 Hi, good afternoon everybody Tom Stewart here got my partner Liz Trotter. Hello Liz Hey, and we got our special guest our friend Matt Ricketts from Federal Life Mades, St. Louis, Missouri. Hey, man Thanks guys. Hey man appreciate you being here because we've got some Some pretty cool from pretty exciting things to talk about today The news came out last night that the Senate signed off and passed the PPP legislation Coming out of the house didn't really even have to send it back to the house. It's on the way To the White House to be signed. I don't know if it's actually been signed yet or not But I don't think that there's any concern that is not going to become law here within the next day or so Yeah, it would have it had to take like an act of God for a bill Directly written from the house to be passed in the Senate That's the probably the only time we're gonna ever see this in our lifetime that the Senate doesn't touch a bill That comes from the house because usually they're keen to put their own stamp on it. I was surprised by that that was That was unique So They just they just realized the time was running out I just think that they realized that the clock was running There's just so much other stuff going on right now that that anything that they did was probably Not gonna be a significant improvement So the PPP long was designed to give us give small business basically eight weeks worth of funds to Operate through through this disaster. I guess through this this whole whole deal now You're given an extra 16 weeks. So, you know, we were talking before we got on that at this point you We would almost have to try to mess this up Not to spend these monies in a way where they can't be forgiven Even if we haven't spent some of those monies correctly so far basically we can just start over because money is fun You can if you got if you had a hundred thousand dollars worth of PPP fund Pretend you're starting over a worst-case scenario. Most of us I don't think would have to do that to get whatever, you know ratios of You know people's, you know pay and the numbers and so on and so forth it's We should all Forgiving by the time we get done with that Yeah, and I just I always want to remind people is that even though you spent it all it still may not all be Forgivable, so you may need to actually spend some more of your own money and put it back in the pot anyway Specifically taxes federal taxes where you know where every week you're you're taking You know basically two slices probably three-quarters of that money is You know in a quarter is not so imagine at the end, you know I'll just use my numbers because I know them and I've done the math on it is we have about 261 to start with Well, we're gonna have spent 32,000 over the period on on federal taxes that are unforgivable You probably a fun jewel. I'm just gonna basically refund that 30 I'm gonna basically go through line by line figure out why what I've spent put it back into my PPP bank account and notate it that it was Tax funds and that gives me another payroll and a half to run with and then I'm gonna keep doing that as I spend the taxes until we basically zero Zero it out that there's nothing left that I don't have enough to run a payroll with and then I can use it to pay Rent for a couple more months or some other smaller some other smaller things So just remember that like like Tom was saying that it's fun But you do need to be aware that that the tax portion of every payroll is Not for you get according to the originals I have not read what they're doing with this new bill, but I didn't hear anything new about that So I'm gonna assume that the that the federal taxes are still not forgivable So you have to think about that and how you structure your your payrolls I Checking just before I got on and I haven't been able to find anything with a lot of a lot of the details yet And it's I mean this is almost so it's supposed to be signed by Trump and he's gonna sign it But I mean it's filibuster proof. I mean it had four hundred and seventeen to one in the In the house and and it passed by a voice vote in the Senate Which means that it had to have at least all but one senator supporting I think they're probably gonna have unanimous unanimous Senate approval So I don't know the exact number on that but usually a voice vote indicates that it's a pretty high approval Rating or a pretty high approval so a percentage So I don't know that it's even possible that it could could not be put into law at this point So let's think about this for a minute What would be the things that might happen or that we might not do that would? Cause it's not to to have all these funds forgiven. I guess we still have to get back to full employment, right? Yeah I think what we don't know is is if there's gonna be an Extension of these look back periods or how those are gonna change We've all basically been under the impression that we're gonna try and keep our employment up to Pre-covid levels up to June 30th But you know, we were talking before this was started and and I'm I'm labor constrained at this point like so I have 29 texts cleaning And then another new hire starting tomorrow. So 30 plus three on leave 33 I started with probably 39 before this started, but some of those dwindled off for their own reasons and things like that I mean, we're working hard to hire I know your whole last segment yesterday was was was hiring and you're gonna do more on hiring on Monday but I Think we're all probably gonna move the position at least for the meantime that people want our services back that We're in a good position The risk factors are you know shown to be lower and lower I want to just a brief thing that I you know Do you there were two big news stories that came out of Missouri? Missouri had the Lake of the Ozarks Big parties of Memorial Day weekend. Are you there? I wasn't there. I wasn't there I know you loaded up the family truck. Sure. You went somewhere You went camping you know a paperclip and a bottle cap to fix something We took the RV out and went camping but did not go to a big pool party at Lake of the Ozarks Lake of the Ozarks is a Little little while so it's Everywhere has their own little redneck river of the era like big party spot where everyone has big boats and you know shows You know, you know, whatever ever every place has that but um it Not my not my place. We it's it's gotten a little wild over the years, but the but anyway, so so they had one person that was infected they went to all these bars and Anyway, they've done contact tracing. There's been no new cases from that yet So maybe pool water is safe that might be that might be there's no knowing but it's amazing that no other infections came from They've got they've done contact tracing. There have been no cluster outbreaks from that then there was the two hairdressers are Stylist I think would probably the better term from great clips in Springfield, Missouri, which they they served about a hundred and sixty about eighty customers Each over a week period or something like that where they were both infected and did not infect a single person They were wearing masks the customers wearing masks So I mean, I'm not sure what to think of both of those things whether You know the masks helped or the pool water helped or what happened here But we kind of dodged the bullet with some of those with some mass infections And so it's getting people I think a little bit more confidence in some of the measures that we're taking are working We're not seeing any big major outbreaks Related to some of these normal getting back to life activities, which you know What's that what's there Matt is is that Contributory factor at all. I mean they're saying that in the summer. They're expecting, you know, everything to die down Is it hot there? It's it's warm here. I mean, it's you know, it's 90 degrees in the afternoon, you know, most days here Singles is awful, you know, it's cold in the winter hot in the summer. No no beaches anything like that We've got some rivers and lakes, but all my other singles friends will agree that most of us try and leave here in the summer so Anyway, yeah, we've been we've we've seen a decline in cases and You know, I think that's leading to some confidence in the economy People are wanting our services back back to the original topic hiring and things like that I'm seeing we're hiring people in July 1st being a number We're seeing here and it's gonna be different wherever you're at But child care is beyond an issue at this point So we're so a lot of these childcare places are opening back up in tears in the same-list region or in the Midwest And July 1st is kind of a line where we're seeing One of my managers is only available in the office a couple days a week and she's having to work from home with her with her son Because of child care, but she has child care July 1st I have a couple other people on the board that are coming back on the 15th And then and then a bunch of new hires that we're seeing our July 1st constrained Due to child care. So that's gonna be a big that's gonna be a big bottleneck for getting You know men and women back in the workforce, but that's gonna prop that's probably gonna primarily Be burdened by women. I don't know that the statistics on that But I would guess that's the case and and I would guess that a lot of our workforces are women men I think I have two males out of the 30 or so on my board. So we primarily have females. I think that's fairly common We do too primarily female So our ratio is a little bit higher than yours Matt, but definitely more more females than males Yeah, we're usually about 20% we lost two of them at the beginning of COVID So usually around well, I guess that's still would only be about 10% You know for normally closer to 40 tech. So yeah, maybe about maybe we usually have 10% of our staff being Maled but and you know at any given time, but I think that's gonna be a big bottleneck in in staffing and Getting getting good people back. I am seeing an uptick in applications I know Tom's saying that it's the last applications, but higher quality. We're starting to see an uptick and I Think people are starting to recognize that that that the clock is ticking on this extra unemployment I'm hopeful that that's at least that they're thinking out in the future. We're actually getting a lot of initial interest not but it's Really unengaging in the process Coming at the feeling that they're trying to just meet the minimum requirements to keep their unemployment going Okay, the ones who you can truly engage with who are really looking for work I mean, they're they're they're they're strong candidates and you know, they're We're really happy with the people we're hiring and we just can't hire enough of them right now Yeah, we were we were talking when we were starting that that labor is the big bottleneck for us Like you know, we're we're back up to maybe 70% of pre-covid revenue every day Maybe we could be up to 80 or 90% if I had a few more people We're you know in a normal month We do about 70 initial cleanings and we can only schedule like five right now So we're we're you know, 75% off our initial cleanings Right now just so we're not able to like even really get geared back up for the clients We're losing or have lost because we just work with strain We're just trying to take care of who we have and a few One-times Yeah, Lisa is saying the same thing lots of apps and surprisingly some good applicants. So No, maybe maybe the tide's gonna turn a little bit and we're gonna We're getting some good applicants. Maybe we're just gonna get more of them, which would be really really awesome I did yeah, so Here's a chance for you to throw it in Here's your chance right now because this really is an unprecedented event I want to apologize to everyone that's here because because we failed yesterday to Get the word unprecedented in the discussion. We threw it in the chat afterwards, but um I'm still still feel bad about that But it is an unprecedented time for hiring as well what we're seeing we just we don't know right what we're seeing is Is this what it is today? Is this what we're gonna see in a week? Is it? Everybody's seeing different things. How do we how are we hiring in this new environment? I can't imagine us not being in a really strong place here in a couple of months once the federal unemployment funds go away and there's talk about Bonuses for people who are unemployed who then get a job creating more incentive for people to go back to work A lot of jobs that aren't going to come back Almost anybody who studies this stuff is saying that we're going to be in double-digit employment Going into next year and It's going to be years and years before unemployment gets back down as low as it was Part of the way I'm struggling. I'm struggling with like the enthusiasm that is in the marketplace right now But what I think what really The truth is I think we're going to get back to a 90 percent kind of economy There's going to be some winners and losers in this kind of I kind of call it the 90 percent economy I think I think we were at like the 50 percent or 60 percent economy there when things were shut down We were down to like the bare essentials, you know manufacturing and you know, you know some other things We're we're even kind of slowed down. Maybe maybe we're below 50 percent But I think we'll get back to 90 percent where I think we're going to see a big decline Is the hospitality space? Travel tourism are all going to be down Although, you know with the rv you jumped about that. I can't get a spot hardly anywhere Anyone that has an rv is booking out their summer And there is a ton of rv sales because everyone's like, well, I don't want to go to a hotel My friend that's an rv salesman is like I've sold more expensive units like 250 to half a million dollar like super nice rvs Because I've never sold this many super units before like where it's like, you know Like they might sell like five of those a summer. They've already sold like five of those in may They sold their whole inventory like they're They're big ticket like, you know units Like right at the beginning there. So there's enthusiasm for the economy But there's but I think Like I said, there's that 10 percent are going to be left out and they're going to be looking at a new career When you're talking about economic growth and like gdp Yeah, maybe 10 percent might be more might be be less in terms of of the definition of value But you're right. It's hospitality. It's food service. It's travel It's retail it's Those it those segments of the market are the same segments that hire the same people that we hire So good news for us from uh from a labor standpoint Yeah, I feel like I feel like we're gonna start to really benefit in the in the When this $600 unemployment goes up or when the ppp funds start dwindling and companies start having to make Some tough calls. I mean, I have a lot of friends. Uh, there you go. Bring the dog out. She was like I know leslie's happy right now. She's on she's like finally brought mom I I've mentioned my friendship before and he's in the he's in the entertainment space He has a lot like light and sound and he has a big, you know, big company They, you know, have maybe a hundred employees and they do like, you know Big stage productions with light and sound and things like that He doesn't believe he's going to be back in business until 2021 so You know, what's that whole industry look like? I mean, how many people are just going to say, you know, I can't afford to continue to do this And what's come back mean? I mean No, come back at 20 30 percent 50. Yeah I mean he owns a lot of other businesses that he can probably subsidize some of this But yeah, I mean he's got like a lot of the equipment and things that are leveraged So I don't know. I mean, I don't know but I think those manufacturers are going to have to just Take that on the nose too. I mean, they're just there's Some of that is going to be, you know passed on um Yeah, I don't know. I don't see live events coming back for a while. I think like going to like the baseball games You know, a lot of those employees are great people like the guys that were, you know, work at the baseball game Let that like do that job year in and year out. I mean, they're enthusiastic. They're like great customer service They're good at sales. It's good. That's a great. I mean the guys that are like the vendors of the games Those are those would potentially be great employees. I mean, um You know, I don't know I think there's a ton of good people that are going to be on the sidelines when the ppp money runs out We always talk about the unemployment, but what we're not talking about is the ppp funds is artificially propping up um The unemployment numbers temporarily as well we're going to see another spike in unemployment over the next two to six weeks as The first round of ppp money Dwindles and then maybe another spike after that as the second The second I don't know about the second group the the average ppp loan in the secondary group was under $50,000 So those might be smaller businesses that are just weathering this. Who knows what's going to happen with with with those um, but I would argue when the money runs out. We're going to see big changes All right. So man, I have a question. What is your opinion on sort of we're talking a lot about You know supply and how we're going to be able to Of work. Well, what do you see in terms of demands? Uh, do you think that we're going to have the same numbers of people? I mean, there's a lot of people out of work. Are they going to be some of the people that would typically You know how how's that playing out? What do you think if I had to look at my main numbers? I would say god, it's going to be a bloodbath, but I mean it's come back so strong already in just this first week It's like a month Like there was like a line in the sand like may and then like june 1st it like everyone's like forgot about It's like this is over. We're done. We're moving on like june 1st it. We're moving on. Um And how that has to do with I mean, I I'm not going political here. So don't anybody jump on me Okay, but I'm just wondering how much of that Wow COVID's over thing is directly related to you know the unrest that we're seeing Is that going when that? Kind of mellows out or settles down. Don't get mad at me if I'm using wrong verbage y'all But as that starts to um shift Do you think that we're going to See a shift in concern about COVID again or what are you guys again? I don't know for sure. What I do know is we've been through this in st Louis for years like we you know, we had Six years ago. We had the michael brown unrest Then there was a police officer stockley who was Was let off on on murder charges for something similar and we had civil unrest for quite a while in st Louis This isn't the first time we've seen this here and it's honestly not Undeserved in our region. So we've seen it quite a bit. We've seen some change in progress here. Um, you know over the last six years um I love here on that map. It definitely hurts. It definitely hurts the economy whenever it does happen though people Um, you know, we're we're nine o'clock curfew here in st Louis right now like every night like you got to be in your door by nine o'clock You can't be hanging out at the park or you know, I live right across from park they don't even want us on like our porches or anything at night and um, you know last night there were some caravans that were driving through and um, I think that they were probably up to no good criminal activity Like they were like and from what I read in some more police reports afterwards Not exactly related to this but again, um, all of this stuff it creates it creates uncertainty Which definitely I would think would hurt sales, you know uncertainty in the marketplace. I think um, usually Hurts sales, but yeah, I'm not seeing it right now. It's not happening. So maybe the after effects of the covet or people are just They're they're fatigued of all of the event So they're just ready to get back a little bit most of the most of the medical minds seem to to Consent or agree that there's gonna be an uptick in the fall and The more cases there are through the summer Like when this thing started in like new york and in in in washington The initial cases were ceded from people coming either from europe the new york's case or or or I don't know west coast We're going to be self-seated going into the fall because there's already going to be people With the virus that are going to be floating around um To what degree I I don't know from an economy Going into this I was really afraid that it was going to look like 10 years ago Where you know, we lost a lot of business just because people couldn't afford us anymore. They were losing jobs But this time around because of technology because a lot of people are working from home You know right or wrong. I guess it's it's really unfortunate in a lot of regards But most of the people who are losing their jobs are in the service sector and For the most part they don't represent our client base anyway Most of our client base are still have jobs and they're still you know making money So I think that we'll be fighting Covid more in the fall than we will be people not being able to afford us not to say there's not going to be a lot of people Still looking for work and and having economic problems But I don't think that they're going to be part of our our market demographic to a large extent You know Ernie's bringing up a good point that I was mentioning earlier I was I was thinking the same thing, you know In the next 10 days, are we going to see Some fallout from all of the protests and these large groups of people and the large congregations What are we going to see? Are we going to see anything or I don't know going going into that a lot It's a lot of young people that they interact with their families and their parents and their grandparents So in st. Louis In the city of st. Louis just specifically 70 percent of our cases have been in in elder care facilities in the city of st. Louis And those are you know primarily in lower socioeconomic parts of the city And You know that the county is a different the county's different numbers. I don't know I don't know the county's numbers, but I imagine that potentially a lot of these people might be protesting might have service jobs that work And maybe work around some elderly people or whatever in the evening or do some things Potentially there is a chance for spread because of maybe the other work that they do That's that's a risk. I think for sure, you know Or you know just coming back to family members. We'll see I think we'll see what the numbers hold I feel like a lot what's baked in as far as people's comfort levels right now Is that The spread isn't isn't as bad right now for whatever reason is that we thought I you know brought those two anecdotal stories earlier um If there weren't more cases from those hair those hairstylists, I can't believe that a single person wasn't infected Uh The Ozark thing Doesn't really surprise me based upon a lot of the recent research that we've shared here over the last week or so that Being outside and having short-term, you know contact Most of the cases are for for people that were indoors that were exposed for a long period of time But the hairstylist that one was a bit weird you would have thought In a tight space and I know I don't know about where you are matt and st. Louis But like here in washington when they opened up a loud hairstylist they can only work every other station I don't We're still cutting our own hair at my house. So I don't I don't know for sure, but I do know Um, I do know that like a great clips is probably like on a 15 minute model of like of haircuts. It's pretty Yeah, but the people that work there are in there all day long Right. So and and there they are being exposed over and over again. Well, it doesn't It doesn't fear they exposed each other like one hairstylist exposed the other hairstylist. So like they were How many people work there? Maybe it's a question. Were there like 12 hairstylists or were there Maybe only two people work there. Yeah I think a great clips is typically like a three-man operation. It's pretty like usually pretty understaffed and and you know Underwhelming like they're doing that. They're doing the phones and the service They've actually gotten rid of the customer like service person that used to like check you in they have a kiosk now I you know, I haven't been to a great clips in a long time that I that was like quite a few years ago that they introduced a lot of that Um, so I imagine that that they probably had good social distancing in place Yeah, every great clips I've ever been in has ever been it's been pretty Underwhelmingly staffed usually pretty big high ceilings, you know, so a lot of air But we are great clips are our Maybe we're cheap. We don't care about how we look Like you guys do in st. Louis, but ours are usually have a lot of people working at our great clips here So never I was saying because people are a bit leery about going out and Exposing themselves. I don't know. Um, I imagine there's a ton of people that could use a haircut right now myself included so I've probably been as conservative as anybody in terms of trying to social distance and stay out of Public place because I'm going to have to break down to get a haircut here pretty soon I know a lot of people that That have gone in as soon as they opened and I know my hairstylist contacted me And told me hey, well, I'm opening this today. Let's get you on the books. I was like, yeah, please All right, sounds good. And most everybody I know Female humans that I know Already have an appointment to get their hair done and they've only been open for three days. So Um, I did see you guys that Debbie is talking about we had a person come to Tulsa for the protest And it's now testing positive for covid So I would love a little bit more info about that Debbie is You know, um, did they bring it with them? Did they catch it here? You know, if you have more info about that, that'll be awesome Yeah, um With with those people being outside It'll be interesting summertime. They're outside Um Some people wear a mask and people weren't I think it seems like masks really do Play a role of reducing the spread So One thing we're seeing in the areas is we do more tests We are getting more positives but but our but our hospitalizations and deaths per day are Are still declining at this time from So even though we're seeing more cases and I think so I think we saw like 105 cases Last time I looked was a couple days ago. Was it pretty pretty good about I mean our state's small It's something like new york where they're getting 20,000 cases a day, but um on about six thousand On about 6,000 tests. So it's still it's still out there Basically, they're they're thinking in missouri like double the number of cases that they catch per day There's probably a thousand new cases per day out there, you know over a 14 week incubation cycle You know till till here till here. There's probably 15 to 20 thousand active cases in any at any time in missouri Right now, I would you know and then you know, we're on the lower to middle of the scale So I think if you look at your kind of data you could probably see You know what I would be looking for is not necessarily more positive test It's more hospitalizations more more people passing away from this. That's the real that's the real measure until there's until there's universal testing um I've mentioned this gadget before this is something I've thought about investing for my staff and it depends on the the mood of the country is There's a tech company that's inventing a little iphone widget that'll go on the bottom of a phone About 55 dollars. You can do a saliva test on it. Like I don't know if you lick it or what you do Will you spit on it? Yeah Yeah, and it provides It could provide testing instantaneously um, I found it A while back. I thought it was vaporware, but there's quite a bit of there's quite a bit of research that's gone into this It was originally designed as a zika tester And they re they remodified it to for kovid and it appears that by august this would be available for about 55 dollars per unit So I was I was thinking at some point, you know for for customers Are there any statistics in terms of Like false reads either false positives or false negatives It's just uh, it's just like a beta wear device right now. So I don't I don't know I mean, I just have read a couple articles on it But it it gives me hope that there's going to be some technological solutions for this Testing is still our way through this. Like I know we've all kind of you know, kind of uh, you know Think this is over, but I I do think testing is going to provide a lot of peace of mind If we can get daily tests to our staff towards the end of the summer for a dollar a day You know Everything everything changes if we can get testing, but let's roll the clock back all the way back to I don't know February and march where You know cdc was supposed to be geared up and they had all these tests and they sent them out and They had to recall them all because about 20 of them would Produce a false negative where somebody really had the virus and the tests said that they didn't which Is really bad. So we don't need those let's get rid of those And it took them I don't know a couple of months before them to come up with other tests and then the cdc You know, normally cdc is very rigid in terms of controlling, you know, how tests are commissioned and who can do it They basically said to heck with it. We doesn't need test anybody out there who thinks they can come up with one Let's put it on the market. There was a lot of tests out there that Were really not very accurate and and a lot of these were wrong on the false positive side that If it said that you were sick, you didn't really know if you were or not They have to send you back for a second test to see if you got the same result or not Certainly would make to spend 55 I mean I always think about deploying these to my every single employee that I have like it would be basically part of your Your work uniform that you get and basically you have to take a picture of this to us every day that you're You know that you're negative for code like but again, you're right It's got to be accurate. It's got to be it's got to be reliable and it's got to be You know, it's got to be affordable and I think businesses are going to take the lead on on getting our economy back to Up on our foot, you know, I'm not going to talk anything bad about leadership I think people have different opinions on what their governors did or what the top level leadership is But I think that businesses like ours have actually an opportunity to be the real leaders in this space of getting our economy back Up and running and that leadership could be something as simple as Somehow providing some daily certification That your staff is safe and like right now we're doing that through questionnaires and through You know temperature scans or other methods But man, it would be impressive if we could roll out a you know advice and we could all get this in our businesses That's going to change the game and really provide some confidence in the marketplace People will still will will be ready to go spend money at a restaurant If every if every server server and cook that day has been certified that they're that they're they're covid free, right? Is there these these tests which are supposed to be coming out in august? Is there Any way to pre-order these is there what's the I haven't looked at it a couple weeks time I will I will say that that there was not last time I looked it's you know I thought it was vaporware at first but they're they're confident that it's going to come out It was it was 10 million dollars in backing from From a major university. I want to say stanford, but I have to reread the article So it's it was it was real enough that some real money was put into it to kind of accelerate Getting it to the finish line this summer But then being able to make those in enough quantity to make it relevant another thing Right. I mean that I mean you'd think you'd think they could sell 10 million of those things You know, I think that You know, I would say, you know 100 million. Yeah, like you're saying Get one for everybody in my company. Yeah The goal I think would be that every household would have one, you know, like that would be that would be a great goal Like you know for something like this, but yeah, how quickly can you get ramped up? And we're talking about just domestically here in the u.s. And I mean the demand globally would just be Off the charts Here over here and you guys I just wanted to point out That is saying that um his information that he's dealing with is about 30 false negative That's a lousy number right there. Um Leslie bought thermometers for all of her employees and every one of her employees sends a picture of their Of their temperature each day And you know what I gotta say after having Laura on the call. What was it tom day before yesterday Tuesday? Like yeah, I want to do whatever we can to kind of you know protect ourselves because You know, she she made it seem like no, don't worry. Don't don't get to break out, but You know changes are coming there Leslie I saw what Have a rise in cases. They don't know how much of that has to do with testing. So You know, um, yeah, marcia, I've spent money on You I could yeah Oh, that would be awesome The I'm guessing your mom's in the hospital Oh, no, probably just a home elderly at the hospitals y'all these poor people in the hospitals Not not getting you know visitors and nobody being able to be with them If we could get something for those people just so they can go in I'm like two different people who have family members in the hospital and neither one of them can visit their family member Yeah I think I think if they had some rapid testing is again, we're talking about testing So it doesn't have to be this live a test or whatever But whatever whatever if we can get to the point where we can do Rapid testing where you walk in some place and for a dollar you go into a hospital Okay, you Again, you're you're gonna have to probably get to like 95 accuracy to to really You know make people comfortable with testing as being the answer Or I don't know what the number is tom your statistics guy probably maybe needs to be higher than that but it It could be the problem the problem with the testing is and just like the people wired into the cdc that that I guess are doing this as a As a profession they believe there's going to be a lot of tests available Through whatever, you know the traditional testing I guess there's a number of varieties of those come the fall and we're really going to need them but the facilities in which one can get tested is which is going to be the problem because Most doctors offices don't want that hassle don't want that liability because somebody comes in they test positive And then they have to quarantine half their staff. I mean it's They don't want to be they want to do that so the the the real gap that we have is is is testing facilities and Being able to get it to where it be self-serve would be awesome, but I don't hear many of The the people who are right and talking about this every day even mentioning that as something that's In the consideration side Well, just imagine just imagine though like if if you can do saliva based tests like through some iPhone or like an app or whatever Then it means that it could be done in other methods You and I and I think Liz probably does too. We do saliva based drug screens now You could actually give your staff testing kits. It doesn't have to be an iPhone app It's just I just firmly believe that businesses are the way forward through this our investment in testing and And those sort of things are going to be one of the big ways that we get back open and get the economy Really comfortable that that you know that our staff is safe and you know I mean We're doing our best right now. I think we're making really smart decisions and making good You know, you know best efforts, but man, there's still a lot of uncertainty Just every day and we don't know there's stuff. We just don't know yet and I would like that knowledge that Filling that gap would make the make things a lot better. I don't know if I should be sharing this or not But I will because it's real Um This is a legit company that that I buy We the Yes And they're selling covet 19 rapid test cassettes it is uh supposedly only available to medical professional use and they've got all kinds of things here in terms of You know who who's supposed to be getting these because they Oops, they are in short order. It's a finger prick test though. It's not a saliva test though, right? um 10 minutes Ceramoplasma so yeah, you've got uh, you got a prick your finger Yeah, I'm not gonna ask my staff to do that yet if they're But that that's that's all the way that could be something that could help I mean, you know, that seems like we're on the way with something like that But you can't you have to basically Like submit, you know your information and ask For pricing and it's not yet. It's not yet, tom But this is that's on the way you get that to the point where that's a couple bucks a day I think a restaurant that could fill its fill itself up with, you know More people because they feel comfortable. I mean, they're talking about doing some things in my town Where they're talking about closing the some of the street fronts on some of the busier streets To drive through traffic so the restaurants can place Tables out in the street every night. I mean, I mean people want to get back out and do stuff people again Back to like we're certain back to like the demand things People want to start spending your money again They want to like they are tired of being cooped up and then in st. Louis two nights of of of this unrest Where they've had nine o'clock curfews people are already flipping out because they can't go out at night because they're like You know, they're literally so sick of you They're like they're like people are losing it over a couple nights of this already um, so Yeah, I think uh They were already fun They were already feeling more cooped up and they're they're ready to get back and spend money and live their life again The consumer the consumer is flush with cash uh, you know, we shared a couple of days ago the ceo of uh Bank of america said that everybody with a bank account of five thousand dollars or less that bank with them In one out of every two households in the country bank have some relationship with bank of america They have 40 percent more money in the bank now than they did prior to cove So everybody's accumulating cash not everybody But the large majority of of consumers in this country have more cash in the bank now than they did Before this whole thing started. They just don't have any place to spend it Yes, man, if you haven't been going out to eat everyone I mean, so my family it's at home pretty much every night, right? Like we cook a lot. We do we do a lot of healthy eating things like that Well, man, when we when we had the first chance to order some chinese food, we were like, dude We still like 150 bucks. We couldn't even eat at all. It was crazy Doesn't I mean, so I'm just thinking about us and we're like going through this menu I'm like, I feel like that's how people are they're like look at the menu like I gotta spend some of this Like I am so bored. I think people are conditioned to go out and do things and like Um, you know, this has felt very unnatural for people because they're used to being able to go do what they want spend money Have services do things for them Mow mow their lawns clean their house. I mean, they're they're they're done with this stuff so there's there I think there's going to be an uptick in demand for our service now There's a little bit of sticker shock with new customers Like I'm not I'm not always a fan of someone that's never had a cleaning service before and like Some of those calls where they're just like, that's so expensive. I'm like, well, okay Like I feel like we're reasonable but I get I get your concerns I'm seeing more of those calls lately like when I listen to our calls and be like, you know, I'm like Are we priced wrong for this environment? No, we should be charging more but like we're not ready to do that yet Um, we're seeing a lot more people that have never shopped for a cleaning service before all of a sudden Looking for have you guys seen any of that a little bit more sticker shock or or is it kind of back to normal? We were talking about leads a little bit before We haven't gotten that yet Yeah, but we weren't talking about leads a little bit before Liz. I didn't kind of get to my point. I guess my point was um So may we were down dramatically? Um, normally we do about uh, I actually broke the numbers down the other day So we normally do about 220 web leads which is not a quote. That's just they've expressed some interest in our business We convert or a good and then and we sell online and via inside sales people So I kind of have two numbers So normally we normally we book about 32 recurring jobs per month for my inside salespeople And then 10 to 15 from our online booking. We sell about 45 new recurring customers every month Um, so far this week. We've already sold 11 and we're only on Wednesday So we're kind of back on back on track for a banner month for for uh, some of the recurring sales Now we're not selling much one time. We just don't have the capacity to put on One times and we're not even doing deep cleans with these recurrence We're telling we're going to catch them up over time because we don't have the time on our schedule To sell them a deep clean. We don't have I don't have time to give somebody a $400 clean right now And take up a team's whole day cleaning a house. We're just we're just telling hey You're going to get on recurring. It's not going to be perfect. We're going to get you caught up over time I'm kind of doing tom's method and it's working. It's working to fill our schedule and sell some new customers But again and again normally we sell about 35 one-time jobs via our inside sales people and then 35 one-time jobs via our website through made central and uh that that number I expect to be decimated for the immediate future I just um I just don't have the capacity to sell those as much as I like so Um, and you know a big thing with online decision-making for sales is how quick can they do it? And if they see it's two weeks out They're not going to make the decision to book. They're going to look someplace else. So I'm definitely losing sales um I'm definitely losing sales from that process Need more people Thing uh going Mark to come back to us. I mean it's going to be it's I believe it's really going to be a lot easier here in a couple of months. We just need to Make it through the I I posted it in your chat yesterday our process and our process is going great as far as uh, as far as uh, you know, not we're not seeing them at all until they show up for their first day. Um, but Did you Yeah Okay, so we're we're posting jobs on on two main sources right now facebook and indeed are working well for us We actually haven't posted on craigslist since this kind of started and maybe that's just personal preference I just I'm just like okay. We're focusing on these two. Um, we're getting about 50 50 applications from from both Indeed's been very helpful with us as far as you know, um, you know Working with us as far as you know placement of our ads and doing some doing some Work with that, but so we're advertising we get an application on indeed or facebook Um in indeed we actually just go through and just send them a like a little thank you for for their indeed apply And they have to take the next step That automatically happens with facebook. We actually put a bot in and it sends them a link to our full application So then then they do the full application We review we review the application. It has it's a it's a long form application We do we actually believe in a little bit more I want them to put a little effort into the application So we we drop off a lot from those those are interested. I kind of call those leads We come out with those web leads to like to quotes well to a full application. There's a pretty good drop off Maybe if we get 50 applications, maybe Maybe 10 of those are going to turn into full or 50 like kind of interests on indeed or facebook Maybe 10 of those turn into applications a day We're reviewing those. There's assessments on there. Um, that are already kind of similar to Kind of the orion, but they're not as good as the orion or things like that But they're the personality tests all of that three-year applicant tracking system Yeah, so that's all happening And so we're making sure that they're a good candidate If they are then we're then we're sending them a link through email to Schedule their own Interviews so then they schedule their interview. Uh, they self schedule through we use schedule once But we're actually moving to another software that actually will do all of that Internally i'm using I'm moving to a new applicant tracking system where it's all going to be done internal to that where we don't have to use Parts and pieces in different software But which one wait don't move on which one because I know you People matter. I've used people matter if I need to switch. Let me know I'm switching to pay core the applicant tracking software for it is kind of expensive But the other pieces aren't so it has applicant tracking software. It has It has your hr software your payroll And your learning software all in one platform It cost me about three hundred dollars more a month Then just doing payroll with pay for it to have all that which is about Three times what I was spending on people matter. So people matters like a hundred $20 a month or something like that for for one brand Anyway, so but we're we're moving on pay core system looks pretty exceptional We're and we've used core for a long time for payroll So again, so then they they they schedule their own interview through schedule once and at that point Uh, it we have just like a standard We're using google meet and what we did was we created a standard a standing meeting so that id stays forever So we keep that id It's always the same meeting room. So we just keep that open all day for people to pop into And and so then they come to their they come to their interview We enter we enter them via people matter. Not we do not we enter them via google meet You know probably less than half the schedule show up just sort of like regular interviews So, um, you know, we just continue our regular workflow if they don't show up the meeting's open And you know, somebody's watching it. See if somebody you know showed up to the room Um After that if it goes well, we send them one more assessment So right now we're using the orion. It doesn't have to be orion But the orions are on sale right now for 10 bucks. So we're doing the orion. So, uh, that's a good that's a good value So, you know, that would be a good maybe a good investment to try out the orions right now. Um And we're just doing that. It doesn't have to be orion. It just needs to be an extra step I want them to show one more step of commitment before we make a job offer So then they do the orion the assessment comes back and they're not, you know They're not in any high risk areas that we want to avoid and even if they are like I you know without having met them in person, you know, and whatnot But again, you know, I trust the orion after having used it for a long time But I also know that know its limitations. So, um, you know We're gonna also go through all their work history and things like that before making a final decision The orion will just be one piece of it. But the bigger piece is did they commit to taking that, you know, 30 minute test The next thing is we would make them a job offer We'll make that job offer via, you know, our applicant contract system Which is people matter now it sends them out an offer letter with their pay rate a link to our Our job shares that's done, which is our commission system so they can learn more about that It has their out, you know, the hours that we expect them to work and you know, just An offer letter. I think an offer letter is a good idea So people kind of know what to expect from the job It has some bullet points with some other expectations and it outlines what when we expect Them to reach back with us that offer we we have the offer expire within three business days So if we send them on a friday, it doesn't expire Sunday it expires three business days by next wednesday that offers expired if they haven't reached back out to us and and Done anything else than we we rescind the offer. It's off the table. Um, you know We we learned something really yesterday that uh, Heather cannings doing I think is really cool She'll very quickly send them a letter tell them that they're no longer a candidate because they aren't being responsive enough Yeah A number of them will crawl back and say oh my goodness. I didn't see that. I'm sorry. I really want the job Then she winds up hiring her that turns out, you know In a lot of cases being a being a good hire that Taking the job away from people makes makes them want it more. Yeah And again, I don't think like leaving an offer open. Oh that we offered you that job a month ago No, like we needed an answer like so again, so we have a three day three day You know says they need to get back with us. So we expect them to reply by phone We clearly spill out that you need to call heather who is our hr person call heather And and then they schedule their first day Um when that's scheduled and they call heather sends them out and offer packet through our applicant tracking system They do their onboarding we're expecting all of their onboarding to be done before the first day And all of their learning done all of their training. We have a we have a learn system to our Our hr system called people matter now paid course soon since liz has which is going to have All of the courseware that we've developed over the years and all the new things we've done with And a lot of other links to tom's training and some other things that they need to complete before that they can Before they can start their first day It all has to be done And it all has to be completed before the first day and if they don't do it Then we were sending the job offer and that's again clearly spelled out in the offer letter So we're we're getting a pretty high level of commitment by the time they show up for the first day They've done eight hours of work for us and we pay them for that first eight hours of work that they do if they show up They don't you know no big deal But they've committed to us and so we can like oh, we're gonna put eight hours on your paycheck for all the work You've done up to this point. So that's our process Thank you So audra wants to know matt Um, how much does it cost to start to finish for hr process? I'm not exactly sure what she's asking But maybe you have an answer And all of the things that you're doing along the way So it costs about four dollars per application and indeed About three for for facebook. So that's just for their little simple applications on their site So let's just say four dollars. It cost me four dollars to get somebody to fill out indeed's application Um, again, about about 20 of those people We'll fill out our full application. So do some math on that time. What is what is that? per application I'm sorry Sorry for you tomorrow. Yeah, but So, uh, so five times that number would be, uh, 20 dollars basically roughly to get it to get an applicant to apply Um, of the of the applicants that we apply or that actually apply um of those probably we only Uh, I would say 20 percent so again five times that number again 100 bucks to get To get a job offer probably Um, and then, you know, how many of them take it 50 percent. So it's easily 200 dollars just in In cost of marketing for them up until you've up until you've you know hired them I would say about 200 dollars to get somebody in the door just roughly just thinking about But if you try to do it on the cheap and wound up having to hire three times as many people, I mean You know, it's not about what you're charging per hire. It's what you're charging an aggregate over Right over a period of time. We're like, uh into the five minute warning here. There's a couple of things That we need to to get to I see there's a question here about when the covid course is going to come back online um We pretty much have the new e-learning platform ready to go live with From a technical standpoint But it struck us as we were pulling all that together that there's A couple of things that that that we need to think about before turning it on one is There's a lot more functionality There's two roles one role is for the student which is similar to to what we currently have But we have this whole new role which is the company administrator each company can have someone to sign up your your team members and to manage their process through the through the whole learning experience and that's brand new and Turning that on on a friday and letting everybody go on that and try to figure it out over the weekend I don't think anybody's going to be real happy with that So we're putting some training material together some videos together over the weekend And we're going to turn it on monday at 10 o'clock eastern time And you know, hopefully the materials that we have will will will help be a good start But if people have questions and need support and we'll have our full staff here to help with that throughout the week Next week. We didn't want to run anybody's weekend And y'all can blame me for that tom was all about no, we said we're going to do it on friday. We're going to do it on friday And i'm like I don't think so we got a change. So yeah, sorry that it's monday y'all can send me your nasty grams Don't blame tom. He really wanted to do it I just wanted to follow up on otter's comment I just did some quick math really quick and it cost me about $1,250 to get somebody hired train drug screening And and one week of training, which I don't know that that really makes them a solid employee But it's about About $1,250 between their cost and and a manager's cost to work with them the whole time and then all the costs up until then So, uh, roughly $1,250 to hire an employee But if you try to do it, I happy you asked still audra. Are you happy? On the cheap you're still going to spend most of that money and you're going to be doing it many times over Yeah, so this is one Yeah, you don't want to you don't want to be going for the The lowest price the lowest price approach to this is not what you want to do Yeah, all right You have to share what what we're going to do next week, but um matt while he's pulling this up I'm listening one that you know if you're paying for those courses. So maybe you could give a quick answer while tom pulls this You're faster For for i'm gonna have to defer since i've since i've been creating some of the courses I've gotten a little bit of a little bit of a break from tom for helping on on the creation So yes, the answer is yes for paying but not quite the same as everyone else because we've been helping build them So we're getting a little bit of a break for that. So But some of them he's paying for like he is paying for the iranian and Some of the other stuff that he's having to put through $1,200 the actual fee for courses is insignificant Most of that's just in a manager in their labor for five days and I'm really our our training is two weeks But I mean i'm just saying five days like they're not even really competent to even be producing revenue up until Probably five days of training. They're probably you know out there cleaning, but it's not really revenue producing activity up until five days So after five days, they're probably out with teams and they're they're out producing revenue, but um Yeah, I mean that it's expensive to hire people. There's no doubt. You you should take your time and get it right And one more thing here real quick like all businesses They all argue about the right way to do this right way to do that But one thing that successful businesses don't really ever argue about is whether or not It makes good sense to spend money on a quality hire, which is what leslie is saying That would be a smart business move We're gonna switch up our format a little bit for these five caught facebook lives We started off back. I guess middle of march The focus was on covet 19 and dealing with the pandemic and the crisis being created by that And while that's still real and that's going to be with us for a long period of time We're going to still talk about that, but we're going to broaden it up a little bit because There's other things that we need to be talking about as well. So starting monday We're going to be Launching an agenda where on a week by week basis, we're going to tell you what we're going to be doing every day for that upcoming week And we're going to be having more guests. We're going to have more focused topics. Well, you'll know in advance. So you know You might you might come here every day to find out what we're talking about and if it's useful to you You hang out and if it's not useful to you don't we're going to make it easier for you So if there's something we're doing next wednesday, that's really important to you You can mark your calendar and make sure you're you're here and are able to ask questions Like I said, the topic is going to be broader than then covet 19 we're going to have More daily guests We're going to have more more what I would call structured education where you know, we may have powerpoint decks and materials and handouts and and and Things to make it a more more structured more Trying to get more value in a short short amount of time And and more a more daily Um education so that's structured so like a presentation where you can learn something on on the spot here um Also one one actually i'm sorry go ahead tom i'll i'll say my thing later Well, just real quick because we are in overtime Uh next week. This is what we're going to be doing. We're going to post this on facebook tomorrow On the pages that that we do these facebook lives Sean day is going to be with us monday And he's going to be sharing with us Uh, you know pointers and tips and best practices for recruiting that we can use in our businesses Tuesday, we're going to leave open for relevant current events And that's going to be an opportunity to catch up on ppp corona virus or Whatever else is is going on with within the industry Martha Questions plenty of questions Yeah, we'll be taking questions every day, but tuesday is definitely going to be heavy questions Wednesday, martha weber is going to be with us and she's going to be sharing with us techniques to Build culture within your business during the reopening coming back from corona virus Uh thursday, we're going to have a guest a a friend of liz's paul weber And he's going to be speaking to how to help your employees do financial planning and I think it's important that's going to be uh moving forward And friday, we're going to be doing on the spot and some of you know what that is some of you don't Is a rapid fire ask a question get answers No, I don't The only people that know what on the spot is are the people that have gone through foundations Well, I know what it is so You know Basically basically we'll have three people and i'm going to be liz myself And we'll have a special guest that you'll just have to wait until you get here to see who it is And you'll ask a question and each one of us will answer the question From our perspective and there's a timer where there's one minute and there's a clock that you'll see ticket And we'll try to answer that question as thoroughly as we can but when that minute is up That person that that you know answer or get shut down and it goes to the next one It's a a lot of information. That's a lot of fun too We're getting a lot of little love hearts here people like the new format I'm really glad that you guys like the the new format. Um We we want to make sure that you guys know that Uh, we thought a lot about this we and this is the conversation how it started. Hey you guys I don't know. Do we have enough to talk about maybe we should cancel these Maybe we don't need you to be doing these anymore But we had a lot of people say we love these calls and I'm like, well, maybe cut them down to half an hour We're gonna get enough content in there. Well, maybe every other day Yeah, so this is what we came up with same hour High days a week But with some content that we think you guys can look forward to so that you're not having to spend A half an hour every day waiting to see is this something I need or not? Yeah, right the lightning around the lightning around so We're way over time today. Sorry for that. We have a lot to cover We'll have more information tomorrow On what the new format is going to be a little more detail. We think it's going to be good And it's an urge of process. We'll tweak it as we go, but I think it's a good direction Matt you rock as always. Thank you for your help. Thank you so much. Thank you so much matt You guys uh be safe. Take care. We'll see you tomorrow at five eastern