Princeton Medspa Partners

Community of the top medical spas in the nation

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Looking to Sell Your Practice? What a Booming Medspa Industry Means for You

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Looking to Sell Your Practice? What a Booming Medspa Industry Means for You

Medspa owners looking to sell, we’ve got good news for you: The industry is thriving.

While medical aesthetics used to be more of a hush-hush industry, in recent years, it has become a mainstream topic of discussion. Patients are becoming more and more comfortable wanting to share their remarkable results with their peers, friends and family. And not only are medspas more popular, but they’re also more profitable than ever.

The current state of the medspa industry, along with indications of future long-term growth, makes now a great time to sell your medspa. As seasoned medspa owners, industry pioneers and financial advisors, Princeton Medspa Partners (PMP) is confident that the industry will continue to grow with no end in sight.

According to the recent 2022 Medical Spa State of the Industry Report:

The medspa industry is one of the fastest growing industries in the United States.

The medical spa industry is a $15 billion industry that employs 70,000 people. It is projected that by 2025, there will be 11,553 medical spas in the country. Over a three-year timespan, the total number of medspas increased by over 30%:

  • 2019: 6,582 medspas
  • 2022: 8,841 medspas
With a growth in demand also comes a growth in revenue.

From 2021 to 2022, the average annual medspa revenue increased from $1,722,551 to $1,982,896. This growth is only poised to soar with the financial forecast estimating the average annual medspa revenue will be between $2,006,725 and $2,310,543 by 2025.

Patients are spending more and visiting more often.

Repeat patients comprise an average 65% of medspa patients, with 35% on average being new patients. The average patient-spend for non-surgical aesthetic procedures exceeded $500 per visit in 2022, compared to an average spend of under $500 per visit in 2019. Not only are patients spending more per visit, but there are also more patients visiting:

  • 2019: 243 average patient-visits per month
  • 2022: 283 average patient-visits per month
In summary, the industry’s financial future looks bright.

Though financials were impacted by COVID-19 in 2020 and 2021, 88% of medspas anticipated revenue increases in 2022 compared to 2021. And 74% of those medspas estimated greater than 10% growth.

PMP is actively seeking out successful medspas as well as providing owners with desirable exit opportunities. If you have a desire to sell, we can help you take the next step in your medspa journey! Reach out to PMP today by emailing us at info@princetonmedspapartners.com.

Medspa Industry Trends: Which Services Are in High Demand?

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Medspa Industry Trends: Which Services Are in High Demand?

Selling your medical aesthetic practice to Princeton Medspa Partners (PMP) comes with serious buying power and advanced educational opportunities for your business. Both services go hand in hand to make sure your medspa is ahead of the curve.

With PMP, you’ll have access to the top technologies at the best prices as well as training and other ongoing educational opportunities to guarantee your medspa provides the highest level of services and stays on the cutting edge of the industry.

We can help advise which technologies and treatments to acquire so that you receive the biggest return on your investment. Let’s look at the top procedures offered in the past year, according to the 2022 Medical Spa State of the Industry Report:

94% of medical spas offered facial injectable procedures.

Botox®, Dysport® and Xeomin® neuromodulators have remained the leading treatments for reducing wrinkles and rejuvenating an aging facial appearance. Since gaining FDA-approval in 2002, Botox is still one of the most in-demand cosmetic procedures on the market. Other popular facial injectables include dermal fillers, Sculptra® and Kybella®.

92% offered other non-surgical aesthetic services.

It’s no surprise non- and minimally invasive aesthetic services are leading this list. Aside from facial injectables, other non-surgical treatments gaining popularity include microneedling, PRP (platelet-rich plasma), dermaplaning, vein treatments, vaginal rejuvenation, thread lifts, IV therapy and weight loss treatments.

82% offered aesthetician services.

This broad category of services includes clinical skin care and beauty treatments such as facials, HydraFacial®, dermal infusion, chemical peels and microdermabrasion. Aesthetician services help maintain and enhance skin’s overall health and radiance over the long term.

76% offered energy-based skin rejuvenation.

Laser skin technologies are constantly improving along with their long list of benefits. The world’s leading laser treatments can help renew skin from within, stimulate new collagen growth and reverse years of sun damage and aging without surgery or lengthy downtime.

67% offered energy-based hair removal.

Laser hair removal has gained popularity as a safe and proven solution for reducing unwanted hair anywhere on the face and body. When it comes to methods of hair removal, non-invasive laser technologies offer the longest lasting results for hair-free skin.

60% offered non-surgical skin tightening.

Non-surgical skin tightening treatments have become a popular alternative to surgery, delivering impressive results with less downtime. Using targeted light energy, non-invasive skin tightening can tighten loose skin on the body while rebuilding collagen for long-lasting improvement.

53% offered body contouring.

A huge pull with non-surgical body contouring is the ability to reduce stubborn fat and/or tone muscle without surgery, scarring or downtime. Non-surgical modalities, such as EMSCULPT NEO®, also have the ability to address multiple problem areas at once.

With the support of our extensive industry knowledge and guidance, PMP can set your medspa up for success. Learn more about joining our community of the leading medical spas in the country by emailing us at info@princetonmedspapartners.com today.

Princeton Medspa Partners Acquires Its Sixth Location with Skintastic!

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Princeton Medspa Partners Acquires Its Sixth Location with Skintastic!

We’re excited to announce that Princeton Medspa Partners (PMP) has closed on the acquisition of Skintastic Medspa located in Spring Hill, Florida. This acquisition brings our portfolio of best-in-class medical spas to six locations!

In addition, PMP has five acquisitions under letter of intent, three franchises open, 27 committed and two franchises opening in early April.

About Skintastic

Skintastic is a state-of-the-art med spa facility in the northern Tampa metropolitan area. Founded in 2011 by Janie Rushnell, board-certified medical electrologist, certified laser specialist and member of The Society for Clinical and Medical Hair Removal, Inc, Skintastic provides the latest and greatest in rejuvenation technology. Skintastic offers the most extensive service menu, complete with facials, massages, injectables, skin rejuvenation, lasers, bioTE hormone replacement therapy, IV therapy, fat reduction and more. Since its opening, Skintastic has been voted Hernando County’s Best Med Spa for five years in a row.

We were so appreciative to hear from Janie regarding her thoughts about selling her beloved practice to PMP. “It brings me great joy and peace of mind to entrust the leading medical spa platform in the nation with Skintastic’s continued success. It will be exciting to see how Princeton Medspa Partners can help our team grow and our patients thrive,” said Janie. “I’m pleasantly surprised with the support and positivity we’ve already received and look forward to many successful years ahead.”

Response from PMP

“Princeton Medspa Partners is proud to add Skintastic to our portfolio of premier medical spas in the country,” said Nick Williams, Princeton Medspa Partners CEO. “By adding Skintastic to our current portfolio of practices, including AlluraDerm MD Med Spa in Albuquerque, New Mexico, Greenspring Medical Aesthetics in Tucson, Arizona and Skin Care Institute in Tulsa, Oklahoma, we strongly feel that we have developed the foundation of a differentiated platform of clinics that will be very attractive for others to join.”

Princeton Medspa Partners President Francis Acunzo also expressed his excitement about the opportunities that lie ahead, saying, “We are excited to build upon what makes Skintastic successful, ensuring the facility stays at the forefront of the industry. We look forward to continuing Skintastic’s growth and maintaining their status as the most trusted med spa in the region.”

At PMP, we’re proud to be a national aggregator of medspas and aesthetic medical practices, focusing our efforts on acquiring and managing provider-owned and driven businesses. To learn more about your medspa opportunities with us, email info@princetonmedspapartners.com today.

Your Roadmap to Success with Princeton Medspa Partners

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Your Roadmap to Success with Princeton Medspa Partners

Once you’ve decided to sell your medical aesthetic practice to Princeton Medspa Partners, there are several key steps to take before the partnership can officially begin. It is one of our main priorities to make this process as seamless and transparent as possible. Here’s a look at our proven roadmap to success for everyone involved:

1. NDA

We will begin with a legally binding contract that establishes our confidential relationship. Our team and yours will sign a mutual Non-Disclosure Agreement (NDA) to protect us both from disclosing sensitive information, including financials.

2. Financials

To determine the valuation of your medspa, we will work with you to clearly understand your financial performance.

3. Q&A

Throughout this process, we will ask you questions and help you normalize your earnings. This means taking out the expenses that will stop once your practice is purchased, which should give you a larger valuation!

4. Medspa Visit

At this point in the process, our team is ready to visit your practice for a first-hand look.

5. Letter of Intent (LOI)

We’ll then make you an offer with a letter of intent (LOI) outlining the price and terms. This letter is non-binding until the final purchase documents are executed.

6. Due Diligence

Once you have signed a LOI, we will enter a process of due diligence, fully analyzing your business from a financial, operational and legal vantage point. During this process, a third-party firm will perform a Quality of Earnings (QOE) to verify the financials.

7. Legals

Once due diligence is completed, you and your lawyer will review the final legal documents.

8. Closing

Once all legal documents are signed and funds have exchanged hands, the transaction is closed, and the partnership begins!

We are eager to get this process started! To learn more about joining our community of the top medical spas in the nation, email us at info@princetonmedspapartners.com today.

Get To Know Our Industry Experts: Q&A with Nick Williams

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Get To Know Our Industry Experts: Q&A with Nick Williams

Nicholas Williams, Chief Executive Officer of Princeton Medspa Partners, brings a depth of knowledge and experience working in healthcare and medical device industries into his current role. Throughout his career, Nick has developed a proven track record of growing and leading successful companies as chief executive.

We took the time to ask Nick about his career in healthcare, his outlook on Princeton Medspa Partners and his goals for the future of the company:

Q: What drew you to the healthcare field, and specifically, to the medspa industry?

A: I love the dynamics of the private pay healthcare sector. Insurance reimbursement changes and continued network access can impose unforeseen difficulties on small healthcare companies. Medspas are largely insulated from this concern, and therefore control their own business destinies.

Q: What do you believe makes a company successful?

A: A moral leadership structure where all members of the company feel empowered.

Q: What do you think is PMP’s biggest strength?

A: PMP’s biggest strength is its people. We are made up of industry veterans who are household names in the medspa market and that truly understand the business.

Q: Why is now the right time to sell your medspa?

A: Many medspa owners are exhausted from dealing with the challenges of both COVID-19 and the post-COVID world. Crystallizing the value of their clinic in the form of a sale now makes a lot of sense to many medspa owners, as it allows them to take the proceeds of the sale and diversify that value into other investments.

Q: What level of growth do you hope to see for PMP in the next five years?

A: The sky’s the limit with this company — I am confident that we will be north of 100 clinical locations five years from now.

Learn more about forming a lasting partnership with Princeton Medspa Partners by calling us today at 1 (866) 241-1238 or sending us an email at info@princetonmedspapartners.com.

Selling Your Medspa To PMP: One of the Smartest Business Moves You’ll Make in 2023

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Selling Your Medspa To PMP: One of the Smartest Business Moves You’ll Make in 2023

We know the year just started, but we’re already focusing on the possibilities that lie ahead — and you should be too! There’s so much opportunity for growth and success in 2023, especially in the medspa industry. If you’re looking for a smart move to make for your medical aesthetic practice, look no further than joining Princeton Medspa Partners’ community of the leading medical spas in the nation.

At PMP, our mission is to forge lasting, successful partnerships. Exploring your medspa opportunities with our unprecedented team of aesthetic pioneers and thought leaders comes with its fair share of advantages, including:

1. Industry-related marketing expertise

Your business deserves the best the industry has to offer, and that’s what you’ll get with PMP’s team of industry experts. What makes our marketing experts stand out from the rest is that they’re also aesthetic experts who specialize in marketing to medspa consumers. They know what it takes to be successful in this industry, from building a recognizable brand to cultivating a thriving and loyal client base. With their knowledge and passion, our marketing professionals can offer the marketing strategy and communication that will lead to your medspa’s success.

2. Access to best-in-class technologies

What’s a successful medical aesthetic practice without the industry’s leading technologies? Consumers are looking to get the best results possible with the most effective, safest treatments available. When you partner with PMP, you’ll have access to the top technologies at the best prices. Our decades of industry experience translate into serious buying power, and we will use that to make sure your practice provides the highest level of services and stays on the cutting edge of the industry.

3. A proven track record of success

With each successful acquisition, PMP takes great pride and responsibility in providing both a smooth transition and a positive outcome for all parties involved. When you sell your medspa to PMP, you’ll be supported by a crew of industry experts who want to see you and your team flourish. It has been so fulfilling to hear from our acquisitions about their experience selling to PMP, including this recent testimonial from AlluraDerm MD Med Spa in Albuquerque, NM:

“In the beginning of the acquisition, we didn’t know what to expect or what it would look like being under new ownership with Princeton Medspa Partners. We were happily surprised that they were very clear and honest with everything. They were happy to answer any of our questions and they listened to what we needed. PMP brings such positivity and knowledge to the table, but their goal is not to come in and change everything, instead they want to learn what has worked to make us successful and help with anything that needs improvement. PMP has helped AlluraDerm grow and has also helped all the employees grow within their positions.” – Desiree from AlluraDerm MD Med Spa

Making the first move in the right direction starts by calling us today at 1 (866) 241-1238 or sending us an email at info@princetonmedspapartners.com. We can’t wait to help your business succeed in 2023 and beyond!