As we all know the MedSpa market is hot right now and it’s not going to slow down anytime soon, so it is a great time to consider MedSpa Ownership. According to “Expert Market Research” the U.S. MedSpa market was at $5.64 billion in 2021 and is expected to reach 12.3 billion in 2027. As appealing as those numbers sound, starting a business of any kind is not easy. First you’ll want to understand what options are available to when it comes to MedSpa Ownership. Then you’ll want to assess the market and profitability potential of the business.
How you go about it also depends on what type of Medical Credentials you currently have, if any. In most states, an overseeing Medical Director is required to open a MedSpa business. As you embark on the decision of MedSpa Ownership you’ll want to consult with an Attorney with experience in medspa ownership regulations as well as in the geographical area that you plan to practice.
There are multiple structures available that you’ll want to consider when thinking about the best approach for your MedSpa and we’ve compiled them here in this guide to MedSpa Ownership:
Self-managed Single Location MedSpa
Opening a MedSpa as a single location is another great option as long as you’ve done all the preparation required and know that starting a business and making it a success requires a significant investment and a lot of hard work. In today’s marketing Aestheticians, Physician Assistants and ARNP who have established a following and book of business are setting out to open single location MedSpas. Having credibility and a personal brand is a great jumping off point and will help set you up for success if this is the route you choose to take.
MSO (Management Services Organization) MedSpa Model
Whether you have a single location or plan to have multiple, you can align with a Managed Service Organization to take over all of the non-medical management of your MedSpa business. An MSO is a company that provides non-clinical administrative and management services to medical practices. In the context of a medspa business, an MSO can offer a range of services to support the operational and business needs of the medspa. Essentially an MSO manages the non-medical parts of the business and in many cases supports the growth of a MedSpa through economies of scale and the fact that it has many similar businesses that it’s managing through the organization.
MedSpa Suites or Cloud MedSpa
A business model that’s gaining in popularity are MedSpa Suites. With the Suite model, there are options where you rent your own suite OR you can book a room based on when you need it. One interesting concept that is combining the Suite-model with MSO is a company by the name of Vansanity . Here you can book a room, rent equipment to treat your patients and even participate in training that they organize and offer to medical staff that are using their facilities.
Franchise MedSpa Model
If you’re an entrepreneur or have owned other franchise businesses and now want to get into the MedSpa space, this may be an option for you. You do not have to be a Medical Provider to own a MedSpa, however you cannot direct or control the medical services provided. With a franchise model the franchisor provides support with all aspects of the business set-up as well as marketing. Companies like VIO MedSpa have burst into the market and quickly become leaders in the MedSpa franchise concept.
Co-op MedSpa Model
A less risky, yet still lucrative option for Aestheticians and non-MD providers is to rent a room within an established practice that provides complementary services to yours. For example a Dermatolgist who doesn’t offer aesthetic services would be a perfect fit and referral source. Within this model you’ll have to establish how the structure would work and if the Doctor of the practice will be serving as your Medical Director. You’ll have to work out the details of your insurance and compensation structure with the location in which you will reside.
According to “Expert Market Research” the U.S. MedSpa market was at $5.64 billion in 2021 and is expected to reach 12.3 billion in 2027.
With all of these options, it’s important to keep in mind that the laws for opening a MedSpa are different in every state. As you start the process you should make it a point to understand how the structure you choose will work depending on whether you’re an entrepreneur or medical professional.
About The MedSpa Society
At The MedSpa Society we are on a mission to make everything you do to market your MedSpa Easier. We have 15+ years of experience working with MedSpas, Aesthetics Clinics, Anti-Aging Practices, IV Therapy Clinics and other businesses that offer cash pay Aesthetics & Wellness Services. Not only have we worked with multiple clients in the Medical Aesthetics industry, but we’ve also worked in-house for large multi-location MedSpas. We know how much skill and time goes into running a medical aesthetics or wellness practice. Let us help you stand out and achieve greater success by streamlining your marketing. Working with The MedSpa Society, you will gain a highly engaged team, fiercely loyal clients/patients, and peace of mind. Let’s just say we know the industry like the back of our hand. Contact Us.
