Reply To: If it is mandatory for salons to close do you still charge booth renters?
BTC STYLIST FORUM › Salon Owner Coronavirus Discussion › If it is mandatory for salons to close do you still charge booth renters? › Reply To: If it is mandatory for salons to close do you still charge booth renters?
We are a hybrid salon of 37 individual salon suites and an 8 chair blow out bar. We occupy 10,000 ft² and our monthly expenses are about $50,000. When we reached out to our landlords we were told that we are fully expected to pay our rent on time. They suggested we look into a small business loan or the other government assistance that seems to be changing daily. I would like to believe it that the government will swoop in and save us but I think most of us know that we cannot rely on that! My wife and I have put our entire life savings and enormous amount of debt to make her childhood dream come true, and we were on our way to being successful until this virus was introduced. We have closed our blow out bar and left it to the individual suite renters whether they would like to work or not. If we are forced to completely close our doors and are expected to pay all of our expenses we will not recover financially and 50 people will be unemployed.
With absolutely no precedent to follow this is what we decided to do.
We offer 2 free weeks of rent per year to all of our suite renters so we are allowing them to take it all now if they choose. We are also allowing up to a 4 week rent abatement for those who have to quarantine or choose not to take the risk. Those that are taking the risk are following a very strict sanitation process. As salon owners we are expecting almost a complete halt in revenue but the SBA loan should carry us for at least a month or 2 assuming we are approved.
I would love to hear what other salon suite owners are doing as we want to ensure the safety of everyone but we also want a place for everyone to come back to when this is all over.