The global floral industry remains one of the strongest of all industries. In fact, it has managed to continue to grow in strength during the global recession.
While strong in developed nations, the industry is growing explosively in developing nations. The three different components in this sector are growers, wholesalers, and retailers.
The recent trend is to eliminate the wholesalers, as this significantly reduces prices.
This is another sector where you have considerable choice over the beginning size of your company. You can start as small as a simple hospital kiosk, or as large as an entire shop.
If you can find a florist business for sale, purchasing may not be a bad option. The current and future growth of this sector remains strong.
In many sectors, you can start with little or no experience. To be successful in this industry, however, you should have a strong floriculture background.
Customers expect you to be an expert both in arrangement and general knowledge about flowers. Non-specific advice will result in you losing customers.
As with all other company types, make sure you have strong business skills. If you don't, hire someone else to help you.
You can start this type of company from home, in which case location isn't as important. However, if starting a physical location, identify your target market first. You'll want to be physically located near places the target market frequents.
The floral business is very competitive, and one of the keys to success lies in creating a distinct brand. Specializing in a specific type of floral arrangement may be a way to stand out. Or, you might offer original arrangements not available anywhere else.
You could also choose to specialize in particular events or locations. For example, you could target weddings, business events, or hotels. Start anywhere you believe you can do it better than the rest.
Establish good working relationships with growers and wholesalers. If you can establish a working relationship with a local grower, you'll substantially reduce your costs.
Market your floral outlet aggressively. Become a sponsor for community events. Donate arrangements as prizes for churches and other nonprofit organizations. Make sure you have a website with an attractive design.
Selling a florist business may not be a bad idea because of the strength of the industry. This strength should allow you to command a favorable price. Buying a florist business may work out well because growth should remain strong in the future.
About the Author
This Wiki was written by Andy White, CEO of Biz Trader .