AT ISPA’ S RECENT VIRTUAL SESSION,“ Tariff Talk: Preparing for the Future,” experts explored the growing concern about tariffs on the spa industry. Jeff Schriefer( Bank of the Bluegrass) discussed how tariffs affect global supply chains, with many spa-related goods likely to be affected because of their complex international sourcing. Peter Tsoflias( Blank Rome) commented on the legal and practical challenges businesses face, especially under fixed contracts.

In an in-depth discussion moderated by Ben Polk( Associations International), Tsoflias and Schriefer covered financial and legal strategies to address tariffs, such as restructuring loans and passing costs to consumers. Both experts advised staying informed through reputable sources.

A video of the session is available to ISPA members in iLearn.

JEFF SCHRIEFER, CTFA, MBA V. P. Sr. Wealth Advisor

BANK OF THE BLUEGRASS & TRUST CO.

PETER TSOFLIAS Corporate & Finance Attorney and Partner

BLANK ROME LLP

BEN POLK, CPA Chief Financial Officer

ASSOCIATIONS INTERNATIONAL

Tariffs are taxes on imported goods. Traditionally, governments have enacted, altered and enforced tariffs primarily to generate revenue and protect domestic industries, but tariffs are also a tool to negotiate trade deals and ensure national security. WHY THIS MATTERS TO SPAS: Many spa backbar and retail goods— such as skincare products, cleaning supplies, robes, oils and packaging— are the result of international sourcing. Tariffs can increase costs across the spa’ s supply chain, an effect multiplied by each ingredient or component that is imported.

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You import finished products or ingredients Your suppliers source internationally Your resource partner contracts involve long-term pricing You notice price hikes or delivery delays

TIP: Start tracking how your inventory is sourced. A product that’ s assembled domestically might include components from abroad.

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