A wedding party is indeed one of the most joyous and happy moment in a person’s life. But unfortunately due to the pandemic everyone’s life has come to a stop. While initially, the businesses suffered a great loss because everything was put on a stop with the world being under lockdown, things are now gradually improving.
On the other hand, we cannot ignore the fact that businesses, especially small and medium-sized businesses, have suffered a lot due to the pandemic. Amidst all this, the party bus rental, yacht, and limousine providers have suffered the most due to the pandemic. Because of the social distancing guidelines, many people were barred from going to the beach or even partying. This, however, had a huge impact on businesses.
Spring, last year wasn’t as happy for these service providers as it is now. Although things are returning back to normal a bit, the increasing number of cases, however, seems to hinder the movement. The Coronavirus pandemic and lockdown has had a massive impact on their services as most people are opting for cancellations, and there are laid-off drivers. This is, however, preventing or leaving people with no source of income. Data has shown that companies that used to earn more than $250,000 per wedding season have hardly managed to earn $3000 this season.
What is the impact?
Due to the increasing cases, no customer wants to travel to the party buses, considering many people have already been there. As stated, things are opening up. Still, there is hardly any ray of hope for businesses like these. Transport, hotel and tourism industry was severely impacted by the Coronavirus pandemic. But they were the only ones in everyone’s talks and not small businesses.
Many small business owners complain that no one talked about their pain. They were never the focus or even highlighted, for that matter. According to the small business party bus service owners, both leisure and corporate events are “dead”. Even today, not everyone is willing to travel, which is very intimidating. Even after a year, the new normal is the only normal.
The limousine and party bus service providers usually cater to the needs of high-end clients, VIPs, celebrities and dignitaries. In today’s time, none of the celebrities is travelling. The airline transfers have suffered a huge loss too. There are no significant revenues. Several drivers have been laid off, and hence, the number of vehicles has reduced too.
Most of these businesses are focusing on ensuring better travel, but it isn’t bearing any positive results.
“The coronavirus pandemic has had a huge negative impact on the revenue of small businesses. Many of them have been laid off from their work, but they have to maintain the high-end vehicles. The lack of revenue and increasing charge of maintenance has only had a negative impact.” Says a Yacht business owner who deals with used yacht sales in NJ.
However, ground transportation on the global scale sees massive changes, with hotels and airlines suffering the most. Nonetheless, these businesses are still managing to move forward with the pandemic. According to business owners, everyone needs to come to the forefront to tackle the impact of businesses.
Most of these high-end vehicle small business owners are in debt because of the rising cost. Although banks provide them with an extension, it is anticipated that the extensions would disappear. The government, however, should introduce protection programs that will help them in the long run.
Small business owners should work on implementing small changes in their business. The Coronavirus pandemic has already had a massive impact on business, and these companies should try to get in touch with their old clients. Even small conversions can be extremely helpful for businesses. Moreover, coming in of service providers like Uber, these businesses are suffering more.