UPDATE: Fitness Business COVID-19 Reputation Management and Ethical Concerns

coronavirus financial advice

Recommendation for Closure: Fitness Business COVID-19 Reputation Management and Ethical Concerns

 

March 17, 2020

Please share with your fellow business owners.

Based on CDC social distancing guidelines, we are recommending that all fitness facilities temporarily close.

The damage of closing for one week or one month can be traumatic for most businesses who live on cash flow week-to-week, similar to many individuals. For many businesses across the nation, it will be challenging to recover at all.

But if a non-essential business, your business, is the disease vector for COVID-19, it would certainly mean irreparable damage to your reputation that would result in bankruptcy and negligence lawsuits long after the virus passes through our communities.

So for those who can’t or won’t close for just one week and then intelligently reassess each week after, I ask,

“Is staying open this coming week worth the financial and ethical risk of your business being known as a virus vector and the cause of someone dying?”

Don’t let your business be patient 31.

coronavirus fitness industry advice
Click for Source

 

 

Reach out to The Fitness CPA as always if you have questions – you can get in touch with us here.

Eric Killian

CPA & Founder | Accountant, husband, father, mountaineer.
Fitness is such a big part of who I am. Maintaining a healthy lifestyle, eating well (mostly paleo), hiking, backpacking, mountaineering, practicing yoga and Crossfit are all important cornerstones of life. But I love ice cream and cookies too much to say no!
I love helping owners make sense of their business and finding ways to grow it. It’s an honor to help you see situations, scenarios and opportunities from all sides so you can make informed decisions.

Get the best fitness accounting know how delivered right into your inbox

  • This field is for validation purposes and should be left unchanged.

One thought on “UPDATE: Fitness Business COVID-19 Reputation Management and Ethical Concerns

  1. Pingback: How-to Preserve Cash Flow... Or What's Left Of It - The Fitness CPA

Leave a Reply

Your email address will not be published. Required fields are marked *