Running a small business is tough enough. Then came coronavirus.
Craft breweries across the country have had to shift gears faster than ever before as the pandemic has evolved, non-essential businesses have had to close, and states like California have issued stay-at-home orders.
And shift gears they have.
Taprooms have stopped pouring pints, and amped up their crowler, growler, and other to-go sales.
Breweries are banding together to split shipments of supplies.
Beer festivals have even gone digital, and morphed into a fundraising effort to help support craft beer professionals who are unemployed due to the pandemic.
What else is there to do? Here’s a few suggestions:
Take a look at your insurance coverage.
It’s unlikely you’ll find relief there if you’ve had to close your doors due to the pandemic (virus is not a covered peril under most business interruption policies), there may be important information about your workers’ comp policy, for instance, that you should be up on. Questions? Your insurance agent is your go-to expert.
Take a look at the books.
Are there places where you can trim a little fat now, to try to speed recovery later? Are there peaks in your financial past that could inspire an additional revenue stream now?
Find out what assistance is available.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act advanced through Congress and was signed into law on March 27. Among its many provisions, the $2 trillion bill includes significant relief for small businesses impacted by this unprecedented crisis, including the 7(a) Paycheck Protection Program, providing loans of up to $10 million to small businesses impacted by the crisis, and loan forgiveness provisions to help small businesses with expenses related to payroll, mortgage/rent and utilities.
Undertake a spring cleaning regimen unlike any other.
Take this opportunity to deep clean the brewery and all the equipment. And while you’re at it, establish sterilization regiments for areas that are most frequently used in the brewery right now: the office, the cash wrap, door handles, the bathroom, etc.
Plan for the future.
Brainstorm new brews. Overhaul your marketing. Review and update your business plan.
This pandemic will come to an end, but other emergency situations may arise. Use this time to get your brewery through this challenge, and ensure that it can weather those that come up in the future.
For more than 25 years, Beall Financial and Insurance Services, Inc., has been helping corporations and individuals protect their most important assets. The agency’s client base covers a spectrum of niche businesses, such as craft breweries, that require specialized insurance packages and knowledge. With California offices in Redlands and Newport Beach, Beall Financial and Insurance Services serves clients nationwide.