He studied taxidermy then chemistry at the Prague Polytechnical Institute.

Following a visit to London (1859–1860) Fric opened his natural history business in Prague in 1862, supplying botanical, zoological and mineral specimens to museums, educational institutions and private collectors worldwide.

Fric married Anna Rottová, the daughter of a hardware store owner.

It became a "trading natural history museum " first named "Fric's Museum of Natural History" then in 1911 the Natural History Institute in Prague (German: Naturhistorisches Institut in Prag).

His son Jaromír continued the business until the shop finally closed in 1958, when the remaining stock of specimens was donated to the National Museum in Prague.