MedSpa & Eye Care Advisory

Most practice owners leave
20-40% of their value
on the table.

Revenue growth, margin optimization, and exit advisory for medspa and eye care practice owners. Based in Chicago, working nationwide.

30-minute call. No pitch. You'll leave knowing exactly where you stand.

A PE group reached out. Should I take the meeting?
Before you do, you need to know what your practice is worth, what their offer structure actually means, and what you will net. Most owners find out too late.
Revenue is up. So why am I not taking home more?
Growth masks leakage. Pricing gaps, underperforming providers, and overhead creep compound quietly. We find them.
I want to grow, or eventually sell. Where do I start?
Whether your horizon is 2 years or 10, the work is the same: clean numbers, tight operations, and a clear picture of what you're building toward.
How do I stack up against other practices like mine?
Most owners are flying blind. We benchmark your margins, revenue per provider, and KPIs against industry data so you know exactly where you stand and what to fix first.

Most owners don't realize how much value they're leaving on the table until they try to sell.

Specialties

Who We Work With

Independent and small multi-location healthcare practice owners. The sweet spot: owner-operated, 1 to 5 locations, $500K to $10M in revenue.

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Chiropractic
Solo and group practices, sports rehab, wellness clinics
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Dental
Independent practices, DSO-adjacent, cosmetic and general dentistry
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Other Specialties
Physical therapy, dermatology, concierge medicine, and similar owner-operated models
Competitive BenchmarkingMedical AestheticsEye Care & OptometryM&A AdvisoryExit ReadinessEBITDA NormalizationPE Rollup DefenseRevenue Per Provider AnalysisMembership Model OptimizationAutomation ConsultingChiropractic & RehabKPI DashboardsService Mix StrategyBoutique Engagements OnlyCompetitive BenchmarkingMedical AestheticsEye Care & OptometryM&A AdvisoryExit ReadinessEBITDA NormalizationPE Rollup DefenseRevenue Per Provider AnalysisMembership Model OptimizationAutomation ConsultingChiropractic & RehabKPI DashboardsService Mix StrategyBoutique Engagements Only
Competitive Intelligence

How do you actually compare?

Industry data shows the average medspa operates at a 38% profit margin, but the gap between top and bottom performers is significant. A practice at the top of key benchmarks can command 1.5 to 2x the valuation of one at the bottom. We show you where you stand and what it costs you to stay there.

  • We benchmark your margins, revenue per provider, and service mix against verified industry data for your practice type
  • Identify where you are above average and protect it, and where you are lagging and why
  • Competitive positioning is the foundation of any exit or growth strategy. Buyers pay premiums for practices that can prove they outperform
  • Know how PE groups and acquirers will view your numbers before they do
  • For medspas and eye care: we track membership penetration rates, treatment yield, and new patient acquisition costs against your local market
Your PracticeMetricSample Benchmark
?EBITDA Margin18-24%
?Revenue / Provider$380-520K
?Membership Penetration22-35%
?New Patient CAC$180-310
?Patient Retention Rate62-75%
How do these impact valuation?

Every percentage point of EBITDA margin, every dollar of revenue per provider, and every point of retention rate directly affects your exit multiple. A practice at the top of these benchmarks can command 1.5 to 2x the valuation of one at the bottom. We show you the gap and the path to close it.

See where you land โ†’

* Sample benchmarks shown. Actual ranges vary by practice type, size, and market.

Numbers That Drive Valuation

The metrics that determine what your practice is worth

Every engagement includes a deep look at how your practice actually runs. We deliver a prioritized roadmap of improvements tied directly to revenue, margin, and exit value.

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KPI and Performance Metrics
Revenue per provider, membership churn, new patient acquisition cost, retention rate, and chair utilization. We identify the 4 to 6 metrics that actually drive your practice value and show you exactly where you stand.
Analytics
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Systems and Tech Stack
We audit your PMS, billing tools, and patient communication platforms. We identify redundancies, integration gaps, and tools you are paying for but underusing. The output is a clean, prioritized systems roadmap.
Infrastructure
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Automation Opportunities
We map manual workflows - scheduling, recall, follow-up, billing, renewals - and identify where automation eliminates staff hours and reduces error rates. We tell you exactly what to build and in what order.
Operations
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Pricing and Service Mix
We use market data and your own financials to model optimal pricing by service line. Most independent medspas are underpriced by 8 to 15% relative to what their market will bear. AmSpa benchmarks confirm the gap.
Revenue
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Financial Data and Exit Readiness
Clean, buyer-ready financials increase valuation and reduce deal friction. We assess how your financials are structured and reported, and identify what needs to be cleaned up before you ever take a meeting with an acquirer.
Exit Prep
Nate LaBombard
Most practice owners don't find out what they left on the table until after the deal closes. I help you figure that out before you ever take a meeting with a buyer.Nate LaBombard ย ยทย  Founder, Benchmark Advisors ย ยทย  Chicago, IL
Background

Finance background.
Industry perspective.

Benchmark Advisors is led by Nate LaBombard, a finance professional with a background in investment banking and M&A advisory. He has worked on over $600M in closed transactions, including deals in the healthcare and aesthetics space.

Industry research, including AmSpa's annual benchmarking reports, consistently cites advisory support as a top behavior of the most successful practices, yet most owners don't engage one until they're already in a transaction.

He has seen what buyers look for, what kills deals, and where independent practice owners consistently leave money on the table. Most of the time it comes down to poor EBITDA normalization, pricing they haven't touched in years, and a complete lack of buyer-ready documentation.

Core specialties are medical aesthetics and eye care, but the financial fundamentals are consistent across owner-operated healthcare practices. If you're running a chiropractic group, a dental practice, or a specialty clinic, the questions we'll ask are the same ones a buyer's analyst will ask. We'd rather you hear them from us first.

We keep a small, selective client list. You get direct access, not a handoff to someone junior.

Book a Discovery Call โ†’

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    Investment Banking & M&A AdvisoryWorked on the deal side of transactions across healthcare and aesthetics. Knows exactly how buyers underwrite a practice.
  • ๐Ÿ“ˆ
    $600M+ in Deal Value ClosedCross-industry M&A experience with meaningful exposure to service businesses and healthcare-adjacent deals.
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    Institutional Financial ModelingGraduate finance training applied to your practice. The same rigor a buyer's analyst will bring to your numbers, on your side of the table.
  • ๐Ÿ’‰
    Deep Industry FluencyMedspa and eye care as core specialties. Familiar with the unit economics, membership models, and benchmarks that drive these businesses.
  • ๐ŸŽฏ
    Selective Client ListA small number of engagements at a time, by design. You get undivided attention and direct access throughout.

Engagements

How We Work With Owners

Three focused engagement types. Fixed fees, defined scope, and a real deliverable at the end. Each one built around revenue expansion, operational leverage, and exit positioning.

01 / Revenue Expansion

Profit & Operations Audit

A structured diagnostic that identifies where your practice is leaking margin and what to fix first. Includes competitive benchmarking against your practice type so you know not just what is wrong, but how far behind you are.

  • Revenue leakage and pricing gap analysis
  • Provider and staff productivity benchmarking
  • Competitive margin and KPI comparison
  • Membership and recurring revenue audit
  • Automation and overhead reduction opportunities
Deliverable
Prioritized action plan with financial impact estimates and benchmark comparison report.
Fixed-fee engagement. Pricing discussed on discovery call.
Inquire โ†’
03 / Operational Leverage

Strategic Advisory Retainer

A monthly engagement for owners who want a finance-minded advisor in their corner on an ongoing basis. Covers everything from KPI review to M&A prep to evaluating inbound acquisition interest.

  • Monthly KPI dashboard review
  • Ongoing competitive benchmarking
  • Growth strategy and capital allocation
  • M&A prep and deal evaluation
  • Automation and operational improvement
  • Direct access, no middleman
Deliverable
Monthly strategy session plus async support between meetings.
Monthly retainer. Pricing discussed on discovery call.
Requires Profit & Operations Audit or Exit Readiness Assessment.
Inquire โ†’
Differentiation

What makes this different

There is no shortage of consultants willing to take your money. Here is why the background matters.

  • 1
    We've been on the deal side

    Most consultants have never worked on an actual transaction. We have. We know exactly how a buyer's team underwrites a practice because we've built that analysis ourselves.

  • 2
    Real benchmarking, not guesswork

    We compare your practice against verified industry data, not anecdotal advice. You walk out knowing exactly where you stand and what it is worth to close the gap.

  • 3
    PE rollup fluency

    Private equity is aggressively rolling up medspas, eye care, chiropractic, and dental. We understand their playbook, which is directly useful whether you want to sell to them, compete against them, or just know what you are worth.

  • 4
    Selective by design

    A small number of clients at a time. You get direct access throughout, not an account manager and a junior analyst running a template.

Benchmark Advisorsvs.Typical Consultant
IB and M&A deal background|Marketing or ops only
Real competitive benchmarking|Anecdotal benchmarks
Models for buyers, not optics|Revenue-focused frameworks
PE rollup strategy expertise|No deal experience
Direct access, no layers|Account manager handoff
Fixed-fee, scoped engagements|Open-ended retainers
How It Works

From intro call to deliverable

Simple and structured. No onboarding maze, no scope creep.

1
Discovery Call

30 minutes. We learn your situation, your goals, and what is actually on your mind. No pitch.

2
Scope & Proposal

A short written proposal with a defined scope, timeline, and fixed fee. No surprises.

3
Engagement

We work through the defined scope together. Direct access throughout.

4
Deliverable

A clear, actionable output you can use. Not a slide deck that collects dust.

Limited Availability

Ready to see where you actually stand?

Best fit for medspa and eye care practice owners doing $500K or more in annual revenue. If you're in growth mode or within 3 years of a potential exit, the right time to start is now.

Every month you wait costs you money in leaked margin, missed pricing, and eroding valuation.

Get a Free Growth & Exit Assessment โ†’
Get In Touch

Start the conversation

Tell us about your practice and what you are trying to solve. We will respond personally within 24 hours.

๐Ÿ“Chicago, IL
โšกResponse within 24 hours on qualified inquiries

Your information is never shared or sold.