Acara Partners provides full-service consulting to physicians, medical providers and entrepreneurs to develop successful aesthetic medical practices nationwide. With a methodical approach, our team of business development experts guide our clients in every step of the medspa development process — from concept development to open doors.
After the medspa concept is developed, our consulting team conducts a market assessment of the demographics and geography and develops a financial model to outline the capital requirements necessary to build, equip and open the proposed business; pricing, staffing and revenues; pro forma financial statements for the first five years of operations; ROI (Return on Investment) analysis; and financial assumptions.
The next step is site selection. The majority of clients lease a space (instead of buying a building). Acara’s clients can expect site selection support to include:
• Commercial Broker Selection. If needed, Acara Partners will work with the client to identify a Real Estate Broker with retail and commercial experience.
• Site Selection Criteria. Acara will identify the future business’ criteria necessary for consideration when selecting a site. This includes but is not limited to size, visibility, accessibility, rent rates and complementary adjacencies.
• Commercial Broken Collaboration. Our consulting team will work with the Commercial Broker throughout the search to collaborate on identifying a possible site. Then, we will review the sites identified by the Commercial Broker.
• Site Selection. Once the final prospective sites are identified, Acara will present a site selection analysis to facilitate a final decision.
• Letter of Intent (LOI), Lease Review and Negotiation Support. Acara’s consulting team reviews the business terms of the LOI and lease and guides the client to negotiate for rent, TI (tenant improvements) and if appropriate, rent abatement. Please note: Acara does not provide legal review of the site lease. The client’s attorney should review all lease documentation.
If you’ve been thinking about developing a medspa and are interested in expert business advice and consulting support for your site selection process, we’d love to hear from you. Contact us today to get started.