Are you about starting a flower shop? If YES, here is a complete sample flower shop business plan template & feasibility report you can use for FREE.
If you have eyes for colors and designs, as well as have a penchant for beauty, then you may want to tinker with starting your own Flower Shop. The market for both fresh flowers and artificial flower has continued to soar from generation to generation. This is as long as we still have weddings, burials and other special events taking place all around us.
Fact remains that as insignificant as most people think flower is, it is still a major requirement for weddings (Bouquet for the brides), burial designs (wreath), love gathering and design and decoration of event centers and even worship centers.
No doubt if you are interested in making brides happy on their wedding day or adding colors to people’s events, then you should consider starting your own flower shop. It is indeed a profitable venture especially if you know how to roll with big – time events and wedding planners.
One beauty about this kind of business is that you could decide to specialize in either artificial flowers or natural flowers and also you can decide to specialize in both.
With natural flower, you can even start by growing them in a garden in your compound if you have enough space and also you can order your artificial flowers and flower pots directly from the manufacturer at a cheaper rate if you know how to bargain.
A Sample Flower Shop Business Plan Template
Table of Content
- 2. Executive Summary
- 5. Job Roles and Responsibilities
- 6. SWOT Analysis
- 7. MARKET ANALYSIS
- 13. Startup Expenditure (Budget)
1. Industry Overview
A flower shop is a place where flowers are retailed. The florist industry or flower shops basically retail cut flowers, floral arrangements, potted plants and artificial flowers.
Industry operators purchase these goods from domestic and international flower farms and wholesalers, and then sell them to the general public. This industry excludes operators that primarily function as electronic shopping websites and mail-order companies.
The Florists industry has been on a downward movement over the last five years. Bad economic conditions during the recession period reduced disposable income, dissuading households from making discretionary purchases on flowers and plants.
So also, intensified competition has worsened declining demand; discounted prices for comparable goods online and in supermarkets have led consumers to buy fewer flowers from traditional flower shop. The Florist industry is a thriving sector of the economy of the united states which generates a whooping sum of well over billion annually from more than 35,343 outlets scattered all around the United States of America.
The industry is responsible for the employment of well over 83,208 people. Experts project the florist industry to grow at a 1.4 percent annual rate. No single florist store can boast of having a lion market share in the industry. The Florists industry has minimal barriers to entry, with low start – up capital and no specific licensing requirements.
The majority of flower shops operate as non – employers and the capital costs of establishing retail outlets are not substantial relative to many other retail industries, such as department stores. On the other hand, the high level of competition and market saturation in a declining industry can prove challenging to aspiring entrepreneurs who want to start their own flower shop – business.
Most players in the florist industry are small- to medium-size establishments that cater to the local community. With this kind of business, if you want to start on a small scale, you can choose to start it as a part time business from your home. All you would need is contacts, business cards and your catalogue.
However, if you intend starting it as a full – time business person, then you should consider renting a shop in an area that is prone to high human and vehicular traffic.
The good thing about ensuring that your flower shop is visible to all is so that people may easily walk into your shop to make enquiries even if they aren’t buying at that moment. With that you will be able to build your potential client list that you can use for marketing purpose.
Over and above, the florist industry / flower shop is a profitable industry and it is open for any aspiring entrepreneur to come in and establish his or her business; you can chose to start on a small scale in a street corner like the average mom and pop business or you can chose to start on a large scale with several outlets in key cities.
2. Executive Summary
Natures Delight™ Flower Shop, LLC is a standard and registered flower shop business that will be located in one of the busiest roads in Orlando, Florida.
We have been able to lease a facility along a major road that is big enough to fit into the design of the kind of flower shop that we intend launching and the facility is located in a corner piece directly opposite the largest residential estate in Orlando, Florida.
Natures Delight™ Flower Shop, LLC will be involved in the production / cultivation, commerce and trade of flowers. Our product and services encompasses flower care and handling, floral design or flower arranging, merchandising, and display and flower delivery. We will also sell bulk flowers and related supplies to professionals in the trade.
We are aware that there are several large and small flower shops all around Orlando – Florida, which is why we spent time and resources to conduct our feasibility studies and market survey so as to offer much more than our competitors will be offering. We have self – service options for our customers, and our outlet is well secured with the various payment of options.
Much more than retailing cut flowers, retailing of fresh and artificial flowers, retailing floral arrangements, retailing potted plants and retailing complimentary gift items , our customer care will be second to none in the whole of Orlando, Florida.
We know that our customers are the reason why we are in business which is why we will go the extra mile to get them satisfied when they visit our flower and also to become our loyal customers and ambassadors. Natures Delight™ Flower Shop, LLC will ensure that all our customers are given first class treatment whenever they visit our flower shop.
We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customers’ base may grow to. We will ensure that we get our customers involved when making some business decisions that directly affect them.
We are aware of the trend in the retail / florist industry and we are not only going to operate a system where our customers would have to come to our flower shop to make purchase or whatever they want but we will also operate an online store and our customers can order flowers and related merchandize online and they will get it delivered to their houses or any location they want us to deliver the goods to within Orlando.
Natures Delight™ Flower Shop, LLC is a family business that is owned by Bernie Vandross and Family. Bernie Vandross is florist per excellence; he has a B.Sc. in Business Administration, with well over 15 years of experience in the florist and retailing industry, working for some of the leading brand in the United States.
Although the business is launching out with just one outlet in Orlando – Florida, but there is a plan to open other outlets all around Florida and perhaps in other key cities in the United States of America.
3. Our Products and Services
Natures Delight™ Flower Shop, LLC is in the florist industry / flower shop line of business to make profits and we will ensure we go all the way to make available a wide range of flowers both natural and artificial and other related merchandize to our clients.
Our product and service offerings are listed below;
- Retailing cut flowers
- Retailing of fresh and artificial flowers
- Retailing floral arrangements
- Retailing potted plants
- Retailing complimentary gift items
4. Our Mission and Vision Statement
- Our vision is to become the leading flower shop – brand in the florist industry in Florida and to establish a one stop flower shop in Orlando and in other cities in Florida.
- Our mission is to establish a flower shop business that will make available a wide range of both fresh / natural and artificial flowers at affordable prices to the residence of Orlando, Florida and other cities in Florida where we intend opening of chains of flower shops.
Our Business Structure
Natures Delight™ Flower Shop, LCC do not intend to start a flower shop business like the usual mom and pop business around the street corner; our intention of starting a flower shop business is to build a standard and one stop flower shop in Orlando, Florida.
Although our flower shop business might not be as big as other related business that are into retailing, but will ensure that we put the right structure in place that will support the kind of growth that we have in mind while setting up the business.
We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders (the owners, workforce, and customers).
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;
- Chief Executive Officer (Owner)
- Shop Manager
- Human Resources and Admin Manager
- Merchandize Manager
- Sales and Marketing Manager
- Information Technologist
- Accountants / Cashiers
- Customer Services Executive
5. Job Roles and Responsibilities
Chief Executive Officer – CEO (Chief Florist):
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
- Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Reports to the board
Admin and HR Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
- Defines job positions for recruitment and managing interviewing process
- Carries out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Oversees the smooth running of the daily office activities.
- Responsible for managing the daily activities in the store
- Ensures that proper records of goods are kept and our racks and warehouse does not run out of products
- Ensures that the store facility is in tip top shape and goods are properly arranged and easy to locate
- Interfaces with third – party suppliers (vendors)
- Controls goods distribution and supply inventory
- Supervises the workforce
- Responsible for retailing cut flowers
- Responsible for retailing of fresh and artificial flowers
- Responsible for retailing floral arrangements
- Responsible for retailing potted plants
- Responsible for retailing complimentary gift items
- Manages vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
- Helps to ensure consistent quality of both natural and artificial flowers in our shop
- Responsible for the purchase of flowers and related products for the organizations
- Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
- Ensures that the organization operates within stipulated budget.
Sales and Marketing Manager
- Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Models demographic information and analyze the volumes of transactional data generated by customer purchases
- Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for expanding increase sales
- Documents all customer contact and information
- Represents the company in strategic meetings
- Helps to increase sales and growth for the company
- Manages the organization website
- Handles ecommerce aspect of the business
- Responsible for installing and maintenance of computer software and hardware for the organization
- Manages logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
- Manages the organization’s CCTV
- Handles any other technological and IT related duties.
Accountant / Cashier:
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the organization
- Serves as internal auditor for the organization
Client Service Executive
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
- Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries
- Responsible for cleaning the shop facility at all times
- Ensures that toiletries and supplies don’t run out of stock
- Cleans both the interior and exterior of the store facility
- Handles any other duty as assigned by the shop manager.
6. SWOT Analysis
Our intention of starting just one outlet of our flower shop in Orlando, Florida is to test run the business for a period of 2 to 5 years to know if we will invest more money, expand the business and then open other outlets all over Florida.
We are quite aware that there are several Supermarket who retail flowers and flower shops all over Orlando and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.
We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be welled equipped to confront our threats.
Natures Delight™ Flower Shop, LLC employed the services of an expert HR and Business Analyst with bias in retailing to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives.
This is the summary of the SWOT analysis that was conducted for Natures Delight™ Flower Shop, LLC;
Our location, the business model we will be operating on (physical flower shop and online flower store), varieties of payment options, wide range of flowers and related products and our excellent customer service culture will definitely count as a strong strength for Natures Delight™ Flower Shop, LLC.
A major weakness that may count against us is the fact that we are a new flower shop – business and we don’t have the financial capacity to compete with multi – billion dollars supermarkets who are into retailing of flowers and other big – term florist companies who are into mass production of flowers and related products when it comes to retailing at a rock bottom prices for all their goods.
The fact that we are going to be operating our flower shop in one of the busiest streets in Orlando, Florida provides us with unlimited opportunities to sell our flowers and related products to a large number of people. We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they visit our flower shop; we are well positioned to take on the opportunities that will come our way.
Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing / spending power. Another threat that may likely confront us is the arrival of a new supermarket that is into retailing flowers and other flower shops in same location where ours is located.
7. MARKET ANALYSIS
- Market Trends
In this era when the online community is growing rapidly, you would do your business a whole lot of favor if you create your own online presence. One of the easiest ways to get people to see you as an expert in your line of business is to blog constantly about flowers.
You may also want to leverage on social media platforms like Instagram, Facebook, and Twitter, and others to publicize your flower business.
You can as well go ahead to open an online flower shop where people can order flowers for their special occasion from your shop. You must ensure that your delivery system (shipping) is efficient if you intend to do well with your online flower shop.
You might not have all the designs and color combination of your flower per time in your shop, but one smart thing you may do for your business is to prepare a comprehensive catalogue that contains all form of flower designs.
Your catalog should be your number one marketing tool so you must ensure that it is well designed and of high quality. You should be ready to always update your catalog when you have new designs – that is where your graphics skills will come in handy.
Another key factor that could help you grow your business fast is to leverage on existing platforms. You can join a florist association in your area, as well as can with wedding and event planners in your area. Better yet, you can also work with caskets seller too.
If you are in good business relationship with all these people mentioned, then you can be rest assured that your business will grow in within a short period of time.
8. Our Target Market
There are loads of people who can’t do without flowers either natural or artificial flower and there are loads of functions such as wedding ceremonies, burial ceremonies and many other events. This goes to show that if a flower shop is well positioned, they will continue to sell their products to a wide range of clients on a regular basis.
In view of that, we have positioned our flower shop to service the residence of Orlando, Florida and every other location our flower shop will be located in key cities all over Florida. We have conducted our market research and we have ideas of what our target market would be expecting from us. We are in business to retail a wide range of flowers and related merchandize to the following groups of people;
- Event Planners
- Churches and other religious centers
- Funeral Homes
- Bachelors and Spinsters
- Corporate Executives
- Business People
- About to wed couples
- Expectant Mothers
- Sports Men and Women
Our Competitive Advantage
A close study of the florist industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry.
We are aware of the stiffer competition and we are well prepared to compete favorably with flower shops and other leading supermarkets that are into retailing of flowers in Orlando, Florida.
Natures Delight™ Flower Shop, LLC is launching a standard flower shop that will indeed become the preferred choice of residence of Orlando, Florida. Our flower shop is located in a corner piece property on a busy road directly opposite one of the largest residential estates in Orlando, Florida. We have enough parking space that can accommodate well over 20 cars per time.
One thing is certain, we will ensure that we have a wide range of flowers both natural and artificial and related products available in our shop at all times. It will be difficult for customers to visit our flower shop and not make a purchase of flowers or other related products.
One of our business goals is to make Natures Delight™ Flower Shop, LLC a one stop flower shop. Our excellent customer service culture, online store, various payment options and highly secured facility will serve as a competitive advantage for us.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups flower shops) in the florist industry, meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.
We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Natures Delight™ Flower Shop, LLC is in business to retail a wide range of flowers (both natural and artificial) and related products to the residence of Orlando, Florida. We are in the florist industry to maximize profits and we are going to go all the way out to ensure that we achieve or business goals and objectives.
In essence, our source of income will be the retailing of a wide range of flowers and other related products at affordable prices. We will generate income by;
- Retailing cut flowers
- Retailing of fresh and artificial flowers
- Retailing floral arrangements
- Retailing potted plants
- Retailing complimentary gift items
10. Sales Forecast
One thing is certain when it comes to flower shop business, if your shop is well stocked and centrally positioned, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.
We are well positioned to take on the available market in Orlando, Florida and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base.
We have been able to critically examine the florist industry / flower shop line of business and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in Orlando, Florida.
Below is the sales projection for Natures Delight™ Flower Shop, LLC, it is based on the location of our business and other factors as it relates to flower shop start – ups in the United States;
- First Fiscal Year-: $50,000
- Second Fiscal Year-: $150,000
- Third Fiscal Year-: $450,000
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same products and customer care services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
Before choosing a location for Natures Delight™ Flower Shop, LLC, we conduct a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of Orlando, Florida.
We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time.
We hired experts who have good understanding of the florist industry / flower shop line of business to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Orlando.
In other to continue to be in business and grow, we must continue to sell the flowers and related products that are available in our shop which is why we will go all out to empower or sales and marketing team to deliver. In summary, Natures Delight™ Flower Shop, LLC will adopt the following sales and marketing approach to win customers over;
- Open our flower shop in a grand style with a party for all.
- Introduce our flower shop business by sending introductory letters alongside our brochure to organizations, religious centers, funeral homes, event planners, households and key stake holders in Orlando, Florida
- Ensure that we have a wide range of flowers (natural and artificial) and other related merchandize in our shop at all times.
- Make use of attractive hand bills to create awareness and also to give direction to our flower shop
- Position our signage / flexi banners at strategic places around Orlando
- Position our greeters to welcome and direct potential customers
- Create a loyalty plan that will enable us reward our regular customers
- Engage on road shows within our neighborhood to create awareness for our flower shop.
11. Publicity and Advertising Strategy
Despite the fact that our flower shop is well located, we will still go ahead to intensify publicity for the business. We are going to explore all available means to promote Natures Delight™ Flower Shop, LLC. Natures Delight™ Flower Shop, LLC has a long term plan of opening outlets in various locations all around Florida which is why we will deliberately build our brand to be well accepted in Orlando before venturing out.
As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand. Here are the platforms we intend leveraging on to promote and advertise Natures Delight™ Flower Shop, LLC;
- Place adverts on community based newspapers, radio stations and TV stations.
- Encourage the use of word of mouth publicity from our loyal customers
- Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook ,Twitter, LinkedIn, Snapchat, Badoo, Google+ and other platforms to promote our business.
- Ensure that our we position our banners and billboards in strategic positions all around Orlando, Florida
- Distribute our fliers and handbills in target areas in and around our neighborhood
- Contact corporate organizations, households, religious centers, funeral homes and event planners et al by calling them up and informing them of Natures Delight™ Flower Shop, LLC and the products we sell
- Advertise Natures Delight™ Flower Shop, LLC business in our official website and employ strategies that will help us pull traffic to the site
- Brand all our official cars and vans and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals.
12. Our Pricing Strategy
Pricing is one of the key factors that gives leverage to retailers and flower shops, it is normal for consumers to go to places (flower shops) where they can get flowers and related merchandize at cheaper price which is why big player in the florist industry will continue to attract loads of consumers. Products in their store are tagged with the cheapest price you can get anywhere in the United States.
We know we don’t have the capacity to compete with bigger and well – established flower shops, but we will ensure that the prices of all the products that are available in our flower shop are competitive with what is obtainable amongst flower shops within our level.
We are aware that there are contracts for flower supply by government, sports organizations or big religious organization; we will ensure that we abide by the bidding pricing template when we bid for such contracts.
- Payment Options
At Natures Delight™ Flower Shop, LLC, Our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that will be available in every of our outlets;
- Payment by cash
- Payment via Point of Sale (POS) Machine
- Payment via online bank transfer (online payment portal)
- Payment via Mobile money
- Payment with check from loyal customers
In view of the above, we have chosen banking platforms that will help us achieve our payment plans without any itches.
13. Startup Expenditure (Budget)
In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business.
The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting a flower shop business; it might differ in other countries due to the value of their money. This is the key areas where we will spend our start – up capital;
- The Total Fee for Registering the Business in Orlando, Florida – $750.
- Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
- Marketing promotion expenses for the grand opening of Peak Lane Grocery Store, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
- Cost for hiring Consultant – $2,500.
- Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
- Cost for payment of rent for 12 month at $1.76 per square feet in the total amount of $105,600.
- Cost for Shop remodeling (construction of racks and shelves) – $20,000.
- Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
- The cost for Start-up inventory (stocking with a wide range of flowers (both natural and artificial, flower pots, and other related merchandize) – $100,000
- Cost for store equipment (cash register, security, ventilation, signage) – $13,750
- Cost of purchase and installation of CCTVs: $5,000
- The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al): $4,000.
- The cost of Launching a Website: $600
- The cost for our opening party: $5,000
- Miscellaneous: $5,000
We would need an estimate of $250,000 to successfully set up our grocery store in Orlando, Florida. Please note that this amount includes the salaries of all the staff for the first month of operation.
Generating Funding / Startup Capital for Natures Delight™ Flower Shop, LLC
Natures Delight™ Flower Shop, LLC is a private business that is solely owned and financed by Bernie Vandross and family. They do not intend to welcome any external business partners, which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources.
These are the areas we intend generating our start – up capital;
- Generate part of the start – up capital from personal savings
- Source for soft loans from family members and friends
- Apply for loan from my Bank
N.B: We have been able to generate about $100,000 (Personal savings $70,000 and soft loan from family members $30,000) and we are at the final stages of obtaining a loan facility of $150,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.
14. Sustainability and Expansion Strategy
The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.
One of our major goals of starting Natures Delight™ Flower Shop, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to retail our flowers, flower pots and other related merchandize a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
Natures Delight™ Flower Shop, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re taining of our workforce is at the top burner.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List / Milestone
- Business Name Availability Check:>Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Leasing of facility and remodeling the shop: In Progress
- Conducting Feasibility Studies: Completed
- Generating capital from family members: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In Progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and around the community: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Opening party / launching party planning: In Progress
- Compilation of our list of products that will be available in our shop: Completed
- Establishing business relationship with vendors – suppliers of flowers, flower pots and related merchandize – In Progress