Financial Losses of Montgomery Retail Stores in Flooding
Quick Remediation Can Save Your Business
Retail locations lose money in a number of ways during a flood and its aftermath, and many business owners do not see some of these losses coming. Even light floods typically close doors for at least a few days, and can cost thousands in combined expenses. Heavier floods, of course, can have a much greater impact. When negotiating with insurers or computing your financial loss, be sure to include these factors into your calculations.
Immediate Inventory Loss and Repair Costs
The most obvious, and typically the most easily accounted for, loss that most stores take is in inventory loss and restoration costs. Businesses in Montgomery deal with commercial water removal, repainting, floor replacement, and merchandise loss in most cases, and these costs can add up quickly. Fortunately, an insurance company will usually take these expenses into account immediately and cover for them, and our teams can help with taking inventory and tracking costs incurred.
Customer Loss and Long-Term Profits
Although this is often much more difficult to track, loss of regular customers and brand identity may end up costing you more than the cost of repairs and merchandise. While your store is undergoing restoration, customers will be forced to find an alternative business, and may stay with that business even after you have reopened. This is one of the primary reasons why SERVPRO emphasizes a fast path to opening doors again.
Employee Losses and HR Expenses
Most employees will not want to wait more than a few weeks at most for you to reopen without pay, meaning that in some cases you might have to seek out replacements or pay employee salaries while no revenue is coming in. Either option will end up with financial loss, and possibly with problems in readjusting old employees or introducing new ones.
SERVPRO of Montgomery helps local businesses to reopen as quickly as possible and at low financial loss. Call us today for our fast responses and quality restoration services at (334) 284-1612.