Glace Cryotherapy Shark Tank Net Worth 2023
The company valuation was $666,667 during the pitch; however, following the pitch it had drastically dropped to $333,333. Unfortunately as the company went out of business in 2017, its net worth is now unavailable.
What is Glace Cryotherapy?
Glace Cryotherapy, also known as Cryotherapy, is a method that involves freezing your body’s cells to -140 degrees Celsius. This results in the particles freezing and dying, allowing them to be removed from your body. Athletes are increasingly using Cryotherapy to help relieve pain and inflammation.
The purpose of the procedure is to lower the body temperature so that blood can flow to the core of the body, which becomes highly oxygenated and nutrient-rich.
Skyler Scarlett and Brittany Scarlett-Torres are the siblings who founded Glace Cryotherapy. Cryotherapy has gained popularity in recent years and is now widely used in Japan, Europe, and the United States. Cryotherapy was invented in Japan over 30 years ago to treat arthritis, but it has only recently gained popularity in the United States.
Skyler first learned about Cryotherapy in 2011, and he enlisted the help of his sister to start Glace Cryotherapy in Carmel, CA in October 2014 when he realized it was a potential business opportunity. Since then, they have opened six additional franchised locations, including one in Florida, one in Oregon, one in Nevada, and three more in California.
According to the manager of the San Jose site, her Cryotherapy treatments helped her lose 15 pounds, with each session burning up to 800 calories. Many elite athletes, including LeBron James, Floyd Mayweather, and several NFL players, swear by the anti-inflammatory properties of Cryotherapy.
Glace Cryotherapy uses Impact Cryotherapy Equipment and offers franchisees a unique discount when purchasing. They claim to be the leading Cryotherapy spa in the market and offer discounted prices on gas, insurance, and their booking system.
Various studies have highlighted the benefits of Cryotherapy, with proponents claiming that it can aid in pain management, weight reduction, anti-aging, stress relief, detoxification, energy increases, improved sports performance, heightened mood, and improved skin, hair, and nails.
What Happened to Glace Cryotherapy at Shark Tank pitch?
Skyler Scarlett and her sister Brittney Scarlett-Torres present Glace Cryotherapy, a franchised retail Cryotherapy clinic, in Season 7 Episode 20 of Shark Tank, demonstrating how to use cryotherapy to improve health.
They aim to grow their business with the help of a Shark, as Cryotherapy spas are a rapidly growing industry that could have 3000 locations throughout the US in a few years.
Skyler recognized an opportunity and took a risk to start the company, even living in a barn on her mother’s farm and making sacrifices. They are seeking $100,000 for a 20% stake in their company, which is valued at $666,667.
During the pitch, the sisters turn on the cryosauna and explain its benefits to the Sharks. Robert decides to try it and enters the cryosauna, claiming to feel great after exiting.
Glace has made $140,000 in sales with a profit of $115,000, but the gas used to power the cryosauna is their most expensive expenditure, with each device costing $55,000.
While Mark and Robert opt out of investing, Lori does not see it as a worthwhile investment opportunity. Barbara sees potential in the company and makes an offer of $100,000 for a 30% equity share, which the sisters accept, closing the deal and walking out of the presentation with Barbara as their partner.
What Happened to Glace Cryotherapy after Shark Tank?
The agreement with Barbara fell through even though they made a pitch on the show and initially struck a deal.
Skyler announced on the company’s Facebook page that unfortunately, the partnership with Barbara did not materialize after the episode aired, and they did not receive any funding or join forces with her.
However, there is some positive news as they recently closed a deal with LA Fitness, a fitness club chain worth billions of dollars. They are currently working on raising funds to set up several corporate-owned facilities within the LA Fitness clubs. This deal is expected to be beneficial since LA Fitness has 600 locations all over the United States, and it could provide them with the financing they need.
It’s worth noting that they had four locations in the past but went out of business in 2017. Skyler has since become a full-time Cryotherapy consultant.
Competitors of Glace Cryotherapy
There are many competitors of Glace Cryotherapy in the market space. These are; Aculaser Institute, Pwdsa Shunning Drugs, DAWO LA HUBO, Nuga best KENYA, N Health & Wellness Centre, Tabibu Cures International, Natural Healing & Wellness Alternatives among others.
Net Worth of Glace Cryotherapy
The company valuation was $666,667 during the pitch, after the pitch the company valued at $333,333.
Since the company went out of business in 2017 the company net worth is unavailable.
Glace Cryotherapy FAQs
What is Glace Cryotherapy?
Glace Cryotherapy is the process of freezing your body’s cells to the temperature of -140 degrees Celsius.
This freezes the particles and causes them to be dead enough so that it can be removed from your body.
Who is the founder?
Skyler Scarlett and her sister Brittney are the founders of Glace Cryotherapy.
How much were they asking on Shark Tank?
They were asking for $100,000 for a 15% stake in the business, which is valued at $666,667.
Did they have the deal?
Yes, they have a deal with Barbara.
How much was the deal?
Barbara offered $100,000 for 30% ownership of the company, but the deal was never materialized.
Is Glace Cryotherapy still in business?
No, Glace Cryotherapy went out of business in 2017.
How does it work?
It works by putting you in the cryosauna for about three minutes.
Does it hurt when you get out?
The feeling that the customer feels after getting out from the cryosauna isn’t pain. It feels like they are just coming out of a deep sleep or they might feel fatigue and tiredness after being inside.
What is the official website?
Glace Cryotherapy website is http://www.glacecryotherapy.com/ but currently unavailable.
Is Glace Cryotherapy better than laser?
Faster, cheaper and safer than lasers, with no side effects.
How long does it take to work?
The treatment takes just three minutes and there are very few things that can be compared with the results of the cryosauna.
It’s been used by some of the professional athletes in their rehabilitation process.
Who should apply for Glace Cryotherapy franchise?
The franchise of this organization is open for anyone who can run a business. The main requirement is to have a passion for serving others and providing the best services to the customers.
Is Glace Cryotherapy safe?
Glace Cryotherapy is done in a laboratory, so it’s not difficult to find out how safe it is.
The scientists who are doing this kind of research are some of the smartest ones around and they take steps to see that this occurs without hurting you or anyone around you.
What is the net worth of Skyler Scarlett?
Skyler Scarlett Net worth is not known.
What is the net worth of Brittney Scarlett?
Brittney Scarlett Net worth is not known.