November 30, 2023

Opening a Med Spa: How Much Money Do You Really Need?

Moxie Team

Once you’ve made the decision to transition from working a cosmetic nurse job to opening a med spa there are a lot of questions that need answers. One of the most critical being: how much does it cost to open a med spa?

When determining med spa opening and operating costs, there are many variables. There are also several different avenues for securing financing. 

Read on as we break down the costs of opening a med spa, detail how to secure a med spa loan, and share tips on what to invest in first.

How to Start a Med Spa with No Money - Is It Possible?

Like many fledgling entrepreneurs, there can be a gap between your vision and the reality of your bank account. However, this doesn’t have to stop you from opening a med spa altogether. Opening a new business may qualify you for several different loan types (more on this shortly). 

On average, we estimate $50,000 as a conservative investment for opening a med spa. While there are a host of costs, med spa equipment is one of the largest ticket items. 

When first starting out, we always recommend keeping overhead costs low. This means only investing in what you absolutely need—a location, a medical director, licenses, med spa insurance, legal support, and the necessary equipment to perform services. Keep in mind that you can always upgrade your med spa equipment or enhance your space once your business is more established.

So, if you don’t have tens of thousands of dollars in a savings account, how can you achieve your dream of opening a med spa? The answer to this is financing, and this often starts with creating a business plan.

Creating a Business Plan for Your Med Spa

In order to estimate the cost of opening a med spa, it’s a good idea to start with a business plan. This will give you a better idea of your top priorities in terms of spending, and also help you to determine how your med spa will run and even what kind of med spa marketing strategy should be rolled out to get customers in the door

This business plan will also come in handy when applying for med spa financing.

According to the American Med Spa Association (AmSpa), there are a number of variables that go into calculating the final cost of opening a med spa. When setting a plan and budget, try to answer the following:

  • What services do you want to offer?
  • Your location (big city or smaller town)
  • What kind of space will you rent?
  • How many modifications does your space require?
  • What kind of med spa equipment will you need?
  • Will you be working with staff, partners, or other providers?

Renting or Buying Med Spa Equipment

Opening a med spa requires budget management and maintaining steady cash flow. Opting to lease med spa equipment helps to keep overhead costs low with smaller payments. This offers flexibility to experiment with different equipment brands and a lower upfront investment. 

However, leasing may involve a monthly premium, and unless it's a lease-to-own arrangement, you won't own the machines outright. This also eliminates the possibility of resale. It’s good to research into renting, financing, and buying to select the best choice for you and your business goals.

For example, the average cost of new med spa equipment is as follows: 

  • Electric facial and massage beds: $2,000-3,000
  • Laser/IPL System: $50,000 - $75,000
  • Ultrasonic facial machines: $3,000 - $6,000
  • Body sculpting machines: $2,000 - $11,000

Depending on your equipment needs, lease-to-own or rentals will cost several hundreds of dollars per month. However, this keeps initial start-up costs more manageable upfront.

How To Get a Med Spa Loan (And Other Types of Med Spa Financing)

Start With Your Existing Financial Institution

When seeking med spa financing, it's generally a good idea to start by exploring options with your existing bank or credit union, as they may offer competitive rates and tailored loan bundles based on your established relationship. 

It's essential to thoroughly comprehend the terms, interest rates, and repayment conditions before committing to any med spa financing. 

Questions such as potential penalties for early loan repayment, the existence of a grace period for skipping a monthly payment, and the possibility of consolidating loan debt to reduce interest should be addressed and clarified.

Get a Small Business Loan

With your business plan in hand, you can apply to the US Small Business Administration. The USSBA has a mandate to support entrepreneurs (like you!) and offers a variety of funding programs for which you may be eligible.

Explore Private Lenders

Private lenders often operate with more flexibility in terms of loan approval criteria and may consider factors beyond what traditional banks typically evaluate, making them an interesting option for med spa financing. 

Finimpact’s top picks for med spa financing:

Med spa financing options for women

Despite the prevalence of female entrepreneurs in the med spa industry, women still face a higher likelihood of funding rejection compared to their male counterparts. To address this disparity, some financial institutions provide specialized small business loans tailored for female entrepreneurs.

Small Business Administration (SBA) loans

  • Borrow up to $5 million
  • Repayment within five to ten years, if financing real estate up to 25 years
  • In order to qualify, you’ll need a minimum credit score of 620, and no history of bankruptcy or foreclosures

Bank and credit union small business loans

  • Can help you secure a lower interest rate
  • The funding available to you depends largely on the specific institution
  • May be difficult to obtain without a strong credit history

Business loans from online lenders

  • The fastest option for securing a med spa loan
  • Your med spa loan application can be approved in as little as 24-48 hours
  • Interest rates may be slightly higher


  • For female entrepreneurs who are just starting out
  • Smaller loans under $50K

Interested in learning more about your options for med spa financing? This tool can help you determine if you meet the requirements for a small business loan.

Med spa financing grant options

Loans aren’t the only way to go to secure med spa financing. The following are some popular grants designed specifically for female-run businesses:

Opening a Med Spa With Moxie

Transitioning from roles like cosmetic nurse jobs to opening a med spa is a big deal! 

Without a doubt, your current financial situation plays a key role in determining eligibility for med spa financing. Customized benchmark costs and research into your loan options gives you the power to decide.

Moxie helps streamline the process of opening a med spa and securing financing. Kickstart your next chapter today, with Moxie. 

Learn more about how Moxie helps entrepreneurs like you open profitable med spa businesses!

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