Signing out of account, Standby...
- 2022 Franchise 500 Rank
N/R Not ranked last year
- Initial investment
$290K - $1M
- Units as of 2021
14 366.7% over 3 years
Here’s what you need to know if you’re interested in opening a iCryo franchise.
iCryo was founded in 2015 by Bill and Kyle Jones. It is a personal care business that aims to provide miscellaneous health services in the United States. They have been franchising since 2017 and are seeking to expand the business to other areas.
With over ten units, iCryo has continued to offer quality healthcare services to the community. You may sign a ten-year agreement with the company with an option to extend should you meet the iCryo franchise requirements.
Why You May Want To Start an iCryo Franchise
With a relatively high demand for IV therapy and cryotherapy, you may be in a good position to start an iCryo franchise and provide professional, convenient, and affordable healthcare services. With the help of iCryo, many franchisees can receive training and support to equip them to run a franchise that may enrich their community.
The iCryo franchise team has experienced negotiators who can help franchisees in site selection and construction. They also may offer franchisees access to all resources needed to create an iCryo franchise. With over several years of construction experience, iCryo may help you manage your project from start to finish.
iCryo's cryotherapy franchise program also may provide strong sales and marketing support to franchisees with thorough advertising, pre-opening and post-opening strategies. iCryo trains franchisees to offer body cryotherapy, sauna services, body sculpting, cryotherapy facials, infrared sauna, compression therapy, IV infusion, and more.
What Might Make an iCryo Franchise a Good Choice?
The iCryo franchise support team provides franchisees with an initial multi-day classroom training to go along with hands-on training to ensure they receive insight into iCryo and its business model. Here, franchisees may learn how to improve the health and wellness of their community. For example, they can learn how to offer whole-body massage, facial therapy, sauna, cryotherapy, and more.
As you decide if opening an iCryo franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if an iCryo franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
How To Open an iCryo Franchise
To be part of the iCryo franchise team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.
iCryo has partnered with third-party financial lenders that may help cover the costs of the franchise fee, startup, equipment, inventory, accounts receivable, and payroll.
Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the iCryo franchising team questions.
- Franchising Since
- 2017 (5 years)
- # of employees at HQ
- Where seeking
This company is seeking new franchisees throughout the US.
This company is seeking new franchisees worldwide.
- # of Units
- 14 (as of 2021)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a iCryo franchise.
Financial Requirements & Ongoing Fees
Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
- Initial Franchise Fee
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
- Initial Investment
- $289,550 - $1,010,400
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
- Net Worth Requirement
Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
- Cash Requirement
- $125,000 - $175,000
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
- Veteran Incentives
- 35% off franchise fee, royalty fee waived for 6 months
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
- Royalty Fee
Definition: A ongoing fee paid to the franchisor on a regular basis.
What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
- Ad Royalty Fee
Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts.
What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.
- Term of Agreement
- 10 years
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
- Is franchise term renewable?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- iCryo has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- 32 hours
- Classroom Training
- 32 hours
- Ongoing Support
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Additional details about running this franchise.
- Is absentee ownership allowed?
Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations.
- Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
- Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
- Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
Interested in franchise ownership like iCryo? Request a free consultation with a Franchise Advisor now.
Curious to know where iCryo ranked on other franchise lists? Find out below.
Are you eager to see what else is out there? Browse more franchises that are similar to iCryo.
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