Start with a Road Map
A business plan is critical for any business success, and it is very important when starting a Medical Spa. Not only is it necessary if you are going to require additional financing, but it will act as a blueprint in building a successful MedSpa practice. You may be able to get quick equipment financing for up to $150,000, but if you are going to require additional funds you will need a compressive business plan along with solid financial statements.

You should have a clear strategy of what services, procedures and products you will offer. Don't try to be everything to everyone. You may want to focus on only one procedure (i.e. hair removal), or pick a few which compliment your other services (i.e. microdermabrasion with herbal facials).

Here are some other startup questions which should be clear in your mind: Who will your customers be? Where are they located? What will my startup costs be? Ensure you have the right insurance for a MedSpa (i.e. Malpractice, General Liability, Property Coverage) All these things should be answered before you move forward. If your strength is not in business planning consider hiring an experienced Medical Spa consultant.

Financing Options
Once you have outlined all of the costs, you will need to consider your financing options. If you are simply adding hair removal equipment in your current location, financing can easily be arranged to meet your requirements (please consult your tax advisor for advice on your individual situation). If you decide to expand into another location the costs increase dramatically (these should have been identified in your business plan). At this time you need to be in contact with us so we work with you to best meet your specific requirements, whether it be equipment leasing, business loan, franchise financing, working capital or real estate financing.

Product, Equipment, Service
By completing your business plan, you will have a clear idea of how many treatment rooms you will need. Don't forget about calculating the amount of retail space you will also need to support the practice.

When choosing your skin care products, choose the ones you really believe in. Otherwise, you are really missing a huge profit opportunity. You may even want to go private label.

Location, Location, Location
Once your business plan is completed, you need to find the appropriate location. You need to know exactly who your customers are before you make this decision. Once you have found the ideal location, you will need to work with a development team on the building of the Medical Spa. Again, a consultant who is also an experienced project manager will be very useful here.

Building your Dream Team
Since you will not want to be tied down to the day to day operations of the MediSpa, you will need to choose a Spa Director very carefully. This person needs to mirror your exceptional customer values, and is talented enough to choose the right team members for your MedSpa. If you are not comfortable with hiring this key position, you should not hesitate to use the services of an employment agency or consultant. Do not hire this person too late in the game, they should be hired early on so they feel part of the process and will take the success of your business personally.

Part of this process will be completing a MedSpa operational manual. Most customer complaints are regarding issues outside the treatment rooms. Make sure from the time your customer arrives to the time they leave everything runs in a smooth and orderly manner.

Marketing and Promotion
First of all you need to let all your current patients know about your new Medical Spa. Do not think this is enough! You should have a comprehensive marketing plan prior to your grand opening. If you do not have these strengths, consider a Marketing firm or consultant that is experienced with Medical Spa marketing. You should interview several, and carefully review the success of their previous MedSpa clients. A good indicator of future results is what they have done in the past.

In addition to the initial marketing of your new MedSpa, you and your employees must not forget about the promoting the products you have available for retail sales. This is a necessary component of the continuous profitability of your Medical Spa.

Summary
As you can see there are many items you will need to be aware. There are too many to list here, and this limited listing is only meant to get you thinking about what you will need to get your MedSpa started.

You also do not want to fall into the trap of focusing too much on this new expansion and forget about your current patients. Hire help when you need it.