Is Cryotherapy Business Profitable?
A cryotherapy business is first and foremost a business. Cryotherapy is the service that the business provides. Just like any other business it must make a profit to survive and it does that by providing cryotherapy to customers. But is that all it takes? Simply renting a building space, buying a cryo chamber, and designing some business cards will not make a successful business. How do the industry leaders make so much money?
The #1 Rule for Starting any Business
Why do so many startups fail? Because the business owner offers a service or product without determining if there is a need for it. Imagine if you wanted to start a hot-soup business. Would you sell more soup opening shop in the middle of super-hot Death Valley, California, or in Minneapolis, Minnesota, where it can get very cold? Obviously in a colder city more people would want to buy hot soup. The product is the same, but the problem is different. Businesses are successful when you identify a problem and offer a solution. In this example the problem was the cold weather, and the solution was hot soup. In starting a cryotherapy business you must first identify a need for it, and offer cryotherapy as a solution to that need.
Does Your Area Need Cryo?
Let’s face it: if your city is not a fitness or image-focused city then cryo may not be a wise choice. Try a Google search for “gyms near me now” and see how many gyms show on the map. Each gym is a potential source of new clients. Cryotherapy is a solution to the problem of inflammation and sports recovery, and as such it is enjoyed by athletes, fitness enthusiasts, and people who are trying to look their best. Examine your area and take notice if there is a university, gyms, fitness centers, tanning salons, and yoga studios. If there are then you are likely targeting an area that is in need of workout recovery, and cryotherapy is the 3 minute solution to that problem. But if your area has only one gym, no college athletes, and only a small high-school then it may not be a good choice to launch a new cryotherapy business.
Is a Cryotherapy Business Profitable?
Cryotherapy is a growing industry with a bright future. The entire industry forecast is that cryotherapy will meet the 5 billion dollar mark by the year 2025. Cryo is profitable because of the relief it provides: inflammation is reduced, overuse injuries heal faster (or can be prevented), and calories are burned to add to a workout’s benefits. Each session will cost a business owner roughly five dollars worth of nitrogen; however, a cryo session can sell for $35 to $80. At an example price of $39 dollars per session you can net $34 dollars. That adds up to $680 profit for one session per day for 20 days in a month. Most cryotherapy businesses run more than a single session per day, and some run over 10 sessions per day. An example of a successful cryotherapy business is a day spa that has currently exceeded over 10,000 sessions and realized a full ROI in 17 weeks.
Adding Cryotherapy to an Existing Business
Cryotherapy is an excellent add-on for existing businesses such as tanning salons, chiropractic, gyms, and fitness centers because it draws new customers in and allows existing customers to add cryo as part of their service bundles. Tanning salons have found that on average 1 out of 5 new customers arrive for cryotherapy alone and eventually purchase bundled packages of cryo with tanning, red-light therapy, or FIT bodywrap. Gyms add cryo to membership packages and athletes find that cryo helps them avoid injury by reducing inflammation and that it burns calories. Recovery businesses, such as physical therapy and chiropractic offices, add cryotherapy to help patients improve metabolism and recover faster from strenuous workouts.
Don’t Do Marketing Yourself
One of the many benefits of Cryo Innovations is that you never have to design your own marketing materials or social media posts. We provide custom made flyers, posters, website pictures, and social media posts with your logo and name as part of our service. You will not have to hire a “social media manager” because with our free resources and training you can manage your own social media with professional pictures, videos, and GIFs for your Facebook, Instagram, or any other social media outlets. In addition Cryo Innovations works with liquid nitrogen suppliers across the country and will make all of the necessary introductions for you to have a seamless first delivery and as often as you need it.
Click here to see business revenue models and to try out our revenue calculator to see how much money you can make with a new cryotherapy business.
NOTICE: Information contained within this website and on all materials, communications, or presentations by Cryo Innovations is for informational purposes only. Whole Body Cryotherapy is neither designed nor advised for treatment or cure of any illness or disease. No cryotherapy chambers (including the XR) have been tested or approved by the FDA. Please consult with your medical professional before beginning any cryotherapy. All material contained within this site is copyrighted and may not be reproduced in any form without prior written permission. All rights reserved. For permissions contact Cryo Innovations.