Warren B. Seiler III, MD
John Di Saia, MD
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Shervin Naderi, MD, FACS
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Dr. Kevin D. Light
Stephen Weber MD PhD
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AestheticRN posts these medspa statistics in a discussion thread here:
31% of income is generated by hair removal
42% of the medspas polled generate 0-$99k gross per year.
35% of the medspas polled see between 1-19 people per week.
52% of the medspas reported the biggest challenge was getting and keeping clients.
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4 Comments
Reader Comments (4)
By these stats you would think my spa was doing phenomenal.
In our secound year, we have generated almost $800k in rev. Far and away from $1-$99k.
We see approx 100 patients/week.
So why am I struggling to make this work?
Matt
I guess you need to look back at start up costs and current overhead. 100 pts/wk is a very nice number for any med spa. What are you spending your money on? The only thing I could think is if you spend 500K on advertising then you have a problem.
matt,
My assumption is that you have too much overhead and are offering products and procedures with a low profit margin. At $800k you should be doing great especially in only 2 years.
You may want to look at the 100 patients coming in and see what percentage are coming in for low priced procedures. If the majority of patients are coming in for things like facials etc then you need to spend more time and marketing on your higher profit margin procedures.
If I had 100 patients per week coming in the door, I would be doing at least 1.2 million in revenue. So you need to look at your books and see exactly what revenue each procedure is producing and what your costs for each procedure are. If you are not making money on them either raise your prices or stop doing the procedure.
Easily the biggest challenge we face. I'll be happy when Med Spa MD launches the SEO guide if it's not cost prohibitive.