Update on Investment

We are freezing operations at the Beloit store. We have to in order to save the investment. We have notified the manager. We contact the landlords at both locations and told them the situation. They said they would look at a proposal to give us a rent relief program for a 90 day turn around. This is good because it gives us more time to sell the location or reopen it, whichever is best for the investment.

We received a check back from the region for around $7,000 for a reimbursement for advertising paid. We worked with the GM to target the Pt Loomis store turn around. She is very close to that location. We reduced the payroll expenses and have instructed her to do this even further. We worked through a more in depth historical analysis of the Pt Loomis store, its response to marketing, payroll, traffic count, and more. We feel this is the best choice of the two locations to work on. They had a retention rate of customers of 70% and had far more total customers than Beloit.

The managers have been collecting photos for the social media campaigns we are putting together. I have been meeting the the marketing managers for several social media marketing and SEO companies to design the new marketing strategy at a higher price. Meeting with them again tomorrow. They really liked the idea and felt they could do extremely low cost and effective marketing because of how we were doing it, it education events for customers. The marketing strategy we are working on has been tested in other markets and was successful so we got a lot of good information on how others have implemented it in the past. The new turn around consultant starts on Monday so we will share the marketing plan with her and get her feedback.

We worked out many of the operational questions with organizing the events today while meeting with your team. I explained I will be coming there to help implement.

We are requesting royalty relief from the franchisor. They have requested a repayment plan which we are working on.

The new financial controller started today and is working on your file.

Our project manager worked with your GM to set up WeChat and showed her how to do video. I asked her to have a video sent. She thought she was setting up a video call, but I confirmed the clip was needed. She is communicating that tomorrow.

She also sent you copies of many bills for the stores. She sent access information as well so you can see the accounts.

I should have the marketing plan and the new proforma by Tuesday as planned. I am also creating the scripts for the staff, a video series on messaging to the clients and the new message for the business overall.

That's the update. We will keep you posted.

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