Growth and Opportunities
We keep hearing that we must invest in our health, and people are beginning to heed the advice with both financial and physical means. The tremendous growth in the Medspa industry is a major indicator that people are, in fact, investing and paying attention. This increased interest has led to some big changes for several players in the wellness space and people around the world are trying to see how they can make the wellness industry work for them.
While the wellness space includes different approaches and therapies for specific problems clients might have, new partnerships and mergers have been cropping up within the community. Industry leaders have mentioned that several health-centered businesses may be looking to merge with other wellness ideologies and expand their services.
Some of these mergers and collaborations are resulting in exciting growth opportunities within the space. The American Medspa Association (Amspa) is one of the “legal, business, and clinical training” organizations for the aesthetic wellness industry, and is helping businesses collaborate and share experiences so that they might grow. Industry expert Ben Hernandez, who led an investor symposium at the AmSpa conference earlier this year, noted that the aesthetic wellness industry, which includes treatments such as Botox, skin care, and laser/light therapy, is expected to achieve an 18.4% growth over the next decade. With this sort of potential, let’s just say that a lot of investors are taking note and getting excited.
Ben says that investors are beginning to pull together several businesses in the wellness industry, and having them operate under one name. Gym chains may look to acquire spa practices, chiropractic spaces might invest in yoga studios, or ophthalmology and dentistry might eventually be under the same management. Practices are merging their therapies and clients and operating under a similar “playbook”, with a centralized organizational administration. These mergers are creating big changes in the industry with more opportunities for holistic health.
Ultimately, these mergers and acquisitions will make wellness more accessible and available. Ben explained that the general clientele of the wellness industry has shifted over the past ten years from women in their 50s to a younger, more inclusive population, and that he expects more and more people to be comfortable with trying the wellness treatments and speaking openly about them.
Ben also noted that several new cultural and technological advances have inspired this shift. Many professionals working remotely are now spending a portion of their time looking at themselves on a video chat screen, and culturally, we are spending more time seeing ourselves and our peers on social media than ever before. The increased time on webcams and online has inspired more people, regardless of gender and age, to seek aesthetic services from the wellness space. Ben says this demographic shift is helping the wellness industry to gain attention, acceptance, and legitimacy.
A newfound popularity and acceptance in the community creates a wave of interested investors and opportunities. Mergers allow companies to negate their limitations by adopting other well established business practices for a symbiotically beneficial relationship. Because many health and wellness practices seem to go hand in hand, it is beneficial to join forces with a company that has a variety of skills and practices in their toolbox.
Above and Beyond
Though the wellness industry technically has multiple approaches that each focus on a different strategy for healing, there are a few businesses that promote wellness from multiple angles using a much more holistic approach. Liquivida, which initially specialized in IV vitamin therapy, has broadened their scope to include aesthetic services as well. Liquivida’s website advertises treatments to include hormone replacement therapy, IV treatments, medical weight loss, medical aesthetics, regenerative medicine, and sexual health. Compared to its competitors who may only be involved in one field of wellness or another, Liquivida is making strides in multiple areas, and is making a name for itself as one of the thought leaders of the industry.
Liquivida also works as a distributor to medical offices themselves. Liquivida uses their IV expertise to provide doctors’ offices with their notable IV vitamin kits and packets so they can spread wellness wherever possible. This year, they will lead the first ever IV Biz Bash Conference in Orlando, FL., where they will share best practices in overall wellness. According to Samael Amaury Tejada (who goes by Sam), a retired firefighter/paramedic and the founder of Liquivida, Liquivida provides IV kits to “over 4,000 doctors throughout the United States.”
The growth and overlap of the wellness industry is inspiring a shift for health professionals. In fact, many medical professionals are leaving hospitals and private practices and investing their skills into Medspa/ IV therapy services. Sam notes that “many people who work in the hospital setting, they’re sick and tired. They want to get out of conventional medicine, but they just don’t know how to start.” Liquivida employs a group of over 15 doctors and nurse practitioners who work with holistic medicine, proving that wellness spaces are becoming reputable places to contribute to the health of society.
Liquivida is also setting the tone for the future of health and wellness. Emmanuel Trenche, a key executive of the Liquivida leadership team, notes that they are one of the first to modernize the medical office and change perspectives of what a typical experience would entail. He says that doctors are transitioning from private practices to functional and proactive medicine, and that they are considering franchise opportunities in the industry that don’t need to rely on health insurance payouts. “Liquivida is showing savvy business seekers how to take advantage of franchising with an established brand, and they offer the tools and resources needed to successfully run a cash based practice.” With familiarity in multiple arenas and an established brand, Liquivida is a fast growing franchise opportunity for investors who are excited about where the industry is headed as it becomes more mainstream.
Because of their variety of services and involvement in several aspects of the wellness continuum, Liquivida is going to be a business to watch over the next five years as the space seems to explode with popularity. Several businesses are joining forces right now to meet the needs of the clientele, and industry leaders like Ben Hernandez are taking note. Liquivida has professional experience, knowledge, and a diverse collection of services to offer to help grow the wellness industry beyond its current impressive trajectory.
The wellness space is currently filled with opportunities to merge, combine, and acquire. As Ben Hernandez said, “Health care is sexy right now.” He notes that there are few negatives to the levels of expected growths, and only lots of excitement. Many investors have hopped on the wellness train and are reaping the benefits. We already know that our health is worth investing in, both financially and physically. With the growth of the industry and the separate practices combining forces, Liquivida seems to be one of the leading options because of their service offerings and reputation in the space.
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