Medical Spa Business Plan

Medical Spa Business Plan

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.

 

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:

  • Botox
  • Lip fillers
  • Facials
  • 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:

  • Botox
  • Lip fillers
  • Facials
  • Microdermabrasion
  • Microneedling
  • Chemical Peels
  • Body Sculpting
  • Laser Hair Removal
  • Hyaluronic Acid
  • Non-surgical Fat Reduction
  • Non-surgical Skin Tightening
  • 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:

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Customer Segmentation

Healthier You will primarily target the following customer profiles:

  • Gen X
  • 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.

 

Pricing

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.

 

Management Team

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. 

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.  


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:

  • 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


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 1FY 2FY 3FY 4FY 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 1FY 2FY 3FY 4FY 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 1FY 2FY 3FY 4FY 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

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.

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.

Medical spa companies are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

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