Business Set Up & Expansion
Providing you a turnkey Medical Spa business model
Medical spas offer clinical-grade procedures in a pampering or luxury environment. From laser hair removal to body sculpting treatments, skin resurfacing, injectables, to medical weight loss, hormone replacement therapy treatments, & more.
To this day, medical spas are a multi-billion dollar industry, projected to considerably grow over the next decade. Whether you're an established medical professional looking to add new services to your practice, or an investor looking for their next investment opportunity, now is a great time to take your first steps toward opening a medical spa. Turnkey Aesthetics Consulting is here to help guide you every step of the way.
1. What services will you offer?
What services you are you going to offer your clients? Medical spas, day spas, and holistic spas offer a wide range in services. Do you want to be full service or niche? You can chose from anti-aging processes, body sculpting, laser hair removal, injectables & more. We well help you choose the right modalities for your practice based on your current clientele, demographics, and competitors in the area.
2. Designing your space
Whether you're a medical spa, day spa, or holistic spa, you'll have to offer more than just aesthetic treatments & procedures, you need to create a unique vibe that's enticing, inviting, and inspiring. We can help you design your space, pick out furnishings, and everything in-between.
3. Business size
Are you planning on opening a large practice with full time physicians assistants, aesthetic nurses, licensed estheticians, and massage therapist, or a smaller, more intimate practice with room to grow? Where you start is ultimately up to you, your space and budget will help us determine what you need, and how many clients you can take on at any given time. We will help you establish the core ideas of your business before establishing your practice, we only ask that remain flexible. As you move forward, adjustments will need to be made, and our business plan may pivot to adapt to your new needs. We will communicate with you every step of the way.
4. Creating your Business Plan
Writing a business plan for a day spa, medical spa, or holistic spa in a major undertaking that requires market research, financial data, and number crunching. It's also likely your path towards funding, so it's imperative you know the ins and out and have a cohesive plan of action. We will guide through every step. Whether you are opening a brand new practice or adding a medical spa to your existing practice, we will help you address income, cashflow, expenses, operating costs, and organizational structure. and that's just the beginning. We will help you create the full scope of your business, from the executive summary to your five-year plan.
When it comes to medical spas in particular, insurance is a top priority. To operate safely and legally, you may need the following types of insurance.
+ General liability insurance - Common insurance that most businesses carry, general liability insurance protects you and your business from lawsuits that are related to accidents or property damage.
+ Professional liability insurance - Commonly known as malpractice insurance, this specialized services covers lawsuits due to various procedures and services you may perform. If someone claims to suffer an injury due to a service you've provided, professional liability insurance can protect you.
+ Workman's Comp - Workers compensation insurance is used to cover lost wages and or medical expenses for your employees in the case of a work-related accident. Many states require workers' compensation insurance for businesses with multiple employees.
If you are a medical director yourself, or already have one, we will help you ensure that you have sufficient coverage for the services you are providing.
6. Legal Compliance
Most states require med spas to be owned by a licensed physician or a corporation that's physician-owned. Fortunately investors and other medical professional can still own and operate medical spas while remaining fully compliant with their states laws. While you'll still need to hire a licensed physician (typically surgeons, plastic surgeons, anesthesiologist , or dermatologist) to remain fully compliant, your day to day will be in your control. You will also need a management services organization to help with payroll accounting, business operations, & hiring. We can help you set all of this up, or help you refine and optimize the systems you already have in place.
7. Location, Location, Location
If you're starting from scratch, we can help you decide on a location that would be best suited for you based on your budget, clientele, and plans for expansion. Some practices attract their clientele by opening in busy downtown areas. Others may find a strip mall or another rural location is more ideal. With any location there are several factors you'll want to keep in mind.
+ Parking & accessibility - Make sure your clients have a convenient place to park, arrive, and enter into your facility. Accessibility is essential for all spas, make sure you have elevators and ramps.
+ Competition - We will research the competition in your area in addition to the most in demand services, and your current clienteles wants and needs. From there we will help you select the right treatments to best serve your clients while making you the most money. Direct competition in your area can make starting a new business difficult, that's why we will help you navigate which treatments would be the most practical and profitable.
Keep in mind that where you start may not be where you stay - you may start with a single office and device and expand as your client base grows and refers their friends and family. We are here to help you, and advise you, every step of the way.
8. Building your Dream Team
With any spa that you open, you'll need several employees to assist with daily operations. The most common roles hired in a medical spa are:
+ Physicians Assistants
+ Registered Aesthetic Nurses
+ Licensed Aestheticians
+ Office Manager
+ Sales Consultant
+ IT management
We will help you hire and train the right staff, break down pay structures, commission structures, and ensure that your team has the same core values and goals as you do. As with any practice, the last thing you want is a high turnover of staff. At the end of the day, people buy from people they like. Your clients will develop a relationship with your staff, and refer their friends and family to the providers they love. Having your clients bring you new leads will also keep your marketing costs down, and revenues up.
10. Building a Brand
Building a brand goes beyond your marketing materials and uniforms, its the essence of your business that your clients come to instantly recognize and feel confident in. We can help you build a cohesive brand from your interior design to you website, logo, social media accounts, and your voice. We will help you choose fonts, color schemes, and cultivate a lifestyle that people actually want and seek.
12. Developing Marketing Materials
A strategic marketing plan is essential to your practice before opening your doors. If you're running an established practice already, we can still help you create a cohesive plan and re-design your materials to build your brand and make your materials cohesive all the way around. We can help you curate a membership and rewards program, create a customer referral basis, design brochures, pamphlets, and business cards, and build relationships within your local community.