Med-Spa / Medical Aesthetics Acquisition & SBA Underwriting Financial Model (Excel + Google Sheets)

Description
A lender-ready acquisition model for buying a single-location med-spa (medical aesthetics) with an SBA 7(a) loan. Revenue is built bottom-up from injector productivity - FTE providers times revenue per provider - plus the recurring membership book and skincare retail, each at its own gross margin, so Gross Profit and SDE fall out of the mix.

The differentiator is the dual add-back a broker's sheet skips. First, under corporate-practice-of-medicine (CPOM) rules a non-physician buyer must contract a medical director; if the seller was a physician-owner, that fee is simply absent from their P&L. Second, the owner is usually the top injector, so a non-injector buyer must re-hire that chair. Adjusted EBITDA deducts a manager, the medical director and the owner-injector replacement, and the model shows the TRUE DSCR (1.23x) right next to the NAIVE broker-style DSCR (2.17x). The gap is those two hidden costs.

It structures a 3-part SBA 7(a) capital stack, runs the lender's DSCR gate with a membership-book coverage line (~204%), and prices the sector's number-one risk - the key injector walking with the clientele - in an explicit injector-loss down-case DSCR of 0.83x. Includes a 3-way profile toggle (Balanced, Injectables-Heavy, Membership-Forward), a 5-year P&L, Returns & Exit, a Dashboard with a DSCR bankability grid, and a 23-page PDF guide. Honest by design: SDE 30%, Adjusted EBITDA 14.5%, no IRR headlined. Machine-verified with 62 automated checks across three engines. Works in Excel and Google Sheets - no macros.