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According to the International Medical Spa Association there are over 1,000 open medical spas in the U.S. Jeff Russell, CEO of MedSpa Financing says, “Competition is definitely setting in, and it’s not only direct competition from other medical spas, but indirect competition from businesses that offer the same services. You have salons that offer hair removal, day spas that offer dermal filler injections, and mall outlets that offer microdermabrasion.

If you are going to not only succeed, but thrive in this new environment, you are going to have to be better than your competition. Following these 5 tips will help you get that extra edge you’ll need to stay ahead of the pack.

1: Are you marketing to the right customer?
First and foremost, you need to look at your current customers and ensure your medspa is operating at capacity.

2: Get to know your neighbors
Do you know all the businesses surrounding yours? You may need to take another walk around the neighborhood, and see what new business building opportunities are available. As you are walking around, ask yourself these questions: Do they compliment my services? Can we help each other increase business by referring customers between us?

3: Network within your community
Many people associate networking with schmoozing. As a MedSpa owner, you need to always be networking. Where to network? There are many places from the local chamber of commerce, community groups, industry associations, or you can join a board or peer group.

4: Develop your communication skills
As a MedSpa owner, you interact with people everyday: staff, clients, suppliers, and the media. If there is one thing you need to master, it’s your communication skills. You need to be able to clearly articulate your key message consistently.

5: Recharge regularly
Quite often you are so focused on your customers, you forget about yourself. As a Medical Spa owner, you are going to find yourself absolutely drained. How are you going to grow the business? Should I advertise with this magazine? I just don’t have enough time. You need to achieve a balance between the MedSpa and your personal life.

“As you develop and grow your Medical Spa you are going to experience the same growing pains common to any new business, the key is identifying them and responding to them” says Russell. By following these 5 tips, you will see your revenues increase.

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