Episode #874
Your Med Spa Exit Starts Before You're Ready to Leave
Thinking about private equity? Don't wait until you're burned out and ready to hand over the keys. A partner may want you involved for years after the deal. I sit down with Andrew Goldfein of Alpha Aesthetics Partners to talk about what makes a practice partner-ready, what buyers look at, and why expanding just to get bigger can hurt your numbers. Another Location Doesn't Automatically Add Value That second location might grow revenue while draining profit. Before signing another lease, look at your margins, team retention, and whether the first practice can run without you constantly stepping in. Know Your Numbers Before You Take the Meeting A potential partner needs more than a healthy top-line revenue number. Get clear on: Revenue and margins by service and location Memberships and recurring revenue Device utilization and profitability Provider retention and operating costs Your P&L should show what's working and where growth is costing you. (00:07:36) Knowing when to expand or exit (00:12:03) Starting succession planning early (00:15:34) Finding a partner who fits (00:18:30) Understanding the transaction (00:21:00) Stabilizing revenue and retention Don't Sign Away What Patients Come For Alpha describes a partnership model that keeps local branding and clinical autonomy while adding business support. But don't assume every deal works that way. Ask what happens to your team, role, and equity. Make sure the actual agreement reflects what you're promised. Give Yourself Options Before You Need an Exit Whether you sell, partner, or keep growing independently, clean financials and strong retention put you in a better position. Start planning while you still have time to improve your medspa . Waiting until you're desperate to leave can limit your choices. About Andrew Goldfein: As the head of New Partnerships and M&A at Alpha Aesthetics Partners, the premier platform partnering with the nation's best aesthetics practices, Andrew has spoken with thousands of owners across the country at all stages of growth . Through its 37 partner locations, Alpha has built a community of some of the brightest clinical and business minds in aesthetics who are all now aligned to help each other through shared ownership in Alpha. Thanks to the daily conversations with practice owners, as well as through serving on Alpha's executive team, Andrew has developed deep experience in identifying opportunities and risks in aesthetics practices to help owners grow their top and bottom line. Prior to Alpha, Andrew spent four years leading M&A and new site growth at the DSO Affordable Care (Affordable Dentures & Implants) and was previously an investment banker at Houlihan Lokey . A Chicagoan at heart, he now lives in Charlotte, NC and spends any free time he can find with his wife and two young kids. Connect with Andrew: Website: https://partnerwithalpha.com/ Instagram: https://www.instagram.com/partnerwithalpha/?hl=en Follow Shannon & Keep What You Earn: Shannon Weinstein is the founder of a fractional CFO firm specializing in helping 7-figure aesthetics and wellness practices scale with clarity, cash flow, and confidence. She is committed to helping med spa owners understand, fix, and maximize their business's enterprise value, offering actionable advice and resources, including a popular free video series specifically for aesthetics practice owners. Fractional CFO Services and Executive Financial Review: https://www.keepwhatyouearn.com/ Connect with Shannon: https://www.linkedin.com/in/shannonweinstein Watch full episodes: https://www.youtube.com/@KeepWhatYouEarn Listen on your favorite podcast app: https://pod.link/1580071347 Instagram: https://www.instagram.com/shannonkweinstein/ The information shared is for educational purposes only and is not individualized financial advice. Aesthetics practice owners should consult a qualified professional before implementing financial strategies discussed here.
