Firestone Financial, a subsidiary of Berkshire Bank, has released the results of a survey that asked amusement owners and operators the impact of COVID-19 on their businesses and the effect on their 2021 plans. The results included purchasing needs and industry event attendance plans over the next year.
“Our customers and industry partners have faced their greatest challenges this year – from shut downs to shifts in consumer behavior to changes and limitations in facility operations,” said Firestone Financial’s EVP, Chief Operating Officer Michael Smith. “Firestone has always prided itself on supporting the amusement industry. In response to the uncertainty COVID-19 has caused in the industry, we want the survey results to be used as a resource to understand where our customers are, what their plans are over the next 12 months, and how we can best service those plans.”
- Of those surveyed, 65% plan to purchase equipment for their business over the next 12 months.
- Forty-seven percent plan to finance up to $50k in the next 12 months.
- Due to COVID-19, 45% of respondents indicated they are no longer making planned purchases.
- Fifty-nine percent do not plan to attend any in-person events in 2020 or 2021
The survey was distributed to Firestone Financial’s amusement, location-based entertainment, and vending customers, as well as others in the industry.
Questions related to their purchasing plans over the next 12 months and the impact of COVID on those plans and their business were asked of respondents, as well as their plans to attend industry events over the next year.
During September 2020, 132 surveys were completed. Survey findings can be found here.
Founded in 1965, Firestone Financial is a nationwide finance company serving the amusement, carnival, fitness, vending and laundry industries. Interested parties can learn more about Firestone Financial at www.firestonefinancial.com or by calling Firestone Financial at 800-851-1001.