"We've had our ups and downs over the years but this downturn has lasted the longest. It's gone on since 2007 and it doesn't show any signs of getting better. All the other downturns lasted only one year," he said.
"We've still had our regular clients spending money but the discretionary dollar is not as big as it was. Most people would have someone in their family out of work, and they have been busy paying off mortgages and debt."
Mr Young, 22 at the time and just married, moved from the Waikato to Tauranga with Mrs Young in 1966.
He first worked for Hamiltons department store on the corner of The Strand and Spring St and then moved to Bay Outfitters, becoming manager and handling 14 staff.
Bay Outfitters take up a large slab of The Strand frontage between Hamilton and Harington streets, with three connecting stores and two storerooms downstairs and the suit lounge upstairs.
Mr Young stayed there for 19 years - the last five years were under the new owner Warnocks - before deciding to start his own menswear store.
He was soon joined by his son Tony and Colleen, who looked after the displays and promotions.
At its peak during the 1990s, Laurie Young Menswear employed seven people, four fulltime and three part-time, including Paul Delaney who worked with Mr Young at Warnocks.
The store was always known for quality - made-to-measure suits and all - and it moved with the times. Today it stocks the latest brands, English Laundry, Diesel, Ben Sherman and Pepe jeans.
"When we ran jeans it was all Levi's but that's old hat now," Mr Young said.
He is now looking forward to golfing and fishing but will miss coming to work "with a purpose".
After 24 years of working alongside his father, Tony is now looking at other employment options.
"It's bit hard on him but he will find something. If I was finding it hard to make the store work, then I would think he would find it harder," said Mr Young.
