Managing Through Corona Shut-Downs
Small service-based businesses everywhere have been hit hard by mandatory closures in order to slow the spread of the coronavirus. Our goal at BrandedLASH is to support our customers' businesses in the best way we can. I have been researching to compile information and I’ve reached out to lash salon owners across the United States and asked, “what are you doing to manage through the non-essential business closings?”
I hope some of these ideas help you!
WHAT SHOULD I DO ABOUT MY STAFF (W2 and 1099)?
If you have W2 employees, most, if not all, states are picking up the tab for the unemployment insurance cost. If you, the business owner, are set-up as a W2 employee in your business, you also may be eligible for unemployment benefits.
Have an open and authentic conversation with your staff about the reality of the situation and why you must lay them off during this time. Laying-off your W2 employees make them eligible to file and collect unemployment during the closure. Once you get word that you can re-open, rehire them back.
If you have 1099 contractors, this is tougher because they are not eligible for unemployment benefits.
-If you are financially able, you may consider paying them in advance of their work.
-You could also contract them to do some work from home, such as managing your social media accounts or making training videos from home.
-If your contractors have registered businesses, they may be able to apply for disaster relief loans through the government. Check out the resources here: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources
-The federal government has extended the deadline for filing 2019 tax returns until July 15, 2020, so they can hang onto their money a little longer. https://www.irs.gov/newsroom/payment-deadline-extended-to-july-15-2020
HOW TO PAY YOUR BUSINESS BILLS WHILE SHUT-DOWN?
-Ask your landlord if you can pay less rent while closed, and pay the remaining rent when you are able to reopen.
-Ask your utility provider for extensions on your payments.
-Apply for a 0% interest credit card for the first 12 months. Chase is giving $500 once you spend $3,000 and there are no annual fees. https://www.referyourchasecard.com/27/0RIWJNCBNX
-You can apply for a Facebook Small Business Grant: https://www.facebook.com/business/boost/grant
-Check out state-specific resources and relief: https://www.forbes.com/sites/advisor/2020/03/20/list-of-coronavirus-covid-19-small-business-relief-programs/#27960a73e89d
-Sell care packages that clients can purchase through your website and you can deliver to their home. These care packages can include lash care items, hair and body care, etc.
-Sell gift cards at a discounted rate, such as buy a $100 gift card for $75.
-Teach lash and brow classes online.
Buy the manuals here and email them to your students.
Buy the lash kits here and ship to them to your students or have them pick them up at your salon.
-Sell lash remover to clients and make a video showing them how to remove their lashes at home on their own or having someone else do it.
Is your business doing something else not mentioned here to get through this time? We would love to hear and share it with the community. :) Please email email@example.com