My Top 5 Covid-19 Small Biz Ideas & Resources
Here is a list of a few of my favorite recommendations, ideas, resources to help small businesses in dealing with challenges instigated by the Covid-19 virus and it’s implied, unexpected studio closure requirement. I highly recommend you spend some time each week being active in your greater online business community, whether it’s through MINDBODY One (for MB Biz Customers Only), Facebook Groups (So many!), Boutique Fitness Soutions, or your own business friends and connections. It has kept me motivated, given me great ideas, and helps me realize that this really is turning into a great opportunity for us to redirect our work energies in a great way.
Sample Landlord Rent Abatement Request
I love this template of a Sample Landlord Rent Abatement Request from Studio Owner, Jennifer Pahl over at Twist Yoga in Lake Oswego, Oregon. She originally posted to the MINDBODY One social network but I think it’s useful for so many I thought I’d share here. Jennifer also posted about a sample letter to members that I liked, you can also find that in MINDBODY One.
“A quick mentoring note for you – in times like this it is expected and ordinary practice to ask your landlord for a rent abatement. You can write a letter that looks something like this –
“Dear Landlord
,As you know, the social distancing measures going into place in Oregon are having a devastating impact on all retail businesses. In Seattle, over 50 restaurants have already gone out of business or announced long term closings. I have been paying rent on time to you for X years and Y months, and I plan to continue to do so until the end of my lease, and hopefully into a new lease after this one!So I am coming to you to request a rent abatement to help me with getting through this dark time. I have already paid my rent for March, despite sales having dropped XX%. If Seattle is our guide, I expect a 90% drop in April. Will you please allow me to not pay rent in April, and instead to add another month to the back end of my lease? This will enable me to conserve cash and avoid going out of business due to this severe, yet temporary situation.
Thank you,
-Name”
Obviously suit it to fit your unique circumstances.
Know that –This is normal. Your landlord will not be surprised, upset, or scared to receive this. Many of your peers are writing similar letters and getting reduced or canceled rent. This is a smart business decision. This is a temporary crisis, and you are not responsible for it, there is no reason you alone should carry the financial burden it imposes on you.
Landlords, in general, have the capacity to weather situations like this in a way that tenants do not. And the worst thing for a landlord is a tenant who goes bust in the middle of a pandemic, because they know it will take a *long time* to re-rent your space when this is done.”
Thanks for the great insights, Jennifer!
What Can You Offer Members
This is from Brendan Lentz, a Studio Consultant & Leader from Phoenix, Arizona who helps studios manage day-to-day operations and technical challenges. This was also originally posted in MINDBODY One.
“What can you offer members to help retain them right now? Here's a quick list of possibilities. What else are you seeing out there or using yourself?
✅ Continued access to their favorite teachers
✅ Community connection - join online classes up to 15 minutes early to connect with others before class starts - just like in the in-studio experience
✅ Guest passes. Members can still invite guests to online classes
✅ Family members can join in from the same location
✅ Access to recorded content as you accumulate it (record your live classes)
✅ Virtual community - if you haven't done so, now is the time to setup a virtual community. Checkout Mighty Networks, Slack or FB groups.
✅ Special Members Only Events - Offer a weekly special workshop, meditation, class, or anything unique that gives people something extra for staying with you
✅ Add a free month onto the end of their contract
✅ Peace of mind knowing they are helping a small business and it's staff to re-open it's physical location when this is over”
Thanks Brendan for the great inspiration!
MINDBODY Education Blog
I really liked this detailed MB Blog Post, What To Do About Memberships During the Covid-19 Crisis. Remember, you have options - let memberships be, give members a proactive choice, and/or offer a discount for online offerings. They have several others that you might find useful including articles specific to spas, how to rent out your fitness equipment, and video recommendations.
Boutique Fitness Soutions Covid-19 Playbook
Boutique Fitness Solutions released a 50+ page Covid-19 Playbook with articles from several different studio owners and industry leaders that can be downloaded from their website. They did this in lieu of their one day conference that was originally planned for NYC this March/April. I love the variety of input and perspectives in this playbook. One of my favorite tips came from Lise Kuecker, Owner of Studio Grow. She mentioned, “Sell a LIMITED number of awesome presales packages for when you reopen.” I thought this could be a really great, unique way to get some cash flow. What I also love about it is that it’s in PDF format, so you can e-mail it to your own e-reader, if you are a book-aholic like me.
Thanks to everyone out there turning those lemons into lemonade as we navigate a challenging time that is already making us better and stronger. I’d love to hear your favorite ideas or resources if you feel compelled to share!