Amanda Blank, CEO of Founders Beauty Group, discusses her company’s growth via a hub-and-spoke model across four geographies, achieved through acquisitions of doctor-owned, cash-pay med spas. She details how she prioritized partnerships with high-net-worth family offices over private equity during early growth, emphasizing the need for patient capital and industry-specific expertise. Amanda highlights why GLP-1s are unlikely to anchor med spa services due to regulatory and market challenges, while identifying durable competitive advantages in a low-barrier sector. She also shares how leading a woman-owned platform has influenced Founders’ strategic focus on community trust and operational scalability.

Specialized knowledge remains critical for med spa investors, as Amanda explains. Investors lacking deep sector insight risk overlooking nuances like regulatory compliance, provider networks, and patient retention strategies. This expertise, she argues, is vital for navigating the sector’s evolving landscape, including shifts toward aesthetic and wellness services beyond traditional cosmetic treatments.

Blank’s decision to avoid private equity at key growth stages reflects her focus on aligning with partners who share the company’s long-term vision. Family offices, she notes, offered flexibility and shared values, avoiding the pressure of exit timelines typical in PE deals. This approach, combined with her emphasis on cash-pay models, has strengthened Founders’ market position by attracting patients seeking transparent, upfront pricing.