Amusement Industry Still Has Equipment Purchasing Plans Despite COVID-19 Effects
OCT 22, 2020 - 7:26 am
Firestone Financial, a subsidiary of Berkshire Bank, revealed the results of its amusement industry survey, including purchasing needs and industry event attendance plans over the next year.
“Our customers and industry partners have faced their greatest challenges this year — from shutdowns to shifts in consumer behavior, to changes and limitations in facility operations,” Michael Smith, EVP and chief operating officer of Firestone Financial, said. “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.
47% plan to finance up to $50,000 in the next 12 months.
Due to COVID-19, 45% of respondents indicated they are no longer making planned purchases.
59% 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 purchasing plans over the next 12 months and the impact of COVID-19 on those plans and business were asked of respondents, as well as their plans to attend industry events over the next year. There were 132 surveys completed during September 2020.
Founded in 1965, Firestone Financial is a finance company serving the amusement, carnival, fitness, vending and laundry industries.
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