Is there too much competition in my city?
Are there too many cryotherapy shops in your city?
When opening a new business it is important to determine if the market is already oversaturated. Is there too much competition in your city already? Would it be a mistake to open a new cryotherapy business in a city that already has established cryotherapy centers? Not really, but only if you have a better twist on an old science. Cryo Innovations has analyzed every cryotherapy machine on the planet and has designed its XR Chamber specifically to help you enter the marketplace.
Is There Too Much Competition In My City?
Some cryo-competitive cities such as Los Angeles and New York have a cryotherapy business at every major intersection. While it would make sense to search for a city where cryotherapy is completely brand new there is more profit to be made in larger cities. Why? Because the competition between existing businesses has already driven the demand up. While competition can keep prices moderate any healthy competition maintains and grows the market for cryotherapy.
What Coffee Shops and Cryo Have In Common
Ten years ago many people felt that with Starbucks "taking over" that soon the local coffee shops would be out of business. But the opposite happened, and local coffee connoisseurs began avoiding the corporate coffee stores in favor of local shops. What was the causative factor? A personal touch and a sense of belonging to the local coffee shop. Successful cryotherapy businesses in large cities have followed the same method to great success. Many shops sell membership programs, but the most successful go out of their way to make customers feel like they belong. Is there too much competition in your city to start a cryotherapy business? Not if you make an actual connection with the customers.
Starting a Cryotherapy Business In A Saturated City
Savvy entrepreneurs will use their first months of opening to build their customer base. This is often done through specials, new customer coupons, and exclusive deals for locals. Once you actually get a customer into your business you must make them feel valued. Forbes magazine identified 11 methods that cryotherapy business owners can use:¹
Verbally and genuinely thank your customers
Reach out and tell them you are thinking of them
Check in with them after the treatment
Ask them what they really liked and maybe disliked
Always tell them the truth
Show them that you are taking their advice and feedback
Send them a handwritten note
Give them a special gift just for them
Ask about their family, hobbies, and vacations. Get to know them
Tell them how their support has helped your development
Treat them like the hero of your story
Just because your target city already has some cryotherapy offerings it does not mean that you are prohibited against opening your own. Many successful companies begin in an already saturated market. Those that survive are the ones that take care of their employees and customers. Interested in learning more about buying a cryotherapy machine? Click here to see how easy it is (no email or registration required). Are you curious about the science behind cryotherapy? Check out our list of peer-reviewed cryotherapy clinical studies.
Founded on facts: for peer-reviewed articles, scholarly journals, and articles cited above please see the below sources.
NOTICE: Information contained within this website and in all materials, communications, or presentations by Cryo Innovations and Cryo Recovery Lounge is for informational purposes only. Whole Body Cryotherapy, infrared sauna, hyperbaric chamber, and any and all recovery methods described and/or offered by Cryo Recovery Lounge or Cryo Innovations are 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 or recovery method. 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.