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NY Times: Family-Run Amusement Parks Surviving a Downturn

Category: Open Roads

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Written by Randy Garbin

WILDWOOD, N.J. — Given that consumers have been so reluctant to spend lately, the family-run amusement park would seem especially vulnerable.

But amusement park owners around the country say the weather, not the housing downturn or job losses, played a bigger role in their fortunes this past summer.

“We had a lousy, wet June and a couple of hurricane threats this summer, so that was bad,” said Jack Morey, who with his brother Will, owns and runs three amusement piers along the Wildwood boardwalk. “Then the weather got better in August, and suddenly everyone was there.”

If they have sunshine and moderate temperatures, Mr. Morey and his fellow owners around the country say, the slower economy seems to be favoring them.

Indeed, the fact that most of the independent parks are owned by families may insulate them a bit from the normal business cycles, said William Alexander, who teaches courses in family business at the Wharton School at the University of Pennsylvania. “In many cases, these are seasonal businesses,” Mr. Alexander said. “And in the summer, the whole family would participate. In difficult economic times, particularly, a family committed to a business will sacrifice in deferring compensation and bonuses.”

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