Opening any type of business is a challenging and monumental task that requires dedication and perseverance. Starting a flower shop brings its own unique set of challenges to the fore. No matter what type of business you are opening, careful planning is essential to your success.
When to Plan
Planning starts at the beginning, before you take the first steps to opening your business. If you do not create detailed plans to address at least the major areas of concern when opening a business, you may be destined to fail.
What to Plan
Opening a flower shop involves securing financing, choosing a location, determining what products and services you are going to offer, how your product will be delivered to the public, how you will advertise the business and much more.
[...] Part 2 Location, Location, Location Opening a flower shop in any metropolitan area requires that you select a location that will maximize your potential while not jeopardizing your safety. If you have done your research, you know that there may be any where from 30 to several hundred flower shops in your area. Where should you locate your shop to insure good business and safety? Determine your market This is just one example of the questions you should ask yourself when determining location. [...]
[...] Running a flower shop can be very trying but it is also very rewarding. In order to maintain whatever level of business you currently have, you need to consistently solicit new business. With new shops and flower vendors opening up every week, it's up to you to plan for the future and your future is in your customers. Part 5 Advice from the expert Deciding not to buy After fifteen years in one of the most rewarding industries in the world, Jeff Guthrie had reached an impasse. [...]
[...] If you start a monthly newsletter with tips on flower arranging and plant care and include a coupon or mention a sale that you are having, many of your twice a year customers will start coming into your shop more and more. You can also offer discounts for referrals. So, if one of your customers forwards your newsletter on to someone else and that person comes in to buy, all you have to do is ask them how they heard about you. [...]
[...] And you can sometimes tell when a shop owner does not really have a standard for marking up. Instead, they mark their items up to whatever they think people will pay. Overall, each of these strategies works in certain markets. If your shop is in a higher rent district where people are accustomed to paying more for things, you can probably get away with marking things up more. However, if you are in a shop near the hospital where people want simple, inexpensive gifts, you will probably have to mark things up less. [...]
[...] In an effort to stop this roller-coaster lifestyle, shop owners need to start creating a budget for the entire year. The best time to create a budget is when you are cash rich. That way, you can look at how much money you need to put aside to get through the slow times while you still have money in the bank. So, during your most prosperous season (generally somewhere between Christmas and Valentine's) take a moment to pull out last year's records and see where you stood. [...]
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