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Why is COVID so hard on small businesses?

Let me tell you what it meant for the Epoch Chemistry Coffee Company.

In Atlantic Canada, Covid reared its ugly head again this week.

Because of the important rules around family bubbles and physical distancing we went from 61 tasters to 26.

We lost over 50% of our revenue.

We also lost future revenue.

10% of our tasters sign up for our subscription. This is critical because it brings consistent and predicament volume.

And we book 3-4 future tastings per 20 tasters.

Our fixed expenses – labour, rent, etc… did not go down. We still need to support Conor and Pierre with a basic level of income.

We were fortunate that most rebooked.

But a small business lives off of total gross margin dollars/week. A day is perishable.

The compounding impact is high.

The rollercoaster we’re on is challenging. The volatility is exhausting.

We’re present on social media and our email campaigns are focused on our home delivery options. We’re trying to strike that balance between being present and not being annoying.

This virus is a bastard.

It is little wonder that more than 1/3 of business owners are looking to exit.

We’re in this together.

And we can emerge stronger and more connected.

But it will take effort and empathy from everyone.

  • TYPE

    Article

  • SOURCE

    LinkedIn

  • DATE

    November 27, 2020