Starting your own flower business is as tricky as it is with any other business. However, it is feasible if you clearly understand what steps you need to take and solve all the tasks in stages. At the moment, the floral market is experiencing an active rise. So why not take the opportunity and open your own company or store? Here’s how to do it right.
Write a Business Plan
The first step is to develop a business plan as it is impossible to move forward without it. It is the key to success that can help you understand the industry and strategize. The plan should include the following points:
- Start-up capital;
- Target audience;
- Analysis of the market and competitors;
- Planned income and expenses;
- The possibility of further expansion;
- Unforeseen situations.
Keep in mind that the flower industry is a special area that deals with perishable products. You need to carefully consider the volume of flowers grown or purchased and their sale. You may need the help of third parties like lenders or investors.
Find Location
You have two main options. Relatively inexpensive and, in the context of the ongoing pandemic, the most suitable is an online store that offers flower delivery in Moscow, Saint Petersburg, Krasnodar, Kazan, and other large cities. Since, unlike a physical store, you do not display flowers for everyone to see, you need to think about an advertising campaign to attract visitors to your site. The second option is to rent a space for a flower shop. In this case, you need to carefully select the location, for example, near subway stations, restaurants, shopping malls, and so on. The proximity of crowded places will provide you with a stable income.
Get the Required Equipment and Skills
You need highly specialized equipment like various scissors, clippers, buckets, refrigerated cases, and more to run a flower business. There are also some important aspects you should consider that are relevant to the flower industry:
- flower design;
- flower care basics;
- bookkeeping and accounting;
- project management, etc.
Learning all of these and developing the necessary skills on your own can be challenging. Therefore, if your starting capital allows, you should hire specialists.
Consider Legal Issues
Regardless of the area in which you plan to open your business, you should study all the legal aspects. Otherwise, the regulators will have questions for you over time. Pay attention to the following factors:
- taxes;
- legal entity;
- bank accounts;
- permits;
- insurances.
Depending on the specifics of your activity, the list of required papers may differ. So, for example, although the flower business is unlicensed, you need a phytosanitary certificate if you import products overseas.
Promote Your Business
Advertising is another key to your company’s success. You can choose online or offline methods, but it is better to combine them. Create branded accounts on popular social networks and regularly post engaging content there. Even if you decide to open a physical store, create your site to reach a larger audience. Send SMS or email newsletters and collaborate with local bloggers. Hire a worker to hand out flyers on the street or work with potential clients in nearby offices and stores.
Make Your Business Profitable
According to various experts’ estimates, a well-thought-out business can reach full payback in 1-2 years after opening. Of course, it depends on the quality of your work, the segment you choose, and the target audience. To get a profit faster, along with flowers, you can sell related products such as sweets, chocolates, toys, baked goods, and postcards. Consider a system of discounts for regular customers or special occasions, such as birthdays or weddings. Follow the trends in social networks and adjust your assortment depending on the needs of your customers.