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<p>Main street feels the impacts hardest whenever the economy contracts. But unlike other downturns where business owners had months to brace for impact, revenue dried up almost overnight as COVID-19 precautions were enacted. In response, business owners in usually stable industries are selling their distressed businesses because they don’t have the cash reserves to weather it out.</p>



<p>However, in all crises there is opportunity. If you’ve been looking to buy a business, now is one the best times to do it. The economic upheaval caused by COVID-19 offers entrepreneurs a unique chance to buy a distressed business that is struggling but that will quickly recover.</p>



<p>These are 5 distressed businesses we expect to bounce back quickly from COVID-19 but are currently undervalued.</p>



<h3>Auto Repair Shops</h3>



<p><strong>Why the slump: </strong>People are driving less as people are working from home and postponing recreational trips. With less traffic, there are fewer fender benders. Households are also adjusting to negative changes in income by <a href="http://www.google.com" data-type="URL" data-id="www.google.com">postponing non-essential tune-ups</a>. With less car accidents and people postponing non-essential repairs, the auto mechanics are seeing a significant drop in revenue in 2020.</p>



<p><strong>Why we can expect a bounce back:</strong> Auto repair shops <a href="#">have done well</a> in past economic downturns when tighter household budgets and heightened consumer anxiety have made buying a new car financially unrealistic. As lockdown restrictions are eased across the country and people return to working in office, people will choose to repair their older vehicles instead of buying new ones.</p>



<h3>Gas Station/C-stores</h3>



<p><strong>Why the slump:</strong> Under COVID-19 lockdown orders, gas stations and c-stores are considered essential businesses and remained open while other businesses temporarily closed shop. Despite being an essential business, because people are driving less many gas station owners have seen a dip in revenue due to fewer gallons of gas sold. Data gathered by GasBuddy.com from March 1st to May 31, found that drivers made an average of 2.8 fuel transactions per month, a drop from the pre-pandemic average of 4.5 times per month.</p>



<p><strong>Why there will be a bounce back:</strong> However, due to record-low gas prices, gas station/c-store owners have been able to buy gas for cheap with the potential to sell for higher profit margins than ever before in the future. And even if gas stations/c-stores are currently selling fewer gallons of gas, many c-stores have seen an uptick in sales, <strong>up to 5%</strong> in some cases, due to limited grocery store hours and people preferring their local c-store because it is less crowded than grocery stores.</p>



<h3>Skilled Nursing/Assisted Living Facilities</h3>



<p><strong>Why the slump:</strong> Long-term care patients are most susceptible to COVID-19, and facilities nationwide are experiencing an <strong>average drop of 10%</strong> in occupancy rate and a spike in expenses because of COVID-19. According to the New York Times “Coronavirus in the U.S” report, more than <strong>40 percent of deaths</strong> from the virus in the United States have been tied to nursing homes and other long-term care facilities.</p>



<p><strong>Why there will be a bounce back:</strong> However, the pandemic will not change the basic demographic makeup of the US, which includes a huge wave of aging baby boomers. The need for elder care remains the same. This paired with the $100 billion in relief funds in the CARES Act for healthcare providers to cover COVID-19-related expenses means, despite the pandemic, revenues are expected to continue to grow in 2020 in the long-term care industry.</p>



<h3>Dental Practices</h3>



<p><strong>Why the slump:</strong> People postponed non-urgent routine outpatient healthcare like dental cleanings once COVID-19 hit. This, paired with the record spike in unemployment, means that many households lost employer health insurance—making routine dental exams cost prohibitive. As a result, dentists had to severely reduce service hours and staff—if they didn’t close shop all together—to make up for their loss of revenue. According to an ongoing biweekly poll conducted by the ADA Health Policy Institute found from over 19,000 dentists participating that 76% of dentists has closed their offices to all but emergency patient with another 19% indicating their had closed their office completely.</p>



<p><strong>Why there will be a bounce back:</strong> While you can postpone a dentist visit, for most you can’t postpone them indefinitely. As states open back up and people find new jobs, recent analysis from Bain &amp; Company expects outpatient healthcare, like dentistry and optometry, will bounce<strong> </strong>back returning to long-term stability.</p>



<h3>Daycares</h3>



<p><strong>Why the slump:</strong> The same state COVID-19 precautions that pushed K-12 classes online also forced many daycares to either close or severely reduce the number of children in their care. Coupled with many parents temporarily working from home or being unemployed, the need for daytime childcare decreased, negatively impacting revenue.</p>



<p><strong>Why there will be a bounce back:</strong> While companies may expand their work-from-home policies post-COVID-19, it’s expected most people will return to the office by the end of the 2020. Even now, as states loosen social-distancing restrictions, occupancy rate is back on the rise. The outlook of daycares making a full recovery from COVID-19 is promising as demand continues to increase.</p>



<p>This isn’t a complete of all distressed businesses on the market right now. It’s a list of businesses whose long-term demand and stability won’t have changed once COVID-19 has passed. Making these businesses perfect for entrepreneurs who want to make a long-term investment with consistent returns.</p>



<p>So, if you’ve been waiting for the right time to buy a business—this is it. Don’t let this opportunity pass you by. As Churchill once said, never waste a crisis.</p>



<h4>About Us</h4>



<p><em>Headquartered in Salt Lake City, Utah, Celtic Bank is a top ten SBA Preferred Lender with a proven track record of financing gas stations/c-stores, assisted living/skilled nursing facilities, daycares, auto repairs shops and healthcare practices.</em></p>



<p><em>We work to get you the funding you need to start or sustain your small business. From working capital to expansion, acquisitions and more, we tailor our loan solutions to meet the needs of your unique business. needs. Our Preferred status means that we underwrite and approve loan requests in-house, getting you the money, you need when you need it. For more information, please visit celticbank.com.</em></p>

5 Small Businesses You May Want to Buy During COVID-19

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<h4>5 Small Business You May Want to Buy During COVID-19</h4>
<p>Main street feels the impact hardest whenever the economy contracts. But unlike other downturns where business owners had months to brace for impact&#8230;</p>


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Get help, information, and answers to all your financing questions with our online SBA resources and guides. What can Celtic Bank do for you today?