First, I'll preface my remark I live in a middle to upper middle income area ( median income 55K), relatively conservative, with low minority numbers. Since opening my business 4 years ago, I've had the pleasure to meet many good people. Hardly ever an issue collecting money ( I auto draft hundreds) with half my customers paying in full for the year.
Within the last two years, my collection issues went from maybe 5 to now at least 25 on a billing of around 320 per month. Billings are not large ( ave 32.00 month) Some have lost thier jobs, but most the result of less/ no overtime or a cutback in hours. I received a call Thanksgiving eve from a lady who recently joined, asking to cancel because her husband just lost his job......She was obviously distressed, I could hear it in her voice.
Since the summer of recovery, year 3, I've went from a robust 420 monthly billings and 390 paid in advance, to 320 monthly billings and 307 paid in advance.....With no new competition or different efforts on my part...If anything, I've literally tripled my advertising efforts to stay where I am today.
I've quit counting the people, after expiration of membership ( I contact everyone) who state they don't have the extra funds today. My membership has dropped 22% since the summer of recovery, ironically, mirroring the un and underemployed.