Franchise Deep Dive: iCRYO Franchise Costs, Fees, Profit and Data

LAST UPDATED: 2/2023

FRANCHISE WEBSITE: https://icryo.com/start-cryotherapy-franchise-business/

NUMBER OF LOCATIONS: 300+

REPORTED COST TO GET IN: $239,300–$660,400

REPORTED ROI (Item 19): n/a

iCRYO is a recovery and wellness franchise founded by Kyle Jones in October 2015 in his hometown of League City, Texas. After realizing the potential of the business and seeing the positive effects it had on the guests, Jones and his father, Bill, launched a turnkey franchise model. Today, iCRYO has serviced over 150,000 people and has awarded over 300 franchises to business owners across the United States. 

The mission of iCRYO is “to elevate the quality of life of its team members, guests and franchisees by providing affordable, professional and convenient personal health services while raising the standard as a global wellness brand.”

In addition to cryotherapy, iCRYO offers services such as infrared sauna, red light therapy, iV infusions, vitamin shots, compression therapy and more.  

How Many Locations Are There?

iCRYO has awarded over 300 franchises to business owners around the country and has plans to expand globally in the next decade.

The brand closed out 2022 with nine new centers, 12 new territories sold and more than 40 new centers expected to open within those territories. In total, iCRYO is scheduled to open 50 centers in 2023 across North America.

In January 2022, the franchise announced their partnership with 24 Hour Fitness, introducing the first iCRYO to be located inside the 24 Hour Fitness Parker Arapahoe Club in Aurora, Colorado. The new iCRYO dedicated space located within select 24 Hour Fitness clubs are targeted to open in several phases in California and Colorado.

What Is the Business Model?

When franchisees invest in iCRYO, they can either build a brand new franchise from the ground up or add the iCRYO brand and services to an existing business. Additionally, there are both single- and multi-unit franchise opportunities available. 

For all new franchisees, the brand offers a comprehensive training program that includes classroom-style cryotherapy and franchise courses, management and operations training, and ongoing equipment and services training. Training services for iCRYO franchisees include: 

• Whole Body Cryotherapy
• Cryo Facials
• Infrared Saunas
• Compression Therapy
• Body Sculpting and Contouring
• IV Infusion Therapy and Vitamin Shots
• Additional Recovery Services

The brand will help with site selection and construction through its own real estate and construction management teams. Once a franchise is ready to open, iCRYO also offers a full range of marketing support services, including pre-opening, post-opening and ongoing advertising support.

How Much Can iCRYO Franchise Owners Make?

Profit rates for iCRYO franchisees are not publicly available. However, iCRYO announced a record-setting year for sales in 2022, reaching two new massive sales records at a single location, surpassing $70,000 on a single day and $200,000 on a single month at one location. They are on pace to create potential multimillion-dollar annual revenue locations. 

How Much Does It Cost To Open an iCRYO Franchise?

iCRYO has an overall initial investment range of $239,300–$660,400, according to the most recently available Franchise Disclosure Document. This includes $168,000–$504,000 that must be paid to the franchisor or its subsidiaries or affiliates. The total initial investment necessary for a multi-unit development agreement equals $19,500 multiplied by the total number of franchises to be developed. The total investment necessary to begin operation of each iCRYO location under a multi-unit development agreement is the same as that for a single unit, except the initial franchise fee will reflect a credit of $19,500 per unit. 

What Is the Franchise Fee for iCRYO?

The initial franchise fee for iCRYO is $39,000. 

Who Are the Leaders of iCRYO?

• Bill Jones, CEO and Co-Founder
• Kyle Jones, Chief Innovation & Branding Officer, Co-Founder
• Bob Morgan, President
• Scott Briner, Chief Operating Officer, iCRYO Brands, President, iMED
• Chase Hanson, Chief Technology and Information Officer
• Jim Ginger, Chief Construction Officer
• Michelle Lewis, Executive Vice President
• Sarah Adams, Vice President of Marketing

What Helpful Articles Can I Read to Learn More?

• The Process of Becoming an iCRYO Franchisee
• iCRYO Is One of the Fastest Growing Companies in America
• iCRYO Franchise Development Page
• Start an iCRYO Franchise in 2023

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