Core Insights - Greenwich Medical Spa is celebrating its 20th anniversary, marking a significant milestone for the founder and CEO, Marria Pooya, who has realized her American Dream [4][11][16] - The business has expanded to seven locations in the tri-state area, growing from four employees to 60 professionals [8][9] Company Background - Marria Pooya founded Greenwich Medical Spa in July 2005, inspired by her experiences in Afghanistan and her first cosmetic procedure in the U.S. [3][4] - The flagship location is situated at 1285 E. Putnam Ave. in Riverside [8] Services Offered - Greenwich Medical Spa provides non-surgical aesthetic treatments, including Botox, dermal fillers, laser treatments, wellness services, weight loss programs, and hormone replacement therapy [9] Achievements and Recognition - The spa is ranked among the top 50 out of 25,000 practices nationwide by Allergan, the maker of Botox, highlighting its exceptional patient care and safety [9][10] - It has received accolades from various publications and was named in Inc. 5000's Fastest-Growing Private Companies in America in 2020 [11] Challenges and Resilience - The business faced significant challenges, including a fire incident that caused extensive damage and delayed operations for about two and a half years [12][14] - Despite these obstacles, the company demonstrated resilience and resourcefulness, ultimately expanding its flagship location from 2,500 square feet to 6,000 square feet [14] Community Engagement - Greenwich Medical Spa actively partners with local organizations and nonprofit groups that support women and minorities, which is considered a core pillar of the business [15] - The founder emphasizes the importance of personal connections with patients and the positive impact of treatments on their self-esteem [15][16] Future Plans - The company aims to expand further into the Northeast, with plans to open around 10 additional locations over the next five years [16]

Group 1: Med Spa Industry Overview - The med spa industry has experienced significant growth, expanding sixfold from 2010 to 2023, with over 10,000 locations in the U.S. and average annual revenue per spa nearing $1.5 million [33] - In 2023, the med spa market was valued at $15 billion, with projections indicating a 15% annual growth rate moving forward [34] - The industry is characterized by a mix of medical and spa services, requiring medical professionals for certain procedures, but with relatively low barriers to entry [32] Group 2: Investment Opportunities - Limited direct investment opportunities exist in the med spa business, as many are privately held, but there are opportunities in the products sold, particularly dermal fillers and neurotoxins [34][35] - AbbVie, the owner of Botox, and Evolus, which specializes in aesthetic products like Jeuveau, are key players in this market, with Evolus expected to expand its product line to include fillers [35][37] - Evolus' unique cash pay business model allows for greater flexibility in pricing and marketing compared to competitors, potentially leading to higher profitability for injectors [36] Group 3: Competitive Landscape - Botox remains the market leader with a market share in the mid-60s, but faces increasing competition from Evolus and other neurotoxins, which have been gaining market share [39] - Evolus has reported a 30% year-over-year sales growth for Jeuveau, indicating strong demand and market penetration [39] - The overall market for neurotoxins and fillers is expected to grow at high single-digit to low double-digit rates, driven by increasing consumer demand [39]