Florist News

Here's a nosy question...

How many of you bought an existing flower shop and how many started from scratch?

I am presently weighing up the pros and cons of each and would love to hear how others began working for themselves. And even though I hate talking money, it would be useful to know what sort of start-up costs you incurred and whether what you calculated turned out to be realistic or not.

Not asking much, am I?

Hi, although I've not done it yet I have looked into what sort of costs I'd need to open a shop. It obviously depends on where you're based so can only base my assumptions on London prices.

Location has got to be a priority and good locations are obviously going to be at a premium. There's a florist up for sale in what I reckon is a reasonably decent location with no other florists for miles around/no supermarkets/near two crems - that's up for sale at £28k. If I was ready to take over this business (which I'm not in terms of my floristry skills) then I would earmark £45-50k to get it up and running. Hopefully, you'll get some answers from those who've already done it.

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www.treesfloraldesign.co.uk

hiya pacific blue, I started my shop up from scratch in 1999. I had £1,000 to start up and have built it up to a turnover (and important profit) most florists wouldn't sniff at! It was damn hard work, I had two other florists here when I opened -one of them an interflora florist established for 40years, who closed down after 2 years of me trading- my hubby says I closed them down bless him- I'm not so sure!! he's so proud of his wife!
It was nervewracking starting on my own, the first day I was so pleased I'd taken £104.10 now I'd be p'ed off if I'd taken only that in a day!! I didn't have any customers that "came with the shop" I gained my customers by offering something totally different from my competitors and it gave me buzz when my accounts came in each year and I realised I'd nicked £xxxxx from my competitors turnover!!
Starting from scratch was exciting in that I got to choose where the shop should be situated, the decor, the styles etc

Whether you start from scratch or take over an existing business its still hard work and just a rewarding.

nosey or what? we started our own and i think in the long run its much harder u have to establish a client base and really work at it, it might be a bit cheaper in the begining but the establishing time is longer and harder, then on the other hand if u take over a buisness u have to make sure that the clients are happy and that u arnt going to be put together with a bad name that u have to fix up, i think that must be harder to fix so all in all its hard both ways and when u get it right its wroth it

It can cost quite a lot to start your own shop. If you buy an existing business make sure it's what the owner says it is. Insist on seeing their books and ask for a client list. All florists selling over their business should have a client list of regular clients. If you are buying the business you should also get the pre-booked wedding orders, plus the deposits that they have paid.
Check out the shop that you are going to rent, what condition is it in? You will need to get a company in to log the state of it when you take over. That could cost you about £400. It is important to have this if the place is not in tip top condition, because the landlord can say that the premises where fine when you took over and it is only your word against his that work needed doing. It is part of most contracts that you have to leave the premises at the end of you lease in a better condition than you took it over. If you don't the landlord can serve a dilapidation order on you, which could cost you thousands of pounds.
Your landlords may insist that you pay their legal fees as well as your own, this cost me £600 three years ago. I don’t know how much it is at the moment. But I will find out soon as I am going to renew my lease, and yes, they make you pay the legal fees all over again!
Having said that it’s great to be your own boss.

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Rainbow

Quote of the day : "It is much more comfortable to be mad and know it, than to be sane and have one's doubts."
- G. B. Burgin

I bought an existing business,,one that I had worked in for 10 years so I knew it inside out and the client base knew me. I have worked my considerably sized butt off to get it to the stage its now at and dragged it kicking and screaming into the 21st century. Either way its a damn hard slog,,a relentless treadmill of pain, agony, torture and more pain...and I have not regretted one second of it. I am now planning a 2nd shop ..but that will be a new start up with ideas and stuff I have had in my crazy head for years!! Oh ,,thats the first time I've said that out loud,,ssshhh it was meant to be secret but I've had 2 gins now!!

And what thanks do I get...some drongos broke in last night and trashed the bloody place. I'm still swearing.

yes...you must make sure its what its claiming to be if you are buying an existing shop. Get your accountant to look over the books and take notice of what they tell you,,but take it with a pinch of salt cos ALL accountants are risk adverse,,trust me on that I married one and he's permanently doom and gloom.. I have to say tho,,if you are completely new to floristry,,its my humble opinion that you should work in a shop first and get some idea/experience of what its all about.

Oh Lexy I am so sorry to hear what has happened to your shop. I put cctv in mine because the same thing happened to a friend a few years ago. I don't know if ithe cctv would actually catch anyone but I just want it to deter them.
Go and have another Gin love, you deserve it.

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Rainbow

Quote of the day : "It is much more comfortable to be mad and know it, than to be sane and have one's doubts."
- G. B. Burgin

Cor, what a load of posts already, you lot are dead chatty tonight. Of course, gin will do that!

I have worked as a florist for other people for nearly 8 years and it feels like the natural next step to branch out on my own. We live in a big city though and our long term plans have always incorporated a vision of living in a more rural town. So I will have to do my research into where we would like to be, that also needs a new florist. Then leap.

Looking into taking on an existing shop, but there seem to be so many potential pitfalls and not as much enterprise support as when you start-up yourself.

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