It is SO possible to make a satisfying amount of money in your floral business and create time and space in your life so that you can do the things you dream of doing (spending more time with friends and family, travel, etc)!
Let me tell you my story.
About three years ago I started my Floral Design business on the side while still remaining as a High School teacher. I was doing it on the side because I was desperately trying to find a "job" that would allow me to have more time in my life for the things that mattered to me. I dreamed of quiet afternoons sipping tea and reading a book! I was so over being tired, stressed and anxious about going to work. Crazily enough, I thought that running a business would change all of this because I would have full control of my time. I could say "yes" to jobs that worked in with my desired schedule and "no" to those that didn't. It sounded perfect.
I quickly fell in love with flowers and decided to quit my "salary job" and take the plunge into running my own business. Not knowing much about business at all, I had the goal to replace my teaching wage with what I earned from flowers. I thought if I started an instagram, posted a few photos and grew my following I would get clients and my business would flourish! I soon realised that it was SO much harder than I ever imagined! In my first year I discovered, while rushing my finances for tax (because I wasn't keeping any proper records), that I made an embarrassing profit! When I showed my husband and a close friend of mine, they commented "your sales were good, but your spending was even better!" It was so true! I was getting the sales, the money was coming in, but the money was also going out! And I think that's the biggest challenge for a florist (and other creatives)- knowing how to pricing for margin (not just at a price you think people would want to pay). Some people said "well you had heaps of start up costs". But I didn't. I didn't even buy a fridge! For some reason I thought I would earn more money if I just didn't spend money on all the pieces of equipment that are actually essential to running my business. I struggled for so long without the basic necessities to run my business (like a printer!) I categorised my spending and I'm spending more now, than I was when I first started my business.
Through a lot of education, research, podcasts and money spent($10,000), I learnt how to structure and run my business to actually make a profit and replace my teaching income, for real (not just in my dreams and imagination). And of course, while keeping in mind what motivated me to start my own business in the first place- more TIME. It hasn't really been a matter of 'hustle harder" for me in my business, it's been all about learning my figures, structuring my finances, pricing correctly and creating streamline processes that make my business run smoother, more efficient and definitely more profitable. I'm proud to say, that I now feel great about quitting my job and I no longer have the guilt or fear of not making any money, because I'm able to contribute what I used to contribute to our household and it's only getting better from here! I also now have a budget for the things that I need to run my business. I bought fridges, a printer, vases, tables and I set up a home studio. Here is how my business has been impacted by these changes only just recently:
- I've replaced my teaching income
- I quadrupled my profit margin in 1 year
- I tripled my client price average
- I've reduced the amount of clients I need, giving me more time for what's important
- I have money that I can spend on growing my business
- I have three casual staff members who have increased the amount of money I can make
I've started sharing the strategies I've learnt with others and I've loved seeing the difference it makes in their businesses in even just a week or two.
Contact me if you want to learn to:
- Make more money in your business
- Stop pricing emotionally!
- Strategically place yourself in the market to attract your ideal client
- Create streamline processes so you're more efficient & effective with your time
- Get on top of your emails by implemented my new email strategy
- Create a client process so that you remain the leader of your clients (not the other way around!), by learning to stay on top of all the tasks required to execute a successful wedding.
- Review, analyse and improve your portfolio and/or website design
- Create a sales strategy to improve your enquiry to booking ratio
- Establish your unique, signature style that will stand out among your competitors
If you are starting in the business I can also help with the following:
- Website, logo & branding
- Basic floral design skills (wiring, flower crowns, corsages, tables, arbours or whatever else you may be fearful of doing for the first time)
If you like the sound of it, but you're still not sure, sign up to my newsletter and receive some free tips