The beginning of the year started with much delight for Martin Lance and his apparel shop for his clothing brand. He had stable revenue before covid hit. Martin was beginning to get ready for certain calendar events that would bolster his sales. We had spoken with Martin after the pandemic had reached its peak of devastation, and thats when his business was affected, he was gracious enough to tell us his experience.
In the beginning we understood that the pandemic was happening but the severity of what was happening was never precedent, we asked Martin "when the death toll cases rose what was your initial response for you and your business?” his reply “ The action we decided was to have sales, as much as we could afford to stay afloat.” He continued to tell us how once the realization came in that the lockdowns were heading to more than two weeks, I became desperate to not lose my investment." Which we agree is everyone’s main worry.
We then asked what alternatives did you create or come up with to manage the store from your home? Mr. Lance stated "It is scary to imagine all the plans I had projected for this year now gone, and that I mainly work from home and have to focus on my brand part-time" is what he told us. His frustration towards losing his store front is reasonable although it seems he was able to find work as an essential worker he is in deep regret that he must begin from scratch.
Mr.Lance had told us that he began moving his store online to use more social media and e-commerce, just as he did before when he started. The use of social media has given him more publicity and grow which surprised him as he told us “When the world was normal my social media was average, and now that everyone is stuck at home, I have reached the demographic I was looking for. My business is moving slowly but its moving.” Just another example of how entrepreneurs and business are finding alternative ways to transcend through the pandemic.
Our final Question that we asked Martin was to explain how he felt when you knew his store was going to shutdown potentially. Martin Stated “That he had spoken with his bank in regards to his payment options, and that the bank was able to extend the length of his loan easying the burden he had to face.” Although the Pandemic has caused thousands of businesses around the country to close down for good. We stand with the community and we thank Martin for sharing his story and we hope to hear from you as well.
Due to the Corona Virus Pandemic banks from all around have created solutions to help support thier clients and their loans. The creative solutions that have sprung in the industry are giving postive signs towards the future.
