Myths and Realities for Opening a Medi Spa
Read this article and avoid costly mistakes
Opening a medical spa is not an easy venture. It takes a lot of strategic planning to come up with a vision and to make it a reality. Today, many doctors and other medical professionals are interested in opening medical spas. I want to help you avoid costly mistakes so you can reach success the fastest way possible. An important lesson to learn from the start is not to reinvent the wheel. We have spent 19 years perfecting it. Discover 10 Myths and Realities to help you avoid costly mistakes.
Myth #1
I don’t need a business plan; I have it all in my head, I know what to do…
Creating a medical spa business plan is your first step. This process takes a lot of time. You want a plan to help you create a successful business model, outline the financial requirements, the competitive advantage, market research and more. You want a clear plan in writing so you can get your loan and know how to structure the business.
Ask us about creating your business plan for you!
Myth #2
I have an idea as to how much money I need to open and operate my medical spa.
Clarifying your financial picture is key. You need to know two things:
- The required investment you need to open your medical spa
- The financial reserves you need
Having a clear and detailed medi spa budget will give you a detailed financial document that will help you manage your finances properly instead of them managing you.
Myth #3
I only need an architect to design my medical spa.
Space planning is an important part of the process. You want your medi spa to flow effectively. When creating your space plan, keep in mind the following:
- You want to deliver the great guest experience
- Make sure it’s operationally friendly for the team
- Positioned to maximize the revenue per square foot to generate the maximum amount of revenue
We can help you create a very effective space plan, then you can get the architect to do their process.
Myth #4
I don’t need professional branding; my cousin can do my website and menu.
When opening a medical spa, your medi spa branding is crucial to your success. Branding goes beyond just a logo. There are many marketing materials you will need to create to present your med spa brand professionally and entice consumers to be attracted to you and your business. My team has developed brands for many medical spas. We can help you develop a great image and brand for you.
Myth #5
I am not worried about the competition; I will be just fine.
Medi spa competition is fierce. There is a medical spa on every corner. You want to develop a differentiation strategy. What will attract people to you? We help professionals differentiate by becoming published authors. Having your name on a book will make a big difference with your positioning. It will separate you from the competition and help position you as the expert in your field. We can help you become a published author. Visit BecomePublished.com, learn more about the Write Your Book In One Weekend seminar and join us.
Myth #6
I’ll start marketing once I open my medical spa.
Marketing should start before you even open your medical spa. We specialize in lead generation. Building your list is the most important part to marketing your med spa. To generate leads you need:
- A great website
- Social media platforms
- Landing pages
- Call to action and opt-in opportunities
We have a med spa marketing plan that outlines over 72 different ways to market your medi spa business.
Myth #7
I know how to run a business; I don’t need any help…
Developing a successful business model takes time, money and a lot of effort. One piece of advice I give everyone is not to reinvent the wheel. For the past 19 years, we have perfected a medi spa business model that provides a blueprint to success. All you have to do is take the A-Z model and implement. To get your hands on it, join us for the next Leap Ahead seminar.
Myth #8
I know how to pay my nurses, NP, Estheticians, etc.; it’s not complicated.
Coming up with a performance-based compensation model will make a big difference on how profitable your business is. You want your compensation model to reward your team and recognize them for a job well done. You want to pay them their true worth. They should earn a lot if they do a great job, and they should earn less if they are average. We offer the Volume Per Guest Compensation Model to make sure you are very profitable. We teach this model at the Leap Ahead seminar.
Myth #9
Don’t need a planning team; I can do it all on my own.
- Medi Spa Advisor, consultants, business development – A Guide. ME
- Architect
- Interior Designer
- Financial Advisor, Banker
- Real Estate Agent
- Attorney
- Insurance agent
- Family and Friends for Mental Support
Set yourself up for success.
Myth #10
Opening on schedule, my timeline is perfect.
Expect the countdown to be delayed a minimum of two months. When it comes to construction, they are never on time. I have yet to see a new medical spa open on time. Plan for delays.
This was an overview to help you see some of the things you need to take into consideration before you even get started. There is a lot more you need to know to open up your medical spa successfully.
We invite you to reach out and complete a form to reserve a success planning session.
InSPArationManagement.com/Strategic-Planning-Session
Good luck with your new venture and we look forward to helping you!
