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is now a good time to buy a shop ?? Advise please !

This is a discussion on is now a good time to buy a shop ?? Advise please ! within the The Florist Shop forums, part of the Public Forums category; Hi i am new to this site and think its great. I'll be as brief as I can ... I ...


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  #1 (permalink)  
Old 11-05-2008, 08:26 PM
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is now a good time to buy a shop ?? Advise please !

Hi i am new to this site and think its great. I'll be as brief as I can ...
I have been a florist for 16 years so have pots of experience and enthusiam, and the shop in which I trained all those moons ago is now available to buy.
The shop in question is being sold due to a pending retirement and the shop really has been run down....not much selection of flowers,shuts whenever she feels like it, doesn't like weddings etc. The takings reflect this and by her own admission most of the takings are from interflora. The shop has the front door shut at all times and NOTHING at all out the front, so by now your getting the picture !
They only take £106k which in my experience is pretty low after all the outgoings if I want a decent standard of living .
I am currently working full time for a boss who is pretty similar and we have gone from 4 full timers and 2 part timers to just 2 f/t 2 p/t. My current boss is running the business into the ground by doing pretty much the same,buying cheap naff flowers etc.He has totally lost interest but says can't sell as who wants a declining business.He is blaming on recession.
My dilema is wether to buy the 1st shop . I love it and believe I could bring it back to life but I am constantly being told by said boss and any wholesalers who call that the trade is on its knees and everybody is laying florists off and really struggleing. I seem to be surrounded by gloom and doom and everyone is talking about "credit crunches" and supermarkets killing our trade. I am not stupid enough to argue with the latter , but surely we can concentrate on weddings and funerals and add on gifts and good old fashioned local customer service ?
Or do I have my head in the land of hope and lalas ? Please any shop owners advise on my dilema !! Is everyone struggleing and would it be madness to take on a run down business in the hope of bringing it back to life. I would have to get a loan to finance the purchase which is why I am in two minds as to what to do.

Also any advise from florists who have done the same would be greatly recieved. .. ie is it harder to win back customers from a bad shop than it is to start from scratch ?
I have the passion but am I CRAAAAZZZYYYY ???? please advise !
JEN xx
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Old 11-05-2008, 09:11 PM
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Hi and welcome to the site

well i did what your thinking of took over an old fashioned shop and brought as much as i could into the 21st century and yes i recommend it i too was a long standing florist and was peed off with not being listened to and was just extremley lucky my boss sold it to me

I am now also taking over my next project another run down florist in another area which i can't wait to get my teeth stuck into

If you enjoy a challenge then yes go for the run down one but check out the area first have you got passing trade etc because thats something you will defo need with being run down you need to get the rep back up asap

good luck with your decision

love Sarah xx
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Old 11-05-2008, 09:26 PM
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Personally i would run a mile.


A shop that relys mostly on money from interflora isnt a good buy at all. I totally agree with your current boss about the credit situation. I personally think we are in a recession but most people are just too scared to actually admit it.

You should look at your current employers ways, they are buying little and laying people off, doesn't mean they have lost interest, just probably cant afford staff and tons of flowers.

Flowers are a luxury, not a necessity, and with the current money situation, i think only the really strong are gonna survive this year.


I am quite friendly with my accountant and she told me a few weeks ago that so many business are going bankrupt right now.


Anyway......why would you want to go from full pay, 4 weeks holiday, and 2 regular days off a week, to no or not much pay, no days off and no holidays!!!!!

Beats me
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Old 11-05-2008, 09:33 PM
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Quote:
Originally Posted by elouise View Post
Personally i would run a mile.


Anyway......why would you want to go from full pay, 4 weeks holiday, and 2 regular days off a week, to no or not much pay, no days off and no holidays!!!!!

very very true there is that to consider an extreme change in pay... no holidays...having to work when you feel like crap there are the good and bads in these situations .
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Old 11-05-2008, 09:47 PM
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re ...

I know that my current boss has run our shop down as past colleagues have seen our customers out and about and they have left us after many years due to bosses behavior.. Our flowers are rubbish and my boss sadly lost his wife 3 years ago and has since become very hostile towards everybody and can be very very rude and arrogant.... even turning up drunk at work regually !
Our flowers are from wholesalers who either know he doesn't care and pass us the rubbish or just sell crap. . .We have a fantastic dutchman (heemskerk) who calls once a week but my boss is too stingy to pay that extra bit (which he used to) so we loose any repeat business because people don't come back when their flowers don't last.
I do know that being self employed can be hard work,long hours no hols etc but I am so frustrated where I am. . To the point that after 16 years I am loosing enthusiasm for floristry and I think its a crying shame that I worked for the best shop in our town and now I can sadly admit that I would rather buy from tesco myself than the shop where I work. . . They have more variety and better quality ...This a very sad day to admit to that !!
PS the shop that I am interested in is on a very busy main road...
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Old 11-05-2008, 10:04 PM
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where abouts are you jen??
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Old 11-05-2008, 10:08 PM
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I think it's worth doing, it's so much easier to build on an existing business and whatever anyone thinks about IF it will tide you over while you build back the local business. If it's been run down like you say it will be worth next to nothing tho so get some proper advice before you make an offer.
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Old 11-05-2008, 10:08 PM
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i jen i feel like i would like to offer advice but would like to know where you are first?
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Old 11-05-2008, 10:13 PM
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re..

Hi I am in essex. Don't really want to say where exactly as still have some (maybe misplaced) loyalty to boss.
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Old 11-05-2008, 10:18 PM
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jenflowa jenflowa is offline
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re ...

wow! your shop looks lovely by the way....very inspiring , just like a florist should be !
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