What is a Medical Spa?
Medspa is the setup that provides cosmetic procedures to improve the appearance under the supervision of licensed health care professionals and a team of nurses and aestheticians. Popular procedures done in medspas include botox, chemical peels, laser treatments, dermal fillers, wrinkle removing, tattooing, body sculpting, and photorejuvenation.
THE ADVANTAGES OF OWNING A MEDICAL SPA
$700,000 and $1,000,000 are required to open a medi-spa. There are many costs involved we will discuss below. But tell me to tell you first that this cost has the potential to grow at 38%. According to Amedspa, a medispa earns $1 million in yearly revenue. So it is quite huge. I suggest you plan for your coming generation to enter this industry. Because as we see there is an upward trend of owing a beauty standard in terms of body shape and youthful skin.
HOW TO LEGALLY DO A MEDICAL SPA?
Every business has its own legal requirement. Non-medical professionals cannot legally work with physicians in a partnership setting. Even if you are a medical professional (e.g. nurse) you cannot open a medical spa by yourself – you must have a physician associated with the medical spa. The physician must be responsible for the advertising and marketing. Physicians, while not required to be on-site, must exercise supervision over the facility. The main requirements to start a medspa business are:
- Qualified Medical professional who wants to own the business
- Licenses of all employees to be hired
- Supervision of expert physician
- Intact health care system
Steps To Developing A Successful Medical Spa
- Make a Solid and Focused Business Plan.
Don’t try to be the jack of all trades. There are many procedures that you can offer but you need to define your niche. For example, some spas offer procedures for ethnic skin and some try to focus on the organic products to use in treatments. The key is to not limited yourself to offer narrow choices or not too many to distract and confuse your clients and your own self. Finalize in the very beginning what services you are going to start with, how much and how you will generate the capital by yourself or looking for investors, will you collaborate with other practitioners, etc. There are readymade online business plans for medispa. You just need to fill up the template and your initial plan will be ready.
- Target Audience
Clients are most important in the business plan. Define your target audience and location. Figure out demographics, parking availability, street frontage, and zoning. Don’t try to be the cheapest nor the most expensive spa in the town. Be ready to work in every budget. To gain the confidence of your clients try to educate them about their skin and offer solutions honestly.
- DEVELOPMENT And Infrastructure Plan
To facilitate your client, an impressive and functional build-out is necessary. Hire a professional team to design and build infrastructure that makes sure everything runs smoothly. Where to locate patient waiting room, operating room, medispa equipment, the changing area in the operating room for client privacy. A creative team can make an intelligent structure that meets both a business and client’s requirements adequately.
- Build a Professional team
A good esthetician is vital to gain client trust but his team and staff are not competent then there are chances your client will not return. You need to cut any negative energy in your spa. Make sure your staff members treat the client efficiently, be friendly with other staff members. Give incentive to your employees to work harder and try to avoid any competition among employees. It will eventually pay off in a positive manner.
- Branding in Your Spa
A marketing plan is crucial. Do not copy other spas but try to stand out in a unique way. But it does not mean to promote your spa’s luxe style or interior. But focus on the results of your clients with improvement in their skin. Start promoting before and after photos to motivate the audience to visit your spa. Take advantage of social media to spread the word about your business.
- Create Treatment Menu
When you are done with all initial plans, now decide what types of treatments you are going to offer at the initial stage. It is not necessary to offer all treatments that all other medi-spas are offering. For example, you can offer laser treatment for hair removal only. It needs professional laser hair removal machines and basic spa furniture to start a business. Although these machines are expensive so is the profit margin of this niche. You can gradually add procedures and services to the menu later according to your client’s demand in town and your business growth level. There are some popular procedures you can select to initiate your medical spa business.
- Botox and dermal fillers
- Laser hair removing, wrinkle removing, acne removing, skin lightening
- Medical peels
- Body sculpting
- Thermage Treatment
- Body sculpting
- Equipment Required to Spa Owners
Last but not the least, medispa equipment is essential to provide services to your clients with different types of furniture, tools, and machines. There are many sellers that offer equipment but finding the right one is an important task. As you know spa industry is growing very fast, so investing in high-quality spa equipment will pay off in long run. There is a checklist of all essential equipment required for spa owners.
- Spa massage and facial tables
- Technician stools
- Hot towel cabinets and sterilizers
- Ultraviolet sterile cab
- Carts and trolly to move equipment during the procedure
- Magnifying lamps
- Facial steamers
- Multifunctional units
- Microdermabrasion machines
- Professional Laser Hair removing Machine
- CoolSculpting equipment
- Intense pulse light and laser
- Digital imaging
- POS software
Guide for Beginner Med Spa Entrepreneurs
- Don’t be hesitant t write down a business plan. Plan your vision for five years.
- Take plenty of time to do your homework and maths about the cost involved in rent, insurance, equipment, startup fee, business renovation, the legal fee for a business establishment.
- Build a beautiful spa but don’t go into debt with decor. Don’t try to do it all at once. Slowly and gradually build the luxury ambiance.
- If you are starting out, you can begin with injectables and facial services. Because they are relatively inexpensive and you don’t need to invest a large amount in machines. Later you can add expensive laser machines.
- For injectables, select and stick to only one brand and they will be loyal to you.
- Don’t buy spa equipment at once. Because this industry changes frequently. New procedures and machines come into the market every day. Keep yourself updated with new trends and insight into the industry and invest accordingly.
- Try out a new product before bringing it into your spa.
All this basic information will help you kick start your medi-spa business. Because of high ROI, there is no looking back once you enter the field. It is time to put all this reading into action. Best of Luck!