The $4 Billion Medical Spa Industry is Emerging as a High Upside Franchise Opportunity
It’s not enough anymore to look good. You need to feel good.
You’ve probably noticed that. Appearances have always been important, or at least for a long time – the first mirrors were construction about 8,000 years ago — and never more so in the social media era, when people are posting photos of themselves and fearing ageism at work. But people have come around to the idea that you need to feel good, too.
That’s why the medical spa industry has really taken off in recent years. Let the conventional spas give you a conventional haircut; the medical spas will give you a laser hair removal treatment – as well as services such as body contouring, vaginal rejuvenation, and, yes, facials.
And that’s why if you’re looking for a franchise opportunity, you may want to take a look at the Beverly Hills Rejuvenation Center. The medical spa industry is growing in a big way, and while we may be biased, we think we can make a pretty strong case for franchising with BHRC.
The industry is growing. According to the American Medical Spa Association’s 2017 Medical Spa State of the Industry Report, the medical spa industry has been posting double digit revenue gains since 2010, to the point where it’s almost a $4 billion industry ($3.97 billion to be exact) – and will grow an additional 8 percent by 2020, and by 2026, it’s expected to hit $6 billion.
It’s also growing in ways that you likely wouldn’t expect. As AmSpa’s report points out, even though the senior citizen group is growing as a medical spa customer base, so are younger Americans: “In fact, according to the American Society for Aesthetic Plastic Surgery (ASAPS), people ages 35-50 had the most procedures performed in 2016—more than 5.3 million, accounting for 39.3% of the total; people ages 51-64 came in second with 30%.”
You don’t have many franchise competitors – yet. There are very few medical spa franchises out there. According to numbers that we’ve seen, fewer than 3 percent of the medical spa businesses out there are franchised – most are mom and pop type operations. That means there’s a lot of room for a medical franchise such as Beverly Hills Rejuvenation Center to grow, and few trusted names out there for consumers who are wary of getting treatments from a small outfit they know little about. And don’t take our word for it. The aforementioned report we’ve mentioned says, “The practice of franchising is not yet popular in the medical spa industry; however, this may well change in the next five years… In the coming years, franchises promise to play a significant role in the quickly evolving landscape of the medical spa market.”
In other words, you can get in now with a leading, thriving medical spa franchise – while there’s a lot of room for grow and a chance for you to establish your business – or you can wait until somebody else has bought the territories you would have and all of your competitors have already set up shop.
The industry needs highly trained employees. When you’re dealing with chemicals (think: a chemical peel) and hormone replacement therapy and Botox injections, do you want somebody who isn’t trained to be doing it? Obviously, no. In fact, it would be nice to have a doctor on staff (as every BHRC franchise does), but unfortunately, some spas sometimes delve into medical procedures they simply shouldn’t do – and wind up in trouble with the law. That’s yet another reason to consider becoming a BHRC franchise; we have a hiring and training system ensures that your employees will be fully equipped to carry out the company’s services.
The industry has a lot of legal pitfalls. Fortunately, states are starting to more heavily regulate the medical spa industry, which is welcome news – for customers and for the reputable companies like ours that have high standards. It’s not the best development, perhaps, for the shady outlets that cut corners and want to make a fast buck.
In any case, if you’re going into the medical spa industry, this isn’t like opening up, say, a store that sells T-shirts. This is a serious business that can have severe consequences if you and your employees don’t know what you’re doing. It helps to have the right insurance policy that understands the medical spa industry, and it helps to have legal counsel and know what national, state and location regulations you may or may not run afoul of.
For instance, you may like the idea of serving a complimentary glass of wine during a CoolSculpting fat freezing session – but some states require an alcoholic beverage license when doing that (and many don’t). In other words, if you want to be in the medical spa industry but don’t want the stress of wondering if you’re properly insured or constantly about to get in trouble with the law, then you want to be a Beverly Hill Rejuvenation Center franchise owner. We will guide you past the potential pitfalls – and help you become the successful medical spa that you’re envisioning.
Hopefully you’re daydreaming big – because you should be. This is an exciting, vibrant industry that pays well and, when you do it right through a proven system such as ours, it has the benefit of helping people look and feel better. Knowing you have a company that’s doing some good in the world should reduce your stress and let you sleep well at night. Even without using the services at your own BHRC, that’s bound to make you look and feel better.
If you are interested in learning more about the medical spa industry and becoming a partner, contact us at (310) 579-6416 or firstname.lastname@example.org.