Portable Sanitation Association International

ASSOCIATIONINSIGHT Portable Sanitation Association International News BIWEEKLY EDITION AUGUST 5, 2020 Page 9 Economic Outlook, Part II: Ideas from across the US…Continued from page 8 Continued on page 10 He suggests schools, churches, retail stores, and even banks as potential customers for hand wash stations as our country battles this pandemic. As you might imagine, Satellite has seen a tremendous year-over-year increase in demand for hand wash stations, hand sanitizer stations, and the supplies and refills that go with these products. In addition, because of an increase in multiple portable restroom services per week, deodorizer demand has also increased. The demand for trucks, units, and trailers has remained relatively constant from last year. John is optimistic about the economic future of our industry and sees the time when special events will "come back with a vengeance" as the battle against COVID-19 gradually begins to be won. John has some very sound advice and suggestions for operators to consider. "Try to seek a balance between managing your business and investing in your business." Look at the demand and compare that to your equipment inventory. Will the demand for various products continue to increase in your geographic area or does it appear to have hit its peak? Looking forward, are you preparing for the eventual return of the special events market? "Push your comfort zone in terms of equipment purchases while protecting your employees." Mike Adams—PolyJohn An experienced professional in our industry, Mike has a wealth of knowledge to share in terms of the economy. "Be prepared" is a key phrase that both suppliers and operators must adopt. PolyJohn has also seen a tremendous increase in demand for hand wash stations and hand sanitizer stations. Mike feels that this equipment will remain "constant" in terms of customer demands on job sites and will become "constants" once special events return to full capacity. The revenue mix is different this year, Mike observes, but that the revenue expectations are right on target. "Many of the operators that I speak with on a daily basis report this same condition." The relative absence of special events this year has "opened [some] operators' eyes" in terms of future opportunity for this area of the business. Mike brings up several interesting suggestions about future events. "The economy is influenced by politics to some degree and the 2020 election is upon us." He recommends that we stay aware of economic indicators after the election. Another point he makes is that to some degree, "there will be a contraction in the economy." New home sales combined with low interest rates "will eventually reach a saturation point" in various markets. Mike says that following new home construction numbers in your area is a good economic indicator. Mike also has several excellent reminders for his fellow PSAI members. "Watch your overhead expenses, particularly as we head into year-end." Take the time to examine the financial aspects of your business, even during busy times. In addition, "consider capital expenditures in 2020 with potential tax advantages." Mike wisely recommends meeting with a CPA to examine which tax advantages exist in your state. Lindy Boehme—CPACEX Lindy has many years of business success in the deodorizer industry and, as always, is extremely willing to share her industry knowledge. "The key to success and survival in this climate is to be diversified," notes Lindy. Her company, CPACEX—part of the FGL Group—provides a wide variety of cleaning products to a large and diverse customer base. Mike Adams Lindy Boehme

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