Medical Aesthetics Business Plan Template

Medical Aesthetics Business Plan Template

If you want to start a medical aesthetics business or expand your current firewood business, you need a business plan.

The following Medical Aesthetics business plan template gives you the key elements to include in a winning Medical Aesthetics business plan.

You can download our medical aesthetics business plan template (including a full, customizable financial model) to your computer here.

 

Sample Medical Aesthetics Business Plan Template

Below is a medical aesthetics business plan example with each of the key sections to help you write a medical aesthetics business plan for your own company.

I. Executive Summary

Business Overview

[Company Name] is a new medical aesthetics spa located in [location]. Our mission is to help residents restore their natural beauty with the help of noninvasive medical treatments. We offer a variety of medical aesthetics services, including microdermabrasion, laser hair removal, and body contouring. We aim to be the #1 medical spa that the residents of [location] can depend on for all their beauty care needs.

Services

[Company Name] provides a variety of medical aesthetics services to keep our customers looking and feeling their best. Some example services that we offer include, but are not limited to:

• Body contouring
• Chemical peels
• Laser hair removal
• Cellulite reduction
• Wrinkle reduction
• Skin tightening
• Microdermabrasion

In addition to these services, there will be a selection of beauty products for sale by the front reception counter that will help our customers maintain their appearance.

Customer Focus

[Company Name] will primarily serve residents living within 10 miles of our location. The demographics of these customers are as follows:

• 42,521 residents
• Average income of $65,900
• 58.9% married
• 55% female
• 49.6% in Management/Professional occupations
• Median age: 38 years

These demographics serve our company well. Traditionally, the customers that are most interested in medical spas are upper-class females who are middle-aged or older. The demographics above show that many of the residents of [location] fall into this target market.

Management Team

[Company Name] is led by [Founder’s Name], who has been in the medical aesthetics industry for [X] years. Throughout this time, she worked for other local medical spas, providing a variety of treatments to hundreds of clients. This has given her the experience and skills to succeed in her own medical spa business.

Furthermore, many of her pre-existing clients have agreed to frequent her new business, which gives [Company Name] a solid starting client base. Though she has never run a medical spa of her own, she will hire personnel to help her manage the operations, financing, and marketing sides of the business.

Success Factors

[Company Name] is uniquely qualified to succeed due to the following reasons:

• Our location is in a high-volume area with easy access from multiple residential and commercial district zones.
• The management team has a track record of success in the medical aesthetics industry.
• The medical spa business is a proven business and has succeeded in communities throughout the United States.
• [Founder’s Name] has a starting client base that she has built up through her years of working for other medical spas.

Financial Highlights

[Company Name] is currently seeking $470,000 to launch. Specifically, these funds will be used as follows:

• Store design/build: $250,000
• Medical equipment and supplies: $100,000
• Working capital: $120,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even

Top line projections over the next five years are as follows:

 

II. Company Overview

Who is [Company Name]?

[Company Name] is a new medical aesthetics spa located in [location]. Our mission is to help local residents restore their natural beauty with the help of noninvasive medical treatments. We offer a variety of medical aesthetics services, including microdermabrasion, laser hair removal, and body contouring. We aim to be the #1 medical spa that the residents of [location] can depend on for all their beauty care needs.

[Company Name] is led by [Founder’s Name], who has been in the medical aesthetics industry for [X] years. Throughout this time, she has worked for other local medical spas, providing a variety of treatments to hundreds of clients. However, she yearned to run a business of her own. Therefore, she found an underserved market in [location] and set out to start a medical spa in that location.

[Company Name]’s History

After conducting the research needed to establish a medical spa, [Founder’s Name] incorporated [Company Name] on [date of incorporation] as an S-corporation.

The business is currently being run out of [Founder’s Name]’s home office, but once the lease on [Company Name]’s spa location is finalized, all operations will be run from there.

Since incorporation, [Company Name] has achieved the following milestones:

• Found a commercial space for the spa and signed a Letter of Intent to lease it
• Developed the company’s name, logo, and website located at [website]
• Hired an interior designer for the decor and furniture layout
• Determined equipment and fixture requirements
• Begun recruiting key employees with previous beauty experience

[Company Name]’s Products/Services

[Company Name] provides a variety of medical aesthetics services to keep our customers looking and feeling their best. Some example services that we offer include, but are not limited to:

• Body contouring
• Chemical peels
• Laser hair removal
• Cellulite reduction
• Wrinkle reduction
• Skin tightening
• Microdermabrasion

In addition to these services, there will be a selection of beauty products for sale by the front reception counter that will help our customers maintain their appearance.

 

III. Industry Analysis

The beauty industry will always be in high demand, and the medical aesthetics market is no exception. As technology improves, more people will clamor to try new medical treatments that make them look younger, thinner, and more attractive. Hardships, stress, and genetics work against us, especially as we age. It can be hard to watch one’s body become wrinkled and lose its youthful glow. Therefore, people will continue to spend money on medical aesthetic treatments that can make them look younger with little effort.

According to Global Newswire, the current medical aesthetics market is valued at $61 billion and is expected to grow 9.5% from now until 2030. These statistics show that medical aesthetic services are in great demand, and the market is as strong as ever. Therefore, this is a great time to start a new business in this industry.

 

IV. Customer Analysis

Demographic Profile of Target Market

[Company Name] will serve the community residents of [location] and its surrounding areas. The area we serve is populated mostly by the middle and upper classes; as a result, they have the means to pay for higher-quality beauty care and medical services. The population is also predominantly female, which traditionally is a major customer segment for the industry.

Customer Segmentation

[Company Name] will primarily target the following three customer segments:

• [Founder’s Name]’s current client base: [Founder’s Name] has developed an extensive client base through her years working at local medical spas. Therefore, she will market to this client base first to win them over to her new company.
• Millennials: Millennials are currently at an age where they are raising families and reaching the peaks of their careers. Therefore, they are experiencing incredible stress and other factors that may be affecting their skin and body. They will be eager to work with a skilled medical aesthetician who can help restore their youthful appearance.
• Women: Traditionally, women utilize medical spa treatments more than any other gender. Therefore, much of our marketing will target women of all ages, from high school and college students to women entering their golden years.

 

V. Competitive Analysis

Direct & Indirect Competitors

The following establishments are located within a 10-mile radius of [Company Name], thus providing either direct or indirect competition for customers:

Laney’s Medical Spa
Laney’s Medical Spa is the town’s most popular medical spa and has been in business for 32 years. Laney’s offers a wide array of services that you would expect from this type of establishment, including body sculpting and microdermabrasion.

Though Laney’s will continue to thrive, the most common complaint about this business is that it has become too big. It no longer provides the personal customer service touch it once did and doesn’t have a welcoming or warm environment. [Company Name] will be more attractive to customers who are put off by this by offering a friendly environment and developing a client-based business model.

Fresh Faces
Fresh Faces has been in business for 5 years. Fresh Faces offers extremely high-end beauty treatments that are designed to appeal to the most affluent residents of [location]. This medical spa offers many of the same treatments as other competitors but also adds additional products and extras that bring up the rates significantly.

Though Fresh Faces appeals to the most affluent residents of [location], the prices keep many interested customers from frequenting the business. The treatments at [company name] will be of the same quality but be more moderately priced.

Freddie’s Beauty Spa
Freddie’s Beauty Spa is a spa for everyone. It includes traditional spa services (such as facials and massages) as well as medical treatments (like body contouring, laser hair removal, and cellulite reduction). It’s a large spa with a giant staff to accommodate the needs of everyone who walks in their doors.

Though Freddie’s offers medical beauty treatments, it is only one category of treatments that the business offers. Therefore, the company does not specialize in these services. Customers looking for more skilled aestheticians will be eager to frequent [Company Name] instead.

Competitive Advantage

[Company Name] enjoys several advantages over its competitors. These advantages include the following:

• Location: [Company Name]’s location is near the center of town in a location that is easily accessible by car, foot, or public transportation. We also offer adequate parking making it easy for customers to patronize us.
• Great service at an affordable price: The services offered by [Company Name] are of similar quality to its most premium-positioned competitors. [Company Name] will offer these services at a much more affordable price.
• Management: Our founder has years of experience as a medical aesthetician, so she knows how to operate and market this kind of business. She also is very skilled at her services and provides better quality care than services offered by most competitors.
• Relationships: Having worked as a medical aesthetician for [X] years, [Founder’s Name] has developed a loyal client base, with many former clients already agreeing to frequent the business once it opens.

 

VI. Marketing Plan

You can download our medical aesthetics business plan template (including a full, customizable financial model) to your computer here.

[Company Name] seeks to position itself as a respectable, upper-middle-market competitor in the medical aesthetics market. Customers can expect to receive professional medical beauty treatments from a friendly medical aesthetician that are more moderately priced than luxury establishments.

The [Company Name] Brand

The [Company Name] brand will focus on the company’s unique value proposition:

• Convenient location
• Significant personal attention
• Moderate price point
• Comfortable, customer-focused environment

Promotions Strategy

[Company Name] expects its target market to be individuals living within a 10-mile radius of its location. [Company Name]’s promotions strategy to reach these individuals includes:

Website/SEO
[Company Name] will develop a professional website that showcases pictures of the spa and the services we provide. It will also invest in SEO so that the company’s website will appear at the top of search engine results.

Social Media
[Founder’s Name] will create the company’s social media accounts and invest in ads on all social media platforms. The company will use targeted marketing to appeal to our target demographics.

Publications
[Company Name] will announce its launch several weeks in advance through publicity pieces in multiple newspapers and relevant publications. Regular advertisements will run to maintain exposure to relevant markets.

Customer Loyalty Programs
[Company Name] will create a winning customer loyalty program to keep its best clients coming back again and again. Long-term customers will have the opportunity to participate in the loyalty program, and referrals will be rewarded as well.

Direct Mail
[Company Name] will blanket neighborhoods surrounding its locations with direct mail pieces. These pieces will provide general information on [Company Name], offer discounts and/or provide other inducements for people to visit the spa.

Community Events/Organizations
[Company Name] will promote itself by distributing marketing materials and participating in local community events, such as school fairs, local festivals, homeowner associations, or sporting events.

Pricing Strategy

[Company Name]’s pricing will be moderate, so customers feel they receive great value when patronizing the spa. Customers can expect to receive quality beauty treatments for a more affordable price than what they pay at ultra-premium competitors.

 

VII. Operations Plan

Functional Roles

In order to execute [Company Name]’s business model, [Company Name] needs to perform several functions, including the following:

Service Functions

• Beauty and health consultations
• Body contouring
• Chemical peels
• Laser hair removal
• Cellulite reduction
• Wrinkle reduction
• Skin tightening
• Microdermabrasion

Administrative Functions

• Marketing
• Bookkeeping
• Sourcing and storing products
• Appointment scheduling
• Customer service/cash register functions
• Maintenance functions

Milestones

The following are a series of steps that lead to our vision of long-term success. [Company Name] expects to achieve the following milestones in the following [xyz] months:

 

VIII. Management Team

Management Team Members

[Company Name] is led by [Founder’s Name], who has been in the medical aesthetics industry for [X] years. Throughout this time, she worked for other local medical spas, providing a variety of treatments to hundreds of clients. This has given her the experience and skills to succeed in her own medical spa business.

Furthermore, many of her pre-existing clients have agreed to frequent her new business, which gives [Company Name] a solid starting client base. Though she has never run a medical spa of her own, she will hire personnel to help her manage the operations, financing, and marketing sides of the business.

Hiring Plan

[Founder’s Name] will serve as the Spa Manager but will also provide treatments to her pre-existing client base. In order to launch our spa, we need to hire the following personnel:

• Medical Aestheticians (2 to start)
• Receptionists (1 to start)
• Administrative Assistants (1 to start)

 

IX. Financial Plan

Revenue and Cost Drivers

[Company Name]’s revenues will come primarily from the services rendered and secondarily from the sale of beauty care products.

As with most services, labor expenses are the key cost drivers for spas. Medical aestheticians are paid through a combination of salaries and commissions. This rewards them for their performance and makes them an active part of business retention and development. Additional major cost drivers for the company’s operation will consist of marketing expenses, equipment purchasing and maintenance, and the lease.

Capital Requirements and Use of Funds

[Company Name] is currently seeking $470,000 to launch. The capital will be used for funding capital expenditures and location build-out, hiring initial employees, marketing expenses, and working capital.
Specifically, these funds will be used as follows:

• Store design/build: $250,000
• Medical equipment and supplies: $100,000
• Working capital: $120,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even

Key Assumptions

The following table reflects the key revenue and cost assumptions made in the financial model:

 
5 Year Annual Income Statement

 
5 Year Annual Balance Sheet

 
5 Year Annual Cash Flow Statement