Citizens' Right to Speak
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My name is Shannon Fedrizzi and I am a small business owner in Wheat Ridge. My business, Phenix Salon Suites opened in February 2015 which houses over 20 other small businesses. These businesses are in the service industry including salon professionals offering services for hair, skin, nails, tattooing and more. These are essential businesses we all rely daily to keep us looking and feeling good. We were shut down on March 19th and my tenants are unable to generate any income in the meantime. My tenants cannot be worrying about how to pay their rent while they are shut down because they are worrying about how to feed their families and pay their bills.
What this means for me is that if my tenants are unable to generate income, I am unable to generate income. At this point, my landlord has said that I can reduce my rent for April but then continue to pay as usual. My franchisor has grudgingly offered 1 month of royalty relief at this point. The big guys all want to get paid and it is us little guys that will suffer the most. If my business closes, the city will not lose 1 business but 20+ other businesses.
Something that many do not realize is that when you lease a commercial space as a tenant you are responsible for all the costs associated with the building. For example, 1/3 of my rental payments goes to pay for all the fees associated with the building. Including but not limited to all common area maintenance for the building, utilities for the building, insurance for the building, management fees, property taxes for the building and more. This means, the owner of the building passes all costs onto us, the little businesses. Whatever the city can do to alleviate costs to us as small business owners leasing commercial spaces that are vital to the city's economy will benefit us all.
In the past the SBA has not recognized my business model as one that qualifies for any SBA assistance. Hopefully, that has changed and I will qualify for some type of assistance under the CARES Act which will be needed once we are able to open back up. My tenants will need time to ramp their businesses back up and get back to working full time. Many of my tenants may not be able to continue to run a business due to loss of clients, lack of funds to pay rent and expenses or illness. I expect to lose some tenants which will put me further behind in my bills. At the start of 2020, I had a great outlook for my business and expected to have a profitable year. At this time, I may be lucky to break even at the end of the year. It will take time for all businesses to get back to our new normal.
My business is comprised of the smallest of small business that we all rely on and we will take the big hit from this pandemic. Possible needs include, relief on license fees, taxes and penalties. Funds to pay necessary expenses to continue to run a business and provide services, or possible grants for small business. Your hairstylist or barber, your nail tech, your esthetician, your personal service provider that makes you feel good needs help so they can continue to serve you in the future.
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