Medical or med spas offer clinical-grade procedures in a pampering environment, from body sculpting to laser hair removal. Med spas are multi-billion dollar industries, projected to expand considerably and grow over the next decade. For those interested in this burgeoning industry, now is the best time to take your first steps toward opening a spa.
Need help figuring out how to start a medical spa? Let’s help you begin the dream med spa you have always wanted.
Opening Your Med Spa
Today, we will cover every aspect of your dream med spa and give you all the information for starting your medical spa. All begins with a plan. Read on as much as possible to help establish yourself in the med spa industry and avoid the pitfalls of starting a business.
Designing Your Concept
All businesses begin as an idea. Yes, some take months and years of brainstorming before the time comes to start implementing your plan. If you’re asking how to create your med spa, begin by establishing the basics, such as:
- Business size – Even though every business has room to grow, where you start is ultimately up to you. The business size determines the space you need and how many customers you can take on and serve at any given time.
- Describe the brand’s look and feel – Your medical spa needs to provide more than quality medical procedures and aesthetic treatments. These factors also need to create an inviting and inspiring environment to attract clientele.
- What services to offer – What are you looking to provide your customers? Med spas offer a wide range of spa services, and most pick a specialty. Just be sure you’re not over-expanding your medical spa business’s capabilities.
Writing Business Plans and Securing Funds
Writing your business plan for the medical spa you want to put up is a significant undertaking that needs market research, financial data, and plenty of number crunching. In addition, med spa business plans are likely your path toward funding.
Your business plan will need to address business aspects such as:
- Cashflow
- Expenses
- Income
- Operating costs
- Organizational structure
Ultimately, your business plan must cover the full scope of your med spa business, from its executive summary to your five-year plan. Fortunately, with some expertise and diligence, you’ll be able to craft a winning business plan and secure funding.
Signing Up for Insurance
Business and medical insurance is a top priority in the medical spa industry, no matter how much it costs. Although it will likely come up during business proposal budgets, it’s worth focusing on the requirements needed for your med spa’s insurance.
If you want legal and safe operations, you may need to obtain any of the following types of insurance:
- General Liability
- Professional Liability
- Workers’ Compensation Insurance
Establishing Legal Compliances
Med spas offer medical services that are specialized in the business most of the time. Licensed physicians or physician-owned corporations often own medical spas
. For non-doctors, med spa ownership is still possible through management services organizations or MSOs. An MSO works to manage the following:
- Accounting
- Business operations
- Hiring
- Payroll
Finding the Right Location
The ideal venue for your med spa may depend on your clientele, budget, and plans for expanding. Some medical spas attract customers by opening shops in busy downtown areas. Meanwhile, others might succeed in more rural areas with a bonus of eye-catching and majestic sceneries.
Wherever you want your location to be, keep the following factors in mind:
- Accessibility and Parking – Give clients convenient ways of parking, arriving, and entering your med spa facility. Likewise, ensure spaces are equipped with elevators and ramps. Accessibility is a necessity for medical spas.
- Competition – You may want to consider this factor when planning to establish your med spa business in areas with several currently operating and established medical spas. Direct competition in the neighborhood can already create conflict and make the start of your new business all the more difficult.
- Zoning – Find a location properly-zoned for commercial med spa businesses. Otherwise, try spending significant money and time negotiating zoning laws with the municipality.
Remember that your first location may be somewhere other than where you stay.
Hiring Your Staff
Doctors are just some of the staff members you’ll need. You’ll need several employees to provide your med spa services, assisting you with all daily operations.
The most common employees hired for med spas are:
- Licensed aestheticians
- Physicians assistants
- Registered nurses
In addition, hire a receptionist, office administrator, accountant, and technical support to get your business up and running faster. Practice reflective and ethical hiring practices and conduct a thorough interview to find the best candidates.
Refining Your Brand
A business brand isn’t only how you display yourself through med spa uniforms or marketing materials. The brand is the essence of your business that customers will and should come to recognize instantaneously.
You’ll already have clear pictures of your med spa as a brand in a perfect setup. Be sure you’re honing it in on your logo, your target audience, and the brand’s voice. From the interiors of your med spa down to your website and social media accounts, work to create a singular brand identity that will make your business unforgettable.
Developing Your Marketing Materials
Before bringing customers through the doors, you’ll need to entice them with a strong and strategic marketing plan. Some med spa-specialized marketing ideas include:
- Build local relationships – Consider reaching out to other local businesses so you can build a foundation for your customer base. Collaborate with them every once in a while, like a local day spa, and create interconnection of your businesses through promos and discounts that bring more customers into both companies. In addition, explore the neighborhood digitally and make more local business connections.
- Customer referral bonuses – Referrals are simple ways to expand your reach with others. Using the network you already have and offer customers referral discounts for those who recommend your med spa to all their friends, peers, and family members.
- Spa rewards – Encourage customers to return to your services as frequently as possible through an offered rewards program. This step is just one way to give back to your loyal customers.
Invite Neighbors to Your Med Spa
It may be complex, but with some practical advice and a little luck, you’ll be paving the way and opening the doors of your new medical spa business in no time. Before planning your grand opening, check out everything mentioned earlier to start building your med spa presence in your neighborhood.
Final Takeaways
You’re now all set to embark with customers with your new med spa. Follow our tips, and you’ll be gearing yourself toward the goals you want for your unique medical spa.
If you want to open your med spa, our great friends at ReLux Medical Spa can help you today.
