Are you busy making flowers, filling orders and working all week, but still wondering where the profit actually went?
Pricing is one of the biggest challenges in floristry, and in this episode of The Flowery Folk Podcast I chat with Melissa Westcott, florist, business owner and founder of Florist IQ, about how florists can get much more confident with their numbers.
Melissa came into floristry with a strong business background, but even she found pricing flowers consistently difficult. That frustration eventually led her to develop Florist IQ, a pricing tool designed specifically for florists.
But this conversation goes well beyond software.
We talk about why simply using a standard 3 or 3.5 times markup may not work for your business, why being incredibly busy does not necessarily mean you are profitable and how easily seemingly small things like greenery, ribbon, cello, cards and extra stems can quietly eat away at your margins.
Melissa also explains why florists need to understand the actual margin their individual business requires, taking into account overheads, staff, cost of goods, wages and the profit they want to make.
• How to price flowers correctly in a floristry business
• Why there is no one-size-fits-all markup for florists
• The difference between being busy and being profitable
• Why florists so often undercharge for their work
• Charging properly for greenery, sundries and all those little extras
• How changing flower costs affect your retail pricing
• Designing beautiful flowers while staying aware of price
• Getting staff to price consistently
• What to do if your prices are currently too low
• Gradually increasing your floristry prices without making one huge jump
• Understanding your margin, overheads, wages and profit
• Paying yourself properly as a business owner
• How Florist IQ was developed and how it works
• Melissa's plans for adaptive ordering, waste tracking and future integrations
One point I particularly loved from this chat is Melissa's reminder that your business can look incredibly busy from the outside and still not be making enough money.
And if that feels familiar, this episode is definitely worth a listen.
Website: www.florist-iq.com.au
Email: hello@florist-iq.com.au
Instagram: @floristiq_software
Melissa also mentions the free margin tool available through Florist IQ, which can help you start looking at what margin your own business actually needs.
Profit First by Mike Michalowicz
Melissa and I both recommend this one for business owners wanting to get a better handle on paying themselves, allocating expenses and making profit an intentional part of the business.
This episode of The Flowery Folk Podcast is proudly sponsored by Flowers Magazine Australia, an independent Australian digital publication connecting florists, growers, wholesalers, educators and others across the cut flower industry.
www.flowersmagazine.com.au
Instagram: @flowersmagazineaustralia
The Flowery Folk Podcast is for florists, floral designers, growers, students and flower lovers looking for practical floristry knowledge, creative ideas and real conversations from across the flower industry.
Explore our podcast, floristry resources and upcoming online Flower School at:
www.thefloweryfolk.com
Instagram: @thefloweryfolk
