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Old 12-14-2008, 08:23 PM   #1 (permalink)
 
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How will tanning be effected?

So I just got done watching this segment on CBS tonight regarding the terrible state of the economy and the housing market. Basically I took from it that "they" say there will be another housing crisis wave because of the newest loans given in 05-07 called Alt-A and option ARM loans that are starting to reset, causing people's mortgage payments to go up and homeowners to default and therefore lose their homes. (Because they should have never been given the loan in the first place)

My question is what do you think this means to us in regards to people spending money to tan?

Here's what I think.... but, who knows- People will have to downsize to apartments or will be renting. They may possibly have more money to spend on things like tanning....(if they have a job too)

Just curious to see who else analyzes the unknown scary future of the economy and how it may effect our industry...I go back and forth everyday trying to rationalize how tanning will still fit in peoples budget in times like these....
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Old 12-14-2008, 09:38 PM   #2 (permalink)
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Re: How will tanning be effected?

We are in untested waters. We haven't seem anything like this in our lifetimes and nobody knows at this time how it will affect a business such as ours. If you remotely think it will help our business, think again. If this thing continues, and it will, your tanning salon converted to a soup kitchen, could bring in some people. No follow-up with a LOL here.

Last edited by parrot head; 12-14-2008 at 09:41 PM. Reason: spelling
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Old 12-15-2008, 09:32 AM   #3 (permalink)
 
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Re: How will tanning be effected?

I think that the smaller salons should be ok. I personally have seen an increase in my business due to the fact that the bigger salons in my area have to charge higher prices to try and at least break even every month. I only have 4 twenty minute beds with a great lamp in them. I think that the larger salons with big-fancy units/beds are having or will have a difficult time making enough revenue to meet all their expenses: like the big payment that goes along with those new beds. Don't get me wrong, I would love to purchase the newest thing in tanning beds, however, right now I am trying to save as much as possible so if the economy gets worse I will be able to survive.
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Old 12-15-2008, 10:50 AM   #4 (permalink)
 
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Re: How will tanning be effected?

Quote:
Originally Posted by MsMichel View Post
I think that the smaller salons should be ok. I personally have seen an increase in my business due to the fact that the bigger salons in my area have to charge higher prices to try and at least break even every month. I only have 4 twenty minute beds with a great lamp in them. I think that the larger salons with big-fancy units/beds are having or will have a difficult time making enough revenue to meet all their expenses: like the big payment that goes along with those new beds. Don't get me wrong, I would love to purchase the newest thing in tanning beds, however, right now I am trying to save as much as possible so if the economy gets worse I will be able to survive.
Same here. I had a girl sign up for a monthly membership Friday who drove 20 miles each way because with gas as low as it is, it's cheaper to tan at my place than a more expensive place where she lives.
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Old 12-15-2008, 12:35 PM   #5 (permalink)
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Re: How will tanning be effected?

Personal items will be the last to go. Big expenditures will go first, but anything pertaining to their person will go last. We have been up from LY YTD.

It depends on your immediate market. I am in a metro area with govt. jobs mainly. Not affecting us at all really.
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Old 12-15-2008, 01:10 PM   #6 (permalink)
 
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Re: How will tanning be effected?

So do you think people will sacrifice quality when it comes to tanning? As in they will continue to tan, but look for more attractive price tags and forget about the quality for the sake of saving more money of upfront? Because we are "considered" a more expensive salon compared to our competition. BUT, we are truly not because the other salons are about $10 cheaper upfront than us and everyone comes in here complaining that they "aren't getting anything & they go everyday" and then once they start tanning here because we don’t use cheap lamps customers end up only having to come here 2-3 times a week and get more than they were going everyday at the other place... so our upfront cost is more... but, much cheaper in the long run... But, again I realize perception is everything...and not everyone thinks like that-
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Old 12-15-2008, 02:14 PM   #7 (permalink)
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Re: How will tanning be effected?

its not something you can predict. some people will stop, some people will contine, some will start.

ive seen all that already
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Old 12-15-2008, 02:19 PM   #8 (permalink)
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Re: How will tanning be effected?

Right now ahead of last year but not by a significant amount.
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Old 12-15-2008, 02:26 PM   #9 (permalink)
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Re: How will tanning be effected?

We have seen an increase this year over last when alot of other things are experiencing a dip.
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Old 12-15-2008, 02:27 PM   #10 (permalink)
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Re: How will tanning be effected?

but in light of all that has happened in '08, I'm not complaining
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