Selling your med spa?
Recurring revenue is what buyers are really buying.

The honest version

What med spa businesses actually sell for

Med spas commonly trade in the range of 4–8x adjusted EBITDA, with membership-driven, multi-provider practices at the top of that range. A single-injector practice with no membership base sits at the bottom of the range regardless of how strong its revenue looks.

The range is wide because the same business is worth different amounts to different buyers. In this sector you are usually looking at three:

• Aesthetics platforms and PE-backed roll-ups — the most active buyers, focused on recurring revenue and provider depth.
• Regional multi-site operators — expanding within a metro, often the best cultural fit for a founder who wants to stay involved.
• Physician and provider buyers — realistic for smaller practices, typically at lower multiples but with simpler terms.

Which of those is at your table changes your number far more than anything on your equipment list.

What moves the number

The four things buyers actually underwrite

• Membership and recurring revenue. Contracted memberships and treatment plans transform the risk profile of the business and are the single biggest driver of the multiple.
• Provider dependence. If most injectable revenue runs through you or one star injector, buyers price the risk that revenue leaves with that person.
• Device ownership versus lease. Owned, current-generation devices are an asset; expensive leases on ageing equipment are a liability that comes straight off the price.
• Medical director structure and compliance. Corporate practice-of-medicine rules vary by state, and a clean, defensible structure is a prerequisite for institutional buyers.

The sector-specific risk to manage early is regulatory: buyers will examine your medical director arrangement, delegation and supervision protocols, and your consent and charting practices. Structural problems here do not reduce the price so much as they end the process, and they take time to remedy.

The process

Why a quiet, competitive process beats the first offer

Most owners in this sector are approached directly, unsolicited, by a consolidator or a platform buyer. That approach is flattering and it is also the single most expensive letter you can accept, because a buyer negotiating against nobody has no reason to move on price or on terms.

We run the opposite process. Buyers are qualified and under confidentiality agreement before they learn whose business it is. Nothing is listed, advertised, or published. Your staff, your customers, and your competitors learn nothing until you decide they should — and several credible buyers are considering the same opportunity at the same time.

The result is not only a better number. It is better terms: what happens to your team, how long you stay, how the earn-out is structured, and what happens to any real estate.

Common questions

Med spa owners ask us these first

What is my med spa worth?

Med spas typically sell for 4 to 8 times adjusted EBITDA. Practices with strong membership or recurring treatment revenue, several providers rather than one, and owned modern devices sit at the top of that range. A confidential valuation gives you a written range based on real closings.

Who buys med spas?

Aesthetics platforms and private-equity-backed roll-ups, regional multi-site operators, and individual physician or provider buyers. Platforms usually pay the most for practices with recurring revenue and provider depth.

Can I sell my med spa without my staff or clients knowing?

Yes. We never list or advertise a practice. Buyers are qualified and under a confidentiality agreement before they learn your identity, and you approve every step, including when your team and clients are told.