Building a thriving business from scratch is just but the second most difficult task for some pool and spa business owners. The hardest task of all is successfully handing it over as you head for retirement. It’s a scary task, especially after sacrificing a lot and caring for it. It is without a doubt you’d like it to survive and continue growing.
There are many similarities between a family business and a child. A family business is like the birth of a child and its guidance to maturity. It is always a secret wish for every owner of a pool and spa business that one of their children will take over the business. This is to give the parent-owner a smooth, beneficial transition into retirement.
Most parent-owners have had this dream despite the various challenges like family conflicts, non-interested or even unable children.
Currently, a third-generation family-owned pool and spa business, Jet line Products, is one firm that has managed to undergo a successful transition. The results have been satisfying results for both generations. The retiring generation made away with good proceeds from their years of hard work. On the other hand, the new generation maintained important positions in a new era.
Warren Feder, an associate at Carl Marks Advisors, an investment bank that guides middle market companies, led the team on this successful sale. From his experience in facilitating sales of family owned businesses, he has valuable advice for family owners interested in a successful transition while maintaining family bonds and still enjoy the fruits of their efforts.
Family dimensions can complicate the operations of a family business. Based on statistics, most family business hardly makes it to the third generation and if they do they very few go beyond that. It is an uphill task to work through a family’s challenges and the challenges of a business both combined.
Many family business owners headed for retirement believe the best solution is to sell the business. The business should also operate separately from the family, even though this may not be their first instinct.
Jet Line is a pool equipment distributor established in 1971 by the Epstein family. By early last year, it was in its third generation of ownership.
There were different family groups with varying objectives. For the second generation, several siblings wanted to exit and cash out. On the other hand, for the third generation, three of them, Andy, Josh, and Brett Epstein, were seeking different opportunities the business could present. They wanted to grow the firm.
To reach an amicable solution, they held meetings and tried to keep the issue as confidential as possible. However, word leaked, and to their surprise, POOLCORP, their biggest competitor, reached out in response to the rumors.
After much persistence, POOLCORP eventually got to have a meeting with Jet Line. The meeting turned out to be a turning point for both companies. The meeting ended in a deal, and the company was finally closed at the end of September. The deal was satisfactory for both parties where Andy and Josh Epstein joined the new company holding senior positions, and the second generation siblings cashed out from the sale proceeds.
Helpful advice on a successful sale
From the successful Jet Line sale, Feder highlights some vital lessons to facilitate the sale of a pool and spa business, specifically a family business. The first point is to limit the players involved. One member is the most preferable. If you involve equal players with an equal say, it will make it difficult to get to a deal.
Secondly, get good advisors and allow them to do their work. Let’s face it; very few family business owners know how to sell their companies. You may need market experts and people who know how to structure deals.
The third element is the firm’s record keeping, and financial system as the buyer needs proof of its profits and revenue. Purchasers can send in their accountants to validate your figures. If you have good figures, it makes it easier to strike a deal; however, it makes the process a bit challenging if you have bad figures.
One of the biggest challenges in a pool and spa business sale is that expertise and experience lie with the management looking to cash out and leave the business. This makes it hard for the buyer to grow the business successfully. At this point, procedures, systems, organization, and having experienced people for management come in as an advantage. You need to know how the business will run after your exit unless you sell to an experienced buyer. In some cases, the owner can stay for a 2-3 year period to oversee a successful transition.
Covid Symptoms; Business Weariness
Covid has altered everything just like in every area of finance and economy, in business sales and acquisition. Feder reflects on 2020 events as increasing the pace of activity.
Many older people suffered from Covid, which may be a huge turning point in the pool and spa business industry. Even though a number of people escaped this harrowing experience alive, several people opt for their health and lives compared to business. As a result, according to Feder, it is an expectation that more families will be open to selling their businesses earlier and stay to facilitate a successful pool and spa business transition to avoid health risks when aged.
Stainless Steel Spas With Diamond Spas – A Legacy of Excellence
If you’re dreaming of transforming your backyard into a modern oasis of relaxation and style, look no further than Diamond Spas. Specializing in stainless steel pools and spas, Diamond Spas brings a touch of elegance and innovation to your outdoor space. Let’s dive into the fascinating history of this renowned company and explore the remarkable benefits of their stainless steel creations.
Diamond Spas: Premium Manufacturers of Stainless Steel Spas
Diamond Spas has a rich history that dates back over two decades. Founded in 1996 by Stephanie Bennett, the company set out to redefine the concept of luxury aquatic living. Stephanie’s vision was to create high-quality, sustainable, and customizable stainless steel pools and spas that would elevate the backyard experience for homeowners.
Since its inception, Diamond Spas has become a trailblazer in the industry, pushing boundaries and setting new standards for design and craftsmanship. With an unwavering commitment to quality and innovation, the company has earned a reputation as the go-to source for discerning homeowners seeking the pinnacle of luxury and durability in aquatic features.
Advantages of Stainless Steel
Stainless steel pools and spas offer a multitude of advantages that set them apart from traditional options. While they may be relatively new to North America, stainless steel aquatic features have long been favored in Europe, particularly in municipal and public settings.
One of the primary benefits of stainless steel is its hygienic properties. Unlike other materials, stainless steel is non-porous, which means bacteria and germs cannot penetrate its surface. This results in superior water quality and simplified maintenance, ensuring a safe and enjoyable experience for swimmers and bathers.
Furthermore, the entire range of accessories, such as steps, rails, and benches, are all crafted from stainless steel, providing a cohesive and visually stunning aesthetic. With no risk of discoloration or degradation over time, your Diamond Spas pool or spa will maintain its pristine appearance for years to come.
Environmental Friendliness and Adaptability
In addition to its inherent beauty and functionality, stainless steel is an environmentally friendly choice. Unlike traditional materials, such as concrete, plastic, or vinyl, stainless steel is fully recyclable. By choosing a stainless steel pool or spa from Diamond Spas, you’re making a sustainable choice that minimizes your environmental footprint.
Stainless steel is also ideal for various climates, including cold regions. Their frost-resistant properties ensure year-round enjoyment, even in harsh winter conditions. With their lightweight and free-standing design, these installations can be quickly and easily installed, tailored to your specific needs and preferences.
Invest in Long-Term Luxury
While stainless steel pools and spas may come with a higher upfront cost compared to other materials, they offer long-term value and savings. The durability and low-maintenance nature of stainless steel significantly reduce the need for frequent repairs, replacements, and costly upkeep.
When you choose Diamond Spas, you’re investing in a top-of-the-line, luxurious addition to your home that will stand the test of time. The unparalleled craftsmanship and attention to detail ensure that your stainless steel pool or spa will remain a statement of luxury and refinement for years to come.
Immerse Yourself in Luxury
Diamond Spas offers a wide range of exquisite pools and spas that can be customized to suit your unique taste and space requirements. Whether you envision a sleek and modern pool with clean lines or a luxurious hot tub with strategically placed jets, Diamond Spas has the expertise to bring your vision to life.
Their skilled craftsmen meticulously handcraft each pool and spa using the highest quality stainless steel materials. This ensures not only exceptional durability but also a stunning visual appeal that will enhance the overall aesthetics of your outdoor area.
Unmatched Durability and Low Maintenance
One of the standout features of stainless steel pools and spas from Diamond Spas is their remarkable durability. Unlike traditional pool materials that may crack, fade, or deteriorate over time, stainless steel stands the test of time. It is resistant to corrosion, staining, and damage from harsh weather conditions, ensuring that your investment remains in pristine condition for years to come.
In addition to its durability, stainless steel is incredibly low maintenance. Its non-porous surface prevents the growth of bacteria and algae, reducing the need for frequent cleaning and chemical treatments. This not only saves you time and effort but also minimizes the use of harsh chemicals, making it a healthier choice for you and the environment.
Aesthetic Elegance and Customization
When it comes to design possibilities, Diamond Spas leaves no stone unturned. Their products can be customized with various features, including built-in seating, integrated lighting, waterfalls, and unique shapes. Whether you desire a lap pool for fitness purposes or a cascading hot tub for ultimate relaxation, Diamond Spas can turn your dreams into reality.
Moreover, stainless steel’s inherent reflective properties create a stunning visual effect, amplifying the beauty of your surroundings. It seamlessly blends with any architectural style, from contemporary to rustic, elevating the overall ambiance of your outdoor space.
A Commitment to Sustainability
Diamond Spas takes pride in their commitment to environmental sustainability. By choosing a stainless steel pool or spa, you are making an eco-conscious decision. Stainless steel is 100% recyclable, making it a responsible choice for those who prioritize sustainability and want to minimize their carbon footprint.
Additionally, stainless steel pools and spas require fewer resources for maintenance and repairs compared to traditional options. This translates to reduced water usage, energy consumption, and waste generation. By investing in a Diamond Spas stainless steel pool or spa you are not only enhancing your lifestyle but also contributing to a greener future.
Preventing Hard Water Issues In Your Spa
Indulging in a relaxing soak in a spa is a delightful experience that can rejuvenate both the body and mind. However, there is an often-overlooked factor that can impact your spa experience: hard water. In this article, we explore the effects of hard water in spas and how it can affect your relaxation oasis.
Understanding Hard Water
Before delving into the specifics of hard water in spas, let’s clarify what hard water actually is. Hard water refers to water that contains high mineral content, primarily calcium and magnesium. While these minerals are not harmful to human health, they can cause several undesirable effects in certain environments, including spas.
Hard Water in Spas
Spas, especially those that use traditional water filtration systems, are susceptible to the negative effects of hard water. When hard water is heated and circulated through the spa’s plumbing, the minerals present in the water tend to precipitate and accumulate on various surfaces, including the walls, jets, and heating elements of the spa.
The Consequences of Hard Water
- Scale Buildup: The mineral deposits left behind by hard water can form unsightly white scale buildup on the spa’s surfaces. This can diminish the aesthetic appeal of the spa and require regular maintenance and cleaning to prevent excessive scaling.
- Skin and Hair Concerns: Hard water can leave a residue on the skin and hair, potentially causing dryness, irritation, and dullness. The minerals can strip away natural oils, leading to skin dryness and hair brittleness, which can detract from the overall experience of a spa session.
- Reduced Efficiency: The accumulation of minerals can also hinder the efficiency of the spa’s components, such as jets and heating elements. Over time, the reduced water flow and compromised heat transfer can impact the performance of the spa, resulting in decreased relaxation and enjoyment.
- Chemical Imbalance: The presence of minerals in hard water can interfere with the effectiveness of water treatment chemicals. It may require higher doses of sanitizers and pH balancers to maintain optimal water chemistry, increasing the cost and effort involved in spa maintenance.
Preventing and Treating Hard Water Issues in Spas
To mitigate the negative effects of hard water in spas, there are several steps you can take:
- Water Softeners: Installing a water softener system can help remove or reduce the mineral content in the water before it enters the spa. This significantly reduces the chances of scale buildup and enhances the overall performance and lifespan of the spa.
- Regular Maintenance: Implementing a regular maintenance routine is crucial for addressing hard water issues. Regularly cleaning the spa, including its jets and surfaces, can help prevent mineral accumulation and scale buildup. Additionally, using appropriate cleaning agents designed for spas can assist in maintaining optimal water chemistry.
- Filtration Systems: Consider upgrading to a spa with advanced filtration systems that are specifically designed to handle hard water. These systems often incorporate innovative technologies that help minimize scale buildup and prolong the life of the spa’s components.
While indulging in a spa can be a wonderful way to unwind and relax, the impact of hard water cannot be ignored. Understanding the consequences of hard water and taking proactive measures to prevent and treat it can help ensure that your spa experience remains consistently enjoyable. By employing water softeners, adhering to a regular maintenance routine, and considering advanced filtration systems, you can mitigate the effects of hard water, allowing you to immerse yourself in the soothing oasis of your spa without any unwelcome surprises.
Featured Photo Credit: Master Spas
Plug N’ Play Spas – Is One Right For Your Backyard?
For those seeking the therapeutic benefits of hydrotherapy without the hassle of additional electrical requirements, plug n’ play spas offer an enticing solution. But what exactly is a plug n’ play spa, and how does it differ from traditional portable hot tubs? In this article, we will explore the concept of plug n’ play spas, their unique features, and the benefits they bring to the table.
Advantages of Plug n’ Play Spas
Owning a plug n’ play spa comes with several notable advantages. One of the key benefits is the ease of installation and setup. Simply plug in the spa, fill it with water, heat it up, and you’re ready to enjoy a soothing soak. Unlike traditional hot tubs, plug n’ play spas are not hardwired into a permanent outside GFCI box, which means they can be easily moved to a new location on your property if you decide to rearrange your backyard retreat. This feature is particularly beneficial for renters who seek the health and relaxation benefits of a portable spa but lack the option to run new electrical wiring.
Pros of Plug n’ Play Spas:
- Easy Installation: Plug n’ play spas require minimal setup and can be installed quickly. Simply plug them into a standard 110V power outlet, fill them with water, and start enjoying the benefits of hydrotherapy.
- Portability: Unlike traditional hot tubs that are hardwired, plug n’ play spas are not permanently installed. They can be easily moved to different locations within your property, providing flexibility and convenience.
- No Additional Wiring: One of the significant advantages of plug n’ play spas is that they do not require additional electrical wiring. This eliminates the need for hiring an electrician and reduces installation costs.
- Rental-Friendly: If you’re renting a property, plug n’ play spas are an excellent option. Since they don’t require permanent installation, you can enjoy the benefits of a spa without making modifications to the electrical system of your rental home.
- Lower Cost: Plug n’ play spas generally have a lower upfront cost compared to traditional hot tubs. The reduced installation expenses, absence of electrical modifications, and simplified setup contribute to their affordability.
Cons of Plug n’ Play Spas:
- Limited Performance: Plug n’ play spas typically operate with a single pump at a time due to their lower voltage requirements. This may result in slower heating of the water and potentially lower pump power compared to higher voltage options.
- Limited Features: Some advanced features found in traditional hot tubs, such as multiple pumps, specialized jet configurations, and integrated audio systems, may be limited or not available in plug n’ play spas.
- Longer Heat-Up Time: Due to their lower voltage, plug n’ play spas may take longer to heat the water to the desired temperature, especially when initially filled with fresh water. Patience may be required before the spa is ready for use.
- Electrical Limitations: Since plug n’ play spas run on standard 110V power, the electrical capacity may limit the overall performance and functionality of the spa. For those seeking a more robust and customizable spa experience, higher voltage options may be more suitable.
- Potential Compatibility Issues: Some older homes or properties with outdated electrical systems may not be compatible with plug n’ play spas. It is essential to ensure that your electrical infrastructure can support the power requirements of the spa before making a purchase.
It is worth noting that the pros and cons listed above may vary depending on the specific make and model of plug n’ play spas, as well as individual preferences and circumstances. It’s always recommended to thoroughly research and consider your needs before deciding on the type of spa that best suits you.
Understanding Power Requirements
Before delving into the specifics of plug n’ play spas, it is important to understand the power requirements of hot tubs in general. Whether it’s a traditional or plug n’ play spa, a power source is necessary to operate the jets, heat the water, and perform other functions. Typically, hot tubs require either 120V or 240V electrical hookup. While most hot tubs necessitate a 240V connection, plug n’ play spas are designed to run on standard 110V power, which can be conveniently plugged into most household power sources without the need for additional wiring.
Considerations for Performance
While the 110V electrical requirements of plug n’ play spas may result in a lower installation cost, it’s important to understand the potential performance differences. Models designed to plug into regular three-pronged exterior outlets typically operate with a single pump at a time. This means that heating the water may take a bit longer compared to higher voltage options. Additionally, there may be a slight variance in pump power. However, renowned brands like Sundance® Spas maintain a balanced ratio of jets to pumps, ensuring an enjoyable massage experience.
Regardless of the electrical option you choose, plug n’ play spas still offer a range of benefits. These may include patented Fluidix® Jets found in most series, seats that provide unparalleled comfort, and water management systems that simplify spa ownership. If you have any lingering questions about plug n’ play spas or need guidance in choosing the best hot tub for your needs, Sundance® Spa dealers and buying guides are excellent resources to help you make an informed decision.
Is a Plug N’ Play Spa Right For Me?
Plug n’ play spas have revolutionized the hot tub industry by offering a convenient and cost-effective solution for enjoying hydrotherapy. With their ability to operate on standard 110V power, these spas eliminate the need for additional wiring and make installation a breeze. While there may be slight performance differences compared to higher voltage options, the benefits of owning a plug n’ play spa, including ease of setup and flexibility in relocation, make them an appealing choice for many. So, if you’re seeking a hassle-free and rejuvenating spa experience, plug n’ play spas might be the perfect fit for you.
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