What Is a Med Spa Worth?

What a Med Spa Is Worth

Most med spas sell for 3x to 5x Seller's Discretionary Earnings (SDE), and larger, multi-location groups with management in place trade at 6x to 9x EBITDA. A single-location med spa earning $700,000 in SDE typically values between $2.1 million and $3.5 million. Where you land depends on how much of your revenue recurs through memberships, whether the business runs without your star injector, and how clean your books look to a buyer.

A med spa is a medical aesthetics business — neurotoxins like Botox, dermal fillers, laser treatments, body contouring, and skincare — delivered under medical supervision. Buyers aren't paying for lasers and treatment rooms; they're paying for a loyal patient base and predictable repeat revenue. For a fast baseline before you read further, run your numbers through the business valuation calculator.

Why Med Spa Valuations Matter

Aesthetics is one of the most active roll-up markets in healthcare. Private-equity-backed platforms have spent the last three years acquiring profitable med spas and bolting them into regional brands, and that buyer competition has pushed multiples up by roughly a full turn since 2023. A strong, well-run med spa is exactly the bolt-on those consolidators pay premiums for.

The biggest swing factor is recurring membership revenue. A med spa where 35% of revenue comes from monthly membership programs is worth far more than one living on one-off appointments, because contracted, repeating revenue lowers buyer risk and supports a higher multiple. The second factor is injector dependency. If one provider personally drives most of your bookings and could walk out with the patient list, buyers see fragility, not value. The same concentration risk shapes how buyers price any hands-on service business — you can see it in how an auto repair shop is valued, where a few key people can make or break the deal.

How to Use Your Med Spa Valuation

Start with your true SDE. Add back your owner salary, personal expenses run through the business, one-time buildout or equipment costs, and above-market rent — on a small med spa these add-backs often total $60,000 to $200,000. Then apply a multiple based on your membership percentage, provider retention, and retail product sales, which buyers love because they're high-margin and recurring.

Use the number to plan, not to brag. If your med spa values at $2.4 million today but you need $3.2 million to exit comfortably, you now have a concrete gap — closeable by growing memberships, adding a second provider so you're not the bottleneck, and cleaning up your books a year ahead. That's the heart of good exit planning: knowing your number early enough to move it.

For the full method — which multiple to use, a worked example, and the factors that move your price most — read our complete guide on how to value a med spa in 2026. Then track your value over time with YourExitValue so you always know what your business is worth when a buyer comes calling.