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SummaryGoner Records is a record store located at 2152 Young Avanue in Memphis that has experienced at least a 25% drop in revenue as a result of COVID-19. The physical store closed on March 16 and this makes up 75% of total sales.-All 2020 record releases put on hold.-Partners (pressing plant, distributor and most retail shops) are closed.
• Stabilization and Recovery Plan:
Reduced operating expenses and shifted all available resources to online sales
• While distributor is closed, selling direct to customers
• Reduced hours but maintained staff of five employees
• Approved for SBA PPP
NEED Grant funds will supplement key budget items (payroll, marketing, inventory and production) and will help prevent cancellation of 2020 projects.
Projected Total Jobs: