Starting and running a successful florist business can be very rewarding, however, it can also be a lot of hard work. There are many things that you will need to consider to turn your green thumb into a profitable business. Selling greenery, house plants, and fresh flowers will be at the heart of your business, but many other variables will also impact your success.
With a little time, money, and dedication, you can have your own florist business. Let’s take a look at some best practices for starting a florist business.
1. Have a solid plan
To find success with any entrepreneur venture, you’ll need a solid action plan. Starting and operating a successful florist business is no exception in that you’ll want a clear business plan that you can lean on. When creating your plan, consider how much money you will need, what kind of services you’ll offer and how you are going to do business. This will include acquiring any licenses and certificates as well as the needed tax and business documentation.
You should also consider securing your assets with an insurance policy. An insurance company like Trust Co Insurance Tales can help guide policyholders towards protective plans. When you own your own small business, it’ll be important to plan for both your personal and business life.
Whether you form an LLC or an Inc. business, you’ll need protection to cover your company. You’ll also want to think about other plans, however, as policies such as life insurance and health coverage will also help protect your employees, and therefore your company, in the long run.
2. Outsource some products
Unless you have a greenhouse and the time, you probably aren’t going to grow your own plants and flowers. You’ll want to build a relationship with third-party nurseries and growers who can provide you with fresh flowers and plants. Additionally, you could choose to sell products offered by live plant delivery companies and mark up the margin. You can offer succulents, cacti, air plants, and other indoor plants in this manner without having to purchase a large inventory.
Outsourcing some of your products this way takes you off the hook for the care and responsibility of some house plants and saves you some money.
3. Hone your skills
When thinking about your florist company, you need to consider why customers would choose your small business over another shop. Your potential customers need to be impressed with your products and by your skills. People are willing to pay good money for bouquets and custom arrangements but they expect them to be high quality and expertly designed.
As a best practice, you should continue to hone your skills and stay on top of the latest trends in flowers.
4. Show off your work
The best way to market yourself and build interest in your business is to show off your work. Invest some time into a heavy social media presence and work on building up your following. While your website will be the vehicle for shopping and online ordering, your social media accounts can help do some of the work for you.
You can run special promotions, do giveaways and promote your products through well-run social media accounts. Social media marketing can take your florist business to the next level.
5. Join a wire service
Joining a wire service can provide additional revenue for your floral shop. Most retail florists partner with at least one of the major floral wire services like FTD or Teleflora. You might have to pay a monthly fee, and commissions, but wire services facilitate national and international orders. Partnering with a wire service will provide you with the opportunity to fill a wide range of orders that come from all over.
While it can be a challenge, the florist business can pay off with some work and dedication. With over 60,000 small businesses making up the industry in the USA, you’ll need to work hard to carve out your corner. To be successful you will need to think about things such as your start-up cost, a solid business plan, your products, and marketing. From bouquets and custom floral arrangements to stems, bulbs, and houseplants, you’ll need to offer quality products that are expertly designed and chosen.