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Medical Spa Business Forum > Business Managing Director-Med Spa, Need Advice for Compensation!

Hi, I need some advice as I'm in a unique situation. I have been offered a position as a Managing Director for a dermatology practice in which the physician wants to expand it in to a Medical Spa. I'm responsible for the whole business expansion. Basically the Medical Spa part, I'm coming up with the business plan, the Spa menu, I will be hiring, and training the estheticians, and massage therapists, organizing the whole business, including the medical facility as it will be all merged.
In addition, I will be taking charge for the marketing, in-house online marketing. I have a degree in Marketing, MBA, and have Esthetician license with experience. I'm asked to come up with the compensation plan, however, I don't know their financials and revenues, My responsibilities will be almost at a partner level, but of course I will be payed salary.
I also have work experience close to 7 years in marketing management. The physician is established in a wealthy area close to Bel Air, (Los Angeles, CA) for over 18 years.
With my experience and education, how much salary would be fair, and how much bonus or percentage of monthly revenue can I ask????? Is there any good compensation model I can propose. The physician is going to invest into the remodeling, so I want to ask for a fair compensation, on the other hand I have loans to pay back and it needs to make sense for the ROI for my degrees.
I appreciate your response asap, Thank you,

03.17 | Unregistered CommenterMarie

Please also feel free to email me at angeldream00@gmail.com, Thank you!

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