Strategies and resources to help spas and estheticians during an economic crisis
Let’s face it: we had no idea of the extent or impact that COVID would have on our industry and the economy as a whole. However, many of us have experienced shutdowns in the past. Whether it be hurricanes, snowstorms, tornados, or any other variety of environmental catastrophe, an extended closure has always been a very real possibility. But now that we understand what these can do to our businesses, it is time to create a plan, so you aren’t caught unprepared in the future.
Any emergency financial contingency plan should be specific to your business. Your team is made up of talented and unique individuals, each with their challenges and commitments. A generic “one size fits all” plan will not work. Take the time to take a good hard look at your practice’s finances. Talk to your employees about any planned changes and try to get their input. Do your due diligence to address their concerns and identify any unique hardships they may face. Most importantly, keep the lines of communication open throughout the planning and execution phases.
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