The aesthetics medicine market is a rapidly growing niche, and is expected to grow 13.8% through 2030. With rapidly increasing demand for minimally invasive and non-invasive procedures, as well as growing interest in plastic procedures, opening a space catering to high-end aesthetic medical clients can be an excellent investment. Medspas on average earned $2m annually in 2022, a number set to increase as awareness does.
Here’s why opening a high-end aesthetic medical suite should be on your radar.
High Initial Costs are Quickly Recouped
Aesthetic medicine spaces can cost from mid-six figures all the way into the multiple millions to open, with real estate, specialty equipment, and high-end buildings accounting for the bulk of the cost. However, high earning potential together with high profit margins of 20-30%, as well as the ability to set prices independently, allow for well-managed medspas to quickly become profitable. Additionally, it is an unconsolidated industry that’s private pay-based and recession-resistant – putting you in a powerful place to recoup costs and potentially tap investors for future expansions.
MedSpas Attract a Premium Patient Base
Appearances aren’t everything, but they’re a huge part of your brand proposition. A high-end aesthetic medical suite signals that you’re targeting a specific audience with best-in-class therapies and treatments, and that you’re mindful that the patient experience is essential to their quality of care. If you’re working in plastics, cosmetics, or aesthetics, conveying a spa-like vibe is vital for attracting patients and competing with other high-end providers. A high-end promise makes it possible to bill accordingly, ensuring stable income for your practice.
A Growing List of Treatments and Therapies
Aesthetic medical providers have a wealth of treatments available to tap into based on the specific demographics and needs of patients in their area. Among the most profitable services are injectables, laser treatments, and body contouring; providers can also offer medical-grade skincare retail products to boost bottom lines. When developing a menu of treatments, consider what competitors are offering, and look to differentiate your space with lesser-known treatments, cutting-edge technology, or by exploring complementary wellness options such as nutrition- or movement-based options.
MedSpa Patients are Repeat Visitors
Aesthetic medicine businesses benefit from strong patient loyalty and repeat visits. Many treatments, for example, injectables or regenerative aesthetic treatments, require ongoing touchups, ensuring that patients continue to visit every three or four months. Packaging multiple therapies together and offering personalized plans with subscriptions or loyalty programs can encourage repeat visits and strong referrals.
Maximize Your Aesthetic Medical Suite ROI with Our Help
No one understands the unique needs of aesthetic medicine practitioners like Gittleson Zuppas Medical Realty. With decades of experience serving the nation’s medical experts, we can help identify the ideal space for your medspa and negotiate a lease that supports your build-out while guiding you towards speedy profitability. If you’re weighing the ROI of an aesthetic medical practice in a location such as 2440 M Street NW, contact our team today for a detailed overview of how we can help turn a dream into a thriving business.