Granted, there are many arguments, pro and con, about "Re-Opening the Economy." And in a number of communities in the U.S. and elsewhere, some re-opening of stores and restaurants is occurring.
When/if you can re-open your store(s)...
- Do you have proprietary, exclusive merchandise?
- Is your website and social media effective now?
- Will you have a competitive edge?
- Will there be "vigor" around your store(s)?
- Are you truly a destination retailer? Or do you rely on others' traffic?
- How loyal is your customer base? And how large is it?
- Does your staff have a personal following?
- Will your customers be confident enough to resume buying from you?
- Can you personally fund the losses?
- How much and for how long?
- Is debt available? If so, how will you repay it?
- Leases and other contractual obligations?
- Have you thoroughly considered Chapter 7?
- Will your staff have confidence in the safeguards you are providing in your stores?
- Do you have the appropriate technology to manage more online sales, in-store pickup, etc?
- What is the potential liability exposure, if any, if customers or staff become infected by the virus?
- Does your store radiate cleanliness and safety?
AND, OUR MAIN QUESTION
(IF THOSE ABOVE DIDN'T STUMP YOU)
Can you honestly say "Yes!" to all three of these questions about re-opening?
- Do you have the Capacity to re-open?
- Do you have the Appetite to re-open?
- And most important, do you still have the Stomach to re-open in these times?!
Yes to all three? Then GO FOR IT!!! We admire you more than ever!