Gym Owners and Coronavirus Closures
Our gym, our business, our livelihood, and our dream is now closed due to the Coronavirus. For the first time as business owners, we have zero control of our business. We are mandated to close down, with no actual timetable presented to us for when we can reopen. The uncertainty of our future is left hanging in the balance, and the stress of staying afloat is high.
What should we be doing during the Coronavirus Closures?
We as business owners and gym owners must focus on what we can control and fulfil our duties to those who rely on us. In my eyes this is simple if we focus on three things that we can control.
Support your staff
Our business’ are only as good as those who provide the product and those who have dedicated themselves to our gym. Now is not the time to kick them aside. Now is the time to support them, and make sure they are taken care of during a rough time for all.
Provide for your community
As a business owner, your customer should always be your top focus, and that is never more true than in a time like this. They have been locked out of a place they call home and love. Do your due diligence to provide for them and make sure they are taken care of.
Just because your brick and mortar building is closed does not mean that you cannot still provide a high quality service to them. Challenge yourself and your team to elevate your business and make this a positive experience for your community.
How to better prepare for the future after the Coronavirus
We are all going to come to a crossroads in a month or two. Some of us will rise above and be propelled to higher levels, while others of us may never open our doors again.
As owners we should be using this time to forecast our cash flow for the next 180 days. Do both a conservative projection and also a realistic forecast. This is not a, “When I have time” task. Without cash flow you do not reopen, so it is a “DO NOW” task!
No one knows what is to come, and no one knows what our business will look like in the months ahead. It is your duty as a business owner to position yourself and your community so you are relevant and able to thrive when life returns to normal.