How To Start A Floral Business – All You Need To Know

Image Source

Flowers will always be used for expressing feelings and emotions because of their timeless nature. It makes the florist industry an attractive market for small businesses to pursue. Different flowers express different feelings and can be sent to people on different occasions.

The florist industry sees an approximate Compound Annual Growth Rate (CAGR) of over 5 percent in the United States in the next three years. The COVID-19 pandemic didn’t hinder this industry’s growth like it hindered all other businesses. Rather floral businesses experienced a boom.

It can be credited to the fact that social distances made meeting loved ones difficult; hence, people resorted to other means to express their feelings. What better way to tell them you miss them than to send flowers?

This is a great time for you to tap this market and learn to start a floral business. Here are the initial steps you need to take.

  1. Target Market

Before you jump into the venture, you need to assess the feasibility of the target market you plan to pursue.

Selecting your target market is not an easy task. You need to analyze the customer base you wish to serve thoroughly. It can best be done by conducting market research. Identify different interesting markets you’d like to go for based on demographics, geographics, psychographics, and behavioral patterns.

Once you’ve segregated the market into different potential target markets, choose the one that is large enough to be profitable and is stable enough to stand the test of time.

For example, suppose you target floral customers from Newport Beach, California, who are affluent but time conscious because of their busy schedules. In that case, you can set up your business online to reduce costs and increase accessibility. Be accessible for them, so when they Google “online flower order Newport Beach CA” in the search bar, you are one of the top results. Remember, for segments like these; it’s all about creating convenience for the customer.

  1. Pros and Cons of Being A Florist

After identifying your target market, understand the challenges and benefits of being a florist.

Opening a florist shop requires a relatively small amount of capital. If you are starting a very small home-based business, this is an ideal choice for you to keep your set-up cost low. You need a large cooler, water sprays, and flowers in demand.

You could go for the made-to-order approach and save space rather than pile up inventory.

On the flip side, keep in mind that this is an incredibly competitive industry. And it can wear you out, especially during peak seasons. Flowers are perishable; hence, you need to accept that you will encounter inventory losses.

  1. Learning The Required Skills

You will have to develop the required skills to run your business as it will not be a piece of cake.

Being a florist is not an easy job. You need to learn floral arrangement and design skills, project management, online selling, standard rates for the flowers and services, and industry trends.

You might as well enroll yourself for certification at the American Institute of Floral Designers to learn the necessary skills for this business.

If you can hire staff to help with your business, that is great, but most small business owners are short on finances and try running a one-person show.

  1. Get Your Business Registered

Registering your business is a key step in setting it all up. Think about the name of your business carefully, and make sure it resonates with the target audience.

Choose the business model you want to go for and the business structure you’d like to establish. Ensure that all the paperwork is filed properly and look for professional help if need be.

You can go for a sole proprietorship if you plan to run the business on your own. If more than one person is involved, you can go for a partnership or a company depending upon the feasibility of the ownership structure that suits your business.

  1. Choosing The Location of The Shop

The location of your shop determines the accessibility it will have for your customers. Make sure to open your shop in an area accessible to your target audience. Moreover, look for a location with good footfall to attract potential customers.

Your storefront should be thought out and aesthetically pleasing. A floral shop should entice customers to stop whatever they are doing and look inside the store.

It is also important that you ensure your social media and online presence for customers who prefer that mode of shopping in this digital age. Set up online stores on Shopify, Amazon, and Etsy, and even try to build your website.

  1. Market Your Business Properly

If you plan on going for marketing your business yourself, you could advertise yourself on social media platforms through sponsored advertisements and start a florist blog.

You could offer subscription packages, sales promotions, and discounts to customers. Moreover, you need to work hard to provide your customers with the best customer service and fulfill their needs to retain them.

Bottom Line

Starting a business is not a walk in the park. Even though the florist industry is booming, it isn’t going to be easy to make a place for yourself. So be patient with yourself and changing business trends, work hard, plan a strategy, and it will all pay off. Learn to adapt and be flexible. It will all be worth it in the end.

Award-winning writer, blogger, social media consultant and charity campaigner. Social Media Manager for BritMums, the UK's largest parent blogging network Freelance clients include Firefly Communications and Save the Children UK. Works with brands on marketing projects. Examples include Visit Orlando, Give As You Live, Coca-Cola and Kodak. Cambridge Law graduate with many years experience working across three sectors in advice, media relations, events, training and project management. Available for hire at affordable rates.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: