Do you have an entrepreneurial spirit and a love of fresh flowers? Is floral arrangement one of your passions?
If so, a flower shop would be the perfect business for you!
Of course, opening a flower shop will require a certain amount of work and research. And if you are new to small-business ownership, you might not know where to start.
Read on to discover these 5 key tips on how to start a florist business.
1. Research Your Location and Potential Customers
Before you commit to your florist business, spend some time looking at location.
Is a brick and mortar shop sustainable in your area, or is it already saturated with florists? Maybe an online business run out of your home is more workable.
Ask yourself what kinds of products would make your shop unique. How can you stand apart from supermarkets and other florists?
Know the economic makeup of neighborhoods around you and beyond. With this knowledge, you can better target potential clients, especially those with discretionary funds to spend on flowers.
2. Develop a Business Plan
Once you’ve determined the feasibility of a flower shop in your locale, put together a business plan. You will need a business plan to apply for a small business loan to get your shop started.
But a business plan is also essential for mapping out your strategies for setup, marketing, and daily operations. Take the time to get your plan to paper, then follow the steps in order to build your operation.
3. Determine the Costs in Opening a Flower Shop
Floral shop starting costs include your building, equipment (such as clippers, wire cutters, coolers, and buckets), furniture/fixtures, and a computer with a POS (point-of-sale) system.
And, of course, the flowers.
Ordering flowers from a wholesaler is one of your greatest expenses, taking up 40-50% of your sales. But it’s important to have the best quality flowers you can find for the best price.
For example, roses are the most popular flowers sold. A solid relationship with a quality dealer of wholesale roses will be invaluable to your business. It’s well worth the research and investment.
4. Wire Services and Florist Advocates
Wire services, such as FTD and Teleflora, assist in processing orders from clients to the florist and on to delivery. This allows florists to fill orders made from and delivered to long distances.
But these services come at a high cost and may eat into your profits.
Become a member of a florist advocacy organization where you can learn more about your business, as well as the pros and cons of using a wire service.
5. Marketing Your Flower Shop
No matter the location, your shop will need promotion on many levels. An online presence is a must, and don’t forget to be active on social media. Make sure you encourage reviews on Google, Yelp, and other like websites.
Partnering with churches, wedding venues, and funeral homes will help you corner some of the biggest markets for flower arrangements. The free marketing that comes from word-of-mouth at these locations is priceless.
Get Started on Your Dream
Take these steps when opening a flower shop, and get your dream business going!
Spread the word, sell a great product, and your flower shop will thrive.
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