Florist News

louise4 · #11 (**permalink**) 28-08-2007, 07:52 AM

Quote:

Originally Posted by kk

I opened my shop in the same location that somebody had closed theirs down.. It was funny because I had always driven past this location and always commented to who ever was in the car with me that I would offer her some ridiculous amount of money for her business cause it seemed to be going downhill for her and I always thought it was the "perfect" location.

Eventally she did end up closing down... a few weeks later I took a risk and reopened, best thing I ever did..!

Don't let anyone tell you that you need a lot of money to start a business you don't.... I started off with approx $1500... I paid my first months rent, bought a few sundries and a few fresh flowers... I basically had nothing... My first weeks takings was about $900 and I was SO excited, If I took that in ONE day now I would cry..! As my takings grew I just replaced my stock and bought a bit extra every time.. When I could afford it I replaced the floor coverings, painted basically revamped the shop as I went along. You don't need to do that all at once.

In my opinion...

1) - It's not the shop's location, it is who runs the business....The previous lady owed money everywhere, Unbelievably I think the main reason she went broke was because she was "giving" stock away - I have weeded out the customers that think that they can get $20 worth of flowers for $5.00!

2)- Setting up a shop is much easier on the bank balance than purchasing an existing one. Not as much to lose if it dosn't work out.

3) - Even though I did not purchase my business ,I did inherit the other tennats "baggage". Basically, you could potentially be buying someones elses problems.

4)- You don't need a multitude of staff either - I still work on my own - If you are organised you don't need to pay someone else a wage ( it's better off in your own pocket) Apart from the daily phone orders and walk- ins ( I have quite a bit of walk in trade) I also cater to approx 130 Weddings a year ( that was last year anyway, this year that figure will grow) Organization is the key..!

I was turning a profit within 12 months and I have been in business for just under 6 years and I now earn more money that my husband..!

Sorry for such a long post - didn't mean to ramble - just hope that it helps and it may give you some inspiration to show that it can be done

Thanks for such a refreshing post, i am a new start up business (opening in Oct/Nov)

I have rented a shop that used to be an old ladbrokes. I am starting from scratch with what i thought was not a lot of money (by the time solicitors are paid about £5500 left).
I will have a months free rent from the landlord (she is a sweetheart) to decorate and get things ship shape and then i need to start earning money. One way of looking at it is, that the less money you start off with the more you are probably driven to getting it right (buggerd if you don't

).

Good luck to everyone starting out/ already established. Jeez it's certainly a rollercoaster.

kk · #12 (**permalink**) 28-08-2007, 08:03 AM

"I have rented a shop that used to be an old ladbrokes."

Hi Louise...

Excuse my ignorance but what is a "Ladbrokes"

Good luck with everything.. I hope it all works out for you. Just remember to take one day at a time... !

louise4 · #13 (**permalink**) 28-08-2007, 08:06 AM

Quote:

Originally Posted by kk

"I have rented a shop that used to be an old ladbrokes."

Hi Louise...

Excuse my ignorance but what is a "Ladbrokes"

Good luck with everything.. I hope it all works out for you. Just remember to take one day at a time... !

Sorry should have explained. it's an old betting office. it really needs doing up but hey it has extraction fans so (hopefully) no misted windows. don't know what the leccy will be like though

kk · #14 (**permalink**) 28-08-2007, 08:15 AM

Oh Ok.. We call them The T.A.B. - don't ask me what ther initials stand for.. But the B stands for betting I assume.

So do you have a date set for your Grand opening.??

louise4 · #15 (**permalink**) 28-08-2007, 08:22 AM

Not yet, as the shop needs doing up i will decide a date when i get in. I went on my own to view it as hubby was working so he will prob have a heart attack when he sees it

I am very much the glass is half full and can, apparently, do anything. so i am trying to reign myself in. In my mind if we work really hard we can have it all done in 2 weeks so i get 2 weeks free trading, but in reality it might take a bit longer.

How is it over there. we emigrated 5 years ago but missed everyone sooooo much we came home

rosa alba · #16 (**permalink**) 28-08-2007, 08:39 AM

I bought an existing shop, and you do hit the ground running, I didn't need any extra cash other than for the initial purchase, and for a new van, it was self funding from day one. I think location is the most important factor.

Take care if you are looking at shops for sale through the business sale agents, in my experience they are always vastly and ridiculously overpriced.

kk · #17 (**permalink**) 28-08-2007, 08:45 AM

I know what Hubby's are like.... When I took on this shop he wasn't very impressed, We had only been married about 12 months and had only just signed the morgage papers on our first home.. Think he was a bit worried at that stage.... I like to take the plunge and do different things and He is a "safe" type. He is now very happy that I did

Actaully it's funny.. at the moment I have been toying with the idea of selling the Business and taking on something else for a new challenge ....( just hope any potential buyers don't see my advise in this thread) . and he is arguing for me to stay put. Im not 100% sure anyway but any decision I make he will go along with cause I never give up - he he -

Where in Australia did you live?? I am in Brisbane, Queensland.

louise4 · #18 (**permalink**) 28-08-2007, 08:49 AM

we were in sydney, OH sister has been there for about 25 years, so went there to be close to her.

We loved it but jsut missed our lives back here.

Never made it to brisbane, we will go back and visit his sister at some point so will go for an extended stay and travel about a bit. we have kids so travelling around wasn't an option when we were over there last time.

louise4 · #19 (**permalink**) 28-08-2007, 08:50 AM

KK could you not keep the shop running with a manager and then go and do something else, at least it will keep the money rolling in. It sounds like a very established business so shouldn't be too hard to let someone do the day to day stuff.

kk · #20 (**permalink**) 28-08-2007, 09:08 AM

That thought has actally crossed my mind but in reality, how do you find someone that would treat the business as if it was their own.??

When it all comes down to it, unless you have a financial stake in a business nobody would put in 110% for a business they didn't own.

Anyway, it's not something that I have decided, it could take me a few more years to make that decision, nothing has presented itself as an alternitive and I suppose I do still enjoy coming to work, until that day I will stay put I suppose.

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