Tag Archives: business management

Hot tub or swim spa, what is the difference?

Retailers that have had customers ask to test a swim spa but cannot oblige because they do not carry them could be missing an emerging wave of new buyers. Although swim spas are not new to the hot tub industry, an increasing number of manufacturers now have a swim spa line. The reason for this is because these units serve the niche fitness market—one for which most consumers did not know they were looking for until seeing them in action.

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Cash management: Retail tips that can bolster profitability

When it comes to the success of a pool and spa business, proper cash management is critical. Many businesses fall into the trap of equating cash flow with overall revenue. In reality, cash flow is a product of multiple areas of a business; therefore, investing time in these areas can increase profitability. For pool and spa companies, four key areas can effect overall cash management.

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Why smart people can make bad business decisions

Companies in the pool and spa industry are facing an ironic problem. Success depends on the quality of everyday decisions made by people in the company. However, people have hardwired flaws in their thinking that are reinforced by a multi-tasking, time-constrained environment. In fact, many companies are doing little to help improve their employees’ quality of thinking and instead, in some cases, are making matters worse.

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Centralized purchasing: Taking business operations to a new level of efficiency

In today’s highly competitive marketplace, centralized purchasing has become integral to business success. It eliminates redundant and duplicated efforts and creates opportunities for combining departmental purchases to qualify for volume discounts and decreased/eliminated shipping costs. Centralized purchasing also makes it easier to create and maintain good relationships with vendors and suppliers. Volume purchasing means better prices, greater discounts, and more agreeable terms can be obtained. Further, volume deliveries also help to cut down on staffing costs involved to move and store goods. Fortunately, the technology incorporated into today’s business software allows pool and hot tub retailers to automate much of this work as well as integrate these purchasing systems with accounting and stock control, making centralized purchasing key for specialized retailers to compete against big-box stores.

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