Company profiles
Survey respondents’ companies were just as diverse as the professionals they employ with respect to business size and average project value. Economic uncertainty and the unpredictability of the weather can take its toll on the pool and spa/hot tub sector; however, the industry remains optimistic. When asked how profitability had been over the last five years, 59 per cent said it had increased, while another 28 per cent said it had remained the same.
Social media
Social media platforms such as Facebook, Twitter, YouTube, and LinkedIn have become huge marketing outlets for businesses and they have not gone unnoticed by those in the aquatics industry. The analytic tools these applications offer provide businesses with valuable information about their clients and potential customers and, in most cases, marketing campaigns can be set-up easily and for free. That said, social media for business is no longer optional and it comes as no surprise that Facebook leads the way. In fact, 82 per cent of all respondents are using the social networking service, while 33 per cent are using Twitter.
Looking into the future
There are many variables for pool and spa/hot tub businesses going into each season; therefore, predicting how successful they will be can be difficult. Despite this uncertainty, survey respondents are very confident in their businesses, along with the projects they build and products they sell, as 95 per cent said the next five years will be better than or the same as the previous five. Only five per cent said business would be down.
Weather/economy
Due to the nature of the products the industry offers consumers, the economy and weather are the main factors between a good, bad, or mediocre year. Take, for instance, a hot summer like last year when business was booming for most. However, poor weather combined with a bad economy can disrupt business success—the latter no one can predict or control. While most large pool and spa/hot tub firms have survived many of these economic and weather-related ebbs and flows, depending on how severe they are, it is the smaller companies, or new start-ups that typically get hit the worst. When asked which has a more negative influence on business, 44 per cent said the economy (up three per cent from last year), while 44 per cent said the weather, up 11 per cent year-over-year.
Industry associations
Belonging to a professional association in the aquatics industry helps to connect similar businesses which all abide by a set code of ethics. These not-for-profit groups provide its members insights, guidelines and, in some cases, industry standards. Members include builders and contractors, retailers, service providers, manufacturers, and distributors. Not surprising, 49 per cent of respondents belong to the Pool & Hot Tub Council of Canada (PHTCC), which is up 25 per cent over last year, while 35 per cent (17 per cent more than a year ago) are members of The Association of Pool & Spa Professionals (APSP). Seven per cent said they are members of the Association des commerçants de piscines du Québec (ACPQ), which is down two per cent year-over-year.
| What is the greatest frustration with your job? |
|---|
| “Difficulties finding staff, especially those driven to improve.” |
| “Dealing with the inevitable seasonal construction/renovation rush.” |
| “Clients who do not listen and shop for the cheapest price not the best job.” |
| “Customers not paying on time or trying to get a discount.” |
| “Miscommunication between employees.” |
| “Internet companies taking sales away from brick-and-mortar businesses.” |
| “The lack of work in the winter.” |
| What single thing will have the biggest Impact over the next five years? |
|---|
| In addition to weather and the economy, respondents had several other opinions on what may or may not influence the pool and spa/hot tub industry, including: |
| “Proximity of new companies and regional growth.” |
| “Social media and the Internet.” |
| “Maintaining great customer service.” |
| “The U.S. economy and how it affects the global economy.” |
| “Reputation for quality work.” |
| “Sales and crew efficiency.” |
| “Higher interest rates and another recession.” |
| “Economic policy of the federal government.” |
| “Housing prices.” |
Crowning achievement
What a difference a year can make—especially when it is a successful one. While the majority of respondents to last year’s survey said they were “equally satisfied” with their career, this changed for the better in 2016. This time, almost half of all respondents (46 per cent) described themselves as being “more satisfied,” representing an increase of 14 per cent year-over-year. Although it is not a significant change, the number of respondents who said they were “less satisfied” with their careers saw a positive decrease of one per cent, nonetheless. Further, when comparing this year’s trends to the responses we received five years ago (2012), just as the survey asks, the number of respondents who said they were “more satisfied” increased by 11 per cent, while those who are “equally satisfied” decreased by three per cent, and those “less satisfied” dropped by eight per cent, respectively.
