free med spa business plan

• Calendar Schedules at a glance, easily customizable
• Client Management Manage your clients ' journey (one place)
• Client Portal All your clients’ needs in one place
• Online Booking 24/7 booking from your website, Google, and beyond
• Point of Sale Accept payments, manage invoices + better rates
• Business Management Powerful yet easy business reports
• Marketing Your latest business and marketing needs
• Notifications Automated, digital reminders for clients + staff
• Forms & Annotation Easily create digital forms + automate paperwork
• Virtual Meetings Fully integrated, secure and interactive video conferencing
• Reserve with Google Get booked right from your business listing on Google Maps
• Yocale Pay Reduce your payment processing fees by up to 30%
• Yocale Marketing Gain more clients and increase your revenue
• Beauty Services Hair salons, barbers, eyelash studios, etc.
• Health & Medical Medical spas, therapists, optometrists, etc.
• Car & Automotive From carwashes to repair shops.
• Shops & Boutiques For both in-store and online appointments.
• Public & Professionals Law firms, notaries, etc.

• Online Calendar
• Client Management
• Client Portal
• Online Booking
• Point of Sale
• Business Management
• Notifications
• Form & Annotation
• Video Conferencing
• Yocale Marketing
• Beauty Services
• Health & Medical
• Car & Automotive
• Pet Services
• Public & Professionals
• Shops & Boutiques
• 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 driving profitability and sustainable growth.

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

The All-in-One Med Spa Solution

Manage, optimize, grow.

Manage scheduling, charting, payments, marketing, and more. Highly secure and easy to use.

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?
• Create a strong marketing plan. How will you reach your target audience and generate leads?
• 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 an effective, 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 strategically 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. 

Section 12. Marketing and Sales Strategies

This section outlines marketing and sales plans.

a. Marketing Channels and Tactics

• Identify effective marketing channels like social media, SEO, and print ads.
• Detail specific tactics and campaigns for each channel.

b. Marketing Budget

• Develop a marketing budget allocating resources to tactics and channels.
• Ensure proper funding to achieve customer acquisition goals.

c. Sales Projections

• Make sales projections by channel based on reasonable assumptions.
• Establish performance metrics to track and monitor sales activity.

d. Customer Retention

• Create loyalty programs or packages to retain existing customers.
• Set goals for repeat purchase and retention rates.

With integrated marketing and sales plans, you can drive brand awareness, consistently attract new clients, and maximize customer lifetime value.

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

Section 13. 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.

Yocale’s Medical Spa Software, FREE

	EMR designed for medical spas. Digitize your medspa and say goodbye to mounds of paper and spreadsheets. Plus, chart faster – all from your tablet! Save hours every week so you can spend more time with clients.
	The most loved online scheduling experience to match the right esthetician to the right medspa service. Complete with intake and consent forms for a five-star, tailored appointment experience!
	Increase attendance and reduce follow-up time with polished, automatic appointment reminders, complete with directions, electronic forms, links to the self-serve portal and more.
	Schedule medispa appointments by service type. View esthetician, nurse, technician, plastic surgeon and resource availability at a glance. Have the essentials like client profiles, intake forms and charts created just for you!
	Streamline your workflow with online forms: effortless efficiency and compliance through seamless online booking integration.
	Reduce your payment processing fees with wholesale rates and get medispa reports to keep your business on track.
	Next-generation, integrated video conferencing that connects with your smart calendar so you have everything at your fingertips – all at a lower cost. 1-click connect, HD audio.
	More than just software – Yocale is your growth machine so you can do more of what you love.

Section 14. 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 15. 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/

Ready to Get Started?

• Forever free plan
• No credit card required
• Cancel anytime

• Terms of service
• Privacy policy

Popular features

• Online calendar
• Client management
• Forms & annotation
• Virtual appointments
• Help center

Medical Spa Business Plan

Written by Dave Lavinsky

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:

	Total	Percent
Total population	1,680,988	100%
Male	838,675	49.9%
Female	842,313	50.1%
20 to 24 years	114,872	6.8%
25 to 34 years	273,588	16.3%
35 to 44 years	235,946	14.0%
45 to 54 years	210,256	12.5%
55 to 59 years	105,057	6.2%
60 to 64 years	87,484	5.2%
65 to 74 years	116,878	7.0%
75 to 84 years	52,524	3.1%

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.

		FY 1	FY 2	FY 3	FY 4	FY 5
Revenues
	Total Revenues	$360,000	$793,728	$875,006	$964,606	$1,063,382
Expenses & Costs
	Cost of goods sold	$64,800	$142,871	$157,501	$173,629	$191,409
	Lease	$50,000	$51,250	$52,531	$53,845	$55,191
	Marketing	$10,000	$8,000	$8,000	$8,000	$8,000
	Salaries	$157,015	$214,030	$235,968	$247,766	$260,155
	Initial expenditure	$10,000	$0	$0	$0	$0
	Total Expenses & Costs	$291,815	$416,151	$454,000	$483,240	$514,754
EBITDA		$68,185	$377,577	$421,005	$481,366	$548,628
	Depreciation	$27,160	$27,160	$27,160	$27,160	$27,160
EBIT		$41,025	$350,417	$393,845	$454,206	$521,468
	Interest	$23,462	$20,529	$17,596	$14,664	$11,731
PRETAX INCOME		$17,563	$329,888	$376,249	$439,543	$509,737
	Net Operating Loss	$0	$0	$0	$0	$0
	Use of Net Operating Loss	$0	$0	$0	$0	$0
	Taxable Income	$17,563	$329,888	$376,249	$439,543	$509,737
	Income Tax Expense	$6,147	$115,461	$131,687	$153,840	$178,408
NET INCOME		$11,416	$214,427	$244,562	$285,703	$331,329

Balance Sheet

		FY 1	FY 2	FY 3	FY 4	FY 5
ASSETS
	Cash	$154,257	$348,760	$573,195	$838,550	$1,149,286
	Accounts receivable	$0	$0	$0	$0	$0
	Inventory	$30,000	$33,072	$36,459	$40,192	$44,308
	Total Current Assets	$184,257	$381,832	$609,654	$878,742	$1,193,594
	Fixed assets	$180,950	$180,950	$180,950	$180,950	$180,950
	Depreciation	$27,160	$54,320	$81,480	$108,640	$135,800
	Net fixed assets	$153,790	$126,630	$99,470	$72,310	$45,150
TOTAL ASSETS		$338,047	$508,462	$709,124	$951,052	$1,238,744
LIABILITIES & EQUITY
	Debt	$315,831	$270,713	$225,594	$180,475	$135,356
	Accounts payable	$10,800	$11,906	$13,125	$14,469	$15,951
	Total Liability	$326,631	$282,618	$238,719	$194,944	$151,307
	Share Capital	$0	$0	$0	$0	$0
	Retained earnings	$11,416	$225,843	$470,405	$756,108	$1,087,437
	Total Equity	$11,416	$225,843	$470,405	$756,108	$1,087,437
TOTAL LIABILITIES & EQUITY		$338,047	$508,462	$709,124	$951,052	$1,238,744

Cash Flow Statement

		FY 1	FY 2	FY 3	FY 4	FY 5
CASH FLOW FROM OPERATIONS
	Net Income (Loss)	$11,416	$214,427	$244,562	$285,703	$331,329
	Change in working capital	($19,200)	($1,966)	($2,167)	($2,389)	($2,634)
	Depreciation	$27,160	$27,160	$27,160	$27,160	$27,160
	Net Cash Flow from Operations	$19,376	$239,621	$269,554	$310,473	$355,855
CASH FLOW FROM INVESTMENTS
	Investment	($180,950)	$0	$0	$0	$0
	Net Cash Flow from Investments	($180,950)	$0	$0	$0	$0
CASH FLOW FROM FINANCING
	Cash from equity	$0	$0	$0	$0	$0
	Cash from debt	$315,831	($45,119)	($45,119)	($45,119)	($45,119)
	Net Cash Flow from Financing	$315,831	($45,119)	($45,119)	($45,119)	($45,119)
	Net Cash Flow	$154,257	$194,502	$224,436	$265,355	$310,736
	Cash at Beginning of Period	$0	$154,257	$348,760	$573,195	$838,550
	Cash at End of Period	$154,257	$348,760	$573,195	$838,550	$1,149,286

Medical Spa Business Plan FAQs

What is a medical spa company 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.

You can easily complete your medical spa company business plan using our Medical Spa Company Business Plan Template here .

Where Can I Get a 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.

What are the Main Types of Medical Spa Companies?

There are a number of different kinds of medical spa companies , some examples include: spa with medical services, medical spa, and plastic surgeon with medical spa.

How Do You Get Funding for Your Medical Spa Company Business Plan?

Medical spa companies are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding. This is true for a business plan for a medical spa, as well as a botox business plan or a body sculpting business plan.

What are the Steps To Start a Medical Spa Business?

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

• 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.

Say goodbye to boring templates

Build your business plan faster and easier with AI

Plans starting from $7/month

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 .

Related Posts

Eyelash Extension Business Plan

Massage Therapy Business Plan

Esthetician Business Plan

How to Write a Business Plan for Your Startup

Free Sample Business Plans

Best Business Planning Softwares

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

Plan your business in the shortest time possible

No Risk – Cancel at Any Time – 15 Day Money Back Guarantee

Create a great Business Plan with great price.

• 400+ Business plan templates & examples
• AI Assistance & step by step guidance
• 4.8 Star rating on Trustpilot

Streamline your business planning process with Upmetrics .

Get Industry Tips

Request your personalized demo.

By requesting a demo, you agree to receive communication from us. We’ll handle your info according to our Privacy Statement . By entering a phone number, you consent to receive phone calls and SMS from us.

Dive into the Deep End. Pitch your business plan. Win $50,000 to expand your business.

Discover 8 key metrics and latest trends in the 2024 Beauty & Wellness Benchmark Report.

Discover 8 key metrics and the latest trends driving revenue. Download the 2024 Beauty & Wellness Benchmark Report.

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 .

What you should do now

Growth software that nearly 30,000 businesses trust.

Beauty and wellness businesses love Zenoti. 1,000+ reviews and counting.

Recommended Reading

For businesses serious about growth.

Your success is our goal. to get your solution just right, here's what you can expect: .

• A conversation about you: Your business, your goals, and unique business needs
• A technology expert who'll identify the best ways to streamline your operations
• A personalized review that addresses your specific needs and business demands

Zenoti is a financial technology company and not a bank. Checking accounts and the Zenoti Visa Debit Card provided and issued by Lewis & Clark Bank, Member FDIC. Funds deposited into Checking will be eligible for up to $250,000 of FDIC insurance.

Wait, grab these goodies before you go:

• The latest industry benchmarks
• Growth tactics for your business
• Low-cost ways to acquire new clients
• The revenue model driving guest loyalty

Medical Spa Business Plan PDF Example

• March 5, 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.

Make sure to cover here _ Business Overview _ Market Overview _ Management Team _ Financial Plan

Dive deeper into Executive Summary

Business Overview

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.

Make sure to cover here _ Spa & Location _ Treatments & Pricing

Market Overview

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.

Key Competitors

Next, assess the competitive field, which spans from luxury medical spas to more accessible wellness centers, including the emerging trend of at-home wellness and beauty technologies. Highlight what sets your medical spa apart, be it through superior service quality, an exclusive selection of treatments, or expertise in cutting-edge aesthetic and wellness technologies.

Make sure to cover here _ Industry size & growth _ Key competitors _ Key market trends

Dive deeper into Key competitors

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.

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.

Make sure to cover here _ SWOT _ Marketing Plan _ Timeline

Dive deeper into SWOT

Dive deeper into Marketing Plan

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.

Financial Plan

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

Related Posts

Radiant Waxing Franchise Costs $358K – $525K (2024 Fees & Profits)

• June 21, 2024

Pure Sweat Sauna Studio Franchise Costs $393K – $668K (+ 2024 Profits)

Perspire Sauna Studio Franchise Costs $425K – $737K (2024 Fees & Profits)

Privacy overview.

Cookie	Duration	Description
BIGipServerwww_ou_edu_cms_servers	session	This cookie is associated with a computer network load balancer by the website host to ensure requests are routed to the correct endpoint and required sessions are managed.
cookielawinfo-checkbox-advertisement	1 year	Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category .
cookielawinfo-checkbox-analytics	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional	11 months	The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
CookieLawInfoConsent	1 year	Records the default button state of the corresponding category & the status of CCPA. It works only in coordination with the primary cookie.
elementor	never	This cookie is used by the website's WordPress theme. It allows the website owner to implement or change the website's content in real-time.
viewed_cookie_policy	11 months	The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.

Cookie	Duration	Description
__cf_bm	30 minutes	This cookie, set by Cloudflare, is used to support Cloudflare Bot Management.
language	session	This cookie is used to store the language preference of the user.

Cookie	Duration	Description
_ga	2 years	The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors.
_ga_QP2X5FY328	2 years	This cookie is installed by Google Analytics.
_gat_UA-189374473-1	1 minute	A variation of the _gat cookie set by Google Analytics and Google Tag Manager to allow website owners to track visitor behaviour and measure site performance. The pattern element in the name contains the unique identity number of the account or website it relates to.
_gid	1 day	Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously.
browser_id	5 years	This cookie is used for identifying the visitor browser on re-visit to the website.
WMF-Last-Access	1 month 18 hours 11 minutes	This cookie is used to calculate unique devices accessing the website.

Free Download

Health Spa Business Plan Template

Download this free health spa business plan template, with pre-filled examples, to create your own plan..

Or plan with professional support in LivePlan. Save 50% today

Available formats:

What you get with this template

A complete business plan.

Text and financials are already filled out and ready for you to update.

• SBA-lender approved format

Your plan is formatted the way lenders and investors expect.

Edit to your needs

Download as a Word document and edit your business plan right away.

• Detailed instructions

Features clear and simple instructions from expert business plan writers.

All 100% free. We're here to help you succeed in business, no strings attached.

Get the most out of your business plan example

Follow these tips to quickly develop a working business plan from this sample.

1. Don't worry about finding an exact match

We have over 550 sample business plan templates . So, make sure the plan is a close match, but don't get hung up on the details.

Your business is unique and will differ from any example or template you come across. So, use this example as a starting point and customize it to your needs.

2. Remember it's just an example

Our sample business plans are examples of what one business owner did. That doesn't make them perfect or require you to cram your business idea to fit the plan structure.

Use the information, financials, and formatting for inspiration. It will speed up and guide the plan writing process.

3. Know why you're writing a business plan

To create a plan that fits your needs , you need to know what you intend to do with it.

Are you planning to use your plan to apply for a loan or pitch to investors? Then it's worth following the format from your chosen sample plan to ensure you cover all necessary information.

But, if you don't plan to share your plan with anyone outside of your business—you likely don't need everything.

More business planning resources

How to Write a Business Plan

10 Qualities of a Good Business Plan

How to Write a Business Plan for Investors

Business Plan Template

Simple Business Plan Outline

How to Create a Business Plan Presentation

Industry Business Planning Guides

How to Start a Business With No Money

Download your template now

Need to validate your idea, secure funding, or grow your business this template is for you..

• Fill-in-the-blank simplicity
• Expert tips & tricks

We care about your privacy. See our privacy policy .

Not ready to download right now? We'll email you the link so you can download it whenever you're ready.

Download as Docx

Download as PDF

Finish your business plan with confidence

Step-by-step guidance and world-class support from the #1 business planning software

The quickest way to turn a business idea into a business plan

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

No thanks, I prefer writing 40-page documents.

Discover the world’s #1 plan building software

• Customer Reviews
• Net 30 Account
• Wise Services
• Steps & Timeline
• Work at a Glance
• Market Research at a Glance
• Business Plan Writing Services
• Bank Business Plan
• Investor Business Plan
• Franchise Business Plan
• Cannabis Business Plan
• Strategic Business Plan
• Corporate Business Plan
• Merge and Acquisition Business Plan (M&A)
• Private Placement Memorandums (PPM)
• Sample Business Plans
• Professional Feasibility Study
• PowerPoint Presentations
• Pitch Deck Presentation Services
• Business Plan Printing
• Market Research
• L-1 Business Plan
• E-2 Business Plan
• EB-5 Business Plan
• EB-5 Regional Centers
• Immigration Attorneys
• Nonprofit Business Plan
• Exit Business Planning
• Business Planning
• Business Formation
• Business License
• Business Website
• Business Branding
• Business Bank Account
• Digital Marketing
• Business Funding Resources
• Small Business Loans
• Venture Capital
• Net 30 Apply

Medical Spa Business Plan Template

Whether you want to start your own medical spa business or expand an existing one, you need a business plan. the following medical spa business plan template lets you know what elements you need to include in a successful medical spa business plan., fill the form to download business plan templates.

To ensure your medical spa business success in this highly competitive market, you need a properly structured medical spa business plan. With over 12 years of experience, we have helped over 5,000 entrepreneurs create business plans to start and grow their medical spa businesses. Using the following medical spa business template, you can put together an effective business plan for medical spa.

Things to Know Before Writing an Medical Spa Business Plan

According to AmSpa 2022 Medial Spa industry report , the industry GDP is $15 billion and it employs about 70,000 people.

There are a total of 8,841 medical spas in the nation. Out of these, 81% only operate one location and only 19% have more than one location. The average annual revenue per spa is $1,982,896. The single-location medical spas earned an average monthly revenue of $121,632 in 2021.

The medical spa industry is booming industry. It is time to make money in the industry. Every medical spa receives an average of 283 non-surgical aesthetic patient visits per month and the average spend per patient per visit is $536. The industry has an exceptionally high percentage of repeat customers at 65%.The majority of medical spa customers, 88%, are women.

You can become a successful medical spa business person even if you are not an MD; 63% of the medical spa owners are non-MDs. The industry is experiencing exceptional growth with 17% of new medical spas opening in 2021.

Among the major products and services offered in this industry include:

• Laser treatments
• Botox injectables
• Chemical peels
• Acne treatments
• Microneedling
• Laser hair removal

Key Success Factors for the Medical Spa Business

With the help of IBISWorld industry report , We have identified these factors to be vital for becoming successful in the medical spa industry.

• Close to Key Markets : You will need to establish your medical spa closer to target customer markets. In this case, a downtown location is better than a suburban location.
• Develop a Loyal Customer Base: Since most customers are repeat customers in the industry, a great customer experience will cause the word of mouth referrals. A loyal customer base is necessary to grow in this industry.
• Business Expertise of the Operators: The skill quality and experience of your staff are critical to the success of a medical spa business. Hire experienced staff or invest in their training.
• Offer a Range of Services: Medical spas generally offer a range of services. When you can offer a variety of services at your medical spa, your success chances increase.

Need a Professional Business Plan Writer for Your Medical Spa Business?

Hire Wise Business Plans Now

What is a Med Spa Business Plan?

A medspa business plan is a road-map for starting and growing your medical spa business. Your business plan outlines your business concept, identifies your target customers, presents your marketing strategy, and details your financial projections.

Any bank or investor you approach will require a med spa business plan, so putting one together will be critical to securing funding.

In short, writing a business plan can help you succeed if you’re thinking of starting a medical spa business or pitching to investors or venture capitalists.

Why You Need a Medical Spa Business Plan

Medical Spa business plans can be used to gain interest from potential investors or to secure loans from banks. They are also helpful to you as the owner. A medical spa business plan allows you to thoroughly analyze every aspect of your potential business.

A solid, detailed plan gives you a clear path to follow, forces you to examine the viability of a medical spa business idea, and may help you better understand your company’s finances and competition.

Med spa business owners who have a business plan grow 35% faster than those who don’t, and 75% of fast-growing businesses have one.

A medspa business plan is a living document that should be updated annually as your company grows and changes.

Free: Business Plan Examples

Do you need help creating a business plan? Check out these six free, proven business plan examples from different industries to help you write your own.

Sources of Medical Spa Funding

A medical spa is a high-investment business. There are some specialized financing options for the medical spa industry that offer equipment financing.

Start with SBA loans when you are looking for funding for your medical spa business.

Also, look into term loans from alternative lenders like ForaFinancials. A term loan is an amount you borrow for a certain period (like 2-5 years). These loans are flexible and you can secure a loan of up to $80,000.

Many credit cards come with a high credit limit and if you don’t have a cash flow problem, you can raise money with credit cards.

You can also get funding with merchant cash advances if your business accepts credit card payments.

How to Write a Medical Spa Business Plan

To write a medical spa business plan, you don’t need to be an expert. Our step-by-step guide will show you how to write a med spa business plan, or you can just download our proven business plan sample pdf  to get a better idea.

Medical Spa Business Plan PDF and Word

Download our medical spa business plan in PDF and Word here.

Executive Summary

The executive summary is the most important part of the document since it outlines the whole business plan. Despite the fact that it appears first in the plan, write the executive summary last so you may condense key concepts from the other nine parts.

It’s a part that catches the investor’s eye and provides key information about your company’s overview and upcoming short- and long-term goals.

Tell them what kind of medical spa business you have and what stage you’re in; for example, are you a startup, do you have a medial spa that you want to expand, or do you have a lot of medical spas?

Finally, an executive summary should provide investors with a preview of what they may expect from the rest of your document.

• Provide a high-level overview of the medical spa industry
• The name, location, and mission of your medical spa business
• A description of your medical spa business, including management, advisors, and a brief history
• Discuss the type of medical spa business you are operating, Give an overview of your target customers., and how your company differs from competitors in the industry
• Create a marketing plan that describes your company’s marketing strategies, sales, and partnership plans.
• And give an overview of your financial plan

Check out these executive summary examples to help you write a perfect one for your medical spa business plan.

Free: Executive Summary Examples

An executive summary is the most important part of your business plan, and it need not be challenging to write. This is why we have put together some awesome free Executive Summary examples for you.

Company Analysis

• Company summary:
• Company history: When and why did you start your medical spa business?
• What milestones have you achieved so far? Among the milestones might be the number of medical spa number of customers and locations, growth year over year, etc.
• Legal structure and ownership: Do you have S-Corp status? Is it an LLC ? A sole proprietorship ? Describe your legal structure.
• Mission statement: An overview of your medical spa’s guiding principles. Learn how to write a perfect mission statement .

Industry Analysis

Provide a brief overview of the medical spa industry in your industry analysis. This may seem unnecessary, but it serves multiple purposes.

First, researching the medical spa industry will educate you. It gives you an understanding of the market in which you are operating. Secondly, market research can improve your strategy, especially if it identifies market trends.

Third, market analysis shows readers you are an expert within your field. Conducting research and presenting it in your plan is the most efficient way to accomplish this.

Industry analysis can be presented as a 8-step process when written as part of a company’s business plan.

• Give a quick overview of the medical spa industry. Define the medical spa business in terms of size (in dollars), historical background, service region, and products.
• Examine previous trends and growth patterns in the medical spa industry.
• Identify the market’s major competitors.
• Age, gender, and general lifestyle of the targeted market
• Determine the factors that have an impact on the medical spa industry. These might include government regulatory rules and other businesses’ competitive activities.
• Using research data, the industry forecast expected growth over the next five to ten years. Predictions should be made for both the long and short term.
• Describe how your medical spa business intends to position itself in the industry. Concentrate on how your medical spa business can benefit from opportunities highlighted in the industry.

Customer Analysis

The customer analysis section is an important part of any medical spa business plan since it evaluates the consumer segments that your company serves. It identifies target customers, determines what those customers want, and then explains how your medical spa services will meet those requirements.

Customers can be categorized into the following segments:

• Working women
• Professionals Residing in Area
• Affluent millennials
• People cautious about their looks

Customer analysis may be divided into two parts: Psycho-social profiles (why your medical spa services suits a customer’s lifestyle) and Demographic profiles (descriptions of a customer’s demographic qualities).

With regards to demographics, include information about: the ages, genders, locations, and income levels of your customers. When targeting businesses, describe what kind of business, size, and location your target customers are.

The psychological profiles of your target clients reveal their wants and needs. The better you understand and identify these demands, the better your chances of attracting and retaining customers will be.

Looking for Professional Business Plan Writing Services for Your Medical Spa Business?

Hire us Now!

Competitor Analysis

It is necessary to do a competitor analysis. Because you may use their data to define your goals, marketing plans, tactics, new product lines, pricing, and more. Use competitor analysis to:

• Identify the strength and weakness of your medical spa business competitors.
• Search for opportunities to distinguish your medical spa business from competitors.

The first step is to determine who your direct and indirect competitors are.

The direct competitors consists of other medical spa businesses that offer essentially the same services to the same people as you do.

The indirect competitors are beauty salons, dermatologists, skin care specialists, massage parlors, and unconventional healing centers like yoga, etc. Since such competitors offer the similar value to your business, your customers decide on who should they visit. You can compete with them with good marketing or offering a wide range of services.  

Once you’ve identified the competition, concentrate on the direct, head-to-head competitors, since they are the most threatening to your medical spa business— but keep an eye on the indirect competition as well, just in case.

Provide an overview of each direct competitor’s business and detail their strengths and weaknesses.

You will be able to position yourself competitively in the market if you perform proper competition research. Perform a SWOT Analysis to learn your competitors’ strengths, weaknesses, and competitive advantages in the following areas:

• Prices – Are they offering cheaper medical spa services/products or more costly than you and other competitors, what value do buyers get for that price?
• Quality – Are they offering premium medical spa services/products, the perceived worth in the eyes of the customers
• Customer service – How they respond to their consumers, whether they treat them poorly or well, and the degrees of satisfaction customers show
• Reputation — The sum of everything mentioned above: their credibility, how loved the brand is, and the loyalty of their customers

The final section of your competitive analysis should include a list of your areas of competitive advantage. for example: Are you going to offer premium medical spa services/products? Do you offer medical spa service that your competitors do not? Will you offer better pricing or will you offer greater customer support?

Consider how you will outperform your competitors and include them in this portion of your medical spa business plan.

Free: SWOT Analysis Examples

Take advantage of our free SWOT analysis examples. Make your business future-proof by identifying your strengths, weaknesses, opportunities, and threats using this free SWOT Analysis Template.

Marketing Plan

Creating a marketing plan for a medical spa business involves identifying the target demographic and offering their services that their preferences.

As part of your marketing plan for a medical spa business, you should include:

Pricing and Product Strategy

Your medical spa business must offer skin care and wellbeing services that are different, unique and eye catching from those of your competitors. Research what your competitors offer and how they price their medical spa services. The better your range of services and your tools and processes for the spa services is, the more successful your medical spa will be. 

Placing and Promotions

Place refers to the location of the medical spa. Describe how your location might attract customers. As an example, is your medial spa in a downtown area, or near to a resort or a beautiful picnic point with a great view. Since women are majority of the customers for a medical spa business, are you located near a shopping mall or inside the mall where women go shopping. 

Promoting your medical spa business is the final part of your marketing plan. In this step, you document how you will drive customers to buy your services. A few marketing methods you could consider are:

• Pre-Opening Events
• Local TV and Newspaper Ads
• Social media marketing
• Get referrals from current clients
• Optimize your Google My Business listing
• Reaching out to local bloggers and websites
• List your business on industry-specific sites
• Community Outreach

You should also think about your medical spa’s Unique Selling Proposition (USP), which should explain why clients should choose you over other medical spas or skin care clinics. Ensure that your USP is reflected in your marketing.

Read Later: How to create a marketing plan in a business plan.

Operations Plan

While the previous sections described your goals, your operational plan in a business plan discusses how you will achieve them.

An operations plan is helpful for investors, but it’s also helpful for you and employees because it pushes you to think about tactics and deadlines.

Your operations plan should be divided into two individual parts, as seen below.

Your daily short-term processes include all the tasks involved in running a medical spa business, including hiring and training employees and administering the business. etc.

Your long-term goals are the milestones you hope to reach. It may include the date when you hope to lease the facility or remodel the facility: or when you hope to reach $X in revenue.

Management Team

The management team section in a business plan ‘ outlines your management team, staff, resources, and how your business ownership is structured.

This part may be easily organized by dividing it into the following points:

Ownership Structure

Internal Management Team

External Management Resources

Human Resources

This section outlines your medical spa’s legal structure. If your company is a sole proprietorship , it may simply be one phrase. It might be longer if your company is a partnership or a corporation . You should make it a point to clarify who owns what part of the business.

This section should not only outline who is on your management team but also how each person’s skill set and experiences will contribute to the growth of your medical spa business. Ideally, you and/or your team members have direct expertise in the medical spa business. If this is the case, highlight your experience and skills.

Think of these external management resources as your internal management team’s backup. Consider forming an advisory board if your team is lacking expertise and experience with medical spa business.

An advisory board would consist of 3 to 7 people who would serve as mentors to your medical spa. They would assist in answering queries and providing strategic direction.

If necessary, search for advisory board members with expertise running medical spa business.

Describe all of your company’s external professional advisers, such as accountants, bankers, attorneys, IT experts, business consultants, and/or business coaches. 

The final topic to consider in the management area of your medical spa business plan is your human resource needs.

Financial Plan

As part of your financial plan, you should present a 5-year financial statement broken down monthly or quarterly for the first year, and then annually. Financial statements include your income statement, balance sheet, and cash flow statement.

Income Statement

A profit and loss statement is more commonly called an income statement. It shows your revenue and subtracts your expenses to determine whether you were profitable or not.

As you develop your income statement, you need to develop assumptions. Will you serve 30 patients per day or 200? Will sales grow by 2% or 10% per year? Your choice of assumptions will greatly impact your business’s financial forecasts. Conduct as much research as possible in order to ground your assumptions in reality.

Free: Income Statement Template

Create a financial statement for your business by downloading our free income statement templates.

Balance Sheet

While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities.

The balance sheet shows your medical spa business’s net value at a specific point in time. It categorizes all of your company’s financial data into three categories:

• Assets: Tangible goods with the monetary worth that the company owns.
• Liabilities: Debt owing to a company’s creditor.
• Equity: The net difference when the total liabilities are subtracted from the total assets.

The equation that expresses the relationship between these financial data elements is Assets = Liabilities + Equity.

Create a pro forma balance sheet for your medical spa business plan that highlights the information in the income statement and cash flow projections. A balance sheet is normally prepared once a year by a company.

Balance sheets indicate your assets and liabilities, and while they contain a lot of information, they are simplified to highlight the most important things you need to know.

For example, spending $200,000 to build out your medical spa business will not result in instant revenues. Rather, it is an asset that should help you earn money for many years to come.

Similarly, if a bank sends you a check for $200,000, you do not have to pay it back right now. Rather, that is a liability that you will repay over time.

Cash Flow Statement:

Your cash flow statement will help you determine how much money you need to start or grow your medical spa business. 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 business:

• Design fees, construction, and other costs associated with location development.
• Cost of equipment like display cases, computers, and software
• The cost of maintaining spa and machines
• Staff payroll or salaries
• The total cost of insurance coverage (general liability, workers’ compensation, and property casualty)
• Start-up inventory costs

Pro Tips: Learn how to write a financial plan in a business plan to help you write a winning medical spa business plan.

Free: Balance Sheet Template

Create a financial statement for your business by downloading our free balance sheet templates.

List any additional material you cannot include elsewhere, such as resumes from key employees, licenses, equipment leases, permits, patents, receipts, bank statements, contracts, and personal and business credit histories.

Attach your full financial projections along with any supporting documents that make your plan more compelling in the appendix.

Bonus Tip: Learn how to write a business plan appendix for your medical spa business.

Looking to Build Business Credit for Your Medical Spa?

Build your business credit quickly with an easy approval net 30 account from Wise Business Plans. Or check out the top 10 net 30 vendors to find the best one for you to help build your business credit .

Summary of the Medical Spa Business Plan

A medical spa plan is a worthwhile investment. As long as you follow the template above, you will become an expert in no time. By following the template, you will understand the medical spa business, your competition, and your customers. The plan will help you understand the steps necessary to launch and grow your medical spa business.

Do you want to Finish Your Medical Spa Business Plan in less the one day?

Wouldn’t it be nice if your business plan could be completed faster and easier?

With wise business plans Business Plan Template , you can finish your medical spa business plan in just 6 hours or less with a 30-Day Money-Back Guarantee!

OR, we can create your medical spa business plan for you

Since 2010, Wise business plans’ MBA professional business plan writers has developed business plans for thousands of companies that have experienced tremendous success.

Download Our Medical Spa Business Plan Template

We will show you some real-world business plan examples so you may know how to write your own, especially if you are seeking a bank loan or an outside investment and need to use SBA-approved formatting.

Get in Touch

Contact us today for a free consultation, quick links.

• Investor Business Plans
• M&A Business Plan
• Private Placement
• Feasibility Study
• Hire a Business Plan Writer
• Business Valuation Calculator
• Business Plan Examples
• Real Estate Business Plan
• Business Plan Template
• Business Plan Pricing Guide
• Business Plan Makeover
• SBA Loans, Bank Funding & Business Credit
• Finding & Qualifying for Business Grants
• Leadership for the New Manager
• Content Marketing for Beginners
• All About Crowdfunding
• EB-5 Regional Centers, A Step-By-Step Guide
• Logo Designer
• Landing Page
• PPC Advertising

• Business Entity
• Business Licensing
• Virtual Assistant
• Business Phone
• Business Address
• E-1 Visa Business Plan
• EB1-A Visa Business Plan
• EB1-C Visa Business Plan
• EB2-NIW Business Plan
• H1B Visa Business Plan
• O1 Visa Business Plan
• Business Brokers
• Merger & Acquisition Advisors
• Franchisors

Proud Sponsor of

• 1-800-496-1056

• (613) 800-0227

• +44 (1549) 409190

• +61 (2) 72510077

Medical Spa Business Plan Template & Guidebook

How to write a medical spa business plan in 7 steps:, 1. describe the purpose of your medical spa business..

It also helps to include a vision statement so that readers can understand what type of company you want to build.

2. Products & Services Offered by Your Medical Spa Business.

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

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. 

Target market

Customer base , product or service description, competitive analysis, marketing channels, form an llc in your state, 4. write your operational plan., what equipment, supplies, or permits are needed to run a medical spa business, 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.

6. Medical Spa Business Startup Expenses & Captial Needed.

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.

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

Here are some steps you can follow to devise a financial plan for your medical spa business plan:

Frequently Asked Questions About Medical Spa Business Plans:

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

Related business plans, home inventory business plan template & guidebook, home inspection business plan template & guidebook, home decor business plan template & guidebook, health and wellness business plan template & guidebook, hauling business plan template & guidebook, hardware business plan template & guidebook, handyman business plan template & guidebook, hair extension business plan template & guidebook, handbag business plan template & guidebook.

I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

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.

Join Today!

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.

Suggested for You

• Chiropractic Clinic Business Plan [Sample Template]
• Medical Equipment Retail Shop Business Plan [Sample Template]
• Teeth Whitening Business Plan [Sample Template]
• Eye Surgery Equipment Maker Business Plan [Sample Template]
• Dental Laboratory Business Plan [Sample Template]

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

Medical Spa Business Plan

Written by Elma Steven | Updated on April, 2024

How to Write a Medical Spa Business Plan?

Medical Spa Business Plan is an outline of your overall business. The business plan includes 5 year projection, marketing plan, industry analysis, organizational overview, operational overview and finally the executive summary. Remember to write your executive summary at the end as it is considered as a snapshot of the overall business plan. The creation of a business plan requires careful consideration of various factors that might impact the business’s success. Ultimately the plan serves as a roadmap to guide the company’s direction.

Table of Contents

Executive summary.

Overview: Luxe Aesthetic Facility, which first opened its doors in 2006, has swiftly established itself as North Orange County’s top aesthetic facility. We provide men and women with the most up-to-date and advanced treatment options for skin rejuvenation and improved appearance. We started to provide honest, ethical, and high-quality services. Our private and intimate location allows our patients to relax and forget their worries. Medical aestheticians and experienced practitioners collaborate with you to achieve your ideal beauty objectives. We try to make you feel and look your best by specializing in results-oriented skincare treatments targeted to your specific lifestyle.

Mission: Luxe Aesthetic Center’s mission is to enhance our customers’ health and wellbeing by using proven, safe, and effective products and technology.

Vision: Our goal is to be the community’s leading beauty and skincare center by delivering outstanding, consistent skincare and health promotion via education and practice.

Financial Overview:

Industry Overview :

In 2022, the global market for industry was worth USD 16.4 billion. From 2023 to 2030, it is projected to grow at a compound annual growth rate (CAGR) of 14.97%. The market is growing because people are becoming more aware of self-care and anti-aging services, and the health tourism industry is growing quickly. The American Med Spa Association (AMSA) says that there is a high demand for minimally invasive treatments like chemical peels and non-surgical skin shaping, as well as body modeling and tattoo removal. Also, hotels that offer health deals are making wellness-themed holidays very popular.

Check out this guide on  how to write an executive summary?  If you don’t have the time to write on then you can use this  custom Executive Summary Writer  to save Hrs. of your precious time.

Business Description

Business Name:  

Founder : Jacob Harris

Management Team:

Legal Structure:  LLC

Location:  

Goals: 

✅ To offer a wide range of high-quality, results-driven treatments and services that are safe and effective.

✅ To create a relaxing and luxurious environment that promotes relaxation and healing.

✅ To continually educate our team on the latest technologies and techniques in the industry.

✅ To provide personalized care and exceptional service to each and every one of our clients.

Products: 

✅ Aesthetic Treatments

✅ Skincare Products

✅ Spa Packages

Download Free Business Plan Template

Write a plan in just 2 days!

Financial Overview

Fund usage plan.

Key Metrics

Business Model Canvas

Check out  100 samples of business model canvas .

Check out the  100 SWOT samples  which will give you a better idea on SWOT writing process.

Organizational Overview

This outlines the ownership structure, roles, responsibilities of key management personnel, and the reporting hierarchy within the organization. This section offers stakeholders, investors and other readers a clear understanding of the company’s leadership and its chain of command. Additionally, it may give insight into the company’s culture, values and operational philosophy.

An extremely popular business is run by Jacob Harris, an experienced businessman with a strong interest in health and beauty. Jacob’s strong educational background and long list of accomplishments make him a priceless asset to his project and guarantee its success.

By combining his extensive training in aesthetic medicine with a deep understanding of the newest beauty trends, Jacob is able to provide excellent skin care and restoration services. His schooling and work experience in the field have polished his ability to give his clients customized and effective solutions.

Jacob’s past accomplishments show how dedicated he is to customer happiness and success. He has built a high-quality spa that provides many cutting-edge services, such as anti-aging and skin care treatments, body shaping, and health services. As a result of his guidance, the spa has gotten great reviews for its helpful staff, cutting-edge technology, and remarkable outcomes.

Jacob continues to learn and stay ahead of the curve in his field by actively seeking out advanced training and licenses. As a result, he can give the newest methods and services at his spa. By working with trustworthy professionals in the field and spending money on high-quality tools, Jacob makes sure that his Medical Spa stays a popular spot for people looking for the best healing and beauty services.

Staff Salaries

Management & Operations:

Marketing & Sales:

Spending on Finance & Accounting:

Industry Analysis

By 2028, the worldwide market will be worth USD 36.8 billion. From 2021 to 2028, the market is projected to grow at a 14.3% CAGR. One of the primary drivers of the market is the growing desire for non-invasive cosmetic treatments. The increased need for dermal fillers and the strong impact of social media among millennials are driving the demand for market. Spa treatments have become more expensive due to technological improvements like laser systems. For example, the average cost of laser skin resurfacing operations grew by almost 15.0 percent in 2016.

Problems & Opportunities

High startup costs: the industry often incur high costs related to purchasing and maintaining advanced technology and equipment, as well as offering a wide range of services. These costs may be difficult to sustain if the business is not generating sufficient revenue .

Dependence on a physical location: industry players are often reliant on a physical location for providing services, which can limit accessibility for some customers and make the business vulnerable to issues such as natural disasters or pandemics.

Regulatory and legal issues: the industry is subject to various regulatory and legal requirements, such as obtaining licenses and permits, complying with privacy laws, and adhering to industry standards. Failure to comply with these requirements can lead to legal and financial problems for the business.

High demand: The demand for non-invasive aesthetic treatments has been increasing in recent years. As people become more aware of the options available to them and the potential benefits of these treatments, they may be more likely to seek out spa services.

Ability to leverage technology: it can leverage the latest technologies, such as laser treatments and advanced skin care products, to offer cutting-edge treatments to their clients.

Ability to adapt to changing client needs: The demand for non-invasive cosmetic procedures can change over time, and spas that are able to adapt and offer the latest treatments can stay ahead of the competition.

Target Market Segmentation

Geographic Segmentation: we are planning to start with certain locations across [targeted locations]. 

Demographic Segmentation: 

Age: Younger customers might be more interested in treatments that address acne and other skin problems, while older customers might be more interested in treatments that address signs of aging such as wrinkles and sagging skin.

Gender: A business might cater to both men and women, or it might focus on one gender in particular. For example, a business might offer treatments such as laser hair removal or Botox that are more commonly sought by women, or it might offer treatments such as beard transplants or hair restoration that is more commonly sought by men ( Grandview Research ).

Income: Higher-income customers might be willing to pay more for premium treatments and services, while lower-income customers might be more price-sensitive.

Education: Customers with higher levels of education might be more interested in learning about the latest treatments and technologies, while less educated customers might be more focused on the practical benefits of the treatments.

Occupation: Customers with busy, high-stress jobs might be more interested in treatments that help them relax and de-stress, while customers with more leisurely lifestyles might be more interested in treatments that help them look and feel their best.

Psychographic Segmentation: 

Personality: Customers who are concerned about their appearance and are willing to invest in their personal grooming might be more likely to use a spa.

Values: Customers who place a high value on self-care and wellness might be more likely to use the services.

Attitudes: Customers who have a positive attitude towards treatments might be more likely to use a medical spa, while customers who have a negative attitude might be less likely to use a medical spa.

Interests: Customers who are interested in fashion, beauty, and personal grooming might be more likely to use a medical spa, while customers who are less interested in these things might be less likely to use a medical spa.

Lifestyle: Customers with busy, high-stress lifestyles might be more likely to use a medical spa as a way to relax and de-stress, while customers with more relaxed, leisurely lifestyles might be more likely to use a medical spa as a way to maintain their appearance.

Source: Global Newswire

Market Size

Total Addressable Market: TAM refers to the total demand for a product or service in a specific market. It represents the entire market size without any limitations, assuming there are no constraints or barriers to adoption. TAM represents the maximum revenue opportunity available for a product or service if it were to capture 100% market share. Suppose the business is located in a metropolitan area with a population of 1 million people.). So, our TAM is $1M.

Serviceable Addressable Market: SAM represents the portion of the TAM that a business can realistically target and serve. It takes into account factors such as geographical limitations, target customer segments, and other constraints that may affect the business’s ability to reach the entire market. SAM represents the market segment that aligns with the business’s value proposition and is accessible to the company.  Let’s estimate that the business can effectively reach 20% of the potential market, then our SAM is $200K.

Serviceable Obtainable Market: SOM is an even smaller subset of the SAM and represents the portion of the SAM that a company can realistically capture or obtain. It considers the market share that a company can actually achieve in its target market given its strategies, competition, and other factors. Estimate that the business aims to capture 10% of the SAM. So, the estimated SOM is $20K.

High startup costs

Medical spas often incur high costs related to purchasing and maintaining advanced technology and equipment, as well as offering a wide range of services. These costs may be difficult to sustain if the business is not generating sufficient revenue .

Geographic Segmentation

We are planning to start with certain locations across [targeted locations].

Demographic Segmentation

Age: Younger customers might be more interested in treatments that address acne and other skin problems. On the other hand, older customers might be more interested in treatments that address signs of aging such as wrinkles and sagging skin.

Psychographic Segmentation

Values: Customers who place a high value on self-care and wellness might be more likely to use a medical spa, while customers who value affordability and practicality might be less likely to use a medical spa.

P ersonality: Customers who are concerned about their appearance and are willing to invest in their personal grooming might be more likely to use a medical spa, while customers who are less concerned about their appearance might be less likely to use a medical spa.

Behavioral Segmentation

Occasion: Customers who use medical spas on a regular basis might be more likely to use medical spas that offer loyalty programs or discounts for frequent users, while customers who use medical spas less frequently might be more likely to use medical spas that offer one-time services or package deals.

Benefits sought: Customers who value convenience might be more likely to use medical spas that offer mobile or home services, while customers who value a luxurious experience might be more likely to use medical spas that offer a range of amenities such as massage or sauna.

Marketing Plan

It includes specific tactics and channels the business will use to reach potential customers. This section defines the company’s unique value proposition, identifies the target market segments, and discusses the competitive landscape. It also includes insight into budget allocation, projected outcomes and key performance indicators to measure success. Marketing plan helps businesses demonstrate their understanding of the market dynamics, their positioning within the industry and their approach to driving customer engagement and sales.

Income Statement

Balance Sheet

Cash Flow Statement

Relevant Links:

Small Business Grant for Business Owners in 2024

Business Registration Complete Process in USA

How to Avoid a Business Failure: Create a Successful Business

Download the Business Plan

Just Fill Up & Print

40% Off All At Home Products! Ends Monday 7/22 at Midnight!

Search site

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

Gross Margin	$406,400	$550,500	$746,750
Salaries & Wages	$204,000	$210,120	$216,424
Employee Related Expenses	$40,800	$42,024	$43,285
Marketing	$34,000	$45,000	$60,000
Rent	$48,000	$48,000	$48,000
Utilities	$3,600	$3,600	$3,600
Internet / Telephone	$1,800	$1,800	$1,800
Office Supplies	$3,225	$4,000	$5,000
Malpractice Insurance Full time	$6,000	$6,000	$6,000
Medical Supplies	$5,525	$6,500	$7,500
Janitorial	$6,000	$6,000	$6,000
General Liability Insurance	$4,800	$4,800	$4,800
Interest Incurred Depreciation and Amortization	$61,000	$61,000	$61,000
Income Taxes	$0	$19,861	$56,668

Projected Balance Sheet

Cash	($370,350)	($212,027)	$84,256
Accounts Receivable	$0	$0	$0
Inventory Other Current Assets
Long-Term Assets	$419,000	$419,000	$419,000
Accumulated Depreciation	($61,000)	($122,000)	($183,000)
Accounts Payable	$0	$0	$0
Income Taxes Payable	$0	$5,528	$14,138
Sales Taxes Payable Short-Term Debt Prepaid Revenue
Long-Term Debt
Paid-In Capital Retained Earnings		($12,350)	$79,445
Earnings	($12,350)	$91,795	$226,673

Projected Cash Flow Statement

Net Profit	($12,350)	$91,795	$226,673
Depreciation & Amortization	$61,000	$61,000	$61,000
Change in Accounts Receivable	$0	$0	$0
Change in Inventory Change in Accounts Payable	$0	$0	$0
Change in Income Tax Payable	$0	$5,528	$8,610
Change in Sales Tax Payable Change in Prepaid Revenue
Assets Purchased or Sold	($419,000)
Investments Received Change in Long-Term Debt Change in Short-Term Debt Dividends & Distributions
Cash at Beginning of Period	$0	($370,350)	($212,027)
Net Change in Cash	($370,350)	$158,323	$296,283

Profit and Loss Statement (With monthly detail)

Gross Margin	$13,100	$18,850	$23,950	$27,600	$30,700	$34,050	$33,300	$33,400	$39,300	$44,950	$50,350	$56,850

Operating Expenses

Salaries and

Wages	$17,000	$17,000	$17,000	$17,000	$17,000	$17,000	$17,000	$17,000	$17,000	$17,000	$17,000	$17,000
Employee Related Expenses	$3,400	$3,400	$3,400	$3,400	$3,400	$3,400	$3,400	$3,400	$3,400	$3,400	$3,400	$3,400
Marketing	$2,500	$2,500	$2,500	$2,500	$2,500	$2,500	$3,000	$3,000	$3,000	$3,000	$3,500	$3,500
Rent	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000
Utilities	$300	$300	$300	$300	$300	$300	$300	$300	$300	$300	$300	$300
Internet / Telephone	$150	$150	$150	$150	$150	$150	$150	$150	$150	$150	$150	$150
Office Supplies Malpractice	$200	$225	$225	$250	$250	$250	$275	$300	$300	$300	$325	$325
Insurance Full time	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500
Medical Supplies	$1,000	$300	$300	$350	$400	$400	$425	$425	$425	$450	$500	$550
Janitorial	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500
General Liability	$400	$400	$400	$400	$400	$400	$400	$400	$400	$400	$400	$400

Interest Incurred Depreciation and Amortization	$5,083	$5,084	$5,083	$5,083	$5,084	$5,083	$5,083	$5,084	$5,083	$5,083	$5,084	$5,083
Income Taxes	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0

                                                                                                                     2019                                                              2020                                                              2021

Gross Margin	$406,400	$550,500	$746,750
Salaries and Wages	$204,000	$210,120	$216,424
Employee Related Expenses	$40,800	$42,024	$43,285
Marketing	$34,000	$45,000	$60,000
Rent	$48,000	$48,000	$48,000
Utilities	$3,600	$3,600	$3,600
Internet / Telephone	$1,800	$1,800	$1,800
Office Supplies	$3,225	$4,000	$5,000
Malpractice Insurance Full time	$6,000	$6,000	$6,000
Medical Supplies	$5,525	$6,500	$7,500
Janitorial	$6,000	$6,000	$6,000
General Liability Insurance	$4,800	$4,800	$4,800
Interest Incurred Depreciation and Amortization	$61,000	$61,000	$61,000
Income Taxes	$0	$19,861	$56,668

Balance Sheet (With Monthly Detail)

Cash	($435,850)	($446,275)	($451,600)	($453,350)	($452,050)	($447,400)	($444,050)	($440,625)	($431,300)	($416,350)	($396,575)	($370,350)
Accounts Receivable	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory Other Current Assets
Long-Term Assets	$419,000	$419,000	$419,000	$419,000	$419,000	$419,000	$419,000	$419,000	$419,000	$419,000	$419,000	$419,000
Accumulated Depreciation	($5,083)	($10,167)	($15,250)	($20,333)	($25,417)	($30,500)	($35,583)	($40,667)	($45,750)	($50,833)	($55,917)	($61,000)
Accounts Payable	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Income Taxes Payable	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Sales Taxes Payable Short-Term Debt Prepaid Revenue
Long-Term Debt

Paid-In Capital

Retained Earnings

Earnings	($21,933)	($37,442)	($47,850)	($54,683)	($58,467)	($58,900)	($60,633)	($62,292)	($58,050)	($48,183)	($33,492)	($12,350)

Cash Flow Statement (With Monthly Detail)

Net Profit	($21,933)	($15,509)	($10,408)	($6,833)		($3,784)	($433)	($1,733)	($1,659)	$4,242	$9,867	$14,691	$21,142
Depreciation & Amortization	$5,083	$5,083	$5,083		$5,083	$5,083	$5,083	$5,083	$5,083	$5,083	$5,083	$5,083	$5,083
Change in Accounts Receivable	$0	$0	$0		$0	$0	$0	$0	$0	$0	$0	$0	$0
Change in Inventory Change in Accounts Payable	$0	$0	$0		$0	$0	$0	$0	$0	$0	$0	$0	$0
Change in Income Tax Payable	$0	$0	$0		$0	$0	$0	$0	$0	$0	$0	$0	$0
Change in Sales Tax Payable Change in Prepaid Revenue

Investing &

Purchased or                  ($419,000)

Investments Received

Short-Term Debt

Dividends &

Distributions

Net Cash Flow

from Investing             ($419,000) & Financing

Cash at Beginning

of Period	$0	($435,850)	($446,275)	($451,600)	($453,350)	($452,050)	($447,400)	($444,050)	($440,625)	($431,300)	($416,350)	($396,575)
Net Change in Cash	($435,850)	($10,425)	($5,325)	($1,750)	$1,300	$4,650	$3,350	$3,425	$9,325	$14,950	$19,775	$26,225

Net Profit	($12,350)	$91,795	$226,673
Depreciation & Amortization	$61,000	$61,000	$61,000
Change in Accounts Receivable	$0	$0	$0
Change in Inventory Change in Accounts Payable	$0	$0	$0
Change in Income Tax Payable	$0	$5,528	$8,610
Change in Sales Tax Payable Change in Prepaid Revenue
Assets Purchased or Sold	($419,000)
Investments Received Change in Long-Term Debt Change in Short-Term Debt Dividends & Distributions
Cash at Beginning of Period	$0	($370,350)	($212,027)
Net Change in Cash	($370,350)	$158,323	$296,283

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.

Related Posts

Enter to Win a FREE Microneedling Pen!

We will pick a winner on the last day of each month.

By subscribing you are agreeing to our Terms and Conditions and to receive promotinal marketing

By clicking on submit, I agree to Face Med Store’s terms & conditions and privacy policy . By clicking the checkbox, you also give consent to Face Med Store to send SMS related to your interest. You may receive up to 3 messages per week. For HELP, text us at +1 347-519-1018. To unsubscribe, send STOP. Standard messages and data rates may apply.

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.

A Step-by-Step Guide on Opening a Medical Spa

Best Medical Spa Software for 2024

Increase Revenue with AestheticsPro's Medspa Management Software

How Telemedicine Enhances Medspa Software for Better Client Care

Mastering Medspa Software: Strategies for Employee Proficiency

Can Nurse Practitioners Legally Own a Medical Spa?

Maximizing Revenue: High-Margin Services in Medspas

Aesthetics Pro Guide

AestheticsPro - Bringing you 15 years of industry experience and resources to guide your practice to success."

Experience AestheticsPro

The industry leader in medical spa software.

> > OTDYKH Spa & Health 2018

14th International exposition and conference for wellness and medical travel
Dates: Tuesday, September 11, 2018 - Thursday, September 13, 2018
Venue: Expocentre Fairgrounds, ,
| |

The Medical Tourism, Spa & Health Conference is a highly professional event with the aim of the development of spa & health tourism in Russia and abroad. Within the Spa & Health Conference the experts have the possibility not only to listen to lectures of leading international speakers, but also to exchange their experiences, present their facilities and establish fruitful ties with colleagues and business partners. The Medical Tourism, Spa & Health Conference will expand the possibilities of both the conference and the international trade fair "OTDYKH Luxury" and intensify its efficiency.

Website:

			14 Krasnopresnenskaya naberezhnaya, Moscow Tel: +7-499-795 3799

Office 423, 4th floor, 35 Arbat Str., Moscow Tel: +7-495-925-6561/62 9/10/2019 - 9/12/2019 Moscow, Russia 9/8/2020 - 9/10/2020 Moscow, Russia 9/12/2023 - 9/14/2023 Moscow, Russia 9/24/2024 - 9/26/2024 Moscow, Russia Moscow, Russia 9/15/2015 - 9/18/2015 Moscow, Russia 7/19/2024 - 7/21/2024 Birmingham AL, United States 7/23/2024 - 7/24/2024 Los Angeles CA, United States 7/23/2024 - 7/25/2024 Las Vegas NV, United States 7/24/2024 - 7/26/2024 Seoul, South Korea 7/24/2024 - 7/26/2024 Seoul, South Korea ... Siren Project Services & Amenities Family Room Comfort Double Bed Room Comfort One Bedroom Suite With Balcony Larger Double Bed Room Property policies, property description. Number of Rooms: 6 Frequently Asked Questions How much does it cost to stay at siren project, what is the closest airport to siren project, what are the check-in and check-out times at siren project, does siren project provide airport transfer services, what amenities and services does siren project have, does siren project have a swimming pool, does siren project have fitness amenities, does siren project provide wi-fi, does siren project have non-smoking rooms, does siren project have a restaurant, about this property. Nearest Airport Vnukovo Airport Distance to Airport 34.53KM Nearest Train Station MTsK ZIL Distance to Train Station 29.71KM Nearest Subway Station Ulitsa Gorchakova Distance to Subway Station 7.67KM Hotel Star Rating 3 Recommendations Popular attractions, explore more. Mike Bloomberg donates $1 billion to cover Johns Hopkins medical school tuition for students Mike Bloomberg donated $1 billion to Johns Hopkins University. The gift will make tuition for medical school free for students with family incomes under $300,000. It'll also cover living expenses for students with family incomes under $175,000. Most medical students at Johns Hopkins University won't have to worry about student loans . On Monday, Johns Hopkins announced that Bloomberg Philanthropies, founded by the billionaire Michael Bloomberg , would donate $1 billion to make tuition free for medical students with family incomes under $300,000 a year, beginning this fall. Johns Hopkins said the gift would also allow it to cover living expenses for medical students with family incomes under $175,000 a year. It estimated that nearly two-thirds of current and incoming medical students would qualify for free tuition or free tuition and covered living expenses. "As the US struggles to recover from a disturbing decline in life expectancy, our country faces a serious shortage of doctors, nurses, and public health professionals — and yet, the high cost of medical, nursing, and graduate school too often bars students from enrolling," Bloomberg said. "By reducing the financial barriers to these essential fields, we can free more students to pursue careers they're passionate about — and enable them to serve more of the families and communities who need them the most," he added. The university said students eligible for the benefits would receive updated financial-aid packages this summer. Related stories Going to medical school can be costly — the Association of American Medical Colleges says it can leave borrowers with about $200,000 in student debt on average upon graduation. While medical jobs are typically high paying, a career isn't guaranteed. Borrowers can be left with six-figure balances that can surge because of high interest rates. Along with Johns Hopkins, other schools have received philanthropic donations to address high costs that can be barriers to pursuing further education. For example, Ruth Gottesman — the philanthropist and widow of David Gottesman, an early Berkshire Hathaway investor — donated $1 billion in Berkshire Hathaway stock to a medical school in the Bronx in February to cover its students' tuition. Some schools seeking to address high student-debt loads for their undergraduates have taken matters into their own hands. Princeton, Amherst, and Harvard are among a growing number of schools that have eliminated student loans from their financial-aid packages, shifting to grants that students don't need to repay. Monday's announcement will build on donations Johns Hopkins has received over the past few years to reduce student-debt loads for its graduates. The university said that through that aid, the average total student debt for medical-school graduates declined to about $105,000 in the 2023-24 academic year. Watch: Supreme Court strikes down Biden's student-debt relief plan Main content 174 IMAGES Medical Spa Business Plan Template [Updated 2024] Massage Therapy Business Plan Ultimate Medical Spa Business Plan Blueprint +Template PDF Medical Spa Business Plan 21+ SPA & Salon Business Plan Templates SPA Salon Business Plan VIDEO Increase Your Medical Spa Profit Med Spas: Why No One Buys Your Packages & Treatment Plans Industry Benchmarks for Med Spa Sales Events #medspa #medspamarketing #aesthetician #salesevent Scale Your Med Spa Business With Me 💸🔥 #medicalaesthetics #beautybusinesscoach Discover Johannesburg: Ultimate Travel Guide to South Africa's Vibrant Heart What Services In Med Spa Have Great Return On Investment COMMENTS Business Plan Template for Your Med Spa A detailed, well thought out business plan is an essential first step to building a med spa that is poised to thrive now and in the future. With our customizable medical spa business plan template, you'll be prompted to think about all the critical aspects of your business, from your launch strategy to your retail offers to staffing needs ... Ultimate Medical Spa Business Plan Blueprint +Template PDF Learn to write a Medical Spa business plan. Download our expertly crafted Med Spa business plan PDF template with 16 essential sections. 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 ... Medical Spa Business Plan (2024) 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. Med Spa Business Planning: A… If you are expanding your medical practice to include a spa and you have an existing clientele base that will support, begin with an Assumed Actual Capacity Rate of 20-35%. An average you could calculate is 4% growth per month. Goal to be met by the end of year one is 45% capacity. Medical Spa Business Plan Template (2024) 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 ... The 2024 guide to creating your medical spa business plan 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. Medical Spa Business Plan PDF Example March 5, 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. Free Health Spa Business Plan Template + Example Get the most out of your business plan example. Follow these tips to quickly develop a working business plan from this sample. 1. Don't worry about finding an exact match. We have over 550 sample business plan templates. So, make sure the plan is a close match, but don't get hung up on the details. Your business is unique and will differ from ... Medical Spa Business Plan Template 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. Medical Spa Business Plan Template With wise business plans Business Plan Template, you can finish your medical spa business plan in just 6 hours or less with a 30-Day Money-Back Guarantee! In addition, you can download our 300+ free business plan templates covering a range of industries. OR, we can create your medical spa business plan for you. The #1 Medical Spa Business Plan Template & Guidebook 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 ... How to Start a Med Spa Business 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. Health and Medical Spa Business Plan [Sample Template] 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 ... Medical Spa Business Plan [2024- Download Free Template] Medical Spa Business Plan is an outline of your overall Medical Spa business. The business plan includes 5 year projection, marketing plan, industry (+1) 9784800910, (+44) 020 3097 1639 [email protected ... Download Free Business Plan Template . Write a plan in just 2 days! Download. Financial Overview Fund Usage Plan. Key Metrics. Business ... PDF [Company Name] BUSINESS PLAN Sample from Growthink's Ultimate Medical Spa Business Plan Template: The Marketing Plan describes the type of brand [Company Name] seeks to create and the Company's planned promotions and pricing strategies. The [Company Name] Brand. The [Company Name] brand will focus on the Company's unique value proposition: Offering a convenient location. Spa Business Plan Sample [2024] This medical spa business plan template will also address all the other aspects involved in starting and successfully running a spa. ... Other Current Liabilities (interest-free) $0: TOTAL LIABILITIES: $74,000 : Capital : Planned Investment: $1,764,400: Investor 1: $0: Investor 2: $0: Other: $0: Additional Investment Requirement: $0: Sample Business Plan for Med Spa Startup-What You Need to Know! 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. Medical Spa Business Plan A medical spa business plan serves as a blueprint for developing a facility that combines spa services with medical knowledge. It prioritizes customer safety and satisfaction while outlining services, target market, and marketing methods. This plan integrates medical services in a friendly spa setting, ensuring a harmonious marriage of relaxation and wellness and steering the firm toward success. How To Create the Ultimate Spa Business Plan 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 ... A Beginner's Guide to Med Spa Marketing Med spas provide a wide range of benefits, and it's vital that you understand the core ways you can use med spa marketing to grow your clientele. Sharing the perks of getting treatment will help ... OTDYKH Spa & Health 2018 The Medical Tourism, Spa & Health Conference is a highly professional event with the aim of the development of spa & health tourism in Russia and abroad. W. OTDYKH Spa & Health 2018 is held in Moscow, Russia, from 9/11/2018 to 9/11/2018 in Expocentre Fairgrounds. Best 15 Building Supplies in Shcherbinka, Moscow Oblast, Russia Find trusted lumber companies and construction suppliers with reviews from residential builders, interior designers and homeowners. Search 332 Shcherbinka building supplies to find the best lumber or building supply company for your project. See the top reviewed local lumber and building supplies in Shcherbinka, Moscow Oblast, Russia on Houzz. Plan Your Trip to Shcherbinka: Best of Shcherbinka Tourism 30. Monuments & Statues, Points of Interest & Landmarks. Cathedral of All Sacred in Russia. 20. Churches & Cathedrals. Talalikhin Park. 21. Parks. Monument Podolsk City of the Working Class. Siren Project,Shcherbinka Situated in Shcherbinka, Siren Project Country House offers accommodation with free WiFi and seating area. The accommodation boasts a spa bath. Fitted with a balcony, the units feature a TV and a private bathroom with bath. Guests at the country house can enjoy a continental breakfast. Moscow is 28 km from Siren Project Country House, while ... Bloomberg's Johns Hopkins Donation Gives Medical Students Free Tuition Mike Bloomberg donated $1 billion to Johns Hopkins University. The gift will make tuition for medical school free for students with family incomes under $300,000. It'll also cover living expenses ... assignment essay homework paper phd report resume review speech thesis