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SummaryWAFILMS is a production company located at 526 Beale Street in Memphis that has experienced at least 1 25% drop in revenue as a result of COVID-19. Closure has displaced 10 Independent Contractors. The company had 5 contracts cancel in March totaling $131,000 loss of revenue.-Applicant is using savings to pay business expenses.
Stabilization and Recovery Plan:
• Applicant’s immediate plan is to re-tool workflows and methods for existing clients by offering virtual on-line experiences for product launches
• They will implement new marketing strategy to include leasing studio space to companies/entrepreneurs in need of workspace
NEED Grant funds will be used for rent, utilities, and software needed for new virtual product launch offerings.
Projected Total Jobs: