Mastering Your Med Spa P&L
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Mastering Your Med Spa P&L
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Many medical spa owners excel at patient care but struggle to navigate the complex financial realities of running a business. In this episode of Medical Spa Insider, host Alex Thiersch sits down with Whitney Morrison, CFP, founder and CEO of Holistic Money and fractional CFO for service-based businesses. Whitney shares her personal journey into financial management and breaks down why high-revenue med spas often struggle with cash flow.
Together, they walk through a practical breakdown of a $100,000/month med spa P&L, introducing key benchmarks for inventory, direct clinician labor, marketing, and overhead. Whitney explains her custom "cost of delivery" concept, how to set target multiples for injector revenue generation, and how owners can structure their compensation between salary and profit distributions to optimize tax efficiency and build long-term wealth.
Discussion Points
- Moving Beyond Bank-Balance Decisions - The "Cost of Delivery" Framework - Evaluating Injector ROI - Optimizing Operational & Marketing Allocations - Structuring Owner Compensation & Tax Strategies