What we have heard
As Bailey Routzong talks with school owners across the U.S. each day the most frequent term mentioned by these owners is the “uncertainty” about what is going to happen next. …so much so that we believe if you have been fortunate enough to avoid the Covid-19, the next leading villain in terms of negative effects on school owners during this nightmare is the stress resulting from that uncertainty. As in any part of our life, stress is the great morale and energy killer. And for many owners, their energy to keep fighting against all of the business operating challenges of this period has been understandably depleted.
In one way we have typically thought about risks in the school business as some type of single incident occurring in a school, or some kind of significant downturn in the economy. Well, this pandemic has rolled all these risks into one giant ball and pounded us with it.
The second phrase we hear often now is a plaintive “why didn’t I listen and take action when Bailey Routzong recommended last year that it was a sensible time to exit because the market was great for owner/sellers?” Of course all of us sometime in our past have failed to take action when an opportunity was at hand, but only realized it after the fact. But that’s water under the bridge now and Bailey Routzong chooses to look only forward.
Now the good news
The GOOD NEWS is that we have fully recovered in our business, and are furiously working away in helping our clients recover as well, because we have developed a successful system for making it possible for those clients to reclaim almost all of their pre-Covid business and real estate values from 2018-19 levels. Our clients have another opportunity to take action, and many of them are at this moment!
What’s coming up next
The next blog will address the many go-forward challenges to school owners as a result of the on-going pandemic and recent national events. Anytime dramatic changes occur in an industry, many new opportunities are created as well for those who have the foresight and energy to change their business to capture those opportunities.