Becker Private Equity & Business Podcast
Evaluating Your Business Journey with Jennifer June of VMG Health 5-7-25
Wed, 07 May 2025
In this episode, Jennifer June, an expert from VMG Health, shares insights on what it takes to successfully scale a medical spa business. From evaluating operational readiness to avoiding common pitfalls, they break down strategic growth steps every provider should consider. This episode is sponsored by VMG Health.
Chapter 1: What are the benefits of using Shopify for entrepreneurs?
Ich bin Charissa und meine Empfehlung an alle Entrepreneure, startet mit Shopify erfolgreich durch. Ich verwende Shopify schon seit dem ersten Tag und die Plattform macht mir nie Probleme. Ich habe viele Probleme, aber die Plattform ist nie eins davon. Ich habe das Gefühl, dass Shopify ihre Plattform kontinuierlich optimiert. Alles ist super einfach, integrier- und verlinkbar.
Und die Zeit und das Geld, das ich dadurch spare, kann ich anderweitig investieren. Vor allem in Wachstum.
Chapter 2: What challenges do private equity firms face in business growth?
Jetzt kostenlos testen auf shopify.de. Wir sind in einer Zeit, in der Privat-Equity mehrere verschiedene Herausforderungen mit ihren Sponsoren hat, wo sie beide sehr hart arbeiten, um den gleichen Verbrauch, den organischen Verbrauch, das Geschäft in die richtige Richtung zu bringen. Sie können auch auf Akquisitionen und anderen Größern, außerhalb des organischen Verbrauchs, arbeiten.
But the acquisition growth has gotten harder and harder. So we've got more and more people looking at how are operations going? How do we get them better? How do we assess them? Jennifer is going to talk to us today about a lot of that. Jennifer, can you take a moment and introduce yourself and tell us a little bit about your background and about VMG Health? Sure.
Chapter 3: Who is Jennifer June and what is her expertise?
Thank you for having me. My name is Jennifer June and I am a senior consultant with VMG Health. We specialize in aesthetics, plastic surgery and dermatology as well as ophthalmology. I am an expert in the aesthetics field. My background lies in over 20 years of retail health and wellness in startups and turnaround situations working with private equity.
Most recently opened and grew my own med spa chain to 12 locations regionally on the northeast and was able to sell them to a private equity group in January of 2024. I've also worked for some of the larger chains as well throughout the United States in the aesthetic space.
Chapter 4: How to evaluate the readiness of a med spa business?
So that's amazing. So you're both an operator, you've been an operator, a founder, a consultant. What an amazing... Congratulations and what an amazing background. So as you assess... Businesses and locations and situations. Talk to us about how you start to look at what you're assessing and where do you start on that? And how you look at locations, is the location thriving and profitable?
Tell us a little bit about how you look at these types of businesses.
Das erste, was man sich anschaut, ist eine SWOT-Analyse. Man kann nie vergessen, wie wichtig eine SWOT-Analyse ist. Vor allem im MedSpa-Bereich, um sicherzustellen, dass man die richtigen Entscheidungen macht. Wichtige finanzielle Gesundheit, also deine wichtigen Indikatoren, Profitabilität, Geldfluss und Kosten. Und dann natürlich sind die operativen Effizienzen sehr wichtig.
Chapter 5: What is a SWOT analysis and why is it important?
The first thing to look at is your staffing capabilities and the technology, your tech stack, and just making sure that you're equipped to grow your business in the direction that you want to grow it.
Take a moment there. It's so funny you mentioned the term SWOT analysis. I'm of the age and vintage where that was a phrase used all the time, constantly. Just take one moment and explain to the audience, for those that don't use that term as often as I used to or we did in my generation, was eine SWOT-Analyse ist. Und ich vermute, dass die meisten Leute wissen, was eine SWOT-Analyse ist.
Aber ich bin nicht sicher, weil ich den Begriff nicht so oft höre. Aber du hast recht, es geht um die Grundlagen. Erzähl uns etwas über eine SWOT-Analyse.
Ich glaube, wir hören es nicht so oft, und deshalb bringe ich es auf. One of the most important things is to look outside of your own four walls. And so with your SWOT analysis, one looking at your strengths as a business and looking at your team strengths and your weaknesses, which sometimes is really hard.
Not everybody wants to admit or look deep down at their weaknesses and see what they need to fine-tune. Then you have opportunities. So what opportunities do you have to become better every single day at what you're doing? And then who's around you threatening you? Are there businesses opening up?
And especially in the med spa space today, Scott, five years ago, ten years ago, there were a handful of med spas. Now they're opening. I mean, you've got four and five in a single town in any given state. So making sure that you understand also who's out there and who's coming. and what threats are there.
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Chapter 6: How does the economic environment affect the med spa industry?
So your spot analysis is understanding your strengths, your weaknesses, your opportunities and your threats.
Let me ask you a question on this, Jennifer. How do you look at the med spot businesses? You're absolutely right, there's been so much growth, so much of it fueled by consumer spend, direct consumer spend versus payer spend. What's the recession resistancy of the med spot space? What do you see there?
Es ist interessant. Ich sage immer, wenn Zeiten schwer sind, also Rezessionen, dann müssen die Leute irgendwo suchen, um sich besser zu fühlen. So the med spa space, actually any aesthetic space, this is actually an opportunity for them.
As long as you've got your team in place, you're providing proper training and you're really not spending money in a way that's frivolous, buying extra equipment, overdoing your inventory. It's a great opportunity for med spas and anyone in the aesthetic space right now to capitalize. on the current economic environment.
Chapter 7: What strategies help in building a successful med spa team?
Thank you very, very much. And when you look at a MedSpot chain or team and you talk about their team, the team that they're working with, how do you assess their team and how that business looks or how do you help them think about that?
Das ist großartig. Eines der wichtigen Dinge ist, dass es immer eine Strategie gibt, um großartige Leute und Top-Talente zu rekrutieren. Und auch eines der Dinge im Wachstum eines ästhetischen Unternehmens, des MedSpa, ist, sicherzustellen und sicherzustellen, dass du ein konsistentes Trainingsprogramm hast, das die Werte und die Kultur deines Unternehmens stärkt.
Und das kann durchschnittlich in jedem einzelnen Büro sein, sobald du wachst. Konsistenz ist wirklich das Wichtigste.
Danke. Du bist von, ich nehme es an einem Punkt, von einer Position zu zwölf Positionen gegangen.
Erzähl uns ein bisschen darüber, wie Sie sich auf größerer und größerer Ebene bewegen, entweder in einer Position, die sich in einer größeren Position entwickelt, oder in mehreren Positionen, wie wichtig sind die Prozesse und Dokumente und Systeme, um ein Geschäft zu runtern, versus nur gute Leute und wahrscheinlich die Bedürfnisse für beide. Aber wie denkst du darüber nach und beurteile das?
So, it's interesting. The first step is really to take a look at what documents you have in place now. So, whether it's from your vendors, whether it's stuff that's been created internally, whether it's from a marketing standpoint, and really ensuring that the systems are being utilized the way they were designed to be used.
A lot of times when there's even a training program, I always say folks do 50% of what they learn in the classroom. So making sure that you've got a real buckled up training program, that you have a proper employee handbook with process and procedure, and really making sure that everything is standardized across locations, including your inventory processes and scheduling processes, your hours.
And I think to really sit back and how do you take a look at it when you're looking at other businesses or anyone's business and providing any consulting advice, ist, dass die Mitarbeiter engagiert und involviert sind in dem ganzen Prozess, und dass sie sie folgen. Wenn sie nicht folgen, dann muss man natürlich schauen und sie wahrscheinlich wiederholen. Vielen Dank.
Nehmen Sie einen Moment. Wie haben Sie Ihr eigenes Geschäft angefangen? Wie haben Sie das angefangen? Was war das Genesis? Erzählen Sie uns ein bisschen über diese Geschichte als Founder.
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