This was going to be a short reply to a comment on another thread (five sisters zoo). But I started to go off thread very quickly and started waffling! But Im interested in how others feel about what the current economic climates affect will be on UK zoos and what information people have about new developments happening/ not now going to happen. I think that most well managed zoos (big or small) should ,as businesses, not suffer. The 'credit crunch' provides a convenient excuse to be rolled out by many mismanaged failing businesses. Zoos are a relatively cheap and accessible family day out. With the pound having fallen so dramatically against the euro cheap foreign family holidays are no longer so cheap. If anything a typical 2.2 family are more likely to increase the number of day trips next year, to places like zoos, and cut back on holidays abroad. In comparison to other forms of entertainment, zoos in general provide good value for money. Just compare prices of going to see a professional football match with your son and his two friends or taking the family to a popular London show. The problems will come for the more badly financially managed. Those that spent heavily during the good times (living beyond your means) or bought at the top of the market and those that rely on heavy outside backing may find a dwindling source of funding. I cant imagine the market value of many zoos rising with house and land prices falling so quickly. Its not bad luck if you buy a run down zoo in the middle of nowhere, borrow/invest lots of money to purchase and try to make improvements and see its market value fall. A well managed business predicts the future and develops accordingly. Clever investors buy at the bottom and sell at the top. Where I predict we will see the affects is in the slowdown of new developments. A number of the big UK zoos (Bristol, Edinburgh, Chester, etc) have grand plans and many more smaller zoos will have there own plans for the future. How will these be affected? how much were they relying on borrowing from banks etc and other outside investment? how much do they have in the bank saved for future development? how profitable are they? how viable were these projects in the first place? And many more questions. How many unviable projects (dreams) will be sidelined or unprofitable zoos close with the ready made excuse of the ‘credit crunch’. Now could well be a great time to invest for a financially well managed zoo. Suddenly the value of the neighbouring farmland has crashed, those involved in the building industry are looking for work, loan rates to successful businesses are historically low etc.. , the bit of car park you sold off last year at the top of the market can now be bought back at half the price.
