A few minutes of read-only financials and a short questionnaire surfaces what a buyer would discount your med-spa for — whether the cash flow still holds once a market injector's pay is charged for your own clinical hours, how deep your recurring membership and repeat-injectable base runs, whether your medical-director and compliance structure is clean, and how much of the revenue walks out the door with you. Preview costs nothing.
Enter two numbers for an instant Med-Spa / Medical Aesthetics ballpark. No signup — the real number comes from your books.
We answer each one from your books first — so you fix the story before a diligence team writes the number.
If you do most of the injecting, your clinical revenue and the patient relationship transfer with one person — you. A buyer prices in attrition risk and a revenue cliff at handoff, and normalizes a market injector's pay (a nurse or NP) for your clinical hours before valuing the business, because that income is a wage they have to re-hire, not profit they keep. An owner-injector single site is the deepest-discounted profile in the trade.
Without memberships and a repeat-injectable cadence, revenue is transactional and has to be re-marketed every month. Buyers pay for annuity revenue — AmSpa data shows repeat-client share is the headline value metric — so a low recurring percentage drops you toward the SDE floor while a membership-dense book reaches the EBITDA, platform-bid tier.
This is a real, state-dependent diligence item. Most states bar non-physician ownership of clinical practice, so compliant operators use an MSO/PC structure with a licensed medical director controlling clinical decisions and supervising injectables. Supervision rules vary by state. A messy or nominal medical-director arrangement is a repricer — or a deal-killer — that buyers scrutinize hard.
A spa built on one aging laser faces refresh capex and an eroding competitive edge as newer platforms launch — and if that single device drives much of the revenue, the risk compounds. Buyers price the replacement cost and the concentration, and a diversified service-and-device menu reads as far more defensible.
Each lever is sized for a typical owner-operated single site, ~$1.4m revenue, ~18% ebitda after a market injector + medical-director normalization — about $350K EBITDA. Same number whether we frame it as “what a buyer discounts” or “what you keep by fixing it.”
Launch and grow memberships and a managed injectable-cadence program (Botox every 3–4 months, filler maintenance, skincare subscriptions). Recurring percentage is the single biggest multiple lifter — it's what turns transactional visits into the annuity revenue a buyer pays up for.
adds about 0.4–0.8× to your multiple · usually takes 12–24 months
Hire and ramp NP/PA/RN injectors so revenue survives your exit. This removes the single-person revenue cliff and moves the valuation from an SDE 'buying a job' basis toward an EBITDA, associate-driven one — the biggest structural lever on price.
adds about 0.5–1.0× to your multiple · usually takes 12–30 months
Get a formal MSO/PC split, documented good-faith exams, protocols, and state-appropriate supervision in place. It removes the biggest diligence repricer and is table-stakes for attracting platform bids at all.
adds about 0.3–0.6× to your multiple · usually takes 3–9 months
Broaden beyond a single device or service — injectables plus energy-based treatments, skincare, and body contouring — to reduce obsolescence and concentration risk and widen the pool of buyers who would look at the business.
adds about 0.2–0.5× to your multiple · usually takes 6–18 months
Typical impact ranges blended from lower-middle-market transaction data, sub-$50M M&A databases, and observed consolidator pricing in the $300K–$3M EBITDA band. Directional, not a guarantee — your memo computes your actual numbers from your books.
The metrics buyers grade med-spas on. The diagnostic fills the “your business” column from your actual QuickBooks data.
| Metric | Med-Spa / Medical Aesthetics benchmark | Your business | What it means |
|---|---|---|---|
| Recurring / contracted revenue | ~35% of revenue | Your data | Higher is better — the top multiple lever |
| Gross margin | ~70% | Your data | Pricing and job-costing discipline |
| EBITDA margin | ~18% | Your data | What flows to the bottom line |
| Healthy customer-concentration ceiling | top customer under 5% | Your data | Above it, buyers price the risk |
| Typical industry growth | ~8% / yr | Your data | Beating it can add to your multiple |
| Typical sale multiple | 4.0–7.0× EBITDA | Your data | Where the bidding starts; the levers above move you up |
Benchmarks are blended industry composites, service businesses $1M–$10M revenue, 2026-Q1 — directional, not a precise bar. Your memo measures you against your own books. Connect QuickBooks to fill in your numbers →
The diagnostic arrives as formats you can actually use, plus a private, scoped link to share a curated package with a specific buyer — you decide, card by card, what they see.
A branded slide deck, ready to present — for the buyer meeting, the lender, or the board.
A written diagnostic that holds up with buyers, yours to edit — plain-English summary, how we rebuilt your real earnings, every add-back listed.
Live formulas, not a dead printout — the path from raw profit to your real number, plus the cash-tied-up scenarios a buyer can stress-test.
The med-spa M&A market is real and PE-led but early — most practices are still independently owned and only a few percent PE-consolidated, with 30+ active platforms competing for quality independents. Verified PE-backed consolidators include Advanced MedAesthetic Partners (Leon Capital), Empower Aesthetics (Shore Capital), and Alpha Aesthetics Partners (Thurston Group); LaserAway and Milan Laser are large national laser-clinic operators. Structures are roll-ups with rollover equity and earnouts; below them, individual operators and SBA buyers acquire single sites on an SDE basis. The platform 10–12x EBITDA headline is the prize at the end of the roll-up, not what a single site is worth today. The memo maps which pool fits a spa your size.
Read-only, through Intuit. We never write to your books. About 5 minutes.
Just what the books can’t show — agreements, key accounts, who runs the crews.
Buyer-readiness score, normalized EBITDA, value range and top flags — instantly.
The full engine, all three deliverables, the dashboard and the buyer deal room.
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Start with the free preview. Pay once — $499 — only when you want the full memo. No subscription, no per-seat pricing.
Most Med-Spa / Medical Aesthetics businesses in the $1M–$10M revenue range trade at roughly 4.0× to 7.0× normalized EBITDA, with a typical deal near 5.5×. Smaller, owner-dependent shops sit at the low end; larger, manager-run businesses with recurring revenue reach the top. Your actual number depends on your books — that's what the diagnostic computes, blending recent lower-middle-market closings, main-street marketplace sales, and academic M&A survey data.
We start with your real QuickBooks numbers. For an owner-operated single site we use SDE (your true take-home plus owner perks) and apply a market multiple — but first we subtract what it costs to replace you as the injector (a nurse's or NP's market pay), because that clinical income is a wage a buyer has to re-hire, not profit they keep. For a larger, multi-provider spa we switch to EBITDA. Your multiple moves up with recurring memberships, more than one injector, and a clean compliance structure. Note: there's no clean med-spa industry code, so we cross-check the comps against direct med-spa deal data.
Those are platform numbers — 3-to-8-location chains with recurring memberships and a management team, the kind of business a PE roll-up buys. A single site or small chain trades far lower: roughly 2–3.5x SDE if it's owner-operated, 4–7x EBITDA once it's multi-provider and manager-run. The 10–12x headline is the prize at the end of the roll-up, not what your spa is worth today.
Four things, in order: recurring revenue (memberships plus a repeat-injectable cadence); not being the only injector, so revenue survives your exit; a clean medical-director / MSO compliance structure; and diversified services and devices so you're not one aging laser away from a problem. The diagnostic scores where you sit on each and shows what moving up would be worth.
Sixty seconds. Four numbers. No signup, no email. Just a real answer.