How Tour Operators Can Lower Monthly Business Expenses During COVID-19

Fixed Office Expenses

1. Office coffee subscription.
2. Copier/Xerox maintenance and/or lease.
3. Office lunches, client lunches.
4. Office space lease. Do you want to stay a remote company?
5. Office cleaning. Call your office cleaners and cancel their service.
6. Office supplies. Cut them all.
7. Consider canceling your internet connection.
8. Turn your office HVAC to 78 degrees.
9. What other office equipment do you rent?

Variable Business Expenses

1. Don't order more customer swag.
2. Reduce/cut marketing budgets.
3. Freeze any purchasing budgets by employees.

Employee Benefits

1. Gym memberships.
2. Consider shifting money into more usable benefits. Consider purchasing a subscription of Headspace or Freshbenies for employees.

Possible Contracts to Renegotiate

1. Office lease, download an example letter.
2. Office internet connection, how to do it.
3. Credit card rates, how to do it.
4. Company cell phones, how to do it.
5. Employee insurance

There are great articles on "How to Lower Your Monthly Bills" and "How to Negotiate Rent."

If your business has suffered a "financial hardship," consider applying for the Economic Injury Disaster Loan Emergency Advance, which is a loan through the SBA.

Ugh, last resort.

Laying off employees might be your last resort. Here are a few things you can do before laying off staff. Be sure to investigate your state's Office of Economic Opportunity or Department of Labor websites for more information on specific state programs. There are also federal and state loans and grants available for this situation.

Do these before layoffs:

• Reduce employee hours.
• Ask for a reduction of wages.
• Eliminate overtime.
• Reduce your personal salary.
• Talk to your banker about the Payroll Protection Program (P3) in the CARES Act.