Want to run your own flower shop? If so, then the next most obvious question is what the profit margin in flower industry is. Many of you, simply by hearing of making a business in flowers will step back. Well, there is no need to fear in flower industry. Every business has its own way of flourishing. Here are some tips by which you can establish your own flower boutique:
To make profit, charge for everything. Yes, I mean everything. When you are calculating the price of your designs, include all the flowers. Time is money. Do not give your time for free.
You must be wondering how much to charge for each design. As per rule of thumb, each flower should be priced at between Rs. 3.5 – 5. But each shop has their own cost of living, size of the city, overhead, supplier prices and more. On these factors will depend the cost.
Never keep only one supplier for your flowers and supplies. You may have a favorite wholesaler. But t might happen that any day he or she may fall sick and detain from providing you with flowers. Make a steady research of the pricing from various flower suppliers and see which one is convenient for you.
To build a good relation with your wholesaler, make sure you pay all bills on time, be loyal to them and give them feedback on their good and bad points.
This is indeed a touchy subject and is likely to bring harm to your profits. Begin by looking at your wire service statement and then calculate the costs on flower, supplies, labor and time. Check if you are making a profit.
You can add simple home decors in you floral shop to like candles, sweets, chocolates, flower vases, etc. This will earn you more revenue. You can also keep artificial fall flowers in your shop.