Should I trade out of a recession, given my business is only 4 months old?
My car wash business has eight sites. Some are profitable, some are break-even, and two are unprofitable but growing. But in the past two months, the recession hit and sales have halved. I want to renegotiate the rent but don't know how. Each week we focus on sales-driving initiatives, but they all cost money (fliers, etc). We will struggle to pay wages and rent next month. Should I get out now, have a go to trade out until Christmas or what? If I stay in business, what should I do to survive a recession?
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