2025 Med Spa Industry Report
Financial benchmarks, injectable economics, labor ratios, and revenue trends across U.S. medical spas. Built from public data, practitioner reporting, and Spa Ledger client benchmarks.
The numbers your bookkeeper does not track but your CFO should.
Revenue per treatment room, revenue per provider, and revenue per square foot for single-location practices at $500K, $1M, and $2M+ annual revenue.
Botox and filler margin benchmarks after full vendor COGS reconciliation, with breakdowns by neurotoxin brand following the 2025 Allergan-Galderma market shift.
Target labor percentage by practice size, injector vs. support staff mix, and how labor cost compares across Mindbody, Boulevard, and Zenoti operators.
Average break-even timelines for laser and body-contouring devices, session utilization benchmarks, and the correlation between device mix and overall EBITDA margin.
How leading practices structure membership P&L, deferred revenue recognition, and why membership penetration above 20% changes the financial profile of a med spa.
EBITDA margin ranges across practice sizes, the top three cost drivers that separate 30% margin practices from 15% margin practices, and what well-run looks like.
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