The range of income for the first year will depend on the type of clients you decide to target. One rule of thumb is that you should charge twice as much for the flower arrangements, than you pay for the flowers themselves. If the cost of the flowers were $25, you should charge $50. To make a $25 profit you would need to sell 1,000 arrangements a year, or 20 arrangements a week in order to make $25,000 a year. One way to increase your income rapidly is to hire someone to make the arrangements and concentrate on sales.
The flower business has typically been thought to be the corner flower store. It is typically a retail establishment. However, that involves long hours, hiring employees and a high overhead. What if you worked out of your garage or a storage unit? You could focus on business clients who would provide you repeat business by calling, emailing or faxing in their orders. You will create unique flower arrangements for clients and then arrange their delivery.
Your clients will include realtors, mortgage brokers, title companies, bankers, legal firms and any other commercial business that is in the habit of acknowledging their clients with gifts. You will also find special events will help increase your business, such as Valentine’s Day, Mother’s Day, Graduation and other such holidays.
Your marketing plan should include leads groups and a plan to develop great relationships with your Power Partners. To promote your business you will need to identify specific publications that will gain you the level of response that will make it worthwhile.