iCryo Inks 50-Unit Franchise Deal in Canada
The boutique wellness brand says some of its locations are on track for multimillion-dollar annual revenues for the 2023 fiscal year
iCryo, a recovery and wellness brand focusing on cryotherapy and other holistic services, has inked a master franchise deal for Canada, which will involve the development of 50 facilities, marking the company’s first foray into international expansion. It’s a move that iCRYO says will grow the brand by over 15%.
Last year, the wellness company announced a record-setting year for sales, with an iCryo location surpassing $70,000 in one-day sales and $200,000 in a single month’s revenue. iCRYO says some locations are on track for multimillion-dollar annual revenues for the 2023 fiscal year.
Philippe-Antoine Defoy, an entrepreneur, is behind the recent expansion in Canada. As a multi-unit franchisee of Popeye’s Supplements, a retailer of sports nutrition supplements, Defoy owns 27 stores in Quebec City, New Brunswick and Nova Scotia and is now overseeing the development of iCryo in Canada.
He first tried iCryo during a trip to Florida, experiencing cryotherapy, red light therapy and impression treatments. After realizing the benefits of those services, Defoy decided to bring iCryo to Canada.
Under Defoy, iCryo will open locations in Montreal, Toronto, Vancouver, Calgary, Winnipeg and Ottawa. Two additional iCryo locations are expected to open in 2024.
For Defoy, bringing iCryo’s wellness services to Canada is aligned with career and personal life, as he’s worked to connect consumers with services and products that promote healthy lifestyles.
“The opportunity to partner with iCryo is a one-of-a-kind opportunity to bring cutting-edge wellness services to Canadians craving ways to better their lifestyles,” Defoy said. “Opening locations that consolidate cryotherapy, IV drip infusions, facial toning, and more under one roof makes it easier than ever for people to invest in their own health and improve their quality of life. I look forward to serving people all over the country and jumpstarting other entrepreneurs’ careers in a growing industry with an undeniable impact.”
Kyle Jones, co-founder of iCryo, says the company’s expansion into Canada demonstrates the global demand for wellness services.
“Phil is the ideal entrepreneurial partner as he aligns with iCryo’s mission, vision, values and culture—his commitment to elevating the lifestyles of Canadians speaks to our overall mission as a wellness company,” Jones said. “As we expand internationally, iCryo is making it easier than ever to access preventative and recovery services that have the capacity to help people live longer, healthier lives, no matter where they live.”
