Coronavirus - effects on business

[GraphicDisorder]

Sales hit the breaks yesterday. We will work till there is no work or until the government makes us not work.

[Doug B]

  Maybe a small candle in the dark universe, but I just starting free and unsolicited samples from some of our suppliers. free stuff doesn't translate to orders or $$$$ but it's free. Better than getting a bill.

[Nation03]

One of my larger contract customers asked if we're still open and if we want more work. I don't know how they're keeping so busy since they're literally on the NYC border but I'll take as much of their orders as they're willing to send my way. NJ is closing all businesses down by Saturday apparently but since I work alone I still plan on coming in as long as there are shirts to be printed.

[whitewater]

In one of their markets a bat bit a duck... and someone ate the duck.

[Maxie]

Ok so we're in crap.    Question is how to deal with it.       Watching the same TV news all day doesn't help.
I plan to:
Learn a lot more about Photoshop and Illustrator. ( I know Corel quite well)
Get fit.
Loose weight.
(also clean my carousels, stretch screens, sort out my Pantone colors, etc)
Sitting around getting depressed doesn't help.
Humour helps, this situation is too big to worry or deal with on a personal level.
"Don't worry, be happy"

[zanegun08]

If you have more than 4 employees look into the Work Sharing Program, or short-time compensation (STC).

Is an Unemployment Insurance program that allows an employer to reduce the number of hours an employee works during a week while ​unemployment compensation makes up some of the difference in income.

That way you can avoid a full layoff, and run a smaller production, and have your employees still get partial unemployment benefits.

[Nitrox73]

Ok so we're in crap.    Question is how to deal with it.       Watching the same TV news all day doesn't help.
I plan to:
Learn a lot more about Photoshop and Illustrator. ( I know Corel quite well)
Get fit.
Loose weight.
(also clean my carousels, stretch screens, sort out my Pantone colors, etc)
Sitting around getting depressed doesn't help.
Humour helps, this situation is too big to worry or deal with pn a personal level.
"Don't worry, be happy"

Those are great plans. It beats day drinking & getting fat which is what we are doing. I've already eaten all our quarantine snacks.

[blue moon]

If you have more than 4 employees look into the Work Sharing Program, or short-time compensation (STC).

Is an Unemployment Insurance program that allows an employer to reduce the number of hours an employee works during a week while ​unemployment compensation makes up some of the difference in income.

That way you can avoid a full layoff, and run a smaller production, and have your employees still get partial unemployment benefits.

forget about partial programs. Get the layoffs going now. We have ZERO orders for next week and I don't see us getting any for a month. Have the government pay those salaries or you will be going out of business! 'been there, done that twice already. . .

pierre

[blue moon]

don't want to get into it too deep, but I've faced similar situations (from the economic perspective) twice already.

SAVE ALL YOUR CASH! Stop paying everything you can get away with. And I don't mean spending, I mean stop paying your electric gas maybe even rent if you can do it. They will not kick you out right away. If two months from now you realize you are going out of business you will at least have the money to pay off the equipment and what ever is guarantied personally.

Anybody who thinks they are going to close this year with more than 50% of last years sales is smoking something. If we are lucky we will do 60% of last year in 2021. Can you survive if your production is cut in half? What are you going to do about it now before it's too late?

pierre

[Rockers]

ill bet 100 bucks that this virus has already been here in the united states making the rounds. Before the first person even tested positive. So really its really to late to start all of this crap.

Honestly, I think I might of had it from Thanksgiving until almost Christmas. Threw up Thanksgiving night, had a fever for about a week after that and then it turned into the worst cough I've ever had. I never go to the doctor but this was keeping me up at night so I finally got some cough syrup which knocked me out and eventually stopped coughing. My brother had the same thing and my Fiance. Could of just been a really bad flu (which apparently is what this is anyway). Doctor didn't test me for it because it wasn't really being publicized yet. My in-laws were also visiting from Italy around then so.....

The virus just made the jump from animal to human in China in the third week of November. I really doubt you had it.

You misspelled "escaped from a Chinese research facility."  Honestly, that is what the Chinese government is saying...and at this point anything they say is nothing but lies.  This is their fault.

Actually that were US scientists who said that. They can tell by the DNA sequence when the jump occurred.

[Rockers]

Ok so we're in crap.    Question is how to deal with it.       Watching the same TV news all day doesn't help.
I plan to:
Learn a lot more about Photoshop and Illustrator. ( I know Corel quite well)
Get fit.
Loose weight.
(also clean my carousels, stretch screens, sort out my Pantone colors, etc)
Sitting around getting depressed doesn't help.
Humour helps, this situation is too big to worry or deal with on a personal level.
"Don't worry, be happy"

I like your attitude. My wife is the same.

[Du Manchu]

I’ve been wrestling with all comments over the past 7 pages.  However, Blue Moon’s comment just hit me like a ton of bricks.  Looking forward, even just 6 months, how does one manage the overhead monster of a once thriving business, when revenue drops 90% overnight.   Setting aside the agonizing notion of laying off the best crew we’ve had.....If one were push back creditors/vendors payments, could one emerge on the backend even able to conduct business, as we all know it will take credit to dig back out of the hole.  Or will it be just so damn ugly that it’s the norm.   

Blue Moon is correct.  If one approaches it conservatively at the start (my inclination) and its way more ugly, you just burned a ton of cash in a matter of weeks. 

Just need someone to talk me off the ledge....or push me off it. (lol, not really)

[californiadreamin]

From the equipment side, even the largest companies can/will fall. No way around it!
Drastic measures are/will be implemented. The overhead,lease,loan payments will be cut and renegotiated.
Jobs will be cut. Time will tell if they survive. I totally agree with Blue Moon's take on the situation.
The CHINESE Virus is Deadly. The Economic Fallout Will Be Nothing That I Have Seen In My Life Time.
Take care of those close to you. All the Best!
Winston

[Nitrox73]

So this is the only place I can honestly say this and the readers will understand. I'm sick of hearing about the bars & restaurants losing business.

We went from an amazing 2019 (more than doubled our sales and looking at a new building) to the worst feeling that I've already had to let everyone go. In one week. We have exactly zero new orders. This will be worse than 2008, people aren't going to spend any money after the recovery.

I honestly thought our client base was diversified enough to weather any storm. No one could have predicted- no sports, no conventions, no group outings, no schools/school activities, no restaurants, no running events, and no summer camps.

Indiana's governor won't declare an economic emergency. And states can't access any of the $50B SBA funds until your state declares. I jokingly said we day drink, but the truth is... I day drink.

And can't sleep, obviously, thinking about all the work we put in to building our business only to watch it crumble.

[farmboygraphics]

I'm wondering how many of us that make it through this are going to rethink our pricing. I know I will. For years I've sold low, not to low ball, but because I honestly thought I was doing my best to give people a great price and live a modest life. Well, that's all going to come home to roost now. I know there's a few of us here that weathered 2008, but I have a strong feeling that this ain't gonna be that.