PMQ Live Update: Exploring Revenue Models During COVID-19 with Joey Karvelas

In this installment of PMQ Live Update, Joey Karvelas of Karvelas Pizza Company in LaGrange, Georgia, tells PMQ’s Brian Hernandez about the new reality created by the coronavirus pandemic.

For Karvelas, the pandemic started to feel real when the community was filled with a sense of nervousness after its St. Patrick’s Day celebration got canceled. Quickly, Karvelas and his two business partners met and came up with three different possible revenue models. The first one was a “reasonable measure” of a 30 percent reduction in revenue, the second one an “extreme measure” of a 50 percent revenue loss, and the final model was a “catastrophic measure” which would mean a 60 percent reduction in their revenue stream. Finally, they settled on planning ahead for the “extreme measure” model and took the first step – all 3 partners gave up their paychecks. Watch the video to learn more!