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Inails
Summary
Inails is a nail salon located at 3593 Riverdale Road in Memphis that has experienced at least a 25% drop in revenue as a result of COVID-19. The salon was forced to close for 2.5 months due to the pandemic. The owner is paying financial obligations from savings. Upon reopening, none of his stylists wanted to return.Stabilization and Recovery Plan:
• Increase marketing and paid for ads through social media and commercials
• Calling all previous clients to let them know the shop has reopened
• Practicing social distancing and providing PPE to all customers
• Received a $2,600infusion from PPP, $5,000 from TN Business Relief Fund and $1,000 from EIDL
NEED Grant funds will be used for rent, utilities, salaries, and restocking PPE.
Financing Amount:
$5,000
Projected Total Jobs:
Not applicable
Total Investment:
Not applicable