how earn a good profit for business???

Discussion in 'Growing and Managing a Business' started by knuxie1135, Oct 30, 2012.

  1. knuxie1135

    knuxie1135
    uix_expand uix_collapse
    New Member

    Joined:
    Oct 30, 2012
    Messages:
    4
    Likes Received:
    0
    I am a planning to become an enterprenuer. I don't know how to allocate my budget. can you help??? I am planning to open a flower shop at our place.



    Regards,
    knuxie
     
  2. ArcSine

    ArcSine
    uix_expand uix_collapse
    Member

    Joined:
    Jun 2, 2010
    Messages:
    233
    Likes Received:
    187
    Greetings and welcome to the forum, Knuxie.

    First off, where are you in the planning process? The budgeting / planning exercise usually has a number of stages to it, and knowing what you've already accomplished is helpful to anyone in giving you more on-point advice.

    Very generally, the budgeting process starts with a forecast of your sales. More often than not, a budget comes together in a sequence of stages like falling dominoes, and the sales forecast is the first domino. With the sales projections in place, they then determine your asset and expenditure needs. This then leads to your financing planning.

    Google for "business plans" and spend some time reviewing several of the many hits you'll land on. You'll be able to see how other businesses have put together their budgets and plans, and this will give you valuable insights into planning your own operation.

    I'd also recommend looking into any floral industry trade groups (whether local, regional, or national). For example, here is a compilation of some floral groups and associations.

    Here's another site I randomly came across. It may or may not be helpful (I know nothing about this site), but ya never know.

    Best of success with it. Keep us posted on the progress, and on any other matters you'd like to discuss.
     
    • Like Like x 1
  3. renegadeleader

    renegadeleader
    uix_expand uix_collapse
    Member

    Joined:
    Sep 18, 2012
    Messages:
    99
    Likes Received:
    7
    Good luck to your business, If you still don't know where to start, find a mentor who can coach you.
     
  4. wasi90lk

    wasi90lk
    uix_expand uix_collapse
    Member

    Joined:
    Oct 31, 2012
    Messages:
    35
    Likes Received:
    2
    You need to create a budget, that is realistic. Write down all the expenses and write down how much you are expected to earn.
     
  5. Justinjude

    Justinjude
    uix_expand uix_collapse
    Member

    Joined:
    Oct 18, 2012
    Messages:
    57
    Likes Received:
    9
    Hi Knuxie,
    I welcome you to the forum. Opening a flower shop is an all time favorite business giving profits all the year round. You need to consider the options suggested below:-

    1- You need to find a suitable location for your business. A marketplace where people can see colorful flowers can attract many customers.
    2- Make sure you have adequate supply of water to keep the flowers fresh.
    3- Advertise your flower shop on the local magazines.
    4- Tie up with local businesses.
    5- If you have a good budget then you may try starting an online flower shop. For this you will need good tie up with local flower vendors and a payment gateway to allow the customers pay you online.
    6- Make your shop unique by importing different flowers.
    7- Attract customers by special flowers for special occasions.

    Best of Luck! :D
     
  6. Fransisca2

    Fransisca2
    uix_expand uix_collapse
    New Member

    Joined:
    Feb 5, 2013
    Messages:
    12
    Likes Received:
    0
    Opening a flower shop is an interesting idea, good luck.
     
  7. richardw

    richardw
    uix_expand uix_collapse
    New Member

    Joined:
    Feb 8, 2013
    Messages:
    9
    Likes Received:
    2
    Hi Knuxie!

    If budgeting is the culprit, then get a budget management tutorial or class if you can. Alternatively, you can search for flower shop case studies and white papers online. Read and learn from them. I am sure there are many of them. In fact, a good example can be found when you search for the term "Florist Sample Business Plan."
     
  8. sadiyakhan

    sadiyakhan
    uix_expand uix_collapse
    Member

    Joined:
    Dec 6, 2012
    Messages:
    40
    Likes Received:
    5
    If you want to open a flower shop then it will be one of the good idea for the business. Make sure of your flower supplier and whole seller and it also depends where you want to start your business. You need to analysis the competition of whole area the mean is only that just utilize the science in your business you will get all things.
     
  9. Leejeong

    Leejeong
    uix_expand uix_collapse
    Member

    Joined:
    Sep 13, 2012
    Messages:
    148
    Likes Received:
    46
    Know what are your needs and requirements on putting up flower shop. It start with the renovation of the store that will give a decent look of a flower shop. Business permits is also important.

    To allocate your budget; you have to consider;
    Capital,
    processing fees for your business permits,
    payment for rent, (if you don't own the store)
    budget for maintenance for stores, vehicle,
    gasoline if you have delivery,
    salaries of employees (if you will hire)
    electric, water, telephone bills etc.
    extra budget for insurance of your business.

    There it goes the budgeting and allocating funds to expenses.
     
    • Like Like x 1
  10. partho

    partho
    uix_expand uix_collapse
    Member

    Joined:
    Jan 7, 2013
    Messages:
    102
    Likes Received:
    0
    I would like to suggest you before opening any business just try to know how much competition in business and what unique thing should you do so that you can give good service to your customer or client so that your market demand also go high
     
  11. josephinesharla

    josephinesharla
    uix_expand uix_collapse
    New Member

    Joined:
    Jan 7, 2013
    Messages:
    12
    Likes Received:
    1
    For earning good incomes and getting success in any business there are some rules and regulations are exist, by following those things we can easily get the desired profits. First you need to choose the best location for starting your flower business, then budget your amount and check is there any competition is exist or not.
     
  12. edwardbaden

    edwardbaden
    uix_expand uix_collapse
    New Member

    Joined:
    Jun 4, 2013
    Messages:
    5
    Likes Received:
    0
    Ensure you are located near to your target market so that they can purchase your flowers - as they are perishable products you will risk high levels of wastage if you cannot sell your flowers.
     
  13. Ronei Daselva

    Ronei Daselva
    uix_expand uix_collapse
    Member

    Joined:
    Jul 27, 2012
    Messages:
    106
    Likes Received:
    4
    opening new flower shop as you don't mention were you opening the shop.
    See that location have higher density of people to get your business run and your budget will decide how many different varieties of flower do you have. key is the more the unique and attractive flower you have the more customer come to the shop.
     
  14. TimeRider

    TimeRider
    uix_expand uix_collapse
    Active Member

    Joined:
    Apr 6, 2008
    Messages:
    2,761
    Likes Received:
    416
    I don't think flower shop will cost you high sum of money. You can ask people locally or find someone who has done that Business. For this kind of business, Profit lies in attraction of flowers how well you decorate them and attract your customers to buy them.
     
  15. bethw

    bethw
    uix_expand uix_collapse
    Member

    Joined:
    Feb 2, 2013
    Messages:
    56
    Likes Received:
    5
    your small business can make a profit if you are careful in your planning and your spending. Keep your overhead low. Working at home or sharing an office space will reduce your overhead costs.
    Keep a close eye on your expenditures. Before spending money on anything, determine whether it is necessary for the operation of your business and whether it fits in your current budget.
     
  16. Julie

    Julie
    uix_expand uix_collapse
    New Member

    Joined:
    May 27, 2013
    Messages:
    7
    Likes Received:
    1
    Starting a business in this economic situation and most importantly in so much competition is not so easy, as there are so many challenges which a new entrepreneur has to face. You need to analyze your market, audience, budget and different plans like for marketing, capturing new audience etc.
     
  17. singhlily

    singhlily
    uix_expand uix_collapse
    New Member

    Joined:
    Jun 5, 2013
    Messages:
    17
    Likes Received:
    0
    Best of luck for your business...
    As you don't know about budget then you should calculate you daily expenditure and some of monthly rental and then count it for month. it will help you in calculation of profit.
     
  18. Brian Smith

    Brian Smith
    uix_expand uix_collapse
    New Member

    Joined:
    May 29, 2013
    Messages:
    14
    Likes Received:
    0
    Hi Knuxie,

    This business is quite good. First of all, the location should be famous, supplier provides fresh supply on time, utility expenses and other expenses should keep in your mind. Make a good relationships with your neighbor and socially interact with people around you shop. Start working on your flower shop website and make you presence on social media website like Facebook, pinterest etc… add up your area audience. Branding factor make your business more successful.

    Regards,
    Brian
     
  19. legacyinmaking

    legacyinmaking
    uix_expand uix_collapse
    New Member

    Joined:
    May 20, 2013
    Messages:
    4
    Likes Received:
    0
    There are various online resources and business magazines from which you can take help to know about current business trends. You can get idea that which business will help you in earning more profit and various other useful business tips to get success in your business. You can also get help in knowing about your flower business.
     
  20. universalboschi

    universalboschi
    uix_expand uix_collapse
    New Member

    Joined:
    Jun 11, 2013
    Messages:
    9
    Likes Received:
    0
    According to me, First make a strategy and plans about work and budget then go ahead. Flower shop is more suitable near a community place like marriage home, park and party making place.
     

Share This Page