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Classy Styles
Summary
Classy Styles is a full service salon located at 2552 Poplar Avenue is Memphis that has experienced at least a 25% drop in revenue as a result of COVID-19. The business closed for two and a half months due to the COVID-19 pandemic. Three independent contractors were left without the ability to earn an income. Only one returned after the shop’s reopening. Supplies were on back order until late July.Stabilization and Recovery Plan:
• Landlord allowed a payment arrangement for the remainder of the year
• Providing PPE and mandatory temperature checks
• Exploring new ways to re-invent her business
• Received a $9,889infusion from PPP
NEED Grant funds will be used for salaries, rent and restocking PPE.
Financing Amount:
$5,000
Projected Total Jobs:
Not applicable
Total Investment:
Not applicable