About Us
Built by operators,
for operators.
Upkeep Ventures was founded by someone who has actually run med spas — across multiple locations, multiple brands, and every market condition. We know what it takes, and we built a structure that finally works in your favor.
Our Story
The problem with med spa exits
The aesthetics industry is a $30 billion and growing market — yet the options for med spa owners who want to exit operations are remarkably bad. Private equity wants to buy you out at a discount and rebrand your practice. Brokers charge commissions to introduce you to the same investors. Most owners end up selling their equity for less than it's worth, or staying stuck in a business they're burned out running.
The founders of high-performing med spas are operators, not investors. They built something real. The problem isn't the business — it's the fact that there was no management infrastructure behind it. Leadership wore every hat. Growth was personal. Burnout was inevitable.
Upkeep Ventures is the solution that should have always existed: a management partner who takes over operations, deploys proven systems, lowers costs through scale, and only gets paid on the growth we generate together. You keep every share.
Leadership
Meet the CEO
Shane Smith
Founder & CEO, Upkeep Ventures
Shane Smith brings nearly two decades of experience in medical aesthetics and over $1 billion in career sales to Upkeep Ventures. He has built, scaled, and operationally turned around multi-location service businesses at every stage — from early-stage founding through institutional investment.
Shane is the Founder of UPKEEP Med Spa, an Inc. 5000-recognized company with locations in New York and Texas. He currently serves as CEO of Alchemy 43, a leading aesthetics brand backed by Penultima Capital, with locations across major U.S. markets. Together, he oversees a growing platform of 16+ locations in some of the most competitive aesthetic markets in the country.
Before Upkeep Ventures, Shane led the profitable turnaround and growth of a founder-operated medspa to 11 locations. Earlier in his career, he held senior operating roles within an organization spanning 2,000+ locations across North America — giving him rare experience in both intimate operator environments and large-scale enterprise systems.
Shane's operating approach is built around three principles: provider productivity, standardized operations, and scalable management infrastructure. These are the same principles Upkeep Ventures deploys across every partner practice.
Portfolio
Brands under management
Upkeep Ventures currently operates two established medical aesthetics brands, with a platform built to grow.
Alchemy 43
Shane Smith, CEOA leading aesthetics and wellness brand redefining beauty through personalized, results-driven micro treatments. Backed by Penultima Capital, Alchemy 43 combines expert medical providers, advanced technologies, and a modern client experience across major U.S. markets.
alchemy43.com →UPKEEP Med Spa
Shane Smith, FounderAn Inc. 5000 multi-location medical aesthetics platform founded in New York City. Known for strong clinic-level performance, disciplined patient acquisition, and a consistent client experience across locations in New York and Texas.
upkeepmedspa.com →Our Values
How we operate
These aren't aspirational statements. They're the principles we apply to every partner relationship and every business decision we make.
Alignment Over Everything
Our compensation is structured entirely around your growth. We don't charge management fees. We don't take equity. We earn only on the upside we create — which means our interests are always identical to yours.
Operator Mentality
We don't advise from the outside. We step in, run the business, and take ownership of outcomes. Every decision we make is the kind of decision an owner makes — because we treat your practice like it's ours.
Respect for Builders
You built something. That matters. We never rebrand, restructure, or override what's working. We preserve what makes your practice valuable while adding the infrastructure it needs to scale.
Transparency
No hidden terms. No complicated structures. You'll always know exactly how we're compensated, what we're doing operationally, and how your business is performing. Honest numbers, open books.
Common Questions
Frequently asked questions
Still have questions? Reach out directly — we're happy to walk through your specific situation.
Do I really keep 100% of my equity?
Yes. Upkeep Ventures takes zero equity in your business. Unlike traditional PE roll-ups or management buyout structures, we do not require any ownership stake as a condition of our partnership. Your business remains entirely yours — your name, your brand, your shares. This is a fundamental part of our model, not a negotiating point.
How does your compensation structure work?
We earn a percentage of the incremental growth we generate for your practice. That means our compensation is tied exclusively to performance above your baseline — not flat fees, not retainers, not equity. If your business doesn't grow under our management, we don't get paid. This structure ensures full alignment from day one.
What happens to my brand and my staff?
Everything stays. Your brand name, your visual identity, your existing team — none of it changes unless you want it to. We bring in operational systems and infrastructure, not a rebrand. Your staff continue working under the same leadership they know; we add management support above and around them, not instead of them.
How do you lower my costs?
Upkeep Ventures leverages group purchasing power across our portfolio of brands. By consolidating buying across multiple locations and practices, we access substantially better pricing on injectables, devices, consumables, marketing platforms, staffing, and technology. As a solo operator, you pay retail. Inside our network, you pay wholesale — and the savings go directly to your bottom line.
Can I still be involved in my business?
Absolutely. Every partnership is customized to your goals. Some owners want to step back entirely and receive distributions while we handle operations. Others want to stay involved in clinical leadership, culture, or strategic direction. We build the operating agreement around what works for you — there's no one-size-fits-all requirement. The key is that day-to-day management burden is ours, not yours.
Let's talk about your med spa
Start with a no-obligation conversation. We'll walk through your business, your goals, and exactly what Upkeep Ventures can deliver — with real numbers, no pressure.
Schedule a Call