IT’S NO SECRET that facials, relaxation massage therapy and treatments designed to ward off the effects of aging have become more and more popular in recent years. But research by Central Florida Health News into the business aspect of the spa industry showed some eyebrow-raising facts about how well the industry is faring.
Alex R. Thiersch, JD, Founder and Director of the American Med Spa Association, wrote in the 2017 AmSpa Medical Spa State of the Industry Report that things couldn’t possibly look any brighter for the booming industry.
“It is churning out millionaires left and right. And it doesn’t appear to be slowing down,” he said in the report.
We took a look at a medical and relaxation spas, and it appears things are going quite well locally, too. It certainly fits with the trend.
At the time of the 2017 report, the industry had generated almost $4 billion in annual revenue, doubling in size during the five-year period dating back from 2017.
And that figure is projected to double again by 2020.
“The medical spa industry is stronger today than possibly imagined five years ago. It can be measured in billions. It is growing faster than the general economy,” Thiersch said.
As of 2017 there were 4,200 medical spas.
The aesthetic industry—and particularly the non-surgical aesthetic industry—is exploding. Thiersch continued in his report, “The medical spa industry has taken off, and it shows no signs of slowing down. Revenues are rising by double digits; profit margins are rising as businesses become more sophisticated; franchises—yes franchises—are taking root; and, like it or not, entrepreneurs and non-core doctors are flooding into the market by the tens of thousands.”
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