Starting a Florist Business

by Startacus Admin

Marketing

• Have you created a marketing strategy? If not is there anyone who could help you to put one together?

• Do you have any existing contacts in the local area who would be willing to assist you?

• Are there any local events such as wedding fairs or markets where you would be able to trade?

• Are there any businesses locally that you can build a relationship with ?  How can you go about encouraging recommendations from establishments such as wedding venues and funeral homes?

• Will you have a dedicated launch day to encourage local interest?  Will you offer first day special promotions?

• How will you use social media to help promote your new florist?  Will you have active Facebook and Twitter accounts and if so who will maintain them for you?  

• Are there any local publications/newspapers where you could advertise the business?

• Have a nosy at how your competitors market themselves, how can you make sure that your florist’s shop stands out against theirs?

• Do you plan on using any promotional material in your campaign e.g. business cards, pens, flyers?

• Will you be creating a catalogue of your displays which can be shown to customers?

• Do you plan on having a mailing system to encourage repeat business?

• Will you introduce a loyalty card scheme?

• Could you write for any local papers/journals about your experience of starting-up your florists? Are there any websites looking for start-ups to share their experiences?  Startacus would love to hear from you!

Finance

Yes I know, not the most exciting bit, but if your new florist’s is going to stand a chance of blossoming into a profitable business you need to have a very clear understanding of the numbers involved.  Briefly…

• Do you have a rough (but realistic) idea of how much it will cost to get the florist up and  running?  

• How do you plan on raising the capital to achieve this? Have you considered applying for a start-up loan or grant to help get you on your feet?

• What are your monthly overheads going to be?  Sit down and make an exhaustive list of all your outgoings remembering to factor in all expenses associated with the business

• You will probably have some renovation work to complete on your retail space to prepare it for selling flowers, how much will this cost?

• How much will you need to make each month to break even/make a profit?  Do you have a contingency fund to fall back on if you miss your targets?

• Do you plan on giving yourself a guaranteed wage each month or will you only take a salary when the business makes it into profit?

• If you are providing for events such as weddings and funerals it may take some time for you to gain a good reputation, will you have enough money to keep ticking over until you become well known?

• Do you need to join any horticultural associations/professional bodies to add legitimacy to your business? How much will this cost?

• Do you require any additional training such as professional flower arranging?  Where can you do this and how much will it cost?

• Do you plan on managing the business finances by yourself or will you be using the services of an accountant?  How much will this cost?

Business Practicals

Prepare well and they needn’t be a thorn in your side

• Are there any specific legal issues associated with running a florist?

• If you plan on employing staff make sure you keep up to date with employment legislation

• Are there any insurance practicals to sort out?

• Have a clear health and safety policy and make sure that all staff adhere to it

• It is wise to layout comprehensive policies with regards to equal opportunities and data protection

• Do you have a bespoke database to hold customer details?

• How will you charge customers if they order online?

• As with any retail business it is important that you have a clear understanding of the sale of goods act

As with any business there is a huge amount to consider before setting up a florists but don’t forget it also has the potential to be a fun, fulfilling and lucrative enterprise!  

Check out the Startacus business toolkit for a growing directory of all the business bits-and-bobs, links and articles you may need - no matter what business you are considering starting and get working on your business idea in our virtual workspace...

 

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• #florists
• #retail
• #starting a business
• #

Published on: 3rd September 2013