Has your pet sitting, dog walking, dog training, pet grooming or dog daycare been affected by COVID-19?

I’ve received a lot of requests from my pet business coaching clients who live in the United States with questions about how they can best navigate the unemployment and/or forgivable loan process.

Please note that though I’ve been a pet business coach since 2000 (for 20 years now), I am not a certified financial planner/advisor, a financial analyst, or an economist, CPA, lawyer or accountant. I am a pet business coach who has done some research to understand what this act means to businesses.

Below, you’ll find a quick overview of how the benefits of the CARES Act may apply to your pet business. I am sharing a few key highlights and links in this post specifically related to how you might choose to deal with short-term cash flow.

Please note: I highly recommend that you connect with your financial advisor to review all the options available to you and to determine the right decision for your pet business needs.

What does the CARES Act provide for service-based pet businesses and solopreneurs?

Here is a quick overview:

1. Money for Americans Now

Here is a quick overview of several of the key components:
This provision will deliver a check of $1,200 per individual and $500 per child. All Americans including those with no income are eligible. If you are a high-income earner, the amount of your direct deposit or check reduces following a complicated formula.

The reduction begins at:
$75,000 for individuals

$112,500 for head of household

$150,000 for married couples

Here’s the bottom line: This rebate gradually drops to zero for incomes exceeding $99,000 per year for individuals, $146,500 for the head of household filers, and $198,000 for joint filers.

2. Unemployment for Independent Contractors

If you are an independent contractor or self-employed, you qualify for unemployment under this act. To apply for unemployment, you’ll want to search for the Employment Development Department in your particular state. For example, if you live and work in California, you’ll want to apply for California unemployment here.

3. Loans Available for Small Business Owners

Two Different Types of Loans Are Available

The CARES Act has provisions for two different types of loans: a Paycheck Protection Program with Loan Forgiveness and Economy Injury Disaster Loans. Below is a description of each of these loans, followed by a checklist of what to do to apply for either.

Loan Type #1: Payroll Protection Program with Loan Forgiveness for Small Businesses

The CARES Act includes a new Paycheck Protection Program that may forgive part of your loan.

You can access low-interest federal disaster loans if your business has suffered economic harm as a result of the coronavirus.
Key things to know:

• You can access a forgivable loan at an amount equal to 2.5 times average monthly payments of payroll, mortgage payments, rent, and other specific debt over the last one year period (up to $10 million).
• You can use the loan for payroll support (including paid sick or medical leave and independent contractors), employee salaries, mortgage payments, insurance premiums, and interest on any other debt incurred before February 15, 2020.
• The interest rate is .5%.

Does the COVID-19 Forgivable Disaster Loan Apply to My Pet Business?

You can potentially qualify for a loan if:

• You own a small business, any business concern, a non-profit, or veteran organization with fewer than 500 employees.
• You are a sole proprietor, independent contractor, or self-employed (with some limitations).

You can use these loans for certain fixed debts, payroll, accounts payable, and additional bills that you are unable to pay because of COVID-19’s impact.
The loan terms will extend up to 10 years.

What Portions of the COVID-19 Forgivable Disaster Loan May Be Forgiven?

You will be eligible for loan forgiveness equal to the amount you spend during the 8-week period after you originate the loan.
The items that qualify for forgiveness include:

• Payroll costs (up to 8 weeks of average payroll).
• ​Interest payment on any mortgage incurred after February 15, 2020.
• ​Payment of any rent on any lease in force prior to February 15, 2020.
• ​Payment on any utility for which service began before February 15, 2020.

Essentially, what you spend on these items may be forgiven and you will not be required to pay that portion of the loan back.
Again, check with your financial advisor for clarity on the best option for your specific business and economic circumstances. There are many factors that will determine which is the better option for you.
Here are some other important items to be aware of to help you determine which portion of the loan may be forgiven:

• Amounts forgiven may not exceed the principal amount of your loan.
• ​Your eligible payroll costs do not include compensation to any employee above $100,000 in wages.
• ​If you reduce your number of employees, the amount forgiven will be reduced proportionally.
• ​If you reduce the compensation of employees, the amount forgiven will also be reduced.

Lending criteria:Lender shall only consider your application if you were in operation 3/1/2020 and paid salaries and payroll taxes to employees.
Payment deferral: Payments can be deferred up to one year.
To apply: You will be able to apply online through banks that service SBA loans
Be wary of sharing financial information on sites or through emails soliciting you. You can apply directly on your bank website after applications open (contact your bank to determine that application date).

Loan Type #2: Economic Injury Disaster Loan

These loans are available to small businesses with less than 500 employees. Processing time is expected to be 14 to 20 days.

You may be eligible for 4 times average monthly payments of payroll, mortgage payments, rent, and other debt over the last one year period up to $10 million dollars.

The interest rate is 3.75% with terms up to 30 years.

You can use this to fund payroll, sick leave, medical or family leave, health insurance, mortgage payments, rent, utilities, and any other debt incurred before the loan.

Payments can be deferred up to one year.

As part of the Economic Injury Disaster Loan Program, there is an opportunity to receive a $10,000 grant to fund business expenses. These grants can be issued quickly.

5 Steps to Apply for Economic Injury Disaster Loan

If your business has been impacted by COVID-19, these steps will help guide you through accessing funds to support your business in the coming months.

STEP 1: Go to the SBA Website.

You can access the site here: https://covid19relief.sba.gov/

STEP 2: Verify Eligibility.

You will certify that you qualify and are not engaged in certain disqualifying activities.

STEP 3: Provide Business Information.

• Your legal and trade names of your business.
• ​Your federal EIN number of Social Security number.
• Gross revenue and cost of goods sold for the 12 months leading up to January 31, 2020.
• ​The date your business was founded.
• ​The number of employees.

STEP 4: Provide Owner Information.

• Percentage of business ownership.
• ​Home address
• Phone number
• ​Social Security number
• Date and place of birth
• ​Citizenship status

You can find more information on the US Chamber of Commerce site. There is also the option to apply for a $10,000 grant.

Remember to be patient for answers and loan approval – all sources of funding are experiencing a high volume of traffic. I wish you all the best.

We will get through this, together. Hang in in there!

About the Author:

Kristin Morrison started her pet sitting and dog walking company in the mid-90s and it grew to become one of the largest pet care companies in California. Kristin hired over 250 people in the course of running her business for 18 years and when she sold the business, she had 35 dog walkers and pet sitters and 4 managers on staff.

Kristin is the founder of Six-Figure Pet Sitting Academy™ and Six-Figure Pet Business Academy™ which provides coaching, webinars and business products to pet sitters, dog walkers, dog trainers, and pet groomers across the United States, Canada, the UK and Australia.

Kristin is also the host of the Prosperous Pet Business podcast which is found on iTunes, Spotify, Stitcher or wherever you listen to podcasts. You can also listen to it on the Prosperous Pet Business website.

Kristin is the author of five books: Six-Figure Pet Sitting, 30 Days to Start and Grow Your Pet Sitting and Dog Walking Business, The Hiring Handbook for Pet Sitters and Dog Walkers, Prosperous Pet Business and Six-Figure Pet Business. Her books are available in paperback on Amazon. The eBooks and audiobooks are on her website at: www.SixFigurePetBusinessAcademy.com

Social Media:

Facebook: https://www.facebook.com/SixFigurePetBusinessAcademy/

Join the Prosperous Pet Business Community Facebook Group: https://www.facebook.com/groups/prosperouspetbusiness/

Instagram: https://www.instagram.com/petbizcoach/

Twitter: https://twitter.com/petbizcoach

LinkedIn: https://www.linkedin.com/in/SixFigurePetSitting

Podcast:

Prosperous Pet Business Podcast: https://prosperouspetbusiness.com/pet-business-podcast/

Hi pet business owners,

Whew.

It’s been a very intense time in the world with COVID-19 and I know it’s been a challenging time for you pet business owners.

To help you through this time, I’ve made a list of COVID-19 pet business resources for both emotional support and financial support.

Last week I created a poll in my Prosperous Pet Business Facebook group to see if my organizing a Pet Business Support / Co-Working Online Group would be helpful to you and many of you responded YES:

So, I’ve got a Pet Business Support / Co-Working Online Group date for you on the calendar now. The date is Thursday, March 26 at 11am Pacific / 2pm Eastern and we’ll be meeting by Zoom video.

I’ve purposely made the price very low so all who need support at this time can get it. However, if you can’t afford the low price, please email me so we can discuss it. No one will be turned away from this group for lack of funds.

Here’s the email I wrote to my newsletter list to describe what you can expect from the Pet Business Support / Co-Working Online Group.

Sending you a big (virtual) hug.

We will get through this, together.

Has your business slowed down – or even come to a sudden halt? Are you feeling paralyzed by fear or panic or finding yourself consumed by the sheer suddenness and strangeness of all of this?

If so, I wish I could give you a hug right now. But there’s that social distancing thing, so even if I could, I wouldn’t because I want to protect you, me and everyone we all come in contact with.

However, it’s my hope that what I have to share here will provide some comfort to you during this time and maybe even feel like a hug from me (or perhaps even a coaching session).

I went through a time that feels somewhat similar to what we’re all going through now. I want to share what I did during that time that really helped me and my pet business so that you can learn some positive actions to take in your pet business.

What Happened To My Pet Business After September 11

What’s happening now to pet businesses feels similar to what happened to many pet businesses after 9/11. Those of us who had a business then were all in shock by the immediate shut down of business (very similar to what’s happening now). Business just… stopped.

Truth be told, I didn’t know if my pet business would survive what happened after 9/11. People stopped traveling. Pet owners stopped having their dogs walked. Everything related to pet care immediately came to a grinding halt. I wasn’t prepared for it, as you might not be for what’s happening now.

That Was Not an Easy Time, Just Like This is Not an Easy Time.

Before 9/11 my business was booming. But in one single day, the business phone stopped ringing, the email stopped pinging. On top of the fear of economic insecurity, I didn’t know what to do with myself now that I had all this time. I felt paralyzed with fear, which is what you may be feeling right now. (If you are, give yourself a whole lot of slack.) After the paralysis wore off, I realized that I needed to get proactive and use my time in positive ways, ways that would positively move my business forward.

Below are some business and personal actions I took during the 9/11 business slow down that helped me mentally and emotionally in addition to helping me be ready to hit the ground running when my business came back to life.

Here are some business and personal actions you can do now if your business is slow:

• Create a list of business and personal tasks you’ve been putting on the back burner and take action on them. These tasks included tax prep, office and home organizing, throwing out expired food and spices in my pantry and refrigerator, plus other to do items that had been on my main list for many weeks or even months. It felt incredible to have these tasks behind me and helped me channel nervous energy in positive ways.

• Contact your friends and family and asked them how you can help. Helping others is a sure-fire way to get out of my head and into my heart. It’s a powerful antidote to fear. Here’s a support email you can use as a template.

• Stay up-to-date on what’s happening but limit your exposure to the news. I noticed when I watched or read a lot of news related to the disaster, it was like eating McDonald’s. In the moment it felt good but quickly it lead to me not feeling awful. In fact, after watching and reading a lot of news after 9/11 as well as with all the current coronavirus coverage I felt depressed, helpless and scared. This unhealthy behavior of wanting more and more information doesn’t create a stable, solid place within from which to make important decisions. Remember, the media is designed to create a hunger for more information and that hunger will rarely be satisfied unless we put a stop to it. Ingesting a vast amount of information can often ignite the fear part of our brain that often reacts by wanting more information, which then creates more fear. You get the picture. And if you’ve been reading or watching the news lately, you really get the picture. Stay informed but do limit your watching or reading the news. Giving yourself a media time limit will be your best line of defense against the free-floating fear or anxiety that you may be currently experiencing.

• Get pet business administration software (or change software services if yours isn’t the right fit for you). Now is the perfect time to get software or switch software systems! When 9/11 happened, I had known that I needed to get my business set up on a software system but I’d been dragging my feet about it. Up until then, the business had often felt too busy to make the switch from my archaic system to a modern way of running the business. However, I used the slow down after 9/11 to sign up for a software system and took the time to learn it, the way I would a new language (which for many of us, a new software often is). If you need a software system or don’t like your current system, now is the time to explore something new! I’m happy to personally set you up with a 30-minute software demo with the founder of the software system that I absolutely love (and that hundreds of my coaching clients love too!) Email me to get a 30-minute software demo.

• Update your client and staff forms, contracts, and employee handbook. This was something I’d put off for years because there always seemed to be something more pressing to put my attention on. If you are using the same contracts or client forms that you had since you started your business, they are probably past due for a revamp. Now is a great time to make the changes, or to start fresh with brand new forms that will ramp up your professionalism. Here’s a limited-time discount link on forms, contracts, and employee handbook, etc.

• Look at all of your business and personal expenses and contact all service or product providers to see about lower-priced options. This included my cell phone provider, all of my business advertisers and even my landlord. It felt humbling to ask for lower priced services but I put on my big girl pants and did it anyway. Calling my landlord to ask for a reduction in rent was the hardest call for me to make, and yet I did it. Thankfully my landlord said yes. In fact even better than saying yes, she asked me how much I could afford to pay in rent. I asked for a $200 reduction in rent and she agreed, though she did ask me to raise it back to the current rate when I was able to pay that again. A few months later, I called her again, this time to let her know I could start paying the regular rate again.

• Learn business skills with the intention to become highly-effective and proficient in order to run your pet business in a powerful way. I am a voracious reader and spent part of the slow time reading books on small business management, hiring and advertising. This enabled me to be better prepared when my business began getting busy again. There are 65 episodes currently available for listening and learning from the Prosperous Pet Business podcast. I also have online courses and webinars that you can attend including tomorrow’s March 17 webinar called How to Hire a Pet Business Manager. Visit the Webinars and Online Workshop page to learn business skills.

We will get through this. Together.
~Kristin Morrison

About the Author:

Kristin Morrison started her pet sitting and dog walking company in the mid-90s and it grew to become one of the largest pet care companies in California. Kristin hired over 250 people in the course of running her business for 18 years and when she sold the business, she had 35 dog walkers and pet sitters and 4 managers on staff.

Kristin is the founder of Six-Figure Pet Sitting Academy™ and Six-Figure Pet Business Academy™ which provides coaching, webinars and business products to pet sitters, dog walkers, dog trainers, and pet groomers across the United States, Canada, the UK and Australia.

Kristin is also the host of the Prosperous Pet Business podcast which is found on iTunes, Spotify, Stitcher or wherever you listen to podcasts. You can also listen to it on the Prosperous Pet Business website.

Kristin is the author of five books: Six-Figure Pet Sitting, 30 Days to Start and Grow Your Pet Sitting and Dog Walking Business, The Hiring Handbook for Pet Sitters and Dog Walkers, Prosperous Pet Business and Six-Figure Pet Business. Her books are available in paperback on Amazon. The eBooks and audiobooks are on her website at: www.SixFigurePetBusinessAcademy.com

Social Media:

Facebook: https://www.facebook.com/SixFigurePetBusinessAcademy/

Join the Prosperous Pet Business Community Facebook Group: https://www.facebook.com/groups/prosperouspetbusiness/

Instagram: https://www.instagram.com/petbizcoach/

Twitter: https://twitter.com/petbizcoach

LinkedIn: https://www.linkedin.com/in/SixFigurePetSitting

Podcast:

Prosperous Pet Business Podcast: https://prosperouspetbusiness.com/pet-business-podcast/

You’d have to be living under a rock to not have heard about the coronavirus…

The fear is widespread and many pet business owners are experiencing the effects of that fear when their clients suddenly cancel travel plans or mid-day dog walk clients working from home.

My husband was planning on speaking at a business conference last week. However, the conference got cancelled just two days before the start date. His company was hosting the conference and they were concerned about a large amount of people being together in one room and possibly getting each other infected with the virus. The company was willing to forgo hundreds of thousands of dollars in non-refundable fees already paid to the hotel and catering service (plus many other conference-related non-refundable fees) rather than put the conference attendees, including my husband, at risk.

A large company like my husband’s can withstand that kind of sudden financial loss but most small businesses, including many pet businesses, can’t survive sudden financial losses without adequate preparation.

So, how can pet business owners prepare themselves and their business for a possible sudden loss of business?

• Starting today, set aside as much money as possible in your savings account on a regular, weekly basis. You may need to draw upon your savings if some or all of your dog walking clients decide to work from home, pet sitting clients suddenly cancel their trips, or dog training clients feel uncomfortable having someone (you) in their home or going to your facility.

• Review your client cancellation policy and decide now how lenient you’ll be if a client cancel is coronavirus-related. I was at my hair salon this week and their 24-hour non-negotiable cancellation policy is very clearly articulated on their voicemail as well as clearly displayed on a placard on their counter. However, I noticed this week they now have a sign on their counter which reads: “We’d prefer that you be well when you come to our salon. If you need to cancel last minute due to being ill, no problem. Please just give us a call. We’d rather have you cancel than come in sick.” In the same way that my normally very strict salon is being more lenient with customers cancelling last minute, you too may need to be lenient with your clients. When I had my pet business, I had a very clear cancellation policy and I had no qualms about enforcing it because a last-minute cancel impacted both my profit margin and my staff who had set aside their valuable time to care for that client. However, I also had a “compassion policy”. What this means is that if a client or pet was suddenly ill, had a death in the family or other “act of God” event that was out of their control, I did not charge them, even if they called two minutes before we were due to arrive. This “compassion policy” created goodwill between me and my clients and generated many referrals from my clients. Being kind is a good business practice.

• Figure out an emergency plan with your clients now – before you both need it. What if one of your pet sitting clients is away on business and comes down with the coronavirus and needs to be quarantined? You don’t necessarily need to discuss that scenario with clients (it’s a bit of a downer to say the least) but discussing a plan if your traveling client gets delayed will help you both prepare for the worst, should it happen. And an emergency can happen even if not the coronavirus so this a good conversation to have with all your clients, and every time you take a new client on from here on out. Ask questions like: if they get delayed on their trip, do they have local friends or relatives who can take over pet care? If you, as the pet sitter has availability are they willing to pay for service beyond the original return date? (And are you willing to give them a discount if they ask for one given a possible hardship due to an unexpected delay in returning?)

• Decide upon an emergency plan for you and your business now – before you need it. What if you come down with a cold, flu or the dreaded coronavirus? Who will care for your clients if you are unable to care for them? Have conversations with local pet care providers to see how/when/if you can cover for each other should you need each other. Ask your staff if they can work extra hours in case you, or another pet care service need their additional help. Have contracts and pay rates in place for additional work hours and/or working for another pet care company (i.e., that the referral pet care company will not “take” your clients long-term should you need them to take your clients in the short-term due to illness or some other emergency).

• Wash your hands after anything that another human has touched. Take care of yourself (and your pet business) by washing your hands a lot and especially after opening or closing doors, petting animals and touching leashes or bowls.

About the Author:

Kristin Morrison started her pet sitting and dog walking company in the mid-90s and it grew to become one of the largest pet care companies in California. Kristin hired over 250 people in the course of running her business for 18 years and when she sold the business, she had 35 dog walkers and pet sitters and 4 managers on staff.

Kristin is the founder of Six-Figure Pet Sitting Academy™ and Six-Figure Pet Business Academy™ which provides coaching, webinars and business products to pet sitters, dog walkers, dog trainers, and pet groomers across the United States, Canada, the UK and Australia.

Kristin is also the host of the Prosperous Pet Business podcast which is found on iTunes, Spotify, Stitcher or wherever you listen to podcasts. You can also listen to it on the Prosperous Pet Business website.

Kristin is the author of five books: Six-Figure Pet Sitting, 30 Days to Start and Grow Your Pet Sitting and Dog Walking Business, The Hiring Handbook for Pet Sitters and Dog Walkers, Prosperous Pet Business and Six-Figure Pet Business. Her books are available in paperback on Amazon. The eBooks and audiobooks are on her website at: www.SixFigurePetBusinessAcademy.com

Social Media:

Facebook: https://www.facebook.com/SixFigurePetBusinessAcademy/

Instagram: https://www.instagram.com/petbizcoach/

Twitter: https://twitter.com/petbizcoach

LinkedIn: https://www.linkedin.com/in/SixFigurePetSitting

Podcast:

Prosperous Pet Business Podcast: https://prosperouspetbusiness.com/pet-business-podcast/

Have you sent me your picture yet?! The 8th Annual (wow!) Book + Pet Photo Contest is now underway!

The Photo Contest Rules are Simple:

1. Take a picture of your pet (or a client’s pet) with one or more of my books.
2. Post it on Instagram or Facebook and TAG me (I’m on Instagram at @petbizcoach and on Facebook under Kristin Morrison or Six-Figure Pet Business Academy)
3. Also, email it to: thrive@SFPBacademy.com to make sure I see your entry!
4. Only one photo entry per person.

You can take a picture of your pet with the Kindle or paperback version of one or more of my books. Or, if you have the Audible audiobook, you can snap a pic with your pet and the Audible book!

The Photo Contest Prizes Prizes:
First Place Prize:

• One 50-minute private pet business coaching session with me
• $300 worth of pet business products (your choice of products up to $300 value)
• Two live 75-minute webinars

Second Place Prize:

• $150 worth of pet business products (your choice of products up to $150 value)
• Two live 75-minute webinars

Third Place Prize:

• Two live 75-minute webinars

Every time I run the photo contest, I get a lot of pet business owners who message me saying, “I’m so excited that the photo contest is happening; I’m going to submit my photo!” but then time goes by and they have forgotten to take a photo and the contest ends without their photo entry (sniff sniff).

So… I encourage you to snap that photo SOON (maybe even today?) and send it off to me. You can even click “reply” to this email and attach your photo now if you like.

I look forward to receiving your photo entry!

Are you thinking about starting a pet sitting, dog walking, dog training, pet grooming or dog daycare business? 

Or… have you had your pet business for years and you’re not making the kind of money you’d like to be making in your business?

Even though the June 2020 Challenge has pet sitting and dog walking in the name, it’s really for ANY pet business owner who wants to start, grow and take their business to the next level.

Whether you’re just starting out or want to give your pet business a powerful boost, this 30-day online course will deliver the tools and insights you need.

If you want to take your pet business goals from dream to reality in just 30 days, come join me and pet business owners from around the world. The Challenge starts June 1, 2020!

Click now to sign up for the 30-Day Pet Sitting and Dog Walking Business Challenge!