How to Make Business Recovery for Your Indoor Playground?
What Happened to Us?
The COVID-19 outbreak has impacted, and continues to impact, indoor playground businesses in different ways, ranging from minimal to existential threats. Global efforts to contain the outbreak through mobility restrictions caused drastic shifts in consumer demand and the COVID-19 outbreak has impacted, and continues to impact, indoor playground businesses in different ways, ranging from minimal to existential threats. Global efforts to contain the outbreak through mobility restrictions caused drastic shifts in consumer demand and behavior.
What Is Going On?
For now, as we all know, all governments are easing restrictions in stages and therefore businesses will recover at varied paces based on geography and industry. For example, British Prime Minister Boris Johnson announced that from July 4, pubs, restaurants and hairdressers, among others, will be able to reopen, providing they adhere to COVID-19 prevention guidelines. And the indoor playground place will be allowed to open in next stage around end of July. Obviously, it is a positive sign for both of us.
What We Should Do?
Let us analyze how to make business recovery for your indoor playground from the following perspective:
Finances
When it comes to finances, it is a realistic issue. You may have to determine your financial position and health. Before you can begin planning for business recovery, you first need to determine your financial position. To do this, make sure your financial statements are up to date.
You may need to pay many outgoings before you can restart. You will need to assess how to fund these outgoings and whether you can afford it.
There may be a significant period before you can restart the indoor playground and therefore you may have to rely on existing cash reserves until that time.
The indoor playground business is a unique industry, because it is indoor, so the government may pay special attention to this industry and put more pressure on this.
Cash Flow
To support business cash flow during COVID-19, governments, and some financial institutions allowed moratoriums or deferral on payments of taxes, levies, insurance premiums and other payments for a certain period. Creditors and landlords may have also agreed to extended payment terms or deferred some rental payments. Generally speaking, an indoor playground always takes up a large floor space, which means the rent will not low. It would be helpful if there was any support from the government, financial institutions, and landlords. So if you have taken up this type of relief, then you should list those commitments and include them in your cash flow forecasts for the recovery.
Strategy
A good strategy will help you to get through the tough times after the crisis caused by COVID-19.
1.Explore options for the business to change its business model
It’s time to review your indoor playground business model and long-term goals. Before answering that question, consider whether: your strength, weakness, opportunities; your current customer base;
2.What do you want your business to be like after COVID-19?
That is important, someone is radical, and someone is conservative when they are considering the business.
3.Update budgets for the new plan
Someone manages the indoor playground well; they always have a new plan for expanding their indoor playground business. Now is the critical moment to consider and update budgets for the new plan;
4.Build lessons learned from the crisis into your business
Reflect on the business lessons you learned from the COVID-19 crisis. Some examples include:
Do you need to invest more into building good and trusting relationships with your customers, suppliers, employees and other parties in your business’s ecosystem?
It can offer some cost-saving opportunities, so how can it be improved for you and staff?
As discussed above, an indoor playground always takes up a large floor space. If you have enough funds, is it better to buy instead of renting a place?
Staff
Many businesses talk about establishing relationships with their clients, but the truth is, valuing staff and building a great relationship with them is of the same absolute importance. An indoor playground requires a lot of staff for guiding, teaching, and keeping the clients (players) safe. In the same way, please also ensure the safety of your staff. You can buy insurance for COVID-19, and prepare medical masks, and instant hand sanitizer, etc.
In addition, it is time to re-evaluate your staff arrangements to match your new business.
Client
Evaluate how your local indoor playground market has changed and consider how it may change further. Here are some examples to help you to do the evaluation:
1.Are your clients recovering?
2.Are your competitors recovering?
3.Is your industry recovering? Your industry association may have some information.
4.Re-evaluate the demands of your client to adjust your business accordingly.
5.Ensure the safety of your client. It is very important. You can make an appointment system to control the quantity of clients for a period of time. And measure the temperature for all the clients.
Supplier
A responsible and professional supplier can help you to reduce supply chain risks. It is no exaggeration to say, we are a leading company in the field of customized indoor playgrounds, having free-design, manufactures, shipping and installation with one-stop service. In the past few years, more than 350 projects have been done by us around the world. Our clients’ satisfaction reaches 99%. During the crisis of COVID-19, we listen to and learn the clients' needs, and provide appropriate assistance and information. Even more, we provided free medical masks and other medical supplies. Dreamland Playground always stands with the client any time.
You may talk to us. And let’s exchange views, ideas, and experiences in anti-epidemic or future indoor playground business. No matter what happens then, we must work together to tide over all difficulties.
