Flower Shop Business Plan Template

Flower Shop Business Plan Template

If you want to start a Flower Shop business or expand your current Flower Shop, you need a business plan.

The following Flower Shop business plan template gives you the key elements to include in a winning Flower Shop business plan.

You can download our flower shop business plan template (including a full, customizable financial model) to your computer here.

 

Sample Flower Shop Business Plan Template

Below is a flower shop business plan example with each of the key sections to help you write a flower shop business plan for your own company.

I. Executive Summary

Business Overview

[Company Name], located in [insert location here], is a new flower shop that will provide fresh cut flowers, arrangements, bouquets and small plants. [Company Name] will provide flowers for many different occasions including weddings, Valentine’s Day, corporate gatherings, anniversaries and funerals. It will also provide same-day, home delivery services to customers within a 10-mile radius of the shop.

Products Served

[Company Name] will provide the following products and services for multiple occasions:

• Fresh flowers
• Floral arrangements
• Potted plants
• Corsages
• Event Flowers

Customer Focus

[Company Name] will serve the residents living within a 10-mile radius of the business location. The Company will also serve businesses, local organizations, weddings and other local events. The demographics of the customers are:

• Local Residents: 67,394
• Average Income: $45,800
• Businesses: 1,750
• Median Age: 35 years

Management Team

[Company Name] is led by [Founder’s name], who has been in the floral industry for [xx] years. During his career, he has worked for high-profile clients and flower shops across the US. Considering his extensive expertise, it won’t be difficult for him to open a flower shop business.

Success Factors

[Company Name] is qualified to succeed due to the following reasons:

• There is currently a high demand for flowers and floral bouquets in the community due to the rise in the trend of gifting flowers on multiple occasions. In addition, the shop has surveyed the local population and received highly positive feedback pointing towards an explicit demand for the products, supporting the business after launch.
• The Company’s location is in a high-volume traffic area and will thus be highly convenient to a significant number of people visiting nearby.
• The management team has a track record of success in the floral business.
• Flower shops are a proven business and have succeeded in communities throughout the US.

Financial Highlights

[Company Name] is currently seeking $190,000 to launch its flower shop. Specifically, these funds will be used as follows:

• Store design/build: $100,000
• Working capital: $90,000 to pay for marketing, salaries, supplies, initial inventory and lease costs until [Company Name] reaches break-even

Top line projections over the next five years are as follows:

 

II. Company Overview

Who is [Company Name]?

[Company Name], located in [insert location here], is a new flower shop that will provide fresh cut flowers, arrangements, bouquets and small plants. [Company Name] will provide flowers for many different occasions including weddings, Valentine’s Day, corporate gatherings, anniversaries and funerals. It will also provide same-day, home delivery services to customers within a 10-mile radius of the shop.

[Company Name]’s History

[Founder’s Name] is an experienced florist with a successful career in the flower industry. He has also majored in flower farming and attained a floral design certification. Having worked for various famous shops and companies across the United States, he has an immense understanding of the procedures required for starting a flower shop business. With his experience and knowledge, [Founder’s Name] is positive about the launch of the flower shop.

[Founder’s Name] has selected an initial location and is currently undergoing due diligence on each property and the local market to assess the most desirable location for the flower shop.

Since incorporation, the company has achieved the following milestones:

• Developed the shop’s name, logo, and website
• Created the list of products that will be available in the shop
• Began recruiting key employees with experience in the floral industry

[Company Name]’s Products

[Company Name] will provide the following products and services for multiple occasions. [Company Name] will also provide the service of delivering flowers within a 10-mile radius of the shop on the same day to the customer’s doorstep.

• Fresh flowers
• Floral arrangements
• Potted plants
• Corsages
• Event Flowers

 

III. Industry Analysis

[Company Name] competes against small, individually owned flower shops and major chains. The US floral industry consists of more than 60,000 small businesses, such as growers, wholesalers, retailers, distributors, and importers. The market size of the US florist industry is estimated at $5 billion. Modernization and growing western cultural influences have driven consumers to buy flowers on several occasions like Valentine’s Day, anniversaries, birthdays, Mother’s Day, Father’s Day, etc.

 

IV. Customer Analysis

Demographic Profile of Target Market

[Company Name] will serve the residents of [company location] and its surrounding areas. The area residents it will serve are affluent and expected to spend more on flowers than the national average.

The precise demographics of the town in which the retail location resides is as follows:

Customer Segmentation

​​The Company will primarily target the following customer segments:

• High-Income Individuals: The Company will attract people with high-income who have the disposable income to spend more on flowers per capita than the national averages.
• Local professionals: The Company will attract local professionals who work in offices within a quarter mile of our location, and we expect a fair portion of these individuals to frequent the shop
• Local residents: Approximately 1,000 residents live near the surrounding area and a majority will frequent the establishment.

 

V. Competitive Analysis

Direct & Indirect Competitors

Blooms
Blooms is the town’s most popular flower shop and has been in business for 32 years. Blooms offers a wide array of services that one would expect from a flower shop. Besides offering floral services, Blooms also provides event management services. The shop provides everyday flowers, a selection of plants and flowers for large scale events.

Petals
Petals provides its customers with multiple pre-arranged floral bouquets perfect for on the go buyers. It provides custom-design services for special occasions and events. It also delivers flowers to local households and businesses.

Floral Agents
Floral Agents was established in 1995. Floral Agents’s current location is in [location], which is filled with restaurants, pubs, salons, and barbershops. Floral Agents caters to high-end business clients for their large corporate events. It also provides floral services for private events including weddings and parties.

Competitive Advantage

[Company Name] enjoys several advantages over its competitors. These advantages include:

• Management: The Company’s management team has xx years of business and marketing experience that allows them to market and serve customers in an improved and sophisticated manner than the competitors.
• Relationships: Having lived in the community, [Founder’s Name] knows all the local leaders, newspapers, and other influences. As such, it will be relatively easy for [Company Name] to build brand awareness and an initial customer base.
• Great products at an affordable price: The complete array of floral products and services offered by [Company Name] nearly equals the most premium positioned competitor, [Competitor Name]. However, [Company Name] will offer these services at a much more affordable price.
• Location: [Company Name]’s location is near the center of town, giving the company access to many passersby.
• Specialized and Customized Floral Decoration and Floral Bouquets: [Company Name] will provide specialized and customized floral decoration and bouquets, which will help target a wide variety of clientele’s tastes and preferences.

 

VI. Marketing Plan

You can download our flower shop business plan template (including a full, customizable financial model) to your computer here.

The [Company Name] Brand

[Company name] seeks to position itself as a respectable, upper-middle-market competitor in the flower shop industry. Customers can expect to receive beautifully crafted and customized flowers.

The [Company Name] brand will focus on the Company’s unique value proposition:

• Management
• Convenient location
• Great products at an affordable price
• Customer relationships
• Specialized and customized products

Promotions Strategy

[Company Name] expects its target market to be residents and businesses within a 10 miles radius, as well as weddings and events. The Company’s promotions strategy to reach the audience includes:

Advertisement
Advertisements in print publications like newspapers, magazines, etc., are an excellent way for businesses to connect with their audience. The Company will advertise its company offerings in popular magazines and news dailies. Obtaining relevant placements in industry magazines and journals will also help in increasing brand visibility.

Social Media Marketing
Social media is one of the most cost-effective and practical marketing methods for improving brand visibility. The Company will use social media to develop engaging content in terms of various forms and technologies of the floral industry and post customer reviews that will increase audience awareness and loyalty.

Customer Loyalty Programs
[Company name] will create a winning customer loyalty program to keep its best customers coming back again and again. When not actively providing services to customers in the store, the professionals and other employees will make periodic, regular phone calls to customers. Long-term customers will have the opportunity to participate in the loyalty program, and referrals will be rewarded as well.

Special Offers
Offers and incentives are an excellent approach to assisting businesses in replenishing the churn in their customer base that they lose each year. The Company will introduce special offers to attract new consumers and encourage repeat purchases, which will be quite advantageous in the long run.

Pricing Strategy

[Company Name]’s pricing will be moderate so that customers feel they receive great value when availing of the floral products and services. The customer can expect to receive flowers and floral bouquets and floral decoration services for a more affordable price than what they pay at an ultra-premium flower shop.

 

VII. Operations Plan

Functional Roles

To execute on [Company Name]’s business model, the company needs to perform many functions, including the following:

Service Functions

• Florist
• Cashier
• Store Manager

Administrative Functions

• General & administrative functions including legal, marketing, bookkeeping, etc.
• Product and Inventory management
• Hiring and training staff

Milestones

[Company Name] expects to achieve the following milestones in the following [] months:

 

VIII. Management Team

Management Team Members

[Company Name] is led by [Founder’s Name], who has been in the floral business for xx years. While [Founder] has never run a retail store himself, he has extensive experience working with various flower shops for the past xx years. As such, [Founder] has an in-depth knowledge of the floral business, including design, marketing and operations.

[Founder] graduated from the University of ABC where he majored in design.

Hiring Plan

[Founder] will serve as the store manager. To launch the flower shop and as dictated by demand and operational maturity, [Founder] will consider hiring the following personnel:

• Florists
• Shop Manager
• Accountant
• Cashiers

 

IX. Financial Plan

Revenue and Cost Drivers

[Company Name]’s revenues will come from the sale of flowers, bouquets, and event decoration.

The major costs for the company will be supplies and employee salaries. In the initial years, the company’s marketing spend will be high, as it establishes itself in the market. Moreover, rent for the prime location is also one of the notable cost drivers for the [Company Name].

Capital Requirements and Use of Funds

[Company Name] is currently seeking $190,000 to launch its flower shop. The capital will be used for funding capital expenditures and location build-out, hiring initial employees, marketing expenses, and working capital.

Specifically, these funds will be used as follows:

• Store design/build: $100,000
• Working capital: $90,000 to pay for marketing, salaries, supplies, initial inventory and lease costs until [Company Name] reaches break-even

Key Assumptions

The following table reflects the key revenue and cost assumptions made in the financial model:

 
5 Year Annual Income Statement

 
5 Year Annual Balance Sheet

 
5 Year Annual Cash Flow Statement