Should You Invest in a Whole-Body Cryotherapy Chamber?
Turning a profit from a cryotherapy chamber 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 customers each day to turn any profits from a cryotherapy machine. You may be able do this easily when adding cryotherapy as a new revenue stream to your gym, spa, or physio practice. Still, if you’re starting a new business, 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, customers will get crazy about it.
WRONG! If you’re offering something new to the market, you’re going to need to educate leads to turn them into customers. In the business world, that translates directly into marketing costs.
Most inquirers on our website focus on the price of cryotherapy chambers and forget about operations and marketing costs.
That’s why we offer a comprehensive start-up package that takes a hard look at your budget and resources to ensure you have everything you need to succeed.
We take a hard look at your budget and resources and what they still need. By figuring this out now, you can save yourself a lot of expensive lessons.
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, many local newspapers and magazines will talk about you because you’re the coolest spot in town.
As all these potential customers stop by your door, you need to educate them and draw them in. Many of these new people will be local celebrities, professional athletes, and people who have already heard of cryo.
Unfortunately, most come for the experience and an instagram picture rather than long-term therapy. Ouch…
So how do you turn a one-time client into a long-term one? You need to advertise the benefits of cryotherapy as a wellness routine rather than a one-time treatment—which it clearly isn’t. And you must build an offering that induces 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 if you have the required resources
Most of the used machines on our used-machine marketplace come from businesses 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 are extremely high. So let’s take a cold hard look at what it takes to succeed in cryotherapy.
The Best Location
Remember that cryotherapy sessions are just 3-minutes long. And you’ll have a hard time convincing customers to commute long distances for such short sessions. Your shop can be small but it must be located close to your customers’ gym, physiotherapists, doctors, or workplaces.
Enough Budget
Your launch campaign might cost more than $5,000. Expect to spend at least $1,500 every month on ongoing advertising and marketing. Also, it takes time to build a solid customer base so you’ll be relying on savings during your first year in business, maybe longer.
A Marketing Plan to Generate and Keep Customers
This begins by having a clear strategy to generate leads and often takes the form of online ads or collaborations. Also, your membership pricing must be affordable because it’s very hard to survive on finding new customers every month. Offering memberships helps you retain customers for as long as possible.
Time and Involvement to Grow the Business
Most entrepreneurs think of building a franchise before signing their first customers. However, our 2020 research revealed that cryotherapy entrepreneurs who run the day-to-day operations have much greater rates of success than those who delegate everything and focus on developing franchises.
Conclusion: Invest in cryotherapy machines f you invest in Cryotherapy, minimize fixed Costs!
Fixed-costs include rent, salaries, and utilities. You have to pay these no matter how many memberships or sessions you sell.
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 soon have the budget to purchase the cryo chamber of your dreams.
Customers want a warm welcome and cold session that they can afford. So keep it about your business instead of the machine.
