Psychics foresee busy times as financial worries continue
Northern Nevada Business Weekly
People worried about the course of their finances increasingly turn to Reno-area psychics for a peek into the future.
In fact, psychics says the increase in customers paying for psychic readings and similar services has offset lower sales of the items such as tarot cards and incense oils that many of them sell.
“It’s all related to the state of the economy at this time. ‘Am I losing my house? Am I going to find a job?” said Theresa Peacock, co-owner of Above and Beyond at 515 E. Sixth St.
“Nine out of 10 people are concerned about their financial futures,” she added. “I get a lot of feedback that I have been correct, and that I have sent them in the right direction.”
Peacock has owned the psychic practice with Mike Harris since 2000.
She says walk-ins at the little red house on the corner of Sixth and Valley have dipped slightly in the past few years – she’s got enough business to stay open four days a week instead of five – but the majority of new walk-in clientele are seeking answers to questions about their financial futures.
Peacock works as a psychic, reading tarot cards and using astrology, and she also practices as a medium and in psychometry, where she holds an object to divine impressions of the past and future.
Terri Jay, a psychic and medium who has lived in Washoe Valley since 1986, works under contract with the Grand Sierra Resort to provide readings for members of the resort’s players club as part of its comps package. Jay says many of the casino’s patrons ask for readings on their jobs and financial status. Jay also runs a phone service from her home that works with international clientele. Many people hear about her services from her website, but more than 60 percent of her customers come through referrals.
“That is really an honor,” she said.
Financial-oriented psychic predictions became the focus in the fall of 2008 after the stock market cratered, said Jay, who has worked as a psychic, medium and in animal communication for more than 20 years.
In addition to her Tuesday, Thursday and Friday night gigs at the Grand Sierra, Jay also works as a speaker and psychic at parties and special events. Revenue from special events has significantly tapered off over the past 24 months.
“Some summers, I would do probably eight to 10 events, and I am down to just a handful the last few summers,” Jay said.
Psychics that run small retail operations say revenues have dried up considerably.
Harris, who runs the retail side of Above and Beyond, says sales of jewelry, incense oils, candles, divination tools and tarot cards are down mostly because he just resumed a retail storefront less than a year ago and it’s taken a while for the public to find the shop.
“Most of my items are under $20 or $30 bucks, and they just make people feel good,” Harris says. “They are inexpensive but nice stuff.”
Laura Peppard, owner of the Reno Psychic Institute at 20 Hillcrest Drive, says retail sales have dipped 30 percent since mid-2009. However, readings in aura energy and group energy healing classes have increased. Meditation and energy healing classes typically have eight to 15 people and run six weeks.
“The interesting thing is that classes and readings are more money, but yet people find a way to make that happen,” she says.
Peppard has operated Reno Psychic Institute at its Hillcrest Drive location since 2000 when she moved from a smaller space on Center Street.
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