I own a hair salon. Typically, November is my busiest season. It has been SO quiet. A lot of my colleagues are also saying the same thing and have had to close up shop because of it - or get a second job.
People keep saying it will get better and the economy will bounce back but I don’t know. I am so close from just throwing in the towel, closing up shop and getting a corporate gig.
So, I have a client who has owned a small furniture and bed retailer on the poor side of a Southern college town. For fifteen years he has averaged the following GROSS sales cycle:
$40,000 a month January through May;
$20,000 a month June-August;
$40,000 a month Sept - Oct; and,
$60,000 a month Nov. - Dec.
This year he was high $30k low $40 k till May, below $15k in the summer, and . . .
$8,000 in gross sales in September
$6,000 in gross sales in October.
He is freaking out as he borrowed $50k to expand inventory in the Spring for better deals and can’t get rid of it, with the financing due early next year.