Medical aesthetic spas, also known as medspas or medispas, are becoming increasingly popular in the United States. The rise of medspas along with increasing aesthetics and wellness market opportunity is posed to fuel the franchising industry. Read below to learn why.
What is a medspa?
A medspa typically combines non-invasive medical aesthetic treatments, such as Botox injections, dermal fillers, laser hair removal along with other traditional types of aesthetics and wellness services such as hair, skin, nail, lash and massage. Consumers of aesthetic treatments enjoy the medspa/aesthetics & wellness spa business because it is often offered in a more relaxed environment compared to a clinical setting of the plastic surgeons office, for example. As well, a good medspa/aesthetics spa may offer many incentives and perks (discounts and free champagne anyone?) for visiting regularly which provides a great value-proposition to the guest client.
Growth of Medspa/Aesthetic & Wellness Industry
The unique medspa/aesthetics & wellness spa business model has captured the attention of consumers fueling the growth of the medspa industry. It is believed that consumers increased awareness and importance of self-care in recent years is contributing to the success of medspa businesses. People are investing more in their health and well-being, and they are looking for convenient and accessible ways to do so. Medspas/aesthetics and wellness focused businesses can provide a one-stop-shop for a variety of treatments, making it easy for people to take care of their skin, body, and overall appearance.
Increasing Popularity of Minimally-invasive Treatments
One of the key drivers of the rise of aesthetic spas is the awareness of and the demand for non-invasive cosmetic procedures. With the ever-evolving new technology and treatments for aesthetics, along with well-publicized treatment outcomes and offerings all over social media, people are learning that they can achieve great cosmetic results with little to no downtime, making these treatments more acceptable and more accessible to the masses as an appealing alternative to traditional invasive procedures such as plastic surgery.
Franchising Opportunities for Mespa/Aesthetic & Wellness Spas
The medspa industry is expected to grow and it will be able to benefit from the franchise business model to grow quickly within brand franchise systems. Previously, the medspa business has been very fragmented. According to the American Medical Spa Assocation, AMSPA’s 2022 Medical Spa: State of the Industry report, there were only 8,841 medspas in the United States in 2022, and of these medspas 81% of them are single location brands. However, that is changing today.
Franchise brands are emerging to offer medspa opportunities to a growing number of entrepreneurs. Franchise system offerings will be advantaged if they can show diverse revenue streams, a profitable business model, continued annual growth, and a successful recurring revenue membership model in order to retain and grow their client base.
Appeal of Medspa/Aesthetics & Wellness Franchise Opportunities
Many entrepreneurs are drawn to the medspa franchise opportunity because it offers a proven business model and support from experienced medspa business franchisors as well as potential for high earnings. The AMSPA report states the average medspa annual revenue in 2022 was $1.9 Mil. However, for business owners who are not medical professionals (and even if they are), the learning curve to create a medspa/aesthetic & wellness spa which is successful in the market can be quite steep.
Franchisor's Role in Development of Medspa/Aesthetics & Wellness Business
Medspa business management can be complex with the need to organize a professional medical entity to oversee the qualifications of licensed medical professionals, develop beneficial relationships with medspa product suppliers, develop expert teams and training for the business, learn effective marketing strategies, understand and choose the best growth strategies for the medspa business with energy devices and so on. Therefore, the franchisees will benefit from the franchisor's expertise in areas such as marketing, product development, equipment choices, employee development, sales training, best practices and operational support.
Medspa/aesthetic & wellness franchisors with a differentiated brand can help franchisees get up and running quickly and overcome any challenges they face along the way. They can also be invaluable in keeping up with industry trends and can help the franchisee business to continue to evolve and innovate to meet changing consumer demand and stay ahead of the competition.
In conclusion, the rise of medspas/aesthetics & wellness spas reflects a growing trend in the health and wellness industry. People are seeking convenient, non-invasive, and accessible ways to enhance their appearance and improve their well-being, and these innovative and modern businesses are meeting this demand. With continued growth and franchise systems available to support entrepreneurs in realizing their dreams of business ownership in the aesthetics and wellness industry to own their own medspa, the medspa industry is poised to become an even more significant player in the health and wellness sector.
Glosshouz spa franchise was founded in 2016 in Denver, CO metro area and began offering franchises in 2023. If you'd like to learn more about the Glosshouz Spa Center Franchise business offering, visit https://www.franchise.glosshouz.com
or email directly to franchise@glosshouz.com
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We would love to talk to you more about our beautiful and rewarding Glosshouz spa business franchise opportunity. Don't hesitate to reach out, and we look forward to speaking with you soon!