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The Rio Beauty Spa
Summary
The Rio Beauty Spa is a hair stylist and beauty spa located at 3541 Riverdale in Memphis that has experienced at least a 25% drop in revenue as a result of COVID-19. The company was forced to close in late March. 8 employees laid off. Rent and other fixed costs remain due with no revenue coming in.Stabilization and Recovery Plan:
• Making plans to rebuild clientele
• Planning to adhere to health and safety protocols for this industry
• Employees are returning mid-May
NEED Grant funds will be used supplement fixed costs totaling $4,200 per month (excluding payroll and supplies).
Financing Amount:
$5,000
Projected Total Jobs:
Not applicable
Total Investment:
Not applicable