Medi-Spa Trends & New Ideas for Income
Like many businesses around the country, medi-spas are feeling the crunch of the economy. And, as a result, they are looking for ways to save money, branch out, draw in new clients and bring in new sources of revenue.
One of the biggest trends we are seeing has to do with medi-spas providing services outside of the office. We are seeing more and more medi-spas offering “spa parties.”
Spa Parties. Spa parties are often hosted by a client, in her home, and she invites her friends over for specific services, like Botox or Juvederm. Sometimes additional services are offered by a manicurist or a masseuse. More and more women are offering such services in conjunction with birthday parties, moms’ night out parties, etc.
Now for a new idea…
Social Selling Companies. Related to the above concept, we can’t help but wonder if there would also be potential for additional income by teaming up with in-home direct sales (a.k.a. “social selling”) companies. We haven’t heard of any clients doing this yet, but medi-spas might want to consider teaming up with in-home direct sales representatives. These sales reps could then offer their host(ess) the option of adding on medi-spa services to their jewelry/cookware, etc party.
BUT, if you are considering any of these ideas, what do you need to know in terms of your medi-spa med mal insurance? You need to make sure that your policy covers activities OUTSIDE of your office setting. Do not assume that your current medi-spa med mal insurance policy will cover you for these activities off-site. Most likely, it will not.
Because of the demand for off-site medi-spa activities, we have a specific insurance product for our clients in this situation. Contact us today if you would like to discuss this additional coverage for your medi-spa.
