​​As the world continues to grapple with the uncertain economic landscape, it’s more important than ever to find ways to secure your financial future. For cryotherapy business owners, this means taking a proactive approach to making your organization as “recession proof” as possible.

By embracing industry growth, capitalizing on the latest trends, and staying ahead of the curve with key insights, you can give yourself a competitive edge and safeguard the future of your wellness business. In this blog, we’ll explore whether health and wellness services will be impacted by the recession and offer tips for sustaining and growing your cryotherapy practice.

CryoCON 2023 is coming to Dallas, TX, on March 5 & 6 at the Plano Legacy West Hotel. As the world’s largest cryo wellness convention, the CryoCON experience features a variety of exciting opportunities to learn, connect, and grow with the global wellness community. Grab your tickets now!

Are Health and Wellness Businesses Recession Proof?

According to The State of Hyper Wellness report, 62% of Americans said preventative health and wellness services would be the last thing they would cut back on in a recession. Respondents stated they would instead limit social activities, like going to bars and concerts, if it meant they could continue affording health and wellness activities.

Consumer trends

While the average American feels they should start focusing on their health and wellness at age 30, reports show many are looking to start earlier. Gen Z consumers are ready to start preventative health at age 22, and Millennials are looking at an average age of 26.

As our culture shifts toward prioritizing self-care and mental and physical well-being, it’s clear that consumers will continue to invest in the benefits of cryotherapy and wellness services to help them save on the long-term financial costs of sickness and aging.

Tips to Recession Proof Your Cryotherapy Business

Although the wellness sector is more insulated from economic downturns, you’ll still need to ensure your cryo business can adapt and operate sustainably in the long term.

Here are some practical tips to help your business stay afloat and ensure you’re prepared for the uncertainty ahead.

Capitalize on current customers

One of the easiest ways to increase sales is by building relationships with your existing clientele. Loyal clients will generate consistent revenue for your business, and by showing how much you value them, they’ll keep coming back and tell their friends to do the same!

It’s also significantly cheaper to market to people who are aware of your company or actively looking for your services. Offer perks, discounts, or promos to incentivize repeat customers and attract new ones.

Diversify

A unique aspect of running a wellness facility or cryotherapy practice is the ability to add ancillary products or service offerings with minimal effort and cost.

Incorporating new modalities into your facility, like salt therapy or treatments that make sense alongside your existing services, can be a great way to turn underused spaces into sources of revenue.

New services or products that provide value and enhance cryotherapy benefits also offer marketing advantages to attract and retain loyal customers.

Educate

Educating your current and potential customers about the benefits and uses of cryotherapy is one of the most effective and affordable marketing techniques for cryo wellness owners, especially during hard times.

As many people face chronic pain, insomnia, and the stress and anxiety of economic uncertainty, you can position your brand and services as a solution to better health and mental well-being.

Network

Connecting with other cryo wellness owners full of energy, positivity, and envision a brighter future will foster a supportive community during good times and bad. By networking with like-minded business owners, vendors, and industry professionals, you’ll get the tools and resources you need for business success.

Attend CryoCON 2023

To learn everything else you need to know about how to market, manage, and future-proof your cryotherapy business, head to CryoCON 2023!

The third annual Cryo Convention brings together cryo owners, manufacturers, vendors, and innovators to share cutting-edge ideas, make business-enhancing connections, and learn the latest trends in the future of the cryotherapy and wellness industry.

Dave Asprey, the “Father of Biohacking,” will be our celebrity speaker, launching his highly-anticipated book “Smarter Not Harder: the Biobacker’s Guide to Getting the Body and Mind You Want,” and sharing his innovative approach to biology and business.

Join the global wellness community and take your business to the next level at CryoCON 2023 – grab your tickets now!