Should You Invest In a Whole Body Cryotherapy Machine?
Turning a profit from a cryotherapy machine will require more work than most businesses since you’ll have to educate customers about this new super cold treatment in town.
You need about 20 daily customers to turn any profits from a cryotherapy chamber or sauna. Does it looks like a lot? Depends on where you stand…
If you’re adding cryotherapy as a new revenue stream to your gym, spa or physio practice, it’s easier to make surveys and estimations
But if you’re starting a new business then you should make sure you have the necessary resources to succeed.
You may be tempted to think that, because whole-body cryotherapy is new in your area and you’ll be the first to offer it then customers will get crazy about it. WRONG!
If you’re offering something new to your users it only means one certainty, you’re going to need to educate leads to turn them into customers. In a business worlds that’s translate directly into marketing cost.
If the above statement came as a surprise to you then you’re most likely a new entrepreneur. In this case I highly suggest going for our stat-up package. It will save you time and effort.
70% of clients who purchase our start-up package end-up not investing in cryo. You’d ask why? Because we take a cold hard look at the budget and resources they have. In other terms, we save them an average of US$ 150,000.
New Cryotherapy Business Opening : First Comes The Hype Then Reality Follows
Being the first business to open in your area will definitely make some fuss! During the first weeks of opening, all local newspapers and magazines will talk about you because you’re the “coolest” spot in town. Great right?
So first customers will step by your door. Most of them being local celebrities, professional athletes, and people who already heard of cryo.
You’ll be telling them about the benefits of cryotherapy and how it impacts the body but you’ll soon notice that most come for the experience and an instagram picture rather than the treatment. Ouch…
So how do you make them return? Well, you need to advertise the benefits of cryotherapy as a wellness routine rather than a treatment — which clearly isn’t. And you must build an offering that induce customers to buy memberships rather than single sessions. Because, let’s be honest, you won’t survive if you don’t sell membership plans!
Only Invest In A Cryotherapy Chamber or Cryo Sauna If You Have The Required Resources
Most used machines sold on our marketplace come from business that didn’t take the time to plan their business right. Without a sound business plan, your chances of running dry during the first year is extremely high. So let’s take cold hard look at what it takes to succeed in cryotherapy.
- The Best Location You Could Find
Remember that cryotherapy sessions are just 3-minute long. And you’ll have a hard time convincing customers to commute back and forth for such short sessions. Your shop can be small however it must be located close to your customers’ gym, physiotherapists, doctors, or workplace
- Enough Budget (More than the machine’s cost)
Your launch campaign might cost you over $5,000. Expect to spend at least 1,500$ every month on advertising and marketing. Also, it can take months to build a customer base so you’ll be relying on savings during the first year or so.
- A Marketing Plan To Generate And Keep Customers
This begin by a clear strategy to generate leads: online ads or collaborations. Also your pricing must remain somehow affordable because it’s very hard to survive on new customers. So selling memberships is the way to go. You’ll need a business offering that helps you retain customers for as long as it is possible.
- Time And Involvement To Grow The Business
Most entrepreneurs think of building a franchise before signing their first customers. And our 2020 research revealed that cryotherapy entrepreneurs running day-to-day operations have much greater rates of success than the ones who delegate everything and focus on developing franchises
If You Invest In Cryotherapy Then Do Minimize Fixed Costs!
Fix costs include rent, salaries, renovation and extends to the machine you’re investing in.
If you get the chance, test your market with a second-hand machine in good condition. You’ll save thousands. If business goes as planned, you’ll have the budget to purchase the cryo chamber of your dreams.
Customers want a warm welcome and cold sessions that they can afford. So keep it about your business instead of the machine.
It’s true that some machines, particularly the hybrid ones, have a hight running cost than nitrogen and electrical makers which will make it harder to break even.