Medical Spa Law
Looking to open your own Medical Spa practice in New York? We can help you get started.
How Much Space Does a Spa in NY Need?
For most medical spas, it’s recommended to have around 1500 to 2000 sq ft for your business. The cost per square foot varies greatly depending on location, between the boroughs and even avenues. In New York this can be expensive, but the environment your clients experience during the visit can make them run away or keep them coming back. You don’t want to read a review later on that the client felt like they were treated in a closet. You will most likely need to have a minimum of one room per provider in your office, but as your business expands and grows you will need more space.
For a non-ground floor office space in Midtown NYC you’re looking for per square foot rent of $55-70. This means that if you’re starting with a 1000sf space, your yearly rent will be $55,000-$70,000 or $4583 to 45833 a month, plus utilities and other expenses. For a ground floor space, the typical rent would be 3 or 4 times this amount.
Take consideration in your lease terms and length. Make sure your practice lawyer reviews every addendum, so you don’t get stuck in a bad situation. Some NYC leases can go for 5 years – will the space you lease now still suit you in 5 years when you’ve expanded? You’ll also want to look at the initial investment for construction, and estimate how much it will cost to open your medical spa.
The location you choose for the business could determine its success or failure – so a lot of consideration should go into it. The location should have good foot traffic, and prominent and eye catching signage that will make people stop by and take a closer look. Look for other, popular businesses around yours so you can benefit from their traffic as well.