MedSpa Business Strategy and Trends for Medical and Wellness Facilities
Aug 30, 2022
Consumer interest in medical aesthetics continues to rise, and the growth rate of the North American medical aesthetics market is expected to accelerate to more than 10 percent annually through 2026. The number and type of non-surgical aesthetic procedures conducted worldwide grew by nearly two million between 2017 and 2020.2,3,4,5 This growth is expected to continue, with 23 million dermal fillers and 14.6 million body procedures predicted by 2025.6 In parallel, physicians globally saw an increased volume of younger patients, more patients from a diverse range of ethnic backgrounds, and more male patients than ever before.1To access The Future of Aesthetics report and for more information, please contact your local Allergan Aesthetics representative or visit news.allerganaesthetics.com/future-of-aesthetics to register your interest in receiving the report.
Future of Aesthetics (U.S.) Infographic
Medical spa directors & owners looking to grow top-line revenue need to identify innovative ways to attract new customers and increase “share of wallet” among existing clientele. MedSpa Solutions understands the pressures and importance of increasing gross sales in the medical spa industry. Financial growth is equally necessary for all med-spa facilities, whether they are free-standing locations, specialty medical boutiques, or wellness resort destinations.
As experts in the medical spa industry, with years of experience in high-end luxury medical spas, MedSpa Solutions provides a customized solution from the development of full retail and medical aesthetic treatment programs to a segmented focus on the many aspects of running a medical aesthetic business. We always maximize operational efficiency with profitable results.
MedSpa Solutions has a fully developed scope of services that systematically address all
aspects of running a medical aesthetic operation. MedSpa Solutions redefines medical spa success by customizing a one-of-a-kind program to enhance the quality of business that supports your management and staff. Our secret? Using proprietary know-how to assess, plan, develop and execute comprehensive programs that will elevate the level of services a medical aesthetic business offers.
Our comprehensive scope of services includes but is not limited to:
Market Research
Target market, industry trends, competitive analysis and criteria for site selection
Branding, Business & Marketing Tactics + Trends
• Name, logo, signage, and uniform
• Analysis of the competition to ensure a competitive edge
• Customized treatments and services packages
• Assistance with web design
• Marketing collaterals, web-based initiatives, and social networking
• “Invert-izing” (in house advertising) and incentives for cross marketing
• Rewards, gift, membership, and referral programs
Design/Development
• Prototype facility floor plans- Identify facility flow for function and guest experience
• Work with architect, designer, and general contractor for a consistent theme and function
• Review and appraise all working plans, take project through construction
• Retail and visual merchandising
• Items, cut sheets and technical specification room by room (FF&E)
• Equipment selection with discounted pricing/vendor negotiations/opening orders
Financials
• Business and marketing plans
• Profit and loss statements, revenue assumptions, cost of sales, cash flow
• Capital expenditure list, labor assumptions, compensation packages
• Projected guest usage and recommended price points
• Fitness/wellness revenue opportunities
Business Development & Operations
• Software selection (Point-of-Sale)
• Customer service standards and professional code of conduct
• Staffing requirements
• Human resources: job descriptions, manuals, compensation programs and incentives
• Operations for front desk personnel, staff, and managers manual
• Client flow, policy, and procedures
• Recruit, hire and train staff
• Identify reports for inventory management and purchasing
• Staff sales targets and incentives
• Guide for successful consultations and consultative selling
• Signature services, series, and packages
• Retail profit centers
• Operating review and ROI tactics
• Site Visits, Spa Shopper, Audits & Coaching Services