Cryotherapy is a treatment method that involves the use of cold nitrogen gas. The person is submerged inside a booth or sauna, and is treated using freezing-cold air. Although cryotherapy is considered to be a modern treatment method, its roots can be traced all the way back to ancient Egypt.
It is just that, until recently, people were largely unaware about the cryotherapy process and the many benefits that it wields.
Glace Cryotherapy offers this unique treatment, and the place is frequented by professional athletes and normal folks alike. Glace Cryotherapy uses air temperatures of as low as negative 250 degrees Fahrenheit, and the treatment lasts for around three minutes.
The objective of the treatment is lowering the body temperature in order to improve blood flow towards the core of the body. Upon flowing towards the core, the blood becomes highly nutritious and oxidized. Upon the completion of the session, this higher-quality blood then returns to our extremities.
Cryotherapy helps reduce inflammation in the body, which, in turn lowers our pain, increases our energy, and even improves our mood. In addition, the process bolsters the production of collagen, a protein that is essential for our skin.
Almost anyone can try out this therapy, apart from pregnant women or people who suffer from high blood pressure or have heart disease.
Brittney Scarlett-Torres and Skyler Scarlett are the founders of Glace Cryotherapy, which is a one-of-its-kind cryotherapy spa. Glace Cryotherapy aims to provide clients with a private, soothing experience, complemented by topnotch customer service.
The sessions are supervised by certified and skilled experts, who make sure that the clients remain safe, comfortable, and relaxed throughout the procedure.
Brittney and Skyler leverage their physiologic and marketing knowledge to add a modern and sophisticated touch to this ancient healing modality.
Skyler first learned about cryotherapy in 2011, and realizing its commercial potential, decided to join hands with his sister and establish Glace Cryotherapy. The spa opened up its first branch in Carmel, CA, during October 2014.
Is Glace Cryotherapy still an Active Business?
No, Glace Cryotherapy is no longer operational; the company went out of business in 2017.
How Did the Shark Tank Pitch Go?
Skyler and Brittney made their Shark Tank appearance during season seven of the show. The siblings were seeking an investment of $100,000, in exchange for a 20% stake in Glace Cryotherapy – a company valuation of $500,000. The reason behind coming to the show and seeking an investment was that they wanted Glace Cryotherapy to have a branch in San Francisco.
They set up the sauna and start their presentation, explaining their narrative and the benefits of this healing method. The Sharks seem quite intrigued, and Kevin even decides to give it a shot. He strips down, gets into a robe, and enters the booth.
As soon as he gets inside, Robert exclaims at the sauna’s coldness. At the end of the three-minute temperature, Robert’s skin temperature read 32 degrees Fahrenheit, but the Shark said that he felt amazing.
As for the sales and profits, the business had generated lifetime revenue of $140,000, of which $115,000 was the profit. The monthly overhead expenses, meanwhile, were $3,200. Mark mentioned that the Mavericks use this therapy, and Robert says that it is also quite popular on Dancing with the Stars.
Kevin asked if he decided to just buy a nitrogen container and start a company like Glace Cryotherapy, was there anything stopping him. To this, the duo conceded that there was nothing that could stop a competitor from starting a similar business.
Barbara wanted to know about the cost of a cryotherapy machine. Skyler replied that a single machine costs about $55,000, and the Sharks felt that the number was surprisingly high.
Kevin said that it did not make sense for him to purchase a 15% stake for $110,000 when he could just buy a nitrogen machine, hire a few people, and start his own business.
Brittany objected to this, stating that, while anyone could start a cryotherapy business, not everyone would be able to match the top-of-the-line customer service offered by Glace. Kevin, however, was not convinced, and decided to step out of the deal.
Lori wanted to know about the per-session charges. Brittany said that, while they charge $65 for a single session, there are membership discounts and special prices that clients can benefit from. Lori then asked about the length of time before people start noticing the results of cryotherapy. Brittany told her that this depends from person to person and issue to issue.
Mark then speaks up: according to him, the problem is that the two of them, on their own, will not be able to create a scalable service business and ensure the quality. He feels that this hurdle is too significant for him, and he, too, bowed out.
Robert acknowledges that, while the service is good, the sisters did not have a solid game plan for converting Glace Cryotherapy into a business. For this reason, Robert excused himself from the deal.
Lori felt that the idea was very interesting and was supported by some solid science. However, she did not feel that the business was investable, and therefore, could not make an offer.
Barbara, the last to speak up, was quite shocked at the decision of the other Sharks. She feels that Glace Cryotherapy could be converted into a successful franchise, especially when you consider the fact that you make money as soon as the client signs up for the service.
Barbara was confident that she could turn Glace into a multimillion-dollar business within a year, and was willing to offer the $100,000 but in exchange for 30% of the company. Skyler and Brittney deliberated for a bit, after which they agreed to close the deal with Barbara.
The Shark Tank appearance and triumph seem to have paid massive dividends for Glace, and the business has been able to expand in Carmel (California), San Jose (California), Medford (Oregon), and Niceville (Florida).
However, the hype and success was short-lived, and the company became too big for itself. Glace Cryotherapy went out of business at the end of 2017.
Our Final Thoughts
Glace Cryotherapy seemed to show a lot of promise, providing a contemporary touch to a medieval healing modality. However, despite a successful Shark Tank debut and the expansion and popularity that followed, the company could not survive and went out of business in 2017.
