Selling a Med Spa With the Help of A Med Spa Broker
Whether you’re looking to retire, pursue new opportunities, or simply transition out of the business, understanding the intricacies of selling a med spa is crucial for a successful transaction.
At Triumphant Transition Partners, we carefully walk you through each step of the process, from assessing the value of your med spa to transitioning out of the business seamlessly.
Our Process
From Marketing to Post-Sale Support
Strategic Marketing
Effective marketing can increase your sale price by up to 30%. We promote your med spa listing across online platforms and industry networks, highlighting your unique selling points.
Due Diligence on Buyers
Once potential buyers are identified, we conduct thorough due diligence to verify their financial capability and intentions. This minimizes risks and safeguards the integrity of your sale.
Negotiation Expertise
Negotiating the sale terms requires skillful communication. We facilitate discussions on price, payment structures, and transition plans, ensuring a fair outcome for all parties involved.
Finalizing the Sale
Once terms are agreed upon, we help finalize the sale agreement and transition plan, including the transfer of licenses, permits, and contracts, ensuring a smooth handover.
Post-Sale Support
After the sale, we provide guidance on post-sale strategies. From supporting the new owner to maintaining client relationships, we ensure a seamless transition.
Why Choose Us?
Expert Guidance Every Step of the Way
Selling a med spa can be complex, but with Triumphant Transition Partners, you won’t have to navigate it alone. Our experienced team provides tailored support throughout the process, ensuring you achieve the best outcome. We bring deep industry expertise, allowing us to position your business effectively and attract the right buyers.
Our comprehensive valuations help you set a competitive price that truly reflects your spa’s value, while our customized marketing strategies highlight your unique strengths. With skilled negotiators on your side, we work to protect your interests and secure favorable terms.
Awesome experience with great team!! Decisions like these can be life changing and I feel very lucky to have crossed paths with Triumphant! Nate, Carlo, and the rest of the team were awesome! I’d do it again and feel blessed for what’s ahead!”
Recent Transactions
At Triumphant Transition Partners, our team has assisted countless dentists and medical professionals in facilitating the sale of their dental practices, medical practices, or med spas. Here are a few of our most recent transactions and satisfied clients.
Memphis, TX
We are pleased to announce another triumphant closing between Dr. Blake Billups and GPS Dental in Memphis, TX.
This was an extensive process with highly competitive and qualified offers. We were able to secure over 270% of collections for our client.
We are thrilled for Dr. Billups and the GPS family.
Memphis, TN
We are pleased to announce another successful transition between Shipmon & Bell and GPS Dental in Memphis, TN.
This was a seamless fit for both parties, and it is exciting when you can align a great client with the right fit. We had over eight offers and over a 7.9x, and we knew as a team the best match for this specific transition.
Congratulations to Dr. Todd Bell and his team.
Central Florida
The Marion Dental Group in central Florida closes on Friday.
Dallas/Ft. Worth
We are thrilled to announce another triumphant transition: Dr. Sonya Reddy of Smileup Dentistry is transitioning her practice to Dr. Diana Lopez. What excites us about this deal is that besides the continued patient care; from the day Dr. Reddy enlisted our firm until funding, it only took 60 days total. That includes discovering, gathering pertinent information/documents, underwriting, procuring a buyer, LOI, lease reassignment, agreed-upon agreements, and funding.
Thank you for entrusting your practice to us, Dr. Reddy, and congratulations to Dr. Lopez.
Houston, TX
We’re excited to announce the successful partnership between our client, Dr. Barry Heaton, in Houston, TX, and Dentive, a doctor-centric DSO group.
After careful consideration and receiving multiple bids, Dentive emerged as the ideal match. During due diligence, Dr. Heaton’s Perio practice experienced record production months, and we secured additional cash in the hundreds of thousands in true-up.
Greater Kansas City, MO
We are thrilled to announce the partnership with our client Dr. R and Apex Dental Partners as they enter the greater Kansas City, MO market and continue expanding their footprint.
We cannot thank Apex Dental Partners enough. They were aligned and dedicated to the entire process from start to finish, which shows the value they bring to all their partners. It was an absolute pleasure, and congratulations to our client for ensuring his patients, team, and family have the best clinical support and perfect exit strategy when that time comes down the road. Both our client and Apex shared the same philosophies in total patient care and excellence.
Nashville, TN
We are excited to announce the affiliation between an iconic multi-doc general practice in Nashville, TN, and United Dental Corporation. Our clients fielded 10 LOIs, and we were able to choose the perfect match and the right terms. Our clients received over 200% of collections.
Good luck to Dr. Robert Ammarell and Dr. Matt Gorham on your Triumphant DSO affiliation.
Dallas, TX
We are thrilled to announce the affiliation between the standard of General Practices in the Dallas Metroplex and are excited for the Bayside of Rowlett’s partnership with Squire Dental DSO.
Dr. Brad Boeke fielded multiple offers and received over a 7.5x for his multi-doc and multi-million dollar practice. Best of luck to you, Dr. Boeke. It was a pleasure advising you throughout this competitive process and a Triumphant day for all parties involved.
Miami, FL
Another successful DSO affiliation with our client, Dr. David DelCastillo, in Miami, FL, and Star Dental Partners.
We received multiple bids, and Star Dental Partners was the best fit for our client with their doctor-centric approach. This was a triumphant partnership, and our client received a 40% higher offer when he hired us to advise them than he had when represented by another brokerage. We are excited about this Triumphant DSO partnership. Good luck, Dr. Del Castillo.
Breakwater, ME; Tory Hills, ME; Mountain View, ME
We are thrilled to announce another Triumphant DSO transition with our client, Dr. Shilo Annis, and his 3 locations, Breakwater, Tory Hills, and Mountain View Dental in Maine with Straine Dental Management.
After considering multiple options, SDM was the best choice because of its experience and long success periods over the last 30+ years.
It was an absolute pleasure and privilege to work with you, Dr. Annis, SDM, and the exceptional team at Healthstream Ventures. Your invaluable contributions and unwavering support were instrumental in making this transition a success. Thanks to our collective efforts and collaboration, we were able to close this transition at a great pace, resulting in a favorable outcome for all parties involved.
We were able to negotiate upside in additional offices and received over 200% of collections. This was another Triumphant success.
What to Consider when Selling a MedSpa Practice
Assessing the Value of Your Med Spa
Before putting your med spa on the market, it’s essential to accurately assess its value. Factors such as profitability, client base, services offered, aesthetic treatments, skincare procedures, and the quality of medical equipment and facility play a significant role in determining the value of your business. Understanding your med spa’s financial performance, including profit margins and revenue streams, is crucial for potential buyers.
Identifying Qualified Buyers
Finding qualified buyers who understand the intricacies of the med spa industry is essential for a successful sale. Nearly 80% of potential buyers consider profitability as the most important factor when purchasing a medical spa, emphasizing the importance of targeting individuals or organizations with a strong understanding of the industry and a commitment to success.
Negotiating Terms and Conditions of the Sale
Negotiating the terms and conditions of the sale requires careful consideration and open communication between both parties. Factors such as the selling price, payment structure, transition plan, and non-compete agreements should be discussed and negotiated to ensure a fair and mutually beneficial outcome for all involved.
Finalizing the Sale Agreement and Transition Plan
Once the terms of the sale have been agreed upon, finalizing the sale agreement and transition plan is the next step. This involves drafting comprehensive legal documents outlining the terms of the transaction, including the transfer of licenses, permits, contracts, and the transition of staff and clientele.
Preparing Your Med Spa for Sale
To maximize the value of your med spa, it’s essential to prepare it for sale meticulously. This involves ensuring that your facility is well-maintained, up-to-date, and compliant with all regulations. Additionally, showcasing the success of your business through testimonials, before-and-after photos, and client satisfaction surveys can enhance its appeal to prospective buyers.
Marketing and Promoting your Med Spa Listing
Effective marketing is critical for attracting potential buyers to your med spa listing. Successful marketing campaigns can increase the sale price of a medical spa by up to 30%, highlighting the importance of showcasing your business’s unique selling points, such as its loyal clientele, comprehensive services, and state-of-the-art equipment. Utilizing online platforms, industry networks, and professional brokers can help maximize exposure and attract qualified buyers.
Post-Sale Considerations and Transitioning out of the Business
Once the sale is complete, it’s essential to consider post-sale transition and exit strategies. This may involve providing support to the new owner during the transition period, maintaining relationships with clients and staff, and exploring new opportunities for personal and professional growth.
Selling a med spa requires careful planning, preparation, and execution. By assessing the value of your business, preparing it for sale, targeting qualified buyers, and navigating the sales process effectively, you can maximize profitability and ensure a successful transition out of the business. Remember, the average selling price of a successful medical spa is around $1.5 million, and approximately 90% of medical spas that offer laser hair removal services experience an annual growth rate of at least 15%. With the right strategies in place, you can achieve success and profitability in selling your med spa business.
Gathering Financial and Operational Documentation
Transparency is key when selling a med spa. Gathering comprehensive financial and operational documentation, including profit and loss statements, balance sheets, tax returns, and employee contracts, provides potential buyers with the necessary information to make informed decisions. Highlighting the growth potential of your business, particularly in lucrative areas such as laser hair removal services, can further attract interested buyers.
Conducting Due Diligence on Potential Buyers
Once you’ve identified potential buyers, conducting due diligence is essential to ensure a smooth and successful transaction. This involves verifying the financial capability, experience, and intentions of prospective buyers to mitigate risks and safeguard the integrity of the sale process.
Transferring Licenses Permits and Contracts
Transferring licenses, permits, and contracts is a critical aspect of the sales process. Ensuring that all regulatory requirements are met and that contracts are transferred seamlessly minimizes disruptions to business operations and facilitates a smooth transition for both the buyer and seller.
the final step
Are You Ready to Begin the Transition Process with Triumphant Transition Partners?
Selling a dental practice, medical practice, or med spa is a significant decision that requires careful planning and execution. Understanding the process is crucial for a smooth transition. Get in touch with us today and see how a partnership with Triumphant Transition Partners can help you in your journey.