You love being a nurse, but the growth of the cosmetic industry hasn’t escaped your notice. You like the idea of still being able to work with patients and provide care. The thought of not being in a busy hospital or clinic setting appeals to you. But what path can present you with this new opportunity and take your career in a different direction?
Qualified medical professionals like nurses (nurse practitioners, registered nurses, etc.) can break into the aesthetic medicine industry by completing a Botox injector course. This will lead to new job opportunities–and possibly a path to owning an aesthetic practice.
Starting your own business can be intimidating. Luckily, you already have a head start; you’re trained as a nurse. Once you get your certification in Botox and dermal fillers, you can begin planning to open your med spa.
Crafting Your Business Plan
First things first–you’ll need a solid business plan. What does a business plan look like? Well, that depends on the type of business. Typically, a business plan for a med spa requires detailed information on everything you plan to include in your practice–staff, equipment, insurance, etc. You’ll also need an overview of your finances and how much it will take to get your business up and running. You can then present this to lenders when you’re ready to start your medspa.
What You’ll Need
- Office Location
One of the most important steps to starting your med spa is deciding on a good location for your practice. You want something convenient and situated in a nice area, but you don’t want to pay an outrageous amount in rent every month.
You’ll probably need to compromise to get the best location for your practice. For instance, instead of the trendy shopping district you’ve been eyeing, you may need to opt for an established and stable area a few miles away. You may have to consider the suburbs over the heart of the city. If the rent is still too high, try looking for a shared building space where you can split the rent with another business (and still have separate offices).
- Equipment + Supplies
The financial impact of buying equipment can be too much of a burden for a small medspa. Some lasers and machines for a medspa can cost $75,000–or more.
Fortunately, if you do need lasers and similar equipment, you can rent them. This will help you drastically cut your monthly expenses. Some companies may allow a rent-to-own agreement, meaning all your monthly payments will go toward the purchase price of the equipment.
You’ll need a good supply of Botox, other wrinkle relaxers, and dermal fillers. Don’t forget to include these in your business plan!
- Staff
You’ll need qualified staff to help you run your practice. After all, it’s hard to answer phones, greet clients, and administer injections at the same time. Allow plenty of room in your budget to hire employees to help run your practice.
- Medical Director
Depending on your state, you may need a medical director to oversee your practice. This helps protect you from any legal issues. While this person doesn’t always have to be on-site (again, check your state rules), you’ll need their approval for certain medical treatments.
- Insurance + Legal Documentation
It’s important to have good insurance coverage for your office in case anything happens to your physical location (fire, flood, break-in, etc.). However, the most crucial insurances you need are general liability and malpractice. These will protect you and your business in the event of any client complaints or on-site accidents. You’ll also need a Forms, SOPs, and Consents Package to quickly launch your med spa.
To protect your practice, you should also have a law office draw up papers for clients to sign before their treatments.
The Nurses’ Guide To Med Spa Ownership
You’ve got your business plan; it’s time to start talking to lenders. There are plenty of options for financing, including banks, government loans for small businesses, and private lenders.
You want to start a medspa but still need to get your Botox certification. We can help you! Botox Bar does more than Botox and dermal filler injections; we can give you the tools you need to become an injector. And it doesn’t stop there.
If you’re struggling to get your business plan together, we offer a course in starting your medspa. We’ll walk you through everything you need to be successful in the aesthetic industry.
Call Botox Bar at (817) 533-7676 to learn more about our injector and aesthetic business courses.
