Icryo Franchise Cost Systems Revenue Reviews

 

Cryotherapy and other wellness services are offered by the US-based business iCRYO. A treatment called cryotherapy involves briefly subjecting the body to extremely low temperatures. Liquid nitrogen is frequently used in this procedure. Standing in a chamber that has been cooled to as low as -250°F for 2-4 minutes is part of whole-body cryotherapy. In this article, I will elaborate on Icryo franchise cost, revenue, and systems.

The global cryotherapy market size was estimated at USD 3.8 billion in 2020, and from 2021 to 2028, it is projected to expand at a compound annual growth rate (CAGR) of 11.3%. The expanding use of alternative therapies for pain management, more awareness of cryotherapy’s health advantages, and the growing use of cryotherapy in sports medicine are some of the factors that are fueling the rising demand for cryotherapy services.

 

What is iCRYO?

Other health services provided by iCRYO include cryo facials, infrared sauna sessions, and cryoskin toning and slimming. These offerings are meant to promote overall wellness, ease pain, treat skin problems, and induce relaxation.

Is iCRYO a Franchise Opportunity?

Yes, For those who are interested in owning and running their own cryotherapy and wellness centre, iCRYO does indeed offer a franchising opportunity. You will receive assistance and training from the business as a franchisee, including assistance with site selection, store design, and marketing. 

Facts That Nobody Told You About iCRYO

Here are some interesting facts about iCRYO that you may not have known

• Kyle Jones, a former professional baseball player, and Bill Jones, a business entrepreneur, established iCRYO in 2015.

• In addition to cryotherapy, iCRYO provides a variety of other health services, such as infrared sauna sessions, cryoskin toning and slimming, and cryo facelifts.

• Modern machinery and technology are used by iCRYO to deliver safe and successful cryotherapy treatments.

Franchise Review and Information
Industry Type	Services Franchises
Sub Category	Health and Wellness Franchise Opportunities
Year Established	2017
Company Name	iCRYO
Founder/Management Head	Bill Jones, Chairman/CEO
Franchising Started	2017
Number of Units	23
Number of Franchise Units	23 (2022)
Social Media Handles	Facebook
	Twitter
	Instagram
Company Office Location	Houston, TX, USA

 ICRYO Franchise Requirements

The following criteria must be met in order to open a franchise

1. Financial Requirements

In order to become a franchisee of iCRYO, you must have a minimum net worth of $250,000 and $100,000 in liquid assets.

2. Business Experience

Previous ownership or management experience in a business is preferred but not necessary. Nonetheless, iCRYO searches for franchisees that are committed to providing top-notch customer care and who are passionate about the wellness sector.

3. Franchise Fee

The $39,500 franchise fee is required to open a new iCRYO site.

4. Royalties and Advertising Fees

As a franchisee, you will continue to pay 6% of gross sales in ongoing royalties and 2% of gross sales in advertising fees.

5. Location

iCRYO mandates that franchisees run their businesses in busy areas like malls or other retail establishments.

How much does an iCRYO franchise cost?

The icryo franchise cost is range from $188,325 to $332,375.

How much does it cost to franchise in the United States?

According to the company’s 2021 Franchise Disclosure Form, the startup cost to open an iCRYO franchise varies from $188,325 to $332,375. This includes the $39,500 first franchise cost. 

iCRYO Franchise Startup and On-going Franchise Cost
iCRYO Franchise Fee	$49,500
iCRYO Franchise Cost	$427,500-1,125,500
Royalty Fee	6.5%
Advertising Fee	1-2%
Term of Agreement	Term and conditions
Is franchise term renewable?	Yes,
Renewable Franchise Fees	50% of Initial Franchise fees

iCRYO Training to Franchises

The training program includes the following components

1. Introductory Training

At its headquarters in Houston, Texas, iCRYO offers a 5-day basic training course. All facets of running an iCRYO location are covered in the training, including using the equipment, following safety protocols, marketing, selling, and providing customer service.

2. On-Site Training

After finishing the initial training course, iCRYO offers on-site training at the location of the franchisee. Franchisees can apply what they learned during the initial training program to their particular location and market with the aid of the on-site training.

3. Ongoing Support

Through a number of channels, including phone and email help, online resources, and field visits, iCRYO offers continuous support to franchisees.

4. Marketing Assistance

iCRYO offers its franchisees marketing assistance, including marketing materials and advice on regional marketing tactics.

What is the iCRYO Franchise Term of Agreement and Renewal?

According to the company’s 2021 Franchise Disclosure Form, the first duration of the iCRYO franchise agreement is 10 years from the date of the agreement. Franchisees may be eligible to extend the contract for further terms of five years each, provided they meet specific criteria.

A review of the franchisee’s performance during the original term and their adherence to the franchisor’s standards and regulations are often part of the renewal process. In order to renew their franchise agreement, franchisees might also need to perform some renovations or upgrades to their businesses.

Does iCRYO provide Financial Assistance to Franchises?

iCRYO does not offer its franchisees any direct financing or financial support. But, the business has connections with a number of other lenders who could be able to offer finance to qualifying franchisees.

Pros & Cons of owning a iCRYO Franchise

Pros of Owning Franchise

1. Established brand and business model

iCRYO is a well-known brand with a tested business strategy, which can make it simpler for franchisees to draw in clients and develop a thriving enterprise.

2. Help and tools

iCRYO offers its franchisees thorough training, continuing assistance, and marketing tools that will help them flourish in the wellness sector.

3. Industry expansion

The demand for cryotherapy and other wellness services is increasing, which can present a potentially lucrative business opportunity.

4. Multiple revenue streams

Cryotherapy, compression therapy, and other wellness services are just a few of the various revenue streams that iCRYO offers, which can assist franchisees in diversifying their income sources and boosting profitability.

Cons of Owning Franchise

1. Large initial outlay

Owning an iCRYO franchise necessitates a sizeable outlay that may include franchise fees, furnishings, leasehold upgrades, and marketing charges.

2. Competition

The wellness sector is cutthroat, and there may be rival wellness centers and cryotherapy centers in the franchisee’s market, making it more difficult to draw in and keep clients.

3. Operational difficulties

Running a cryotherapy business can be difficult in terms of employees, safety protocols, and equipment upkeep.

4. Ongoing fees

Franchisees must continue to pay iCRYO ongoing royalties and marketing expenses, which might hurt profitability.

How much do iCRYO franchise owners make?

Like with any franchise or company, there is no assurance of success or financial success, and iCRYO does not give its franchisees specific earnings or profit estimates. An iCRYO franchise’s success and profitability will depend on a number of variables, including location, competition, marketing initiatives, operational costs, and overall performance.

What is iCRYO franchise profit?

Based on information from the calendar year, the average gross sales for the 46 iCRYO franchise locations that were active throughout the 2019 calendar year were $449,037.

What are iCRYO franchise reviews

The majority of online evaluations for iCRYO franchises are favorable, with many clients appreciating the caliber of the offerings and the staff’s expertise.

Franchise Deck Analysis and Overview

Cryotherapy, infrared saunas, compression treatment, and other rehabilitation therapies are available at the wellness centers of the iCRYO network. The business is situated in Houston, Texas, and was established in 2015. There are already more than 50 iCRYO franchise locations in the US, and there are plans for both domestic and international growth.

Is the iCRYO Franchise Profit Worth the Cost?

Yes, because iCRYO is a well-established brand, and Based on information from the calendar year, the average gross sales for the 46 iCRYO franchise locations that were active throughout the 2019 calendar year were $449,037.

Franchise Success and Failure Rate

The below table will highlight the franchise success and failure rate for the last 3 years. This will supplement your decision-making process.

Year	Format	Start	End	Change
2019	Franchise Owned	3	9	+6
Company Owned	1	2	+1
2020	Franchise Owned	9	12	+3
Company Owned	2	2	0
2021	Franchise Owned	12	20	+8
Company Owned	2	3	+1

Competition Analysis of Franchise
Brand	Cost to Franchise	Franchise Fees	Royalty + Ad fees	Expected Profit	Recoup of Capital	FD Rating
iCRYO	$427,500 to $ 1,125,500	$ 49,000	6.5%	$449,00	7-9 years	4.0/5.0
Chill Cryotherapy Franchise	$222,050 – $506,900	$15,000	8%	$454,877	7.3 years	4.5/5.0

The Franchise Deck rating for the franchise is 4.0/5.0.

Conclusion 

You should consider owning a franchise of iCRYO because You might be well-positioned to launch an iCryo franchise and offer qualified, practical, and cost-effective healthcare services because of the relatively large demand for IV therapy and cryotherapy.

The value of the iCRYO franchise relies on the particular franchisee’s objectives, financial status, and capacity to run and manage a prosperous firm.

It’s critical to think about if owning an iCRYO business is a suitable fit for your personality. As operating a franchise involves a sizable time and energy commitment, it’s critical to make sure you have a strong sense of commitment and drive for the enterprise.

Entrepreneurs who want to open a franchise in the Health and Wellness franchise opportunities categories can look at 

1.  Chill Cryotherapy
2. Om’echaye
3. Synergy Wellness Chiropractic & Physical Therapy
4. Viva Center
5. Moyer Total Wellness
6. Les Mariannes Wellness Sanctuary
7. Sola Salon Studios Franchise
8. Squeeze Massage Franchise

Frequently Asked Questions (FAQs)

1. Is the iCRYO profitable?

Yes, Because Franchisees can manage the difficulties of running a business and improve their chances of success thanks to the comprehensive training and continuing support that iCRYO offers.

2. Can you make money owning a iCRYO?

Owning an iCRYO franchise has the potential to be financially rewarding, but success will depend on a variety of factors, including location, competition, marketing tactics, operational costs, and overall performance.

3. Is iCRYO a Franchise?

Yes, Whole-body cryotherapy, targeted cryotherapy, and other wellness services are provided by the US-based company iCRYO. In 2017, iCRYO started franchising, and since then, it has expanded to include over 70 sites all throughout the United States.

4. How much is an iCRYO Franchise?

In order to become a franchisee of iCRYO, you must have a minimum net worth of $250,000 and $100,000 in liquid assets.

The $39,500 franchise fee is required to open a new iCRYO site.

As a franchisee, you will continue to pay 6% of gross sales in ongoing royalties and 2% of gross sales in advertising fees.

5. How do iCRYO franchises make money?

Cryotherapy services are offered to clients through the franchise company iCRYO. Cryotherapy is a medical procedure that includes briefly subjecting the body to extremely low temperatures in an effort to reduce swelling, boost circulation, and hasten to heal.