Ready to Sell Your Med Spa? Here's What You Need to Know!

Today, we’re diving deep into a topic that’s been buzzing among many of you: Selling Your Med Spa

In This Ready To Sell Your Med Spa Episode We'll Cover:

  • When Should You Start Planning Your Exit?
  • Key Elements to Enhance Your Med Spa's Value
  • Types of Buyers for Your Med Spa 
  • The Consortium Advantage
  • Avoiding Common Pitfalls

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Today, we’re diving deep into a topic that’s been buzzing among many of you: selling your med spa.

We’re thrilled to have Clint Bundy, Managing Director of the Bundy Group, here to shed light on what you need to know about selling your practice. Whether you're considering selling now or just planning for the future, this interview is packed with valuable insights.

Sell Your Med Spas for Top Dollar with these Key Elements:

  • Recurring Revenue: Having a steady stream of recurring revenue, whether through memberships or auto-ship products, significantly boosts the value of your practice. This recurring income provides stability and makes your business more attractive to potential buyer.
  • Growth Potential: Buyers are interested in the future potential of your business. Demonstrating a consistent growth trajectory and having robust lead generation and conversion systems in place can make your practice more appealing.
  • Strong Team and Culture: A skilled and stable team with a positive culture is crucial. High employee turnover can be a red flag for buyers, while a dedicated team can enhance the attractiveness of your business. 
  • Modern Facilities: Ensuring your facilities are up-to-date and aesthetically pleasing is important, especially in an industry where client experience matters greatly.

There are 3 Types of Buyers When You're Ready to
Sell Your  Med Spa

There are two main types of buyers:
  1. Strategic Buyers: These are usually existing companies in the aesthetics space looking to expand through acquisition.
  2. Financial Sponsors: Often referred to as private equity groups, these buyers are looking to invest in promising businesses and grow them over time.
  3. Owner Operators: An individual that would like to purchase the business and run it themself.

Interestingly, many strategic buyers today are backed by financial sponsors, combining the strengths of both types of buyers

The Consortium Advantage When Selling Your Med Spa

A consortium is an innovative approach where multiple practices band together to sell as one entity. This strategy can significantly increase the overall valuation, as larger, more substantial groups tend to attract higher offers from buyers.

Avoiding Common Pitfalls

Preparation is key to a smooth sale process. Clint recommends:

  1. Early Engagement: Start conversations with advisors, such as the Bundy Group, well before you plan to sell.
  2. Detailed Financial Records: Consider having a transaction accounting firm conduct a quality of earnings report to ensure your financials are accurate and appealing to buyers.
  3. Competitive Bidding: Creating competition among potential buyers can drive up the value of your practice and ensure you get the best deal.

Takeaway: Even if you do not plan on ever selling your medical spa.  Build your practice as if you wanted to sell for TOP DOLLAR!

Ready to Explore Selling Your Med Spa?

If you're considering selling your med spa or simply want to know more about your options, Clint Bundy and his team at the Bundy Group are here to help. They offer free evaluations and insights to help you understand the value of your practice and prepare for a successful sale.

You can contact Clint directly at clint@bundygroup.com or visit their website at Bundy Group. Additionally, Clint has put together a helpful survey to assess your practice’s readiness for sale. You can find it at MedSpa Growth and Profitability Bundy Group.

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Conclusion

Selling your med spa is a significant decision that requires careful planning and expert guidance. With the right preparation and support, you can maximize the value of your practice and find the perfect buyer. Don’t miss the opportunity to learn more from Clint Bundy at the upcoming MedSpa GrowthCon and stay tuned for his live stream event!

If you found this information helpful, be sure to join us at Med Spa Growth Con for more expert insights and connect with industry leaders like Clint Bundy.

Guest Expert Clint Bundy - Guest Expert on Selling Your Medical Spa

Profile picture of Clint Bundy blue shirt with dark blue jacket. Expert speaker for Sell your Med Spa

Clint Bundy,
Managing Partner | Bundy Group

Clint Bundy has more than 20 years of investment banking experience and is based out of Bundy Group’s Charlotte, NC office. Clint has advised clients in a variety of industries, including controls & automation, healthcare, technology & business services, industrials, and energy & infrastructure.

Previously, Clint worked with Wachovia Securities’ Mergers & Acquisitions Group, where he advised on numerous publicly and privately held transactions. During his time there, he worked across a wide range of industries, and his transaction ranges included middle market to multi-billion-dollar transactions. 

Prior to investment banking, Clint worked at Accenture, a technology and consulting services firm, where he served as a project financial controller both stateside and internationally.

Clint received his Bachelor of Arts in Government and Economics from The University of Virginia and is a graduate of Wake Forest University’s MBA program as a Dean’s Scholar. He is FINRA Series 7, 24, 63, and 79 registered with Bundy Group Securities, LLC, member FINRA. In 2014, Clint was recognized as a ‘40 under 40′ selection by the Charlotte Business Journal.

Outside of work, Clint has served on the advisory council for the Boys & Girls Clubs of Greater Charlotte, and he enjoys spending time mountain biking and skiing with his wife and kids.

If you found this information helpful, be sure to join us at Med Spa Growth Con for more expert insights and connect with industry leaders like Clint Bundy.

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