Coronavirus Is Here, Now What?
Is coronavirus worse than the flu? At this point it doesn't matter, the panic and fear is real.
Governments are taking this seriously.
Coronavirus is going to affect all retail but game stores are a unique business model and are very focused on face to face interaction. So what do local game store owners need to be concerned with over the coming weeks and months?
- Health Concerns
- Do you have a plan in place for what happens when your team gets sick? What about you?
- What are you doing to reduce the spread of disease? Hand sanitizer
- Economic Concerns
- Supply chain issues, China manufacturing is reduced. Shipping is delayed as countries go into lockdown. What can you do to prevent issues with restocking? Will likely affect board games more than other products as majority is manufactured overseas, can you refocus product lines to others that won't be as affected?
- Do you have enough of basic items like toilet paper! to last a prolonged shortage?
- Do you have enough set aside to float the business if sales are reduced for the next 6 months?
- Dealing with quarantines, reduced foot traffic, low to zero event attendance, reduced sales.
- Insurance isn't going to cover this.
Recommendations
- Personal, have food/water/basic supplies on hand. Prepare to self isolate if necessary, at least a few weeks worth. Wash your hands, avoid touching your face. You will likely be infected or someone you know so be prepared to be knocked out for a while.
- Put a plan in place if you can't work for up to a month. Does your manager know how to order or take care of other admin tasks? Do you have a chain of command in place? In the extreme case, what happens to your business if you die?
- Speak to your distributors and suppliers. Ask them if there any items they expect to see shortages of, consider stocking up now if necessary.
- Be proactive, not reactive. Speak to your staff about ways to reduce the spread of the disease. Put up guidelines for customers as well. Avoid touching each other's cards or game pieces as much as possible, wash your hands often.
