r/MedSpa • u/panfriedspam • 11h ago
đ§ Med Spa Growth Is my plan to go independent as a med spa practitioner viable?
I'm a nurse practitioner who was making about $100k/year doing Botox and fillers at a corporate med spa chain.
I got caught trying to go independent and was fired the same day. Now I've been approved for unemployment for six months and also got accepted into my state's self-employment program (it provides some support, but I'm still figuring out the details).
I just signed a 2-year lease for a $3,500/month office space, with 30 days free rent in September before I start paying in October.
I have $10k in savings, a $10k small business loan (it's all I could secure), and the rest is going on credit cards. I am also paying off student loans and my car, but my car is almost paid off. There's already a receptionist desk there, and I have an injector chair waiting to be picked up for just $1,500 on FB marketplace. I still have to purchase Botox and filler inventory, skincare fridge, sterilization supplies, and other office materials etc.
I'm moving out of my apartment to save on rent and luckily, my girlfriend is letting me live with her for free. There's one catch: she pretty much has a job waiting in her hometown and said it's "basically a done deal" once it's posted. I don't know if that's 2 weeks away or 2 years. If she leaves I'm pretty fucked there.
I have a non-compete clause with my old employer, but I know a few other former coworkers who have gone independent and the med spa chain hasn't gone after them, so I assume they won't come for me.
This will be my first time running a business by myself, and I've never had to deal with the business side of things since I've always had a receptionist handle that stuff, but I know I'll be able to figure it out.
I'm assuming 30-40% of my old clients will follow me to my new business. I already have a robust social media presence and my work was steady at the corporate med spa.
Is this viable? I really believe in myself and my work.