How to Sell a Med Spa: Step-by-Step Guide for Owners

Ready to sell your med spa? The process can feel complicated, but if you have a clear plan and organized systems, you’ve got a much better shot at closing a solid deal. Start by cleaning up your records, streamlining your operations, and making your practice attractive for buyers. With smart preparation and the right tech, you’ll be in a strong spot when offers roll in.

This guide shows you how to sell your med spa step by step, including prepping your financials, boosting your value, marketing the business, and finding a great buyer.

Start With the Big Picture

Before you put your spa up for sale or call any brokers, figure out why you’re selling and look at what’s happening in the market. Buyers want stability and clear information. Your business isn’t just some empty shell, they want a reliable, profitable asset they can grow.

Clarify What You Want

Get a handle on your goals first. Are you hoping to retire? Want to relocate or maybe buy into something bigger? Your timing plays a role. If you’ve only got a few months, you might have to accept a lower offer. If you have a year or longer to get ready, you can improve your systems, grow revenue, and probably get a higher multiple for your business.

Consider your ideal after-sale situation. Do you want to stay for a transition, or bail quickly? Some buyers will want a non-compete. Decide what you’re comfortable with so you can communicate it up front.

Get to Know the Market

The med spa industry’s exploding. It was worth $33.9 billion in 2024, with projections of $49 billion by 2030. Tons of buyers are looking, but competition is stiff. If your local area’s packed with med spas that offer the same services, you’ll need to show how you stand out. That could be loyal patients, revenue from memberships, or a recognizable brand.

Look at who lives nearby, how much they spend, and who your main local competitors are. If you’re in a high-income area with few spas, your business is a hot commodity. In a crowded market? Lean on efficiency and financial strength to stand out to buyers.

Get Your Financials in Shape

Buyers really care about numbers. If records are messy or incomplete, people will walk or just offer less money. You need at least two or three years of clean documents that show steady revenue, healthy expenses, and solid profit margins.

Pull Together Financial Records

Gather the essentials for buyers to review:

• Profit-and-loss statements
• Tax returns
• Cash flow statements

Break down your revenue by what you actually offer, like injectables, laser sessions, skincare, memberships. Make it obvious what makes you money and where the business grows.

Track cost of goods sold (COGS) and labor separately. COGS should sit at around 20-30% of revenue, labor is best kept under 40%. If your numbers are higher, be ready to explain or fix it first.

Buyers often look at Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) to judge true cash flow. Small med spas usually get 3x-6x EBITDA, mid-sized practices can even hit 5x-8x.

If you’re using Portrait, a lot of this is easy. The platform tracks revenue and costs by service, so pulling up those numbers just takes a few clicks. It’s a big time-saver for you and a confidence boost for buyers.

List Out Liabilities and Assets

Buyers want to know exactly what you have and what you owe. Make a list of:

• Equipment
• Inventory
• Real estate
• Leases
• Outstanding loans

Owning your equipment is a plus. Leasing? Make sure it’s transferable. If the inventory has expired or you’re overloaded with certain supplies, sort that out now.

With Portrait’s inventory tools, you can see what’s current and restock only what you really need.

Refine Your Operations

Buyers will pay more if the business runs well. They don’t want to take over a clinic they have to reinvent. If you’ve already got a steady team, smooth processes, and high patient satisfaction, you’ll likely get better offers.

Compliance

Compliance isn’t optional. Buyers won’t take over a practice with sketchy records or weak documentation. Portrait keeps you compliant from the first day, which gives buyers peace of mind when they take over.

Portrait takes HIPAA compliance seriously. Patient data is secure, there are audit logs, role-based controls, and encrypted storage. That’s exactly what buyers want so they don’t walk into a liability mess.

Scheduling

Slick scheduling also makes a big difference. When your calendar’s full and patients show up consistently, that’s a clear sign the business is doing well. Portrait’s scheduling features help drive up your utilization rate.

EHR

Your EHR is where the magic happens. Buyers want a modern, HIPAA-compliant software that’s easy to use for scheduling, charting, billing, and record-keeping. If you’re still doing things by hand or with a bunch of random apps, it’s time to upgrade.

Reporting

With Portrait’s real-time reports, you can show buyers key stats—like appointment volume, revenue per service, and patient retention. That’s the kind of info that proves your business is stable and growing.

Negotiate the Sale and Manage the Transition

Found a buyer? Now the real work starts. You need to agree on price, outline the terms, and make a solid plan for the transition. Preparation pays off here.

Pick the Right Buyer

Not every buyer is the same. Some are individual first-timers who’ll need more help. Some are bigger med spa chains hunting for expansion and are willing to pay more. Private equity groups love recurring revenue and will want to get deep into your numbers.

Ask about their plans. Will they keep your staff? Stick with the brand? Are they looking to grow? Their answers help you decide if they’re a solid fit for what you want from the sale.

Make Handover Easy

A good transition plan protects your team and reputation. Tell your employees about the sale early on. Make sure key staff and patients get introduced to the new owner. Walk buyers through your EHR, scheduling, and inventory.

If you’re using Portrait, this part’s a breeze. The new owner can just log in, learn the workflows, and keep things going. You can also transfer medical director agreements, compliance docs, and marketing so nothing gets lost. Usually, you’re looking at 4-6 months for a complete sale, but if you’re organized, you can sometimes close in as little as 120 days.

Sell Your Med Spa and Protect Your Legacy

Selling your med spa doesn’t have to be stressful or confusing. Get your finances organized, streamline your operations, and use simple tools to attract buyers and close the best deal possible.

Portrait makes sure your operations are smooth and reports are clear, so buyers feel confident taking over your practice (and you get a higher price).

Thinking about how to sell a med spa? Start by tightening up your systems with Portrait. The effort you put in now pays off big time when it’s time to sell.