Procedures such as injections are routine. While nothing is truly resistant to recession, medical spas can be resistant to recession. The “lipstick effect” indicates that, even in times of severe economic recession, such as the Great Depression, consumers continue to enjoy small luxuries and beauty products. Aesthetic services make shoppers feel good.
In addition, the target demographic of medical spas is often richer and more established. Overall, medical spas are in a good position to manage a declining economy. IBISWorld, an industry market researcher, reported that barriers to entry in the health and wellness spa industry are “low and constant.” Whether to expand your medical spa or to start a merger and acquisition (M&A), the following factors make buyers be more attentive. AmSpa provides legal, compliance and business resources for medical spas and medical aesthetic offices.
By Taylor Siemens, registered nurse, clinical advisor to the American Med Spa Association (AmSPA) It's important to choose the right device. In addition, services can be performed by an esthetician, nurse or doctor, making them more affordable for both the consumer and the owner than other health care services. NEW YORK (Reuters) - Spas in the United States appear to be recession-proof, as an unprecedented number of Americans pay for treatments, from massages to manicures, to cope with stress in the midst of the global financial crisis, an industry group reported on Monday, July 6.The founder and CEO of Maven, Jessica Nunn, recently spoke on a panel with the American Med Spa Association (AmSPA) about how medical spas can prepare for a recession. Demand is specifically driven by the changing cultural norms of reality shows, social media, and the transition to remote work (through video calls and teleconferences).
They often choose to spend less on other areas of their budget before cutting back on spending on aesthetic medicine services. Now that we've explained what's so attractive about the medical aesthetic market, let's talk about what it means for medical spa owners like you. By CM&F Group Ensuring that your medical spa has the right insurance coverage is critical to protecting your business.
