Spa-Business

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Recession Proof Your Medical Spa

Industry Experts Agree: Medspas Must Alter Their Business Strategies To Find Success In Today’s Economy.

Fortunately for medspa owners, current economic conditions have impacted their industry less than many other business sectors. Still, many medspas have seen their revenues dip by 10-20% during the last 12 months and others have had even worse results. Med Spa Closings Despite the industry figures, a number of medspas across the country are flourishing, increasing revenues and their bottom line. The successes mark a trend in the industry…the ‘cookie cutter’ approach is not working the way it did when the economy was stronger, but there is still great success to be had if companies make some strategic changes.

“It’s a matter of structuring your business in a way that responds to current market conditions”, says Dee Deluca-Mattos, President of the Medical Spa Society, a not-for-profit organization dedicated to the advancement of the medical spa industry. “By making a few key changes, we have seen some medical spas do very well, even doubling their revenues, while other locations that simply ‘stay the course’ are languishing.”

The Medical Spa Society introduces industry expert, Francis X. Acunzo CEO of Acara MedSpas to present a Webinar that focuses on how to manage your business in these changing times, “Recession Proof Your Medical Spa”.

“I have personally and successfully weathered 2 recessions owning and operating Spas and Medical Spas in the US. I look forward to sharing my insight and wisdom on how to recession proof your medical spa.” states Francis X. Acunzo.

About the Medical Spa Society:
The Medical Spa Society is a not-for-profit organization dedicated to raising and upholding the level of professionalism practiced throughout the medical spa industry through professional and consumer education. The Society’s mission is to promote education, communication and standards of excellence for the medical spa profession. They are committed to providing educational forums that allow the industry to stay informed about the latest innovations and cutting-edge developments in the spa and medical fields.

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Tags: Building Med Spa Business, MedSpa, Medical Spa by Spavelous
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This article is brought to you by Spavelous.com.

 http://www.spavelous.com

Core Dimension Training and Corporate Realty Advisors announced an agreement centered on providing national real estate consulting services to physicians offering medical aesthetic services in their respective markets.

 announced an agreement centered on providing national real estate consulting services to physicians offering medical aesthetic services in their respective markets.

Core Dimension Training is one of the nation’s leading aesthetic practice management companies. James Finnegan, Bruce Vermeulen and Paul Herchman are the Managing Partners and have extensive experience in the med-spa industry as owners, investors, managers, financiers, vender’s and consultants. They have been involved in hundreds of aesthetic businesses in the US and have an in-depth understanding of the economics and key business drivers of aesthetic businesses. Corporate Realty Advisors’ unique expertise and consulting platform in working with physicians in the development of aesthetic centers located in multi or single tenant real estate developments has enabled Corporate Realty Advisors to become one of the nation’s most respected commercial real estate consulting services company.

Paul Herchman said, “Today’s economic and aesthetic environment is changing. Now more than ever physicians must understand the details of revenue enhancement programs and the legal/operational aspects of their business. We have worked with Corporate Realty Advisors on numerous occasions in the past and we are confident that they will continue to provide our customers with the most accurate market knowledge, generating the best real estate course of action, facilitating the most favorable terms, and mitigating the physician’s exposure.”

Jay Rigelsky and Clint Dansby stated, “Corporate Realty Advisors is extremely excited to be working with Paul and Core Dimension Training.

Like Core Dimension Training, Corporate Realty Advisors strives to continually place client’s immediate needs at the forefront, while providing forward thinking strategies facilitating the client’s long term objectives. Our Medical Services Consulting Group has developed an individual services platform that generates unmatched negotiating leverage while successfully reducing exposure for the individual doctor or physician group. We are dedicated to exceeding the needs of the Core Dimension Training customer.”

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Tags: MedSpa, Medical Spa, Spa Management Training, Spa Opening, Spa Real estate by Spavelous
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BANKRUPTCY FILING

As the economy slows, the nationwide Solana chain of 50-plus franchised medical spas has locked its Irvine headquarters, filed for Chapter 7 bankruptcy, shut down its Web site, and disconnected its phone.  Their website indicates that another site is being developed by Higher Images.  Higher Images is a SEO and Internet Marketing and web design company.

The following is from a Medspa Blog:

Solana Medspas is out of business?

Sunday, June 29, 2008, 10:15:16 AM | Jeff Barson

Neither the company’s chief executive, William Maya, nor its bankruptcy attorney could be reached for comment.

The company founder, John Buckingham of Mission Viejo, said he sold Solana on Nov. 20 to a private equity company in San Clemente and could not speak in detail about its current status.
Buckingham remained a director of the company, which helped entrepreneurs set up medical spas that provided spa services plus non-invasive cosmetic medical procedures such as Botox injections.

As recently as March, Buckingham predicted that the nation’s economic slowdown would help Solana MedSpas by freeing up new retail locations for its medical spas.
In an interview with CNN/Money, he said he was “excited about taking advantage of this year’s store vacancies to open another 20 locations in malls.”

At that point, he said Solana had 50 spas “located in upscale strip centers and lifestyle centers, which are typically open-air malls.”
In May, Solana struck a deal with cosmetic-laser company Cutera Inc. of Brisbane, Calif., which declared Solana the “preferred provider” for its products at medspas nationwide.
That announcement said Solana “has sold over 70 stand-alone retail med spas with others scheduled to be opened in 2008” and had established a new division, Solana MD, to open aesthetic spas in doctors’ offices.
Solana’s filing said it had $370,028 in liabilities but assets of only $11,713.

FRANCHISE ADS

Solana MedSpa franchises are still listed as for sale on franchising Web sites, with a total investment of $400,000 to $780,000.

The Franchise.com site, for example, says:
Solana MedSpas has forged a new medical spa model by combining cutting-edge aesthetics and wellness technologies with traditional spa therapies in a retail environment.
In a short period of time, Solana MedSpas has become a nationwide leader in medical spa development with a growing network of uniquely branded medical spas. With an emphasis on regulatory compliance, healthcare innovation, education, marketing and customer service, Solana MedSpas has emerged as the fastest growing developer of MedSpas in the US.

The Chapter 7 bankruptcy filing means that the company will be liquidated, not reorganized.

BANKRUPTCY DETAILS
Solana’s current owner is Strategic Connections L.P., which is listed in the July 7 bankruptcy filing as “c/o WEM Management Company, 422 Avenida Salvador, San Clemente.”
The company’s largest listed creditor is its owner, which had floated it a $160,000 loan.
Solana said it had income of $456,989 so far this year from its consulting services to owners and operators of spas.
It paid Maya $161,112 in salary from Nov. 24, 2007, through June 24, the bankruptcy filing said. Buckingham’s salary for that period was $148,918.
The one company-owned medical spa, Resolutions, A Solana Medspa, also filed for bankruptcy under its legal name, Solana Medspa Development LLC.
The Resolutions medspa, located in a Rancho Santa Margarita shopping center, closed suddenly two weeks ago without explanation, said a hairdresser working in the adjoining hair salon.
The medspa listed assets of $11,713 and liabilities of $121,329. It cited $0 as the value of its unsold inventory of cosmetics, cosmeceuticals and Botox, which were purchased for $51,388.
Irvine-based Allergan, the maker of Botox, is its largest creditor. The medspa owes Allergan $49,260, the filing said.
The Resolutions spa had income of $225,555 so far this year, its filing said.

Tags: MedSpa, Medical Spa, Spa Bankruptcy, Spa Closing, Spa Closings by Spavelous
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