content in this blog is for informational purposes only. It is not medical or legal advice. Please consult with lawyer or a medical professional.

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How to Open a Med Spa

Opening a med spa entails rigorous planning and substantial financial outlays, along with essential professional advice . The first steps include carrying out detailed market research to understand competition, market dynamics, and potential customers in the desired location. Equally important is staying informed about the latest procedures, technology and equipment in the industry.

Med Spa Requirements

Next, a comprehensive business plan is developed, outlining the organization’s objectives, management team, marketing strategies, financial projections, and other key information. Location selection is crucial to the venture’s success, keeping visibility, accessibility, and target demographics in perspective.

Legally running a med spa requires the procurement of necessary permits and licenses , including a building permit, business license, and health department permit. The purchase of high-quality, advanced aesthetic equipment is pivotal to meeting client expectations and delivering superior service. Equally important is the hiring of certified and skilled professionals for performing treatments.

Creating a user-friendly, engaging website will showcase services while attracting potential clients. Developing a well-thought-out marketing strategy using a combination of online and traditional methods helps to drive customer engagement and awareness.

Insurance coverage for the med spa is crucial to manage any potential damages or legal claims. Once the necessary arrangements and preparations are in place, the med spa is ready for its official launch.

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What Are the Legal Requirements to Open a Med Spa?

The process of starting and operating a med spa involves meeting several legal requirements, the specifics of which can largely vary based on local laws and state regulations. At the very least, common legalities necessitate acquiring a business permit or license from the local city or county office.

Given that med spas provide medical treatments, the owner or a trusted partner is required to have a valid medical license . Businesses are also required to procure an Employer Identification Number (EIN) from the IRS for tax purposes.

Ensuring that the med spa complies with health and sanitation standards is demonstrated through a Health Department Permit. When planning for renovations, a building permit from the local council is necessary. Additionally, every professional employed must hold certification and a professional license in their respective specialties.

It’s also mandatory to have professional liability insurance in place to safeguard the business from service-related claims. Med spas must comply with HIPAA regulations to ensure the protection of sensitive patient data.

Given these intricate and varied legal requirements, it’s advisable to obtain local legal assistance to ensure full compliance. Adhering to these legal requirements not only ensures the legitimacy of your operation but also helps avoid unnecessary legal issues and penalties.

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How Much Does It Cost to Start a Med Spa?

Setting up a med spa can sometimes be a costly venture, with expenses fluctuating based on factors like location, spa size, construction or renovation costs, equipment, and staffing . According to the American Med Spa Association, the real estate and renovation fees for a typical med spa range between $100,000 to $200,000. This estimate includes lease and construction or remodeling costs.

Regarding equipment , the cost greatly depends on the services offered and may go from $50,000 to $200,000. Salaries and employee benefits are another significant expense factoring into the initial budget, an estimate for this ranges from $75,000 to $200,000 per year.

In terms of inventory for skincare products, disposables, and other supplies , one can expect to shell out $2000 to $5000 per month. Marketing and advertising costs, determined by your promotional strategy, can likely run between $2000 to $5000 per month. Legal and operational costs like insurance, utilities, and software, can add up to another $25,000 to $50,000 annually.

Lastly, licenses and permits can cost around $1000, keeping in mind that these costs can greatly differ depending on the location. These estimates may vary considerably based on the specific plans, services offered, and geographical location, underscoring the importance of a detailed business plan to calculate the exact cost.

How to Create a Business Plan for a Med Spa

In order to create a business plan for a med spa, extensive research and thorough strategic planning are necessary. The plan should kick off with an Executive Summary, a brief overview where the med-spa’s characteristics and the reasons for its potential success are outlined. A Company Description should follow, offering essential information such as, the services offered, how it addresses marketplace needs, targeted customers, and unique competitive advantages .

The next element is Market Analysis, where the target market is defined, alongside information about competitors, customer preferences, and pricing policies. This is followed by an explanation of the company’s Organization and Management, detailing the business and managerial structure.

The Services section then describes in detail the treatments and therapies the med spa will offer. The Marketing and Sales strategy then needs to be outlined, discussing the methods employed to attract and retain customers.

Financial Projections follow next, with predictions of the expected revenue, operating expenses, and profitability for the next five years. Lastly, the business plan is rounded off by an Appendix, where supporting documents and additional resources are included.

The business plan is invaluable as it has the potential to attract investors, secure financing , and guide strategic decisions as the journey of launching a med spa unfolds.

How Do I Finance My Med Spa Startup?

Starting a med spa business involves intricate planning and significant financial resources. However, there are multiple funding sources available that can make this task less daunting.

For instance, one of the most straightforward and safest methods of funding a med spa is through personal savings. If sufficient funds are not available, business loans can be an alternative option. These loans can be obtained from traditional banks, online lending platforms, or organizations that cater specifically to small businesses.

Another potential funding source is investors such as angel investors or venture capitalists who may be willing to invest in your med spa startup in exchange for equity in the business. Moreover, it’s possible to obtain assistance from friends or family who are willing to contribute.

To offset the high cost of purchasing necessary medical equipment, consider leasing equipment or looking into equipment-specific loans.

It’s crucial to note that each financing source has its own set of advantages and disadvantages. The choice of funding source should depend heavily on your business plan, financial capabilities, and long-term objectives.

How to Choose the Right Med Spa Equipment?

Setting up a med spa requires a significant investment, across several aspects such as rental or construction costs, equipment, staff salaries, and marketing . Your initial investment to equip your med spa depends on the treatments you plan to offer. For example, laser equipment is necessary for hair removal, skin tightening, and treating pigmentation issues.

Body contouring devices are worth considering for non-invasive fat reduction treatments. Skin analysis tools that utilize digital imaging technologies to diagnose skin conditions are also essential. Microdermabrasion machines support skin exfoliation and rejuvenation treatments, while therapy beds and chairs are necessary to ensure customers are comfortable during their sessions.

Besides these, sterilization equipment like autoclaves is vital to maintain cleanliness and sterilize tools and instruments. Your med spa will also require a variety of professional skincare products for various treatments and standard medical supplies like gloves, disinfectants, and disposable needles. Furthermore, administrative tools such as computers, cash registers, and appointment booking software are crucial for day-to-day operations.

As you make these investments, remember to prioritize quality and customer comfort while purchasing equipment. Make sure to factor in the cost of these equipment in your business plan.

Marketing Strategies to Enhance Profitability of Your Med Spa

Promoting your med spa requires a combination of traditional and digital marketing strategies . Having a professionally designed website is essential, highlighting your services, staff, contact information, and offering online booking options. It’s also crucial to be active on social media platforms such as Facebook, Instagram, and LinkedIn to engage with potential clients. Regularly post content related to your treatments, share customer testimonials, and advertise promotions.

Implementing search engine optimization (SEO) techniques can increase your med spa’s online visibility , allowing you to reach a larger audience. Paid online ads can also be used to gain exposure. Using email marketing can keep your clients engaged; sending out regular newsletters and promotions can ensure your customers stay informed about your services.

Creating local partnerships with businesses, hotels, or fitness clubs can aid in promotional efforts as well. These collaborations can allow you to offer special packages, broadening your client base.

Encouraging satisfied clients to leave positive reviews online can help improve your spa’s credibility and attract new clients. Involvement in local community events or sponsoring charitable causes can be a productive way to increase your med spa’s local presence. Tailoring your marketing efforts based on your target audience and regularly adjusting your strategies can maximize your investment returns.

Understanding the Profitability of a Med Spa Business

The profitability of a med spa business depends on various factors such as operational costs, location, services offered, competitive pricing and marketing efforts. According to the American Med Spa Association, the average med spa generates $1 million in annual revenue with a gross margin of 15-20%. However, profits may not be substantial in the first year due to initial investment costs and a smaller client base.

Key profitability factors include:

• High ROI Treatments: Services like laser treatments and injectables often have a high-profit margin.
• Cost Control: Efficient use of resources and minimizing waste can effectively reduce operating cost.
• Skin Care Products: Selling skincare products can significantly boost profits.
• Client Retention: Repeat business is often more valuable than acquiring new clients. Provide outstanding customer service to encourage clients to return.
• Partnerships: Partnering with other businesses can increase visibility and customer volume leading to more profits.

Remember, it’s crucial to constantly monitor financial performance and adapt your business strategies for maximum profitability.

How Do I Choose the Right Staff for My Med Spa?

Ensuring the safety of clients and staff in a med spa not only reflects a commitment to excellence but it is also paramount to the success of the operation. The first step towards maintaining a safe environment involves compliance with health and safety standards at local, state, and federal levels.

Training is essential to a safe environment; staff must be well-versed in sanitation practices, equipment usage, handling emergencies, and risk management. In terms of cleanliness, spas must be regularly and thoroughly cleaned, with particular attention to treatment rooms.

The nature of treatments at med spas means that they are often required to have medical supervision or direction. Good hygiene practices like hand washing, clean towel usage, and equipment sterilization can ward off infections.

It’s imperative to have solid emergency plans ready, including access to first aid supplies and an automatic external defibrillator (AED). Keeping detailed records of all treatments and client interactions not only helps in case of audits but also increases the efficiency of managing client health issues.

By prioritizing safety, med spas can create an atmosphere where clients feel confident about the services they are receiving and where staff feel secure while working.

What are the Potential Challenges of Running a Med Spa?

Starting and running a med spa is a complex process and comes with several challenges:

1. High Startup Costs: The investment required to open a med spa is substantial.

2. Regulatory Compliance: Complying with medical regulations and keeping up with changes can be challenging.

3. Hiring Qualified Staff: It can be difficult to find and retain experienced and qualified staff.

4. Competition: With the growing popularity of med spas, the competition can be steep.

5. Technology Upgrades: The constant growth in cosmetic technology necessitates continual upgrading of equipment.

6. Client Retention: Ensuring consistent client satisfaction to gain repeated business and referrals can be tough.

7. Marketing: Effectively marketing your services to the right audience and standing out can be daunting.

Running a successful med spa can be rewarding but it comes with its own set of challenges that must be navigated with careful planning and strategic decision making. Despite these challenges, owning a med spa can be a profitable and fulfilling enterprise.

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How To Create the Ultimate Spa Business Plan

B uilding your ultimate spa business means figuring out your brand, audience, and services. Picking the right software matters for both initial and prolonged success.

Ramp Up Your Revenue With the Ultimate Spa Business Plan

There is no time like the present to start a spa business. Although creating your spa business plan might feel like a daunting task, AestheticsPro is here to let you know that crafting the ultimate spa business plan can be done, and we can help you figure it out. From creating your own unique brand to coordinating your services, you can get your spa off to a great start by forming and sticking to a plan.

Create Your Brand

Before you do anything else, think about how you want to present your spa. What is its brand? What do you wish to convey to potential clients? Is your spa more upscale or low-key? How you visually present your vibe matters, so consider your brand while building your spa business plan or medical spa business plan.

Start by picking a relevant and catchy name. This name should reflect your target clientele, and it can also reference your community or family name. From there, you will want to select your typography and logo for visual cues, then think about how you will integrate photography and a color palette.

Determine Which Services You'll Offer and What Equipment You'll Need

Once you have nailed your brand, consider which services you will offer and which pieces of equipment you will need. You can diversify your med spa or spa business plan as you see fit. A business can be considered a spa if it offers at least two of the following services:

• - Body treatments (including hair removal and skincare)
• - Skin care (makeup included)
• - Massage care

Med spas are defined by the American Med Spa Association ( AmSpa ) as a hybrid between an aesthetic medical center and a day spa. They provide services like Botox, neurotoxins and injectables, and fillers.

You are probably going to want to provide at least a few of the services mentioned above, if not all of them (in which case you will be considered a full-service spa). Consider hiring an employee who is knowledgeable about services you are less familiar with. Also bear in mind that you will need to adhere to state and local licensing laws.

If you are running a day spa, you will need facilities like lockers and showers for your clients, as well as sound-proof rooms for quiet massage treatments. You might also want to invest in things like massage chairs or tables, hot towel warmers, furniture for the reception area, a pedicure ottoman, and a jacuzzi or hydrotherapy tub.

Hone In on Your Target Audience

Who are you really catering to? Who is your ideal client? Consider what will attract the right client. What is in demand right now? Massages are popularly sought-after by clients, and the majority of spa-goers tend to get them at least once a year.

Look around at the vast spa industry for clues to who goes to spas. AmSpa reports that men account for around 10% to 20% of all cosmetic treatments. Men are going to spas more and more, and they are certainly worth integrating into your target audience.

Market Your Spa

How you market your spa matters. Jumping on social media on occasion just won't cut it - you need to be strategic and consistent. Marketing is psychologically-based and multi-faceted. Used properly, social media platforms are a great way to start off, and they can help you get some initial promotions noticed by the general public. Using a lead generator, like the Lead Generator API offered by AestheticsPro , on your site along with social media and email marketing makes it easy for leads to request more information. You can include a special promotion discount or package deal for those who subscribe to your newsletter.

According to recent studies, 85% of consumers trust print ads the most when making a purchasing decision. Print marketing has not yet gone out of style, but you need to factor in the cost of it versus online marketing. Do not rule print marketing out entirely from your aesthetic spa business plan.

Select the Software You Will Need

AestheticsPro offers a wide range of software options for your spa. Client management tools lets you easily access client information and share knowledge among your team. You can coordinate the scheduling of rooms, equipment, and services with service and scheduling management tools. You can also utilize revenue boosting features such as gift cards, packages, loyalty points, and rewards and referrals. No matter which features you use within a software application, you will find that software designed specifically for the medical spa industry will save you time and money while keeping you compliant and organized.

If you're stuck, contact AestheticsPro . Check out our demo and look at a med spa business plan sample. Building a business plan for a spa can be accomplished without a lot of hassle, and we are here to help you.

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Medical Spa Business Plan Template

Written by Dave Lavinsky

Medical Spa Business Plan

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their medical spas. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a medical spa business plan template step-by-step so you can create your plan today.

Download our Ultimate Medical Spa Business Plan Template here >

What Is a Med Spa Business Plan?

A med spa business plan provides a snapshot of your medical spa as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Medical Spa

If you’re looking to start a medical spa, or grow your existing medical spa, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your medical spa in order to improve your chances of success. Your business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Medical Spas

With regards to funding, the main sources of funding for a medical spa are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for medical spas.

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Medical spa business plan example.

If you want to start a medical spa or expand your current one, you need a business plan. Below we detail what you should include in each section a med spa business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of medical spa you are operating and its status. For example, are you a startup, do you have a medical spa that you would like to grow, or are you operating a chain of medical spas?

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the medical spa industry. Discuss the type of medical spa you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.  

Company Analysis

In your company analysis, you will detail the type of medical spa you are operating.

For example, you might operate one of the following types of medical spas:

• Spa with medical services : this type of medical spa business provides traditional spa services in addition to services (such as injectables) that require medical supervision.
• Medical spa: this type of business typically only provides services that need to be supervised by a doctor, or performed by medical personnel.
• Plastic surgeon with medical spa: this type of business primarily offers cosmetic surgical procedures, but also offers non-surgical aesthetic services (such as dermaplaning).

In addition to explaining the type of medical spa you will operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of treatments performed, number of positive reviews, number of repeat customers, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the medical spa industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the medical spa industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy, particularly if your research identifies market trends.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section:

• How big is the medical spa industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your medical spa? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: Millennials, Gen X, and Baby Boomers.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of medical spa you operate. Clearly, Millennials would respond to different marketing promotions than Baby Boomers, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most medical spas primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.  

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other medical spas.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes traditional spas, or home treatments. You need to mention such competition as well.

With regards to direct competition, you want to describe the other medical spas with which you compete. Most likely, your direct competitors will be other medical spas in your area.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• What types of services do they offer (surgical, minimally-invasive, etc.)?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide a broader range of services, like permanent makeup, vein treatments, etc.?
• Will you retail medical-grade skincare products?
• Will you provide specialty techniques that your competitors don’t offer?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a medical spa, your marketing plan should include the following:

Product : In the product section, you should reiterate the type of medical spa company that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to facial fillers and injectables, will you also offer microdermabrasion?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the products and services you offer and their prices.

Place : Place refers to the location of your medical spa company. Document your location and mention how the location will impact your success. For example, is your medical spa located in a busy retail district or in a medical district, etc. Discuss how your location might be the ideal location for your customers.

Promotions : The final part of your medical spa marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Advertising in local papers and magazines
• Reaching out to local websites
• Social media marketing
• Local radio advertising

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your medical spa, including sourcing and ordering treatment inputs, providing consultations, marketing, and performing treatments.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 1,000 th patient / customer, or when you hope to reach $X in revenue. It could also be when you expect to expand your medical spa to a new location.  

Management Team

To demonstrate your medical spa’s ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in managing medical spas. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in running medical spas or successfully running a plastic surgery practice.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you perform surgery every morning, or will you dedicate certain days to specific procedures? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your medical spa, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a medical spa:

• Location build-out including design fees, construction, etc.
• Cost of equipment and supplies
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your spa location lease or a treatment list, or any endorsements or industry accolades you may have received.

Putting together a business plan for your medical spa is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the medical spa industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful medical spa.  

Where Can I Download a Medical Spa Business Plan PDF?

You can download our medical spa business plan PDF here. This is a medical business plan template PDF you can use to help get you started on your own med spa business plan.  

Medical Spa Business Plan FAQs

What is the easiest way to complete my medical spa business plan.

Growthink's Ultimate Medical Spa Business Plan Template allows you to quickly and easily complete your Medical Spa Business Plan.

What is the Goal of a Business Plan's Executive Summary?

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of medical spa business you are operating and the status; for example, are you a startup, do you have a medical spa business that you would like to grow, or are you operating a chain of medical spa businesses?

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Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how a Growthink business planning advisor can create your business plan for you.

Other Helpful Business Plan Articles & Templates

Medical Spa Business Plan Template & Guidebook

If you're thinking about starting a medical spa, then you can't afford to miss out on the #1 Medical Spa Business Plan Template & Guidebook. This comprehensive guidebook provides an easy-to-follow roadmap for developing a successful business plan, from finding essential funding to setting realistic goals. Discover everything you need to get your business up and running, from understanding the current trends in the medical spa industry to developing a marketing strategy for your services. With the help of this template and guidebook, you'll have all the tools necessary to create a thriving medical spa business.

Get worry-free services and support to launch your business starting at $0 plus state fees.

• How to Start a Profitable Medical Spa Business [11 Steps]
• List of the Best Marketing Ideas For Your Medical Spa Service:

How to Write a Medical Spa Business Plan in 7 Steps:

1. describe the purpose of your medical spa business..

The first step to writing your business plan is to describe the purpose of your medical spa business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a medical spa business:

Our mission at [name of Medical Spa] is to provide high quality, cost effective medical spa services in a safe and relaxing environment. We will create an atmosphere filled with knowledgeable, certified professionals who facilitate a positive healing experience through beauty, aesthetic treatments, and well-being services. We strive to empower each client with education and knowledge that empowers them to make well-informed decisions about their health and wellness.

2. Products & Services Offered by Your Medical Spa Business.

The next step is to outline your products and services for your medical spa business. 

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

• What is my business?
• What are the products and/or services that I offer?
• Why am I offering these particular products and/or services?
• How do I differentiate myself from competitors with similar offerings?
• How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your medical spa business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

A good marketing plan for your medical spa business includes the following elements:

Target market

• Who is your target market?
• What do these customers have in common?
• How many of them are there?
• How can you best reach them with your message or product?

Customer base 

• Who are your current customers? 
• Where did they come from (i.e., referrals)?
• How can their experience with your medical spa business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

• How does it work, what features does it have, and what are its benefits?
• Can anyone use this product or service regardless of age or gender?
• Can anyone visually see themselves using this product or service?
• How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

• Which companies are competing with yours today (and why)? 
• Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
• What specific advantages does each competitor offer over yours currently?

Marketing channels

• Which marketing channel do you intend to leverage to attract new customers?
• What is your estimated marketing budget needed?
• What is the projected cost to acquire a new customer?
• How many of your customers do you instead will return?

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4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations. 

In it, you should list:

• The equipment and facilities needed
• Who will be involved in the business (employees, contractors)
• Financial requirements for each step
• Milestones & KPIs
• Location of your business
• Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a medical spa business?

In order to run a successful Medical Spa business, you will need the following:

• Medical equipment, such as lasers, dermal fillers, and chemical peels
• Beauty supplies, including facial products, waxing items, and massage lotions
• Licensing from local health departments and governing boards of cosmetology or aesthetics
• Gym equipment for health activities such as yoga or Pilates
• Business insurance to protect yourself, your business, and your employees

5. Management & Organization of Your Medical Spa Business.

The second part of your medical spa business plan is to develop a management and organization section.

This section will cover all of the following:

• How many employees you need in order to run your medical spa business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
• The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
• How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Medical Spa Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a medical spa business varies based on many different variables, but below are a few different types of startup costs for a medical spa business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your medical spa business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your medical spa business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Here are some steps you can follow to devise a financial plan for your medical spa business plan:

• Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
• Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
• Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
• Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
• Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
• Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

Frequently Asked Questions About Medical Spa Business Plans:

Why do you need a business plan for a medical spa business.

A business plan is essential for a medical spa business as it identifies the goals and objectives of the business, outlines strategies to achieve those goals, and provides an overview of the potential financial resources required to establish and maintain a successful medical spa venture. It also serves as a roadmap for keeping the business organized and on track by outlining how it will meet its financial obligations and create a viable path to profitability. Finally, having a well-developed business plan allows a medical spa business to present itself more effectively to potential investors and lenders.

Who should you ask for help with your medical spa business plan?

When creating a business plan for a medical spa, it is recommended to consult with a professional advisor or business consultant. They can provide valuable advice on which strategies are best for the particular business and industry, as well as help ensure that all legal requirements are met and that financial projections are realistic. Additionally, an accountant should be consulted to ensure accurate financial projections and help with tax planning.

Can you write a medical spa business plan yourself?

Yes, it is possible to write a medical spa business plan yourself. You should start by researching the medical spa industry and current trends so that you can understand the overall market and create a strategy that appeals to customers. You should then identify your target customer base and develop an effective marketing strategy to reach them. Additionally, you will need to create a budget for the project, identify necessary resources and personnel, craft a management team, and develop operational procedures for running the business. Lastly, you should create financial projections for your business plan.

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Home » Healthcare

A Sample Medical Spa Business Plan Template

A medical spa is a business that typically offers numerous health treatments. Unlike regular spas, medical spas pay detailed attention to more difficult issues such as widespread discoloration and wrinkles. The treatments include deeper chemical peels, injections (such as Botox), and laser treatments.

Available data from the United States shows that there are 19,919 Health & Wellness Spas in the US as of 2022, an increase of 0.4 percent from 2022. The number of businesses in the Health & Wellness Spas industry in the US has grown 0.4 percent per year on average over the five years between 2017 – 2022.

The Health & Wellness Spas industry in the US is labor intensive which means businesses are more reliant on labor than capital. The highest costs for business in The Health & Wellness Spas industry are Wages (69.6 percent), Purchases (5.3 percent), and Rent & Utilities (1.2 percent).

Steps on How to Write a Medical Spa Business Plan

Executive summary.

Amie Pamela® Medical Spa, Inc. is a licensed and registered medical spa center that will be based in Lake Havasu City, Arizona. The organization will serve those who need professional medical spa services (balneotherapy). We are going to be health-conscious and customer-centric with a service culture that will be deeply rooted in the fabric of our organizational structure and indeed at all levels of the organization.

Amie Pamela is the founder and CEO of Amie Pamela® Medical Spa, Inc.

Company Profile

A. our products and services.

Amie Pamela® Medical Spa, Inc. will provide a wide range of services that revolve around balneotherapy treatments. That is providing deeper chemical peels, injections (such as Botox), and laser treatments, providing massages, dermal fillers, laser hair removal, body contouring, body sculpting, dermabrasion facials, providing skincare treatments, and retailing skincare and cosmetic merchandise.

Our products and services are designed to help our clients enjoy full restoration from peeling skins, reinvigoration of their skin, and relaxation of their bodies.

b. Nature of the Business

Our medical spa will operate on a Business to consumer business model. We will offer our services directly to the end-user without any middleman arrangement.

c. The Industry

Amie Pamela® Medical Spa, Inc. will operate under the Health and Wellness Spas industry.

d. Mission Statement

Our mission is to provide safe and secured medical spa treatment geared towards helping our clients enjoy full restoration from peeling skins, reinvigoration of their skin, and relaxation of their bodies.

e. Vision Statement

Our vision of establishing our medical spa is to become the pacesetter in every city where we are located.

f. Our Tagline (Slogan)

Amie Pamela® Medical Spa, Inc. – Brighter Skin, Reinvigorated Life!

g. Legal Structure of the Business (LLC, C Corp, S Corp, LLP)

Amie Pamela® Medical Spa, Inc. will be formed as a Limited Liability Company, LLC.

h. Our Organizational Structure

• Chief Operating Officer (Owner)
• Spa Manager
• Licensed Aesthetician
• Experienced Esthetician (Laser Technician Med Spa)
• Nurse Practitioner “Experienced Cosmetic Injector”
• Medical Spa Sales/Patient Care Coordinator
• Customer Service Officer (Receptionist)

i. Ownership/Shareholder Structure and Board Members

• Amie Pamela (Owner and Chairman/Chief Executive Officer) 51 Percent Shares
• Austin Normal (Board Member) 19 Percent Shares
• Sydney Lance (Board Member) 10 Percent Shares
• Moses Simone (Board Member) 10 Percent Shares
• Mariah Gomez (Board Member and Sectary) 10 Percent Shares.

SWOT Analysis

A. strength.

• Ideal Location for medical spa
• Highly experienced and qualified employees and management
• Access to supplies
• Highly secured and clean facility

b. Weakness

• Inability to initially run and manage the organization without falling back to savings
• Financial Limitations
• Operating from a leased facility (restriction to fully modify the facility to suit our style and taste)
• Inability to retain our highly experienced and qualified employees longer than we want.

c. Opportunities

• Growing acceptance of medical spa treatment and services
• Build upon existing clientele
• Online market, new services, new technology, and of course the opening of new markets.

i. How Big is the Industry?

The Health and Wellness Spas industry is a growing industry. The industry reached a market size of 18 billion U.S. dollars in 2020. Within this industry, there were approximately 366 thousand employees and a total of over 22 thousand businesses.

ii. Is the Industry Growing or Declining?

Available statistics point to the fact that the industry is presently not growing and revenue for the industry has been adjusted from an increase to a decline. This is because the COVID-19 (coronavirus) pandemic has limited the Health and Wellness Spa industry’s ability to perform due to the risk of spreading the virus.

Please note that in the coming year (2022), the revenue for the industry is anticipated to decline slightly, but as the economy recovers and COVID-19 (coronavirus) cases subsequently drop in line with the nationwide vaccination rollout, industry revenue will likely increase.

iii. What are the Future Trends in the Industry

The Health and Wellness Spas industry is changing, and players in the industry are improvising. No doubt, technology, and customized software will change the landscape of the Health and Wellness Spas industry going forward.

iv. Are There Existing Niches in the Industry?

No, there are no niche ideas when it comes to the medical spa line of business. This is because the medical spa business is a niche idea in the Health and Wellness Spas industry.

v. Can You Sell a Franchise of your Business in the Future?

Amie Pamela® Medical Spa, Inc. has plans to sell franchises in the nearest future and we will target major cities with a growing working class and upwardly mobile people who are subjected to stress in the United States of America.

• The spread of coronavirus and similar pandemic
• The first year will be financially tight while we gain customers and pay off loans
• Management of employees requires time, money, and efforts
• The medical and health department could change their regulatory status and decide to regulate enforce strict regulations that can strangulate new business
• The arrival of competitors within our market space.

i. Who are the Major Competitors?

• Canyon Ranch
• Montage Hotels & Resorts
• The Woodhouse Spas Corporation
• Massage Envy Franchising LLC
• Radiance Medspa
• Pure Vanity
• V/O Med Spa
• Kalologie 360 Spa
• Sirius Day Spa
• Face to Face Spa
• Massage Green Spa
• The Elements Massage brand
• Infinity Med Spa
• Trifecta Med Spa Downtown
• Cadella Medical Spa and Wellness Center
• SOLUX Med Spa
• Georgetown Allure Medical Spa
• The Natural Look MedSpa
• Persona Medical Spa
• Radiant Skin
• Simply Beautiful Medical Spa
• Reverse Laser and Medical Aesthetics, LLC
• Lake Austin Spa Resort
• We Care Detox Spa

ii. Is There a Franchise for Medical Spa Business? 

Yes, there are franchise opportunities for the medical spa business, and here are some of them;

• Radiance Medspa ($269,300 – $533,300)
• Massage Green Spa (Initial investment: $170,000 – $282,000)
• Pure Vanity (Initial investment: $387,000 – $746,000)
• V/O Boutique Medical Spa (Initial investment: $583,850 – $723,900)
• Kalologie 360 Spa (Initial investment: $150,000 – $460,000)
• The Elements Massage brand (Initial investment: $312,650 – $560,750)
• Sirius Day Spa (Initial investment: $477,950 – $698,750)
• The Woodhouse Spas Corporation (Initial investment: $1,231,600 – $1,833,100)
• Spavia (Initial investment: $292,465 – $636,905)
• Face to Face Spa (Initial investment: $237,000 – $444,000).

iii. Are There Policies, Regulations, or Zoning Laws Affecting Hospice Agencies?

Yes, there are county and state regulations for medical spa business and it is important to state that each state has its requirements as there are different laws and costs per state, it’s important to do your research into local regulations and zoning policies.

Administering Botox, collagen, and Restylane in California is a medical procedure and is regulated by the medical board of California. In New York, spas can be owned by anyone. However, if you wish to perform medical treatments such as Botox and fillers, the procedures must be performed by a medical professional and paid directly to the medical professional.

Marketing Plan

A. who is your target audience.

i. Age Range

Our target market comprises of adults above 18 years old who have the finance to do business with us.

ii. Level of Educational

We don’t have any restriction on the level of education of those we will welcome to our medical spa.

iii. Income Level

We don’t have any cap on the income level of those who we will welcome to our medical spa.

iv. Ethnicity

There is no restriction when it comes to the ethnicity of the people we will welcome them to our medical spa.

v. Language

There is no restriction when it comes to the language spoken by the people we will welcome to our medical spa but we will prefer people that speak English and Spanish.

vi. Geographical Location

Anybody from any geographical location will be welcomed in our medical spa.

vii. Lifestyle

Amie Pamela® Medical Spa, Inc. will not restrict any person from accessing our facility and services based on their lifestyle, culture, or race.

b. Advertising and Promotion Strategies

• Host Themed Events That Catch the Attention of Potential Clients.
• Tap Into Text Marketing.
• Use FOMO to Run Photo Promotions.
• Share Your Events in Local Groups and Pages.
• Turn Your Social Media Channels into a Resource
• Develop Your Business Directory Profiles
• Build Relationships with other healthcare service providers and related organizations in our Area

i. Traditional Marketing Strategies

• Marketing through Direct Mail.
• Print Media Marketing – Newspapers & Magazines.
• Broadcast Marketing -Television & Radio Channels.
• OOH, Marketing – Public Transits like Buses and Trains, Billboards, Street shows, and Cabs.
• Leverage direct sales, direct mail (postcards, brochures, letters, fliers), print advertising (magazines, newspapers, coupon books, billboards), referral (also known as word-of-mouth marketing), radio, and television.

ii. Digital Marketing Strategies

• Social Media Marketing Platforms.
• Influencer Marketing.
• Email Marketing.
• Content Marketing.
• Search Engine Optimization (SEO) Marketing.
• Affiliate Marketing
• Mobile Marketing.

iii. Social Media Marketing Plan

• Start using chatbots.
• Create a personalized experience for each of our clients.
• Create an efficient content marketing strategy.
• Create a community for our freelance marketers and influencers.
• Gear up our profiles with a diverse content strategy.
• Use brand advocates.
• Create profiles on the relevant social media channels.
• Run cross-channel campaigns.

c. Pricing Strategy

When working out our pricing strategy, Amie Pamela® Medical Spa, Inc. will make sure it covers time, service delivery, supplies, premium, economy or value, and full medical spa (balneotherapy) package for each of our clients. In all our pricing strategy will reflect;

• Cost-Based Pricing
• Value-Based Pricing
• Competition-Based Pricing.

Sales and Distribution Plan

A. sales channels.

Our channel sales strategy will involve using partners and third parties—such as referral partners, affiliate partners, hospitals, freelance marketers, and social media influencers to help refer clients to us.

Amie Pamela® Medical Spa, Inc. will also leverage the 4 Ps of marketing which are the place, price, product, and promotion. By carefully integrating all these marketing strategies into a marketing mix, we can have a visible, in-demand service that is competitively priced and promoted to our patients and donors.

b. Inventory Strategy

The fact that we will need medical spa supplies and medications per time means that Amie Pamela® Medical Spa, Inc. will operate an inventory strategy that is based on a day-to-day methodology for ordering, maintaining, and processing items in our warehouse. We will develop our strategy with the same thoroughness and attention to detail as we would if we were creating an overall strategy for the business.

c. Payment Options for Customers

Here are the payment options that Amie Pamela® Medical Spa, Inc. will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via credit cards
• Payment via online bank transfer
• Payment via check
• Payment via mobile money transfer

d. Return Policy, Incentives, and Guarantees

At Amie Pamela® Medical Spa, Inc., we offer services, so we don’t accommodate return policy, but we will make sure we give out incentives from time to time to our esteem customers.

e. Customer Support Strategy

Our customer support strategy will involve seeking customers’ feedback. This will help us provide excellent customer service to all our clients, it will help us to first understand their needs, experiences, and pain points. Regularly, we will work towards strengthening our Customer Service Team and also Leverage Multi-Channel Servicing as part of our customer support strategy.

Operational Plan

Overall, we plan to expand our revenue by 25 percent in the second year and the plan will include a marketing, sales, and operations component. The operations component of the plan would include attracting partnerships and referrals that will enable the firm to boost our service offerings and support revenue growth.

a. What Happens During a Typical Day at a Medical Spa?

• The business is open for the day’s work
• The spa beds and equipment are cleaned, adjusted, and set for the day’s job
• Customers are attended to
• Scheduled maintenance and servicing of ambulettes are carried out
• Marketing/website upkeep
• Administrative duties
• The business is closed for the day.

b. Production Process (If Any)

There is no production process when it comes to the medical spa business .

c. Service Procedure (If Any)

Medical spas’ service procedure vary widely and depend greatly on the medical director or owner’s experience and predilection. At Amie Pamela® Medical Spa, Inc., our service procedure will include microdermabrasion, mild chemical peels, medical facials, laser hair removal, photo rejuvenation, botulinum toxin, and injectable fillers.

d. The Supply Chain

Amie Pamela® Medical Spa, Inc. will establish a business relationship with wholesale supplies of medical spa supplies and medications.

e. Sources of Income

Amie Pamela® Medical Spa, Inc. make money from;

• Providing treatments include deeper chemical peels, injections (such as Botox), and laser treatments
• Providing massages
• Dermal Fillers.
• Laser Hair Removal.
• Body Contouring (Body Sculpting)
• Dermabrasion Facials.
• Providing skincare treatments
• Retailing skincare and cosmetic merchandise

Financial Plan

A. amount needed to start our medical spa.

Amie Pamela® Medical Spa, Inc. would need an estimate of $285,500 to successfully set up our medical spa in the United States of America. Please note that this amount includes the salaries of all our staff for the first month of operation.

b. What are the Cost Involved?

• Business Registration Fees – $750.
• Legal expenses for obtaining licenses and permits – $7,300.
• Marketing, Branding and Promotions – $5,000.
• Business Consultant Fee – $2,500.
• Insurance – $5,400.
• Rent/Lease – $70,000.
• Other start-up expenses including commercial satellite TV subscriptions, stationery ($500), and phone and utility deposits ($2,800).
• Operational Cost (salaries of employees, payments of bills et al) – $40,000
• Start-up inventory – $15,000
• Store Equipment (cash register, security, ventilation, signage) – $4,750
• Furnishing and Equipping – $120,000
• Website: $600
• Opening party: $3,000
• Miscellaneous: $2,000

c. Do You Need to Build a Facility? If YES, How Much Will It Cost?

Amie Pamela® Medical Spa, Inc. will not build a new facility for our medical spa; we intend to start with a long-term lease and after 5 years, we will start the process of acquiring our facility.

d. What are the Ongoing Expenses for Running a Medical Spa Business?

• Cost of stocking up supplies
• Utility bills (gas, internet, phone bills, signage and sewage et al)
• Maintenance and repair of equipment
• Salaries of employees

e. What is the Average Salary of your Staff?

• Chief Operating Officer (Owner) – $68,000 Per Year
• Spa Manager – $48,000 Per Year
• Licensed Aesthetician- $47,000 Per Year
• Experienced Esthetician (Laser Technician Med Spa) – $47,000 Per Year
• Nurse Practitioner “Experienced Cosmetic Injector” – $47,000 Per Year
• Sales/Patient Care Coordinator – $38,000 Per Year
• Accountant – $38,000 Per Year
• Customer Service Officer (Receptionist) – $26,100 Per Year

f. How Do You Get Funding to Start a Medical Spa Business

• Raising money from personal savings and sale of personal stocks and properties
• Applying for a loan from the bank
• Source for soft loans from your family members and friends.

Financial Projection

A. how much should you charge for your product/service.

At Amie Pamela® Medical Spa, Inc. our service charge will range anywhere from $175 to $500 depending on the services rendered.

b. Sales Forecast?

• First Fiscal Year (FY1): $550,000
• Second Fiscal Year (FY2): $950,000
• Third Fiscal Year (FY3): $1.5 million

c. Estimated Profit You Will Make a Year?

• First Fiscal Year (FY1): $175,000 (50% of revenue generated)
• Second Fiscal Year (FY2): $337,000 (45% of revenue generated)
• Third Fiscal Year (FY3): $540,000 (45% of revenue generated)

d. Profit Margin of a Medical spa Product/Service

The ideal profit margin we hope to make at Amie Pamela® Medical Spa, Inc. will be between 35 and 50 percent on service charges.

Growth Plan

A. how do you intend to grow and expand by opening more retail outlets/offices or selling a franchise.

Amie Pamela® Medical Spa, Inc. will grow our medical spa by first opening other facilities in key cities in the United States of America within the first five years of establishing the organization and then will start selling franchises from the sixth year.

b. Where do you intend to expand to and why? (Geographical Locations)

Amie Pamela® Medical Spa, Inc. plans to expand to Sumter, South Carolina, Tinton Falls, New Jersey, Santa Fe, California, Stillwater, Oklahoma, Longboat Key, Florida, Wintergreen, Virginia, Charleston, West Virginia, Palm Beach Gardens, Florida, and Portland, Oregon.

The reason we intend to expand to these location is the fact that, for example, Portland boasts of having the highest number per capita in the U.S.

The founder of Amie Pamela® Medical Spa, Inc. intends to build a family business hence our exit plan will be family succession. For that reason, the founder Amie Pamela is already grooming her daughter Mrs. Andrea McKenzie to take over from her. Mrs. Andrea McKenzie is at the moment being groomed to go through the company’s employment process without any bias.

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• How much money is the medical spa industry worth?
• Is the market going down or up?
• Who are the main companies that we are competing against in our industry?
• Who are the main people who sell things in the market?
• What factors are influencing the industry?
• What do experts think will happen to the industry in the next 5–10 years?
• How big is the market for your medical spa?

4. Find Customers & Marketing Plans:

• Advertising in local papers and magazines
• Reaching out to local websites
• Social media marketing
• Local radio advertising

5. Proper Competitor Analysis:

• Who do they help?
• What kinds of treatments can they do (operations, less invasive methods, etc.)
• How much does it cost (high, low, etc.)
• What are they skilled at?
• What things are they not good at?

6. Operational & Financial Plans:

7. income statements & cash flows:.

• Building a location, including design costs, construction, and other expenses.
• The money needed for equipment and materials.
• Payment is given to employees for their work.
• Business insurance is a type of coverage that helps protect a business from financial losses.
• Taxes and permissions.
• Costs for lawyer help.

Frequently Asked Questions (FAQs):

In conclusion:, our policies.

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Health and Medical Spa Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Fitness and Wellness » Medical Spa

Are you about starting a health & medical spa ? If YES, here’s a complete sample health & medical Spa business plan template & feasibility report you can use for FREE .

All over the world, especially in the western world, one could wake up one morning and decide to have a body procedure. This is one of the reasons why the health and spa business have continued thrive. Beauty health practitioners make sure that they give their clients the best of procedures.

A Sample Health and Medical Spa Business Plan Template

1. industry overview.

The Health and Wellness Spa industry has experienced stable development over the five years to 2016. Industry proceeds have progressively recovered with improving per capita disposable income and consumer confidence. To make profit, spas have stretched their array of service offerings, predominantly their range of anti-aging and medical treatments.

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The baby-boomer generation is likely to take advantage of growing anti-aging services over the next five years, making the demographic an exclusively important source of industry growth. Most services at a medical spa are executed by medical professionals such as physician’s assistants, nurses and aestheticians.

Medical spas are supervised by a physician, although the doctor may not always be on site or handle many of the procedures. In the united states of America, there is always the need to work so as take care of the basic needs of life.  Some folks get to work round the clock with little or no time left for them to take care of themselves, hence their health may suffer.

Some do not even mind looking the way they are because there isn’t ample time to take a rest. Yet others wouldn’t mind setting aside some little time to pamper themselves at a health and medical spa. This set of people would not mind to visit a spa or have a spa attendant come to their homes to give them a massage.

Over the years we have come to see that the spa business has continued to be on the rise, as the demand for it has continued to increase.

One of the very good things about this trade is the ability to have a spa attendant come for a private service. In the past this used to be a challenge as some assistants were reluctant, but recently things have changed as the spa industry has gone a step further in rendering more services.

Starting a spa just like every other business requires one to be thoroughly calculative. Steps like renting or buying a facility to use, procuring the various equipment needed, finding the right employees, as well as getting the required skills, are just some of the hurdles that must be scaled.

Nonetheless, there are other very technical steps that have to be cancelled out too. It is also very important that in running a spa business successfully, there has to be a flexible payment option for customers to use. It is important to state that these days; spa businesses also provide some other services asides from the typical spa.

They are expanding their services to include anti-aging treatments in order to stimulate growth. Industry employment has grown, keeping pace with overall industry expansion. Some go as far as having a drink and food lounge where customers can unwind whilst they wait, or even after being serviced.

When starting a Spa business, it is necessary to choose a location that is close to a boutique, hair salon or nail salon in order to attract clients that patronize such places.

2. Executive Summary

Miyakay health and Medical Spa world is a new classy neighborhood in Dallas, Texas. It promises an all-round day spa experience. We offer four classy, ultra- chic treatment rooms with premium spa linens and equipment. Our body procedure styles are second to none, as we offer the very best.

Our services include; the traditional Swedish Massage, Hot Stone Massage, Deep Tissue work, Pregnancy, Sports, Reflexology, amongst many others.

We also have very effective facial and body treatments as well as the latest anti-aging products and techniques that can effectively meet the needs of our clients. As a matter of fact, we are conspicuously located near a hair and nail salon, so that we can attract clients who would also be in need of spa services.

Miyakay Health and Medical Spa is a standard Spa lounge in a 4,000 square feet facility. It is therefore no joke to say that we have one of the biggest spas with the latest products and service techniques in Dallas. We have the very best of attendants who have been well trained to make clients’ visit a worthwhile and fun packed one.

We have a posh and classy environment that can attract all and sundry to come have a taste of what it means to run an ultra- chic spa. Furthermore, we have gifts for each customer who comes to patronize us.

Our Spa will open from 8 a.m. and close by 10 p.m. from Mondays to Thursdays, and will run a 24 hour service from Friday to Sunday. We decided to operate in this format because from our market survey and feasibility studies, we realized that customers have the most flexible time schedules during the weekends.

We have well trained employees who have skills on how to give clients the very best. It is no wonder that out mantra at Miyakay is Customers First. The products we use are majorly organic, so customers can be rest assured that there wouldn’t be any reaction whatsoever on their skin.

Our bar attendants and those who man the restaurant arm of our business have the best of drinks and foods that can leave clients satisfied. One of the things that most clients look out for in a spa is the level coziness. We have done adequate research in that area and as such have spent quite a lot in making our Spa really beautiful and conducive.

Our state of the art facility in Dallas, Texas, USA is so attractive that people who need our services cannot but walk in because we use the latest technology in the industry. Our excellent customer service is second to none, as we have exhaustively trained our employees in the business.

Furthermore, Miyakay Health Spa is owned and managed by Miss Hilly Beartop and her family. She is the financier, and she functions as developer and manager of Miyakay Spa.

She has been a business administrator and a sales professional for over 10 years, with a track record that speaks volume.  She has worked as a manager in one of the leading Spas in Dallas. After her retirement there, she decided it was time to start her own business.

3. Our Products and Services

At Miyakay Medical and Health Spa, our supreme aim is to give our clients an all-round experience so that they do not have to look elsewhere. This is one of the reasons why we propose to offer a wide range of services that are carried out by licensed medical practitioners, therapists and aestheticians that would keep our clients asking for more.

Our Ultra-chic facility and ambiance promises a lot. Some of the services and amenities that we offer in our spa include;

• Therapeutic Massage Services
• Body Treatments
• Body Procedures
• Anti-aging Treatments

4. Our Mission and Vision Statement

• Our Vision is to be the number one Medical and Health Spa Lounge in Dallas, Texas.
• Our mission is to run a money-making business by offering health, therapeutic massage and aesthetic services in a gentle, classy and professional setting.

Our Business Structure

Miyakay Health and Medical Spa is set to become one of the leading Spas in Dallas Texas, and as such, we need to lay down a solid business structure.

This would enable us meet and even surpass our expectations. We do not intended to take our customers for granted, which is why we are set to make excellent customer service our watch word. Web also will lay emphasis on employee training and retraining.

We want to build a devoted workforce that will work together to help the organization achieve its projections, because with the right structure in place, we can build systems and structures that will make the business even run on autopilot. Miyakay Medical Spa will employ skilled people to occupy the following position;

• Manager (Owner)
• Medical Practitioner

Accountant/Cashier

• Marketing Officer

Spa Attendant

Aesthetician

Unisex Salon Manager

• Security Guard

5. Job Roles and Responsibilities

Managing Director/CEO (Owner)

• Responsible for providing direction for the business
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy
• Responsible for fixing prices and signing business deals
• Responsible for recruitment
• Responsible for payment of salaries
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Ensures that the facility is in tip top shape and conducive enough to welcome customers
• Prepares budget and reports for the organization
• Responsible for Training and Development in the organization
• Handles procurement
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team hires

Marketing Officer (2)

• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps increase sales and growth for the company
• Manages the company’s CRM system
• Identifies, prioritizes, and reaches out to new partners and business opportunities et al
• Sees to it that clients are attended to and on time
• Books clients for massage sessions
• Passes information to the aesthetician about clients
• Reaches out to clients when information needs to reach them
• Takes and book clients for massage sessions

Medical Practitioners

• In charge of all the body procedures
• Advises a client on the type of risks and advantages involved in procedures
• Follows up on recovery procedures
• Medically counsels clients at all times
• Carries out all massage styles and formulas on clients
• Makes sure they are satisfied at all times
• Makes sure that all beauty and massage therapies are body friendly
• Interacts with customers, take orders for their hairstyles
• Responsible for the day to day welfare of the business
• Responsible for quality control
• Assesses customers’ needs and preferences and make recommendations
• Prepares financial report at the end of every working week
• Handles all financial transaction on behalf of the company
• Interfaces with our bankers
• Responsible for payment of tax, levies and utility bills
• Handles any other duty as assigned by the manager
• Mops the floors
• Wipes down the machines
• Washes off the folding tables
• Cleans the bathroom
• Empties the trash
• Washes the windows
• Cleans the vending machines, change machines and video game screens

Security Guards

• Ensures that the facility is secured at all time
• Controls traffic and organize parking
• Gives security tips to staff members from time to time
• Patrols around the building on a 24 hours basis
• Submits security reports weekly

6. SWOT Analysis

Without a shadow of doubt, starting a medical Spa requires loads of cash, and this especially applies to ambitious businesspersons who may not have huge sum of money saved up in a bank.

We know that tons of cash is vital in the setting up of a typical medical Spa business, and this is why we decided to do all that is required to build a profitable business. Part of the needful step required to be taken, is conducting a SWOT Analysis.

We employed the services of Mr. Napatne Buzak, an HR and Business consultant who is renowned for the trade, to help us conduct SWOT analysis for our company and he did a pretty good job for us. Here is a of the result we got from the SWOT analysis that was conducted on behalf of Miyakay Medical Spa.

Miyakay Medical Spa is centrally situated where there are salons and nail studios. We see this as a strength as we will be able to attract clients who might as well need massages and general body pampering.

We believe that locating our business in Texas would eventually work out for good as we look to attract a great deal of people. Yet another strength we have is the fact that we have equipment that are second to none and these equipment will help us give our clients the best of services.

The weakness of Miyakay Medical Spa is the fact that it is a new business which is owned by an individual (a small family), and we may not have the monetary ability to sustain the kind of publicity that can give us leverage.

• Opportunities:

We are centrally positioned in one of the busiest areas of Dallas, Texas; and we are open to all the available opportunities that the city has to offer. Our business concept has us positioned in such a way that we will attract all and sundry.

One of the major threats that confront businesses all over the world is economic downturn; when the economy is bad, it affects consumer spending which in turn impacts businesses negatively. Another threat that may likely affect us is the competition which is found in the spa industry in general.

Every day, more and more people delve into the industry, and we are aware that only the dogged ones survive, this is why we are trying hard to position ourself in a way that makes everyone want to check us out.

7. MARKET ANALYSIS

• Market Trends

The ability of medical spa business owners to carry on seeking out ways to serve their clients in the most suitable ways is one of the keys to enticing loads of clients. One of the ways that this is done is by adding other matching services to their business offerings.

It is also as a result of this that we at Miyakay medical Spa have some additional services like a beauty salon; where clients, or even their family or friends can hang out and wait for them whilst they get their body procedures done. Also there is a health shop that allows even those who do not want a spa service to shop for products.

We have invested quite a lot in making our medical Spa facility a haven to behold. We have also keyed into the trend and we have succeeded in making the interior and exterior a classy one with competent medical attendants.

8. Our Target Market

Before arriving at the place that would be suitable for our state of the art Spa, we undertook a feasibility studies and market survey and we were able to recognize those who will profit significantly from our service offerings.

As a result, we found out that Dallas, Texas would be our best bet, as we are sure to attract upwardly mobile people, working class folks, as well as non- working class people. Hence, these are the category of people that we intend marketing our Spa business to;

• Busy Corporate Executives
• House Wives
• Business Owners
• Visitors/Travelers

Our competitive advantage

From our feasibility studies and market survey, we observed that the competition in the industry is though because there are quite a number of people who run spas where we are located. It is for this reason that we have added some more services like a drink bar, restaurant and Karaoke lounge, because we know that only very few spa businesses can measure up to what we offer.

Yet another competitive advantage we have over others is that we have a standard Spa facility that offers additional complementary services that will definitely help us attract and retain customers.

We are hopeful that we have a state of the art Spa facility with the best massage techniques ever. We also have an advantage because of the type of products we offer our clients, because they have no side effects at all. We know how harmful some chemicals can be, that is why we have keyed into using organic products.

9. SALES AND MARKETING STRATEGY

• Sources of Income

10. Sales Forecast

Our sales prediction is founded on the data gathered during our feasibility studies and also some of the assumptions readily available on the field with reference to similar businesses in Dallas, Texas. We know that we are well situated and we will definitely attract clients that will not only patronize our spa, but clients that will patronize our bar and restaurant.

This means that we will generate additional income from these sources. Below is the sales projection for our business, it is based on the locality of our Spa and the type of services and products that we will be offering;

• First Year: $80,000
• Second Year-: $120,000
• Third Year-: $180,000

N.B : This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any Spa offering same additional services like us within 4.5 miles radius from our facility.

• Marketing Strategy and Sales Strategy

The marketing policies that we will adopt will be such that can guarantee us great turnover. We will be on our toes all the time to make sure that we shape a loyal customer base. These customers are such that will always patronize our services as well help us use word of mouth to get their friends and acquaintances to patronize us.

We want to drive sales through using really effective organic products and providing excellent services so that we can surpass the expectations of the clients we are able to attract overtime. We shall also keep our clients glued to us by the constant training we will give our employees so that they would always be abreast of changes in the industry.

Our unique selling proposition is that we have various complementary services such as a drink bar, Karaoke lounge, restaurant, as well as the massage techniques we have to offer. We make bold to say that there aren’t too many people who are into Spa business the way want to run ours.

In view of that, we are going to adopt the following strategies to ensure that we do not only attract customers but ensure that they become loyal to our brand.

• Open Miyakay spa with a loud party. We shall also offer free trial for all our visitors for the first three days of launching the business.
• Advertise our medical Spa business on national dailies, local TV stations and local radio stations.
• Endorse Miyakay online via our official website and all available social media platforms.
• Improving the performance of our brands.
• Hire the services of experts to make our brands the first choice in Dallas Texas.
• Delivering consistent customer experience to all our guests; making our first impression count positively.
• Make use of attractive hand bills to create awareness and also to give direction to our state of the art facility.
• Adopt direct mailing coupon marketing approach.
• Position our signage/flexi banners at strategic places.
• Create a loyalty plan that will enable us reward our regular customers.
• Engage in roadshows within our neighborhood to create awareness for our services.

11. Publicity and Advertising Strategy

We are conscious of the power of publicity for new businesses like ours which is why we created a budget that will help us access various publicity and advertising platforms that will enable us reach out to our potential market. At Miyakay, will ensure that we leverage on all conventional and non – conventional publicity and advertising techniques to promote our business. Here are the platforms we intend leveraging on to promote and advertise Miyakay;

• Encourage our loyal customers to help us use Word of Mouth mode of advertisement (referrals)
• Advertise our medical and health business in relevant magazines- beauty and non-beauty magazines, local newspaper, local TV and radio stations
• Promote our health Spa business online via our official website
• List our medical Spa business on local directories (yellow pages)
• Sponsor relevant community programs
• Leverage on the internet and social media platforms like Instagram, Facebook, twitter, et al to promote our brand
• Install our billboards in strategic locations
• Use direct coupon mailing approach
• Engage in roadshows from time to time
• Distribute our fliers and handbills in target areas all around Dallas, Texas

12. Our Pricing Strategy

At Miyakay, our pricing system is going to be based on what is available in the industry, we don’t intend to charge more (except for premium and customized services) and we don’t intend to charge less than our competitors are offering in the city we are located.

Be that as it may, the management of Miyakay Spa has put plans in place to offer discount services once in a while and also to reward our loyal customers especially when they refer clients to us. The prices of our products (Organic skin care products, amongst others) will be same as what is obtainable in any part of the United States of America.

• Payment Options

We have put in place different payment options; particularly for our complimentary service offerings. In other words, our payment policy is going to be all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that will be available in every of our spa;

• Payment by cash/coins
• Payment via Point of Sale (POS) Machine
• Payment via online bank transfer (online payment portal)
• Payment via Mobile money

In view of the above, we have chosen banking platforms that will help us achieve our payment plans without any difficulty.

13. Startup Expenditure (Budget)

These are the key areas where we will spend our startup capital;

• The Total Fee for Registering the Business in Dallas, Texas $750
• Legal expenses for obtaining licenses (Health department license and business license) and permits (Fire department permit, Air and water pollution control permit, and Sign permit et al) – $4,500
• Marketing promotion expenses (2,000 flyers at $0.04 per copy) for the total amount of $3,580
• Cost for hiring Consultant – $2,000
• Insurance (general liability, theft, workers’ compensation and property casualty) coverage at a total premium – $30,800
• Cost of accounting software , CRM software and Payroll Software – $3,000
• Cost for leasing facility for the Spa – $70,000
• Cost for facility remodeling – $50,000
• Other start-up expenses including stationery – $1000
• Phone and Utilities (gas, sewer, water and electric) deposits – $3,500
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $40,000
• The cost for Start-up inventory – $15,000
• The cost for the purchase of furniture and gadgets (Printers, Telephone, TVs, Sound System, tables and chairs et al) – $30,000
• The cost of Launching a Website – $600
• The cost for our grand opening party – $5,500
• Miscellaneous supplies $10,000

We would need an estimate of $1 million to successfully launch our Spa business in Dallas, Texas. Please note that the startup cost is higher than the average startup cost for a Spa business simply because we intend adding other services.

Generating Funding/Startup Capital for Miyakay Health and Medical Spa World

Miyake spa is a family business and it will be financed by the owner who is also a doctor. These are the areas where we intend sourcing for fund for Miyakay health and medical Spa World;

• Generate part of the startup capital from personal savings and sale of stocks
• Generate part of the startup capital from family members and friends (soft loans)
• Generate a larger chunk of the startup capital from the bank

14. Sustainability and Expansion Strategy

Miyakay health and medical Spa World is set to become the number one Spa business in the whole of Dallas, Texas. It is for this reason that we have taken our time to craft out a business plan that will help us set up and grow the business. Part of the plans we have to sustain our business is that we will have efficient machines and equipment.

We will also continue to deliver quality services and think of how to do things faster and cheaper. We are not going to relent in providing a conducive environment for our workers and also give the required training that will help them deliver excellent services at all times.

Check List/Milestone

• Business Name Availability Check: Completed
• Business Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sales (POS) Machines: Completed
• Opening Mobile Money Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business licenses and permits (Health department license and business license, Fire department permit, Air and water pollution control permit, and Sign permit et al): Completed
• Purchase of Insurance for the Business: Completed
• Acquiring facility and remodeling the facility: In Progress
• Conducting Feasibility Studies: Completed
• Generating capital from family members: Completed
• Applications for Loan from the bank: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Marketing/Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Purchase of Massaging machines: In Progress
• Purchase of furniture and gadgets (Printer, Telephone, TVs, Sound System, tables and chairs et al): In progress
• Creating Official Website for the Company: Completed
• Creating Awareness for the business both online and in the neighborhood: In Progress
• Health, Safety and Fire Safety Arrangement (License): Secured
• Opening party/launching party planning: In Progress
• Establishing business relationship with vendors who would supply all our needs in the medical and health spa industry: In Progress