Capitalizing on the Fast-Growing Cryotherapy Industry
Among many benefits, cryotherapy can offer your members recovery, reduce pain and inflammation, and boost their immune systems. And many of these benefits can last up to 48 hours after a session.
“Cold has always been used as a treatment for a multitude of ailments in the human body,” said Keith Scheinberg, the CEO of Cryo Innovations. “However, cryotherapy is relatively new when it comes to commercial uses.”
Scheinberg recently discussed the ins and outs of cryotherapy in a webinar that discussed how clubs can capitalize on the fast-growing cryotherapy industry. According to a report produced by Million Insights, the cryotherapy market is expected to reach $5.6 billion by 2024.
This trend in fueled by consumers’ desires for improved performance and recovery post-workout. Health clubs can capitalize on this trend by adding cryotherapy to their current model.
“Cryotherapy can provide any existing business with an added revenue stream amenity, or serve as a standalone brick-and-mortar location,” said Scheinberg. “Either way, cryotherapy is a lucrative, long-term business.”
This is because after the initial investment in cryotherapy equipment, the amenity typically boasts low operating costs, between $3 and $5 per session. According to Scheinberg, many cryotherapy businesses charge around $35 per session — and upwards of $95 in large cities, like New York City. This results in a high ROI, he said.
Another boon to cryotherapy is the fact that today, “many people know what it is and are aware of the benefits, making the service easier to market,” added Scheinberg.
If you’re interested in learning more about cryotherapy as a potential profit center, check out the webinar here.
Rachel Zabonick is editor-in-chief of Club Solutions Magazine. She can be reached at email@example.com.