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Tuesday, 12 May 2020 17:59

Two Shops in NJ Make Necessary Adjustments, Will 'Weather the Storm'

Written by Victoria Antonelli
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Fantastic Plastic, Inc., is located in Clifton, NJ. Fantastic Plastic, Inc., is located in Clifton, NJ.

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MacMullen: “We decided to take this time to make our shop a better place to work. We started with having a contractor break up and replace our shop floor. After that we cleaned all of our equipment, power washed the interior and are now in the process of painting the walls."

 

Have you taken on any other type of work, such as restoration or custom work?

 

Donaghy: “We have taken rust repairs and full paint jobs, which is something we don’t usually do, unless we are slow. We will likely continue to follow that model going forward, as these types of jobs equal more labor and slower turnaround times."

 

MacMullen: “We are resisting taking on any full paint work and project cars. This type of work isn't profitable for a small collision shop. I know this because that was what we did for the first five years we were in business. We were a Corvette restoration and customization shop, which is where the name "Fantastic Plastic" comes from. After doing a few collision jobs for my existing customers, I realized collision repair was a better fit for us.”

 

Have you applied for assistance under the CARES Act just passed by Congress? If so, what has the response been or lack thereof? 

 

Donaghy: “We did apply for assistance under the PPP/CARES Act and found out this week [May 1] we have been approved. Prior to that, there was zero communication from our bank on the status of our application. We submitted ours as soon as our bank started accepting applications. The money ran out quickly, and we had no idea where we were in the queue. Once the second round of funding was approved, we didn’t hear a word until the loan documents showed up in my email this week.”

 

MacMullen: “We have applied and been approved for the PPL [Payroll Protection Loan] but haven't received the funds yet. I have received the EIDL [Economic Injury Disaster Loan] money, which came out to $1,000 per employee. I believe the key to getting these loans was to apply early and have a bank willing to aggressively pursue the SBA [Small Business Administration] to secure the funds.”

 

To learn more about how other shops across the country are faring, or find more information on the survey, check out the following articles:

 

"Most Shops Weathering the Storm---So Far" 

 

"Shop in UT Discusses Billing Insurance for Disinfectants, Finds Silver Lining in Uncertain Times" 


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