Find out if you’re at the salary sweet spot or if there’s room for your business to grow

It took a ton of hard work, but you’ve done it — you’ve opened up your medspa and reaped the benefits of the fruits of your labor. But how do you know if you’ve reached your full potential?

Understanding the average medspa owner salary can give you a good idea about how successful your overall business is — and whether there’s an opportunity for improvement. As an owner, if you can take home a good, sustainable pay, chances are good that you’re making the right decisions. And if you’re not quite at that average yet, you know there’s room for your business to grow. 

So, how much do medspa owners make? Let’s find out.

What is the average medspa owner salary?

Average real-world medspa owner salaries can be tricky to pin down. Several factors can contribute to an owner’s take-home pay, like the medspa’s location, subsequent rent costs, and clientele, along with other expenses like equipment, supplies, and staffing. Even how long you’ve been in the business can affect your actual med spa income, as it takes time to grow beyond initial startup pains.

However, there are a few ways to calculate what the average medspa owner with a healthy and active business should expect to make.

For example, ZipRecruiter calculates its salary ranges and averages based on the information posted to its database of active jobs and listings. According to this calculation, the nationwide average medspa owner or director salary is $232,369. This annual average comes from a wide range of potential salaries, from around $357,000 at the highest to $13,000 at the absolute lowest.

We can also take a look at med spa income and profit margins to determine what the average medspa owner salary would be. The American MedSpa Association’s (AmSpa) 2024 State of the Medical Spa Industry Report found that the average annual revenue for medspas in 2023 was $1,398,833 — an over $90,000 year-over-year increase from 2022. Previous AmSpa studies also found that the average medspa has a profit margin of 20-25%. With those margins, average profits range between $280,000 and $350,000. And since 68% of medspas only have a single owner according to AmSpa’s report, most medspa owners will likely take home most, if not all, of those profits themselves.

Know your audience: Who are the main drivers of med spa income?

That 2024 State of the Medical Spa Industry Report from AmSpa also contains a few critical bits of info about who is most likely to use your services — and how much they’ll spend.

According to the report:

• The vast majority of clients are women — almost 90%, in fact.

• Over half of all women who visit medspas are between the ages of 35 and 55. 

• On average, nearly 250 clients visit medspas every month and spend around $527 per visit.

• Repeat visits are huge for driving sustainable revenue — almost three-quarters of all visits are from repeat clients.

3 steps to improve revenue — and boost your salary

Here are a few strategies to streamline operations and boost your med spa income beyond the competition.

Manage your expenses

Profit equals revenue minus expenses. Pretty basic stuff, sure, but it’s always good to start with the fundamentals and take a deeper look. There could be a lot of ways to bring those costs down and get even more out of the money you’re currently bringing in.

For example, a more efficient software platform that ties data across scheduling, inventory management, and payment could help you shave more than expected from your expense sheet. Not only would you potentially save money using one platform instead of three, you’ll also see the relationship between what services clients purchase and how your staff provides those services, giving you deeper insight into where you can improve processes to stretch your supplies as far as they’ll go. 

You could investigate which providers have the highest rebooking rates, then follow up with those providers to figure out what they’re doing right and use that info to improve your internal best practices Or, you could compare how much revenue you’re generating from a service like Coolsculpting against the cost of consumables to see if there’s room for improvement — or whether it’s worth keeping at all. 

This platform might even give you insight into where your clients are located, telling you that your location might be a drag on your balance sheet. Your research might show you that there’s too much competition nearby, or there might be a better, less expensive spot closer to your client base. Spending less on rent or finding a location with more high-value clients nearby will help you get the most out of one of the line items you’ll likely have to pay, no matter what.

These are just some of the ways you can manage your expenses — taking a real, honest look at what you’re spending money on will help you figure out what’s most important for keeping your business running.

Forge deeper relationships with clients

If you’re not looking for ways to cultivate and strengthen connections with the clients who walk through your doors, you’re missing out on a massive opportunity to drive sustainable growth.

This process can start simply by giving clients the freedom to book online. Nearly 80% of clients who book their first appointment online will go on to book a second, so you’re already off to a fantastic start. 

Then, you can develop a personal connection by discussing long-term medspa care plans with your clients. Start by training your team to build out six- to 12-month treatment plans around the services clients request, which they can use as a roadmap to plan future visits. A single visit can easily blossom into bi-annual or even monthly appointments if you can communicate the value of following up with additional care and maintenance. Consider offering free educational programs and hands-on training with products to continue that conversation beyond the traditional appointment. 

Lastly, you can leverage membership programs to give back to your most loyal clients while also creating a predictable stream of recurring revenue for your business. Find ways to offer exclusive rewards like discounts, VIP events, priority booking slots, and much more. These kinds of members-only perks make your clients feel special, which will keep them coming back time and time again. 

Lean on your data

Information is king when it comes to making the right decisions for managing expenses and driving growth. The data your medspa software platform provides will give you a ton of  insight into top performers, treatments clients love, and those with the highest profit margins delivering profitability. That can help you guide clients towards other services that they would enjoy or rethink pricing on your most popular menu items — but you won’t know what you need to do if you’re not digging into your monthly, quarterly, and annual reports. 

Once you know where the money’s going, you can develop strategies that drive sales for your most profitable services. And once you’ve nailed that, you can start seeing your take-home medspa owner salary growing alongside it.