Carmel couple opens Indiana’s first Degree Wellness, pairing cold plunges with recovery therapies

Janice and Rajan Bhavnani have turned a long search for the right franchise into a live test of Indiana demand for premium recovery. Their first Degree Wellness studio opened in mid-January at 1685 E. 116th St., Suite 130, in Carmel’s Muse at the Corner, and they marked the launch with a Feb. 21 ribbon-cutting alongside Carmel Mayor Sue Finkam.

The business case is bigger than one cold plunge tank. Degree Wellness packages cryotherapy, infrared sauna, cold plunge, contrast therapy, red light therapy, IV drips, compression massage, oxygen therapy and light facials under one roof, betting that customers will buy recovery as a routine rather than as an occasional splurge. The Carmel studio’s published guidance says cold plunge sessions run 3 to 5 minutes in icy water, cryotherapy is done at -175 degrees for 3 minutes and infrared sauna sessions last 45 minutes.

That menu is built for repeat visits, and the membership structure makes the pitch clear. Customers can buy two sessions a month, eight sessions or unlimited access, and those sessions can be used on any core service. Members also get 25% off IV therapy. So far, the most popular services have been red light therapy and contrast therapy, which the studio describes as moving from sauna to cold plunge and back again to support recovery, metabolism, energy and focus.

The Carmel opening also shows how a once-niche cold-plunge habit is being sold to a broader audience. Degree Wellness’s marketing says it is aimed at athletes, executives, busy parents and weekend warriors, a mix that suggests the brand is trying to reach beyond hardcore ice bath users. Janice Bhavnani will manage the studio while Rajan Bhavnani keeps his sales job, a split that underlines how much the concept still depends on steady local demand and disciplined operations.

The founders have already hinted at expansion, with plans for a second location in Westfield. That ambition fits a brand that company materials describe as female-founded and studio-based in the $1.8 trillion wellness market. Franchise materials say Degree Wellness was founded in 2018, began franchising in 2024 and opened its national headquarters in downtown Jacksonville, Florida, in March 2024 as part of a multimillion-dollar investment in the brand’s next phase.

The larger context helps explain why cold plunge is being bundled, not sold alone. A 2025 review in PLOS ONE found cold-water immersion has gained popularity among healthy adults, while Cleveland Clinic and Mayo Clinic Health System note possible benefits such as less soreness, reduced inflammation and better focus, alongside real risks for some users. In Carmel, that has become the pitch: make ice bath culture feel polished, supervised and monthly, then see whether the Midwest will keep showing up.