We have been greatly affected by the recent Coronvirus crisis. As we struggle to maintain our businesses amidst the chaos, our President has dedicated $50 billion from the $2 trillion CARES ACT just for small business owners. 

After reading the CARES bill from Congress and speaking to my CPA and bankers, this is my perspective, only. You will, of course, want to talk to your financial advisor. But ultimately, your banker will be the one interpreting the rules from the SBA about the potential forgiveness and plan.

If you have a small business and you are in need of assistance, this loan which can turn into a grant is one heck of a deal.
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For the full bill, read it here.

​Here are some tips if you’re considering a partner:

1. Once you decide on your delivery partners, do try to negotiate the commission they receive per order. Since we have multiple stores, we had more bargaining power. You can retain negotiating power by stretching out your meetings and duration of the contract negotiations.

2. Some platforms reimburse you for customer refunds on complaints and canceled orders, others do not.

3. Also, you’ll have to decide whether you will allow them to offer ‘Pickup’ of your menu on their app, in addition to delivery services. Since we already have a great on-line ordering takeout business, we opted out of the ‘Pickup’ option.

4. Since we started our partnerships with Postmates and UberEats, it has added 10%+ our bottom line and allowed us to tap into their pool of customers. Postmates has been the clear winner in our state. I think it’s because of the money they are spending on advertising in the right venues which I’ve witnessed firsthand.
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I hope this sheds some light into the process for you and helps you make a decision. Also, if you don’t like that any of these 3rd party platforms are displaying your menu on their websites, you can send a Cease and Desist letter to them and they’ll take it down.

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