Med Spa

 

Medical spas are booming in the beauty industry. Many people want to enhance their appearance in safe, nonsurgical ways. If you currently own a med spa and want to sell it, or if you’re looking to purchase an existing med spa, Viper Partners is here to help.

No matter your end goals, the Viper Partners team wants to help you achieve them. We’re here to help your practice become successful and provide you with peace of mind knowing you made the right choice trusting us.

 

How to Prepare Staff for Transitioning Period

A lot can go wrong during a transitional period after a practice has been bought out. To prevent things from crashing down, you’ll want to properly prepare your staff for this change. Here are some things you can do to make things easier for the current employees.

Keep Employees Engaged

Current staff should always be aware of when things are changing so they can prepare for it. If something catches an employee off guard, they’ll be more inclined to leave. As you get new information about changes throughout the process, keep your employees engaged and informed.

Make an Emotional and Logical Argument for The Transition

The transition is already hard for the team, so to better prepare them, make sure to set them up for success. They’ll want to understand the reason behind the transition, and you need to have a logical explanation. You’ll also want to make an emotional appeal to the staff, who might not emotionally be on board.

Back Your Words Up with Actions

When you want to make an impact on your workforce during a change, you can’t be all talk and no action. You’ll make more of an impact as a leader when you model the behaviors you’re looking for rather than just talking about them.

Focus on the Culture

Focusing on the culture of the company is crucial during this transition period. For effectiveness, make sure to make most of the existing practice's culture by tapping into how the current workforce already thinks.

Developing a Successful Med Spa

Developing a successful med spa is possible if you have a plan and the right mindset. If you’re ready to start developing a successful practice, follow these helpful tips:

Create a Business Plan

You should never purchase a practice without having a clear business plan first. Going into the whole project blind will most likely end in the business’s downfall. Your business plan acts as a source for you to refer to during the development phase. It helps you stay on target and shows what you should strive for once you open.

Create a Solid Concept

You’ll want to already have a clear idea of what you want to specialize in when you purchase a med spa. Focusing too much on trying everything for everybody will set you up for failure. You also don’t want to offer too little related to the practice. Creating a solid concept that goes with your business can generate revenue and prove your integrity.

Choose Your Staff Wisely

No matter how much time and effort you put into your new business, the wrong staff can drive it to the ground. Successful med spas have professionals with experience in the medical setting and a talent for giving people a healing touch. For better turnover, retain your staff with a positive environment, fair compensation, and opportunity for advancement.

Consider a Development Team

If you know nothing about developing your business, you might want to consider finding someone who does. You don’t want anything to backfire due to incorrect facility design. A strong development team can help you see certain issues before they happen, and it helps builds a practice that enhances your concept.

When it’s Time to Sell

How do you know when it’s time to sell your medical spa? Most people near retirement may consider it, or maybe those who found a better opportunity might need to sell their practice. Knowing when the best time to sell can ensure a successful outcome and a smooth transition.

Think about what’s being sold, determine the practice’s value, and don’t forget about due diligence. Make sure to work with someone familiar with the med spa industry so you can get all the information you need for a successful sale.

Should You Partner with a Private Equity Firm?

Partnering with a private equity firm can be more beneficial to both buyers and sellers. You’ll always have someone who is heavily involved during the process and only wants your best interests in mind.

Are You Interested in Buying or Selling a Med Spa Practice?

We want the best for you, which is why we’re with you every step of the way.

Call Viper Equity Partners today to learn more about purchasing or selling a medical spa!

 
 

“David Branch of Viper Equity is a go getter who is not only honest and reliable, but exceptionally intelligent and knows how to get a deal done. He knows how to bring a business to market to optimize its value.
Viper is number one for a reason.”

—Stephen Greenberg MD, Celebrity Plastic Surgeon

 
 

HOW WE WORK

Featured
contract copy.png

CONTRACT WITH VIPER IN CONFIDENCE

Viper Partners makes the process simple from the start. Our Full Scope contract and confidentiality agreement are designed to set forth an open working relationship, while protecting all parties. We keep all your information safe.

information.png

UNDERWRITING

The Viper Team will work with you to collect all the information needed to get the job done right. This consists of underwriting each deal in house, creating a confidential data room, drafting a business summary, and marketing package. We will create all the essential documentation and analysis necessary to successfully market and close your deal.

web.png

MARKETING OUTREACH

Our Viper Team will develop a comprehensive marketing plan to create interest in your opportunity within our exclusive, proprietary network. The focus is to garner interest only from qualified partners to ensure strategic alignment and get you the best offers.

confidentiality.png

CONFIDENTIALITY ALWAYS

Once marketing starts, there will be lots of information exchanging hands. The Viper Team believes in protecting its client’s information, as well as its contacts and strategies. Our simple non-disclosure agreement (NDA) with each partner puts all parties at ease.

connect.png

INTRODUCTION CALLS

The first step is to have casual conversations to discuss the opportunity with key players. We believe that introductory calls are critical for establishing the potential for collaboration with the right finance parties based on our clients’ respective goals. The Viper Team will coordinate these calls and ensure each are meaningful.

assitance.png

DEAL PRESENTATION

The first series will be done on the phone with groups under an NDA that are interested in the opportunity. At this stage the deal books have been given to them and they will have specific questions to move forward. This is the real beginning of the process.

table.png

IN-PERSON MEETINGS & DEAL PRESENTATIONS

At this point, interest is extremely high. All parties to the potential deal meet to solidify expectations with the objective of moving forward to a formal Letter of Intent (LOI). This is the real beginning of the deal process. In-person meetings and deal presentations will start at this stage. As CIMs are exchanged, specific questions may arise. The Viper Team will facilitate all information exchange.

loi.png

LETTER OF INTENT (LOI)

After an LOI is signed, the due diligence process will begin. Viper Equity Partners recommends that our Clients retain legal counsel to guide them through the closing process. You may need additional support from your accountant, bookkeeper, or office manager. The more organized you are, the easier this critical step is. Viper will support you in post-LOI diligence so it runs smoothly.

money.png

CLOSING AND FUNDING

The closing date will be set, and all contracts are ready to be signed. The objectives of all parties have been met. Based on all the work done in the previous months this process should be without incident and straight forward. Congratulations are in order.

call.png

LOOKING TO GROW YOUR PLASTIC SURGERY PRACTICE?

If you are ready to focus on your plastic surgery practice with an exit plan to make your financial dreams come true and ensure all of your hard work pays off, give Viper Equity Partners a no-obligation, consultation call today.

Contact Viper Equity Partners

Call us now at 305-988-5945 or fill out the form below to get in touch.