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In the midst of the Great Recession, the Wall Street Journal took an in-depth look at the costs associated with owning a pool. The article titled "Taking a Bath on Your Pool" punched in the numbers and made the following conclusions by citing industry experts and financial and real estate professionals:
Following the economic downturn in 2007 and 2008, disposable income among households in the United States declined drastically. This meant that consumer spending on an array of goods and services, including home maintenance and renovation projects, dropped significantly due in part to job losses, a credit crunch and a paucity of competitive pricing.
One of the services that was and is still considered a luxury is pool services. For the past five years, homeowners that have been fortunate enough to own a pool began to clean it themselves, diminished the amount of times they cleaned the pool and even refrained from maintaining their pool entirely to save money.
Between the years 2007 and 2012, the industry experienced a near four percent decline and posted annual revenues of $3 billion. At the present time, it maintains more than 51,000 businesses across the country and employs approximately 63,000 employees.swimming Pool Fencing Service in San Antonio
A report published early last year by IBISWorld suggested that the industry is experiencing growth as more people head back to the workforce - and thus lack the time to perform their household chores - and earn back the money that was potentially lost during the recession.
"A decline in unemployment is not only expected to boost disposable income levels but also reduce the amount of time consumers have available to maintain swimming pools and spas, further boosting demand for the services provided by this industry," stated Kathleen Ripley, IBISWorld industry analyst, in a statement.
In addition, the report projects that businesses' clientele base could flourish since the construction sector is modestly growing and consumers seek to install pools and spas in their homes.
Unfortunately, as more consumers learn to be fiscally prudent, owner-operated and small businesses face heightened competition, but not from their fellow competitors. Instead, they face the risk of losing customers from do-it-yourself pool maintenance equipment that has become quite successful in the marketplace in the past few years.
Nevertheless, owning a pool is a tremendous luxury to have because it creates new memories, is perfect for families and adds value to the home - many homebuyers in the south expect the home to have a pool. In the end, swimming pools provide excellent benefits for exercise for both the adults and children, is great to host summertime pool parties and enjoying a late-night swim is one of the top advantages of owning your own pool