Restore Hyper Wellness Announces Record $32M Revenue and Expansion
Delivers 1 Million Wellness Services, Doubles Retail Locations, Sells 241 Franchise Location
Austin, TX – February 02, 2021 – Restore Hyper Wellness + Cryotherapy (Restore), the leading provider of proactive wellness services, today announced it achieved $32M revenue (141% year-over-year growth) and delivered its 1-millionth wellness service in 2020, expanding its impact on the health and wellness of the communities it serves.
Restore’s same store sales grew 33% year-over-year, surpassing its pre-pandemic target of 25%. Restore also more than doubled its retail footprint, opening 40 new locations (111% year-over-year growth), managing record growth during the most difficult retail environment in recent history.
Founded in 2015, Restore is the market leader in proactive wellness–one of the fastest-growing segments of healthcare. Their services address chronic pain, injury recovery, athletic performance, enhanced immunity and healthspan longevity. The most popular services include:
- Whole Body Cryotherapy. A cold therapy that immerses the body in temperatures as low as -260oF for up to 3 minutes. This modality releases endorphins and reduces inflammation in the body. It provides a mood and energy boost, relieves muscle pain, improves sleep and burns 500 – 800 calories per session.
- IV Drip Therapy. IV drip therapies deliver vital hydration and micronutrients that provide a range of benefits such as helping to detoxify the body and improve its immune function, brain health, energy and longevity.
“We’re proud of the progress our team made last year towards our mission of making proactive wellness affordable and accessible to everyone,” said Jim Donnelly, Restore’s CEO and Co-Founder. “Opening more locations, so people and communities have access to our services, is critical to achieving that mission. Our corporate team, franchisees and store staff came together in a tough environment and that made all the difference.”
Restore’s innovative wellness experience and rapid growth despite the economic downturn attracted a record number of franchisees to Restore. In 2020, Restore sold 241 new franchise locations (289% year-over-year growth). Restore ended 2020 with 74 locations and will approach 150 locations open by the end of 2021.
Restore’s performance was aided by additions to its C-Suite and the securement of its Series B round. Chief Marketing Officer, David Fossas, joined Restore from WP Engine where he led global brand marketing. Chief Operations Officer, Stacy Donnelly, joined Restore from Abbott Laboratories where she led global education and commercial marketing for its electrophysiology division. Finally, Chief Technology Officer, Mike Panoff, joined Restore after co-founding video game developer, Edge of Reality. Level 5 Capital Partners led Restore’s $8 million Series B followed by an additional 60-store, $1.2 million franchise development deal. With a seasoned executive team and experienced investment team in place, Restore was able to accelerate its progress in scaling the business.
To support this growth, Restore’s corporate HQ team in Austin expanded from 45 to 75 employees in 2020. The company now has over 1,500 employees across its HQ and retail locations, creating employment opportunities in 28 states.
In December, Restore delivered its 1-millionth wellness service in its 5-year history. Over 600,000 of those services were delivered in 2020 alone, a measure of Restore’s growing reach and impact on people’s wellness in a time when it matters most.
Jim Donnelly added, “We believe that taking a proactive approach to your health and wellness—getting the right nutrition and micronutrients for your body, staying active and hydrated, and ensuring your body gets the right rest and recovery—is the best path to preventing disease and living a fuller life doing what you love to do. We call this approach the Hyper Wellness lifestyle and we want everyone to have access to it.”
About Restore Hyper Wellness + Cryotherapy
Launched in Austin, Texas in 2015, Restore Hyper Wellness + Cryotherapy (Restore) is The Hyper Wellness® Company and the leading retail provider of proactive wellness services in the United States. As a comprehensive health and wellness center, Restore provides whole body and localized cryotherapy, IV drip therapy, stretch therapy, mild hyperbaric oxygen therapy, infrared sauna, red and near infrared light therapy, compression therapy, blood panels, HydraFacial and Cryoskin facials, slimming and toning. In its mission to make these wellness services more affordable and accessible for everyone, Restore is dedicated to helping as many people as possible feel better, so they can do more of what they love.