When we meet up with people we haven’t seen or spoken to in a while it is normal to ask how they are doing. This is often followed by; how is work? or, how is your business doing?
Whilst we don’t like to spread the doom and gloom at Simply Registrations, there is no escaping the fact that some people are having a tough time financially right now. There are certain factors which seem to have a major impact on how wealthy people feel. One such factor is the cost of fuel. Putting petrol or diesel in your car in the UK is costing you more than ever before. Gas and electric bills are also on the rise as is the cost of raw ingredients, which in turn means your weekly shop may be costing you a bit more than usual.
However, there are always people, businesses and even industries that seem to buck the trend. Surely you have heard about the success of Facebook? There are lots of technology companies growing their businesses and increasing their profits. Even the stock market has produced a few winners recently. Twenty thousand pounds invested in FTSE 100 constituent ARM Holdings a year ago, would today be worth over fifty-five thousand pounds.
So what about the private number plates business? How good or bad is the demand for personalised registrations at the moment? I would never say the private number plates industry is immune from the wider economy, but it seems as if people always want to buy personalised registrations. In both good times and perceived bad times personalised plates are always selling. The noticeable difference is which types of plates are selling.
Right now it is the good stuff that is getting all of the attention. Registrations with two letters and two numbers such as 99 SE and registrations with three letters and one number such as 2 ADR are the most sought after. The lower price bracket plates with three letters and three numbers such as 707 JET don’t seem to be getting a look in.
I suppose it could be because there are people out there with sizeable chunks of money to spend who seem to do okay regardless of the financial times we live in. A successful business person with a large net worth can still splash out on the little luxuries in life. On the other hand, the middle income family who would normally be prime candidates for an attractive three letter, three number registration, are probably having to prioritise where their funds are spent at the moment.
So to answer the original question: how are things with the private number plates business? The answer depends on what sort of stock you are carrying and whether you are geared up to sell to the masses, or aiming to sell to the classes.