Florist Business Tips: How to price with the future in mind
Florist business tips on this blog are helpful little nuggets of wisdom that you can digest in less than 5 minutes.
I’m excited about starting this weekly series and want to welcome you to my first Tip Tuesday video flower friends!
Here’s my invitation to you. Let’s geek out on florist business tips together.
I’ve learned so many florist business tips and tricks over my 15-year floral design career and tons more from many of you over the last 6 months since the launch of EveryStem florist software. This Tip Tuesday series is a great way for all of us to share our time and money saving hacks. So, if you have a tip you’d like to share, please send it my way. I’d love to hear from you.
Today, I want to talk about how to price your flowers with the future in mind.
So many of us feel a tinge of uncomfortableness when we send our clients a price quote or proposal that is more than what we’d personally spend on flowers. Some of the best florist business tips I’ve ever received are centered around understanding that this feeling is real. Feeling all the feels. Then, doing it anyway. Go ahead and price your floral designs based on the client’s wants and not your own.
As my very wise friend Alison Ellis, florist coach and owner of Real Flower Business, says, “It is not our job to make the flowers affordable. It is our job to price our work accurately and leave the decision to our customer.”
Wow, don’t you just love that? Floral design prices are a transaction not a feeling.
Here is the formula.
Flower costs + supplies + expenses + a healthy profit = your price
It’s so important to see that your feelings can prevent you from looking at your pricing as a straight forward transaction.
Feel the fear and do it anyway! EveryStem florist software can help you to push past this stage in your business by acting as your flower price bodyguard. This simple to use program allows you to establish your markup, estimate future prices, and price based on the numbers.
Let’s take a wedding 6 months to a year in the future as our example for this week.
Click Here to watch the Tip Tuesday video! If you can see it above.
Predicting the future is not an option. So, you can use all the information available to you to make the most educated guess when it comes to price. Estimating on the high-end of wholesale price can afford you some wiggle room with your profit margin. Pushing past the fear of your designs not being affordable will allow you to wow your clients with your designs when the event day finally arrives.
Pricing your floral designs too low creates several problems down the road.
Here are a few issues that may come your way if you are not pricing with the future in mind.
Prevents you from buying enough product to wow the client on event day or forces you to overbuy because you are afraid you won’t have enough if you stick to the numbers.
Creates added stress as you try to cut corners in other places to justify the amount of money you spend on flowers to create the look you promised your client.
Hurts your profit margin and puts you in position to earn less money while doing more work and feeling stress.
So, play it smart and price with the future in mind going forward. A system like EveryStem can simplify this as you can see in the video above. It will show you exactly what your profit margin is and give you the power to adjust the prices quickly and easily!
Do you want to learn more about some of the top profit pitfalls you may have fallen into?
I’ve got some great florist business tips for you in that post too! Check it out here.
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Until next time,
LuAnn
