Do you think your business will have to change to thrive in New York going forward?
Will things be different when we open up the local economy again? What changes, if any, will you make to your business to adapt?
Comments (1-10)
If we do not have "rent control" for small businesses, mostly our local shops will close and never re-open. The rent for businesses was insanely high and the "mom and pop" shops couldn't absorb thousand percent rent hikes before the virus, but it will be impossible after this first round has calmed down. The real estate moguls have it such that an empty store is a tax write-off and they love that. We need new laws as without them the UWS will remain a ghost town for years, maybe decades, to come. CVS, Rite-Aid, Walgreen's, Starbuck's, banks, and Petco will all survive. The small shops that make the area livable will not make it. Very sad.
The only constant in life is change. If you do not need to change when change is necessary you will cease to exist. We will not go "back" to work, we are going to work a new way. EVERYONE had to change. One must study to show themselves approved to serve and be the best to help solve a problem. If you are looking to sell like a get over con type "taking attitude" you will lose. If you are not looking to "help folks" with your skill sets and services go do something else. Also, priorities or reordering of your life has changed. If you were forced to stay home you had to reckon with there is an Omnipotent, Omnipresent God, who comes first, Family is important, thus second then work, then community. Social distancing allows us now to socially distant from those who refuse to change and are all about self. My Real Estate Industry will also be more "selective" in the case of no more "just-looking" buyers, "'real open houses" in a structure, and sterile/clean processes. If folks are not realistic in their pricing - including government - then there will be no customers and thus, no viability be your proprietor, landlord, seller, service provider. Buyers will not be looking for unreasonable deals either unless they wish to be ignored. Give and it shall be given unto you. Thank God!
If I have to move, I like many have a large monthly rent, I will essentially be starting over. My clients are working with me online and I am very grateful. But a mat at home is very different from a reformer or a Cadillac, with springs and bars and all the other equipment accoutrements. How far out of the neighborhood will they travel?
Hi I'm running my dance studios on christopher street west village
probably the must implement way to run the studios is going to be social distance,classes must perform with less number of students as before,
a must sanitation rules, well lets hope to come back to work soon.
Hope all of you out there and you love ones are ok.
best
jorge
I own a bar, the whole premise of which is incompatible with social distancing. Even when they allow us to open (which won't happen any time soon), there's no feasible way to make enough to pay the bills if we're only allowed 50% occupancy, and fear may prevent people from coming out in any event. Taking temperatures at the door and enforcing the use of masks is also not conducive to a "party" atmosphere. Sooooo, unless they develop a vaccine quickly, and/or rigorous testing for antibodies (along with verifiable paperwork to confirm status), nightlife as we know it will be gone in the short term. The future is very uncertain.
Without a doubt, everything will be different. We are all different because of this Pandemic. We will have to basically learn to walk again. I believe that this evolution we are facing is a rebirth and cleansing of our world which will open up a whole new World, filled with promise and hope, only if we stay unified. That, in my opinion, is how we will flourish on all levels. While I am home, I am going back to the basics and revising my Business Plan, so that it coincides with the times. I think the biggest challenge will be overcoming the fear of human contact.
I have downsized and moved to a smaller space to save 20k a year in rent. The only classes I will teach are virtual. Lessons in studio are only privates duets and trios. I’ve opted to work alone, forgo employees and up the prices on all in studio lessons. It’s given me time to work on my rental properties and have less public interaction. I don’t need to grow the business. I need to stabilize it, pay off the back rent and enjoy life a bit. The new normal.
I'm a tour operator taking artists around the world to paint. That's not happening so I'm planning to do tours here in NYC as soon as we have some relaxation of the restrictions. I'm calling those tours 'social distancing' tours. They will be artists painting out of doors, but who know when. Until then I'm waiting for the SBA to come through.
The world of law will be overwhelmed for the near future. The amount of legal disputes regarding rent, contract enforcement, defense of mortgage defaults and the like will massively slow the already slow crawl of Justice to a near stand-still. This in turn will increase the costs of litigation and will massively influence the way new contracts are drafted. Adaptation will be to figure out how to resolve the mass of litigation practically and in a cost effectively manner. My concern is that the impact will translate into massive bankruptcy filings and similar distress in those courts. The impacts of these events will lead to substantial change and it is not entirely clear the changes will be welcome or easily digestible. I pray for the success and safety of New Yorkers in the months, perhaps years to come. It will not be easy and the road is going to be long.
While live events have been part of my biz for ever and a day, I shifted to virtual and digital many moons ago. Been working virtually, talking on the phone, collaborating globally from a distance for as long as I can remember. What will change, and has changed is my ability to recharge from the energy and vibe that is unique to my City. Just walking out and getting a boost from a passerby, some cool display from some indie shop, a stolen look from that stylish cat on the corner who’s name I will never know, but who’s face brings me joy. Will things be the same? Never. Different? Yes. Better? I hope. Am I taking this opportunity to expand and create opportunities that ultimately help others? Yes...a big fat clap at 7pm yes!
This is a shift for good if we embrace the change and fear not the unknown. Pivot. Share ideas. Connect. Collaborate and carry on.