Dubai cryotherapy firm inks franchise deal with LA Fitness

Company reportedly plans to open 40 sites in the US by 2018 under agreement with global gym brand

Cryotherapy treatment company Cryo has inked a deal to franchise the business to global gym chain LA Fitness, it was reported on Tuesday.

Under the deal, a new US-based franchisee company, LA Fitness Cryo, will offer Cryo’s services at 40 LA Fitness sites in the US over the next two years. The first will open its Hollywood branch on October 15, according to a report in the National.

The Dubai-based firm, which uses pioneering cryotherapy techniques to improve skin conditions and other health problems, said the US was a key market for its services.

Benny Parihar, managing partner of Cryo Holdings, said the deal gives the company access to the real estate it needs to expand its operations.

“[LA Fitness] has 600 retail locations. They give us access to their demographics and data,” he was quoted as saying.

He added: “What we love about it is it’s a Dubai-based brand, which is an outbound franchise. There’s not many companies that have done that – JF Street Food, maybe?” he said.

Cryo set up its first cryotherapy treatment centre in the Emirates Towers two years ago, and has three other company-owned locations – Dubai Ladies’ Club in Jumeirah, FitRepublik at Dubai Sports City and in Al Ain.

The franchise with LA Fitness comes after Cryo won a $1 million investment from a Jordanian investor in February.

Parihar said: “It has allowed us to build a team [and] to really develop this franchise business. We needed to create a lot of content. If you’re a franchisee, we wanted to be able to support you so your business can get to break-even as fast as possible.”

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