If you have made up your mind that a cryotherapy business is for you, then you have the option to go one of two ways. One way is to create your own brand and business which would put you in direct competition with other, more established operators. The other way is to follow an established and successful way of running your business in a cryotherapy franchise.
If you understand the principles behind a franchise then you will know that the franchisor has developed their own cryotherapy operation with systems that are so effective that they can easily transfer them as a model to guide new businesses. In return for the franchisor’s ‘intellectual property’ you purchase their equipment and continue to receive their knowledge and guidance by making periodic payments. That’s the fundamental way that a cryotherapy franchise in Australia works.
The disadvantages of a franchise are that you have to pay for the franchisor’s guidance and business acumen. You can’t expect to receive intellectual property for free. Generally, franchisor’s receive 7-12% of your annual revenue depending on the agreement you sign or the way the franchise is negotiated. In addition you pay a franchise fee, royalty fees and a management fee. Obviously, a franchisor would have some additional conditions to protect their brand. This may include restrictions around the products you can bring into your business. You couldn’t for instance, sell products that are in direct competition with the franchisor. If you are in negotiation with a franchisor, you should bring your suite of ideas with you and make sure that your franchisor would agree to them. It’s better to be upfront than to deal with a conflict once your agreement is signed.
In return for those payments, you negate a number of start up costs and avoid many of the traps that business owners fall into due to inexperience and a lack of guidance. A CRYO franchise, for instance, would foresee many of the problems that other business owners miss. That support is consistent and ongoing. You also get discounted CRYO equipment, complementary branding and marketing and PR support.
You should check out a CRYO franchise. Franchises in general have a higher rate of success that start-up businesses. Budget, strategy, marketing and administration are daunting if you have never run your own business. Yes there are fees associated with a franchise and they are a proportion of your revenue that you need to factor in with your operating costs. But start ups pay a high cost for inexperience and learning.
There is no substitute for hard work. If you want to avoid working hard then owning and operating a business probably isn’t for you. But a CRYO franchise offers great rewards. Cryotherapy prices provide a solid margin for running a business and the cryotherapy benefits, including the benefits of cryotherapy in weight loss, sports recovery, anti-ageing and pain management are a great foundation for a sound marketing and PR strategy. You don’t need to be an experienced business owner. That’s precisely why you would enter into a franchise – to gain experience with an established and successful brand. If you’ve experienced CRYO and you appreciate the benefits, call CRYO today and have a chat about a franchise.