Have you wanted to open up your own medical spa, but didn’t have the money or the business knowledge? Welcome to Medspa Circle, where you can open your own private aesthetic practice with zero upfront cost and the business and marketing support with a medical director in your state.
In this overview, you will review the simple recipe for medspa success, several actual case studies of medspas that we’ve launched, the list of support that you will receive and an overview of the financials.
Interested? Let’s go then.
Background:
I opened my first medspa in 2007. I took on a half a million dollars in debt, spent almost a year building out a retail center, and spent hundreds of thousands on lasers. Looking back, I regret most of the novice mistakes that I made. Since then, I’ve worked as a consultant with major pharmaceutical companies and one of the largest medspa chains in the USA. I’ve helped thousands of injectors worldwide in their training and medspa startup as the co-founder of Cosmetic Medical Training. Now, I help people like you to open up medspas in the quickest way possible through Medspa Circle.
How do you do this?
Let me share with you one piece of advice on what NOT to do..
Don’t open with a mountain of debt, because if you don’t already have a large patient list, then it will take you at least 6 months to a year until you start to see positive cash flow.
So, then how do you open a medspa with very little money and drive new patients?
Our slogan is “BUILDING A GENEROUS MEDSPA.” What does that mean?
A generous medspa means that we want to offer YOU the opportunity to open your own medspa for a GENEROUS cost; zero. How? We can help you open your own medspa with zero cost to you because of our years of medspa startup experience.
A generous medspa means that we want to offer all of your patients excellent service and over deliver on the value that we give your patient for a GENEROUS price. We can drive new patients to your new medspa with the lowest cost possible by passing on savings that we get directly to your patients.
Let me summarize our secret into four points.
- Low startup: Partner with pre-existing businesses to sublease rental space, and start with just injectables.
- Low marketing cost: Use those partners for word of mouth, and use our exclusive successful Facebook and YouTube marketing campaigns to drive new patients.
- Low business cost: Use a co-op model to share the cost of malpractice insurance, software and other resources.
- Best practice patient outreach: Use our network of virtual assistants and automation tools to attract and retain patients.
Let’s go over these points in detail.
Low Startup:
Many medspas open up with heavy debt and too many services. The traditional thought is that medspa services are high end and that patients need luxurious decor. The past 20 years has seen a drastic shift in medspa demographics where medspa services are no longer the beauty regiment of only the wealthy. Another traditional thought is to offer as many services as possible. This strategy sounds profitable, but we have seen that most businesses lack the marketing and sales skills to profit from a wide range of services.
Therefore, we take these steps to immediately reduce your monthly overhead:
Open inside of pre-existing day spas, beauty salons or wellness clinics.
Instead of a flat monthly fee, you pay an hourly rate.
Instead of opening daily or weekly, you start off opening once per month. This way you can also open up in 4 different locations in the same month.This way you create scarcity and optimize your booking only on the day that you pay rent.
We also reduce startup cost by NOT investing in expensive equipment by offering injectable only when you start. We’ve partnered with major pharmaceutical companies like Merz and Prollenium to become one the highest tiered medspa. As a result, you’ll benefit from our group purchasing savings.
Low Marketing Costs:
With each of the locations that you sub-lease, you ask the owner to spread the word to their current clients. The owner can receive free services or earn your own private membership points for referring clients to you. Word of mouth marketing is the best retention strategy and is also the cheapest.
We also use paid ads through Facebook and YouTube. With almost 20 years in medspa marketing, our expert marketing team is able to acquire patients for lower cost than other medspas. We’ve already got the best performing ads ready for your use.
Low Business Costs:
You will also take advantage of the bundled malpractice insurance, software fees, social media management, website design, server cost, and many more. The biggest advantage comes from our group purchasing organization ability to purchase neurotoxin and dermal filler at a lower cost. This allows you to compete with other current medspas on price.
Best Practice Patient Outreach:
You will get access to our virtual assistants who will manage your social media, text and email campaigns, answer your phone call to set and change patient appointments, and ensure smooth medspa operations. You can even use them as medical scribes to write your medical charting and help with patient check-in and check-out.
In Summary, Our role:
Our internal medspa practice builder team will do the following:
- Initial set up: business set up including, banking, filing with the state and malpractice insurance.
- Find your new medspa: call local businesses to find several potential beauty businesses with a private room and make business agreements with the owners
- Provide supplies and injectable supplies: receive your necessary startup supplies and neurotoxin and filler before you start your first day at zero initial cost to you.
- Review of medical protocol: training sessions with your medical director on our protocol and demonstration of your skills on a live model. You will get access to our own private EMR and scheduling software in one.
- Marketing: start word of mouth and paid ad campaigns for your grand opening, build your website, create social media content, engage on social media for you
- Patient support: virtual patient care coordinator to answer questions and book appointments for your event
- Event support: virtual patient care coordinator who will help your patients check in and out, and help with payment and even medical charting.
Your role:
You are our partner in running your own medspa. You can make your own schedule and determine the price that you want to charge your patients. You can decide which services that you want to offer based on the menu to service that we will give you to start with.
You will simply provide the best medical care to your aesthetic patients. Your participation in patient support and marketing is encouraged as this will increase the likelihood of your success. We know that we can offer patients great value and patient service, but it is your expertise, bedside manner and personal connection that keeps a patient coming back.
How much will I make?
You are paid on an RVU (relative value unit) system, where you will get a portion of the services that you provide to your patient. This value is roughly equivalent to 30%-50% of the total sales minus the expenses related to the procedure depending on your degree (RN, NP, PA, MD, etc).
As a partner, we ask that you share the loss in the months when business is bad and reap the rewards of a good month. Let me show you a few case studies of medspas that we have opened.
Beauty By Rach was opened in September of 2022, and over six months, Rachel the PA averaged around $60/hour in RVU. Over the next six months, she was near $100/hour. After a year, she is making over $100/hour in RVU.
Aesthetic Connection Medspa was also opened in September of 2022, and over six months, Monique the NP averaged at $52/hour in RVU. Over the next six months, she was over $100/hour and currently is maintaining RVU earning over $100/hour.
What you will make depends on your ability to connect with your event location owners and employees to build word of mouth, and your warmth and communication skills that will attract and maintain your patient load.
When do I get paid?
As a partner in the medspa, you are not paid as an employee. The cash flow depends on the monthly expenses incurred, such as cost of goods sold, rent, virtual assistant charges, malpractice, credit card charges, software, server and more. After the expenses are paid, then the remaining amount of the gross revenue can be given RVU values based on your productivity. In the months that have low revenue and high expenses which makes the profit negative, neither of the partners (you and Medspa Circle) will get any payment since the business lost money.
The first month can be a net negative month until your business starts picking up. We will never ask you to pay for any amount into the bank to cover the business loss. However, the net negative loss from one month will roll over into the next month, which can reduce the RVU payout in the following month (since the negative balance must be settled before either partners are paid).
How do I get started?
First, contact us by or phone 212-470-9868 and send us your CV. Then, you will go through a series of interviews to see if we are a good fit with each other. We will ask for personal and professional references and conduct a background screening. Depending on your level of training, you will connect with the medical director to conduct a skill assessment. Further training may be required depending on your level of experience.