Baby boomers are the second largest population of small business or franchise owners and make up 41% of small business or franchise owners. 10,000 of us turn 65 every day. Before COVID-19, most ran profitable businesses. In our DNA is an entrepreneurial spirit, a sorely needed attribute these days.
Boomer owners are also fiercely independent and none of us like to be told how to run our business. Larger competitors are defining new rules for customer service; reduced operating hours, contactless delivery/pickup and limiting customer counts instore. There’s new safety measures for employees and a visible emphasis on sanitation instore. Who knows how the 6 foot rule will work but the new standard is customer safety and a renewed confidence in your brand.
Reopening successfully may have as much risk as staying closed, whether or not you have our governor’s say-so or SBA funding. Opening will mean lower revenues initially and increased operating costs as customer expectations are met by larger competitors. Operating costs will rise to comply with customer and employee safety. Taxes and insurance costs certainly rise sooner or later.
No one knows how long this crisis will last, but It is time to start thinking about the new normal. Your customers are visiting your websites to see if they can do business online and whether or not you have changed your messaging to embrace to the new normal.
Neither you nor the governor are in charge, your customer is. Time to adapt and overcome.