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.
Reach out to The Fitness CPA as always if you have questions – you can get in touch with us here.
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.
- Employee Retention Credit 101: A Complete ERC Guide for Tennis Clubs & Racquetball Clubs - March 11, 2024
- What is a Deemed Election and How Does it Affect Your Employee Retention Credit Refund? - August 15, 2023
- Paying Workers: Employees vs. Contractors for Gyms & Fitness Businesses? - March 28, 2023
Pingback: How-to Preserve Cash Flow... Or What's Left Of It - The Fitness CPA