how earn a good profit for business???

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

  1. leokhan

    leokhan
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    Hello, knuxie1135
    Nice & awesome idea of opening a flower shop. In this long discussion you have got quiet good suggestions from different members. From my point of view, you should require to take a look at your budget. And with this you should aware of your planning for the business. Remember one more thing that is marketing, because this will make a brand of your shop. And apart from that good luck for your beautiful business.
     
  2. amwarner

    amwarner
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    It's good to budget and all of that stuff but technically speaking, wouldn't ANY profits be good profits for a business. And when you make a profit, do the same thing over and over again to make even more profits.
     
  3. anubhavsharma78

    anubhavsharma78
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    Plan everything prior just keep it a bit flexible for conditional changes
    Set goals
    Cooperate
    Get ideas about your business
    Market research
    Customer feedback
     
  4. nidhisharma091

    nidhisharma091
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    If you are planning to open a flower shop,first of all you need to build a site for that on which you can mention your contact number and address..anyone on google can easily find out you...like as a done with my websites..
     
    #24 nidhisharma091, Mar 20, 2015
    Last edited by a moderator: Mar 20, 2015
  5. Ward Weaver

    Ward Weaver
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    Planning in my view is everything as if we want to setup a good business then prior work is the best important thing and if we do that correctly then everything else is going to fell in place itself but if we have trouble over that then it will hurt and make everything really difficult so we should always get plans right and have kind of goal that we want to achieve.
     
  6. UCkeith

    UCkeith
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    Some GREAT points. I would like to add one that I learned about from a statements by Donald Trump and Mark Cuban. I heard both of them say that they add a percentage in their costs of goods sold or within the budget for profit. For example, by adding 5 or 10% profit within the cost of the product or service being sold you will always have a fixed profit margin. Then pay your expenses from the net revenue (costs + profit) versus the gross revenue. Keep in mind, the difficult part is to take that profit and put it into a separate bank account earmarked for profit.

    IMHO - I thought it is good advise.
     
  7. furnacerumble324

    furnacerumble324
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    The first thing to ask is that, having a flower shop is your passion? If it is you will start to plan in your budget like the area where you put your flower shop, the staff and the flowers on where you can find a distributor.Try to look all of it and start to allocate budget in every piece of it.
     
  8. Tonylest75

    Tonylest75
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    First of all congratulation on your decision to open a flower shop. As we know that this business requires an eye for color as well as scale and knowledge about how to create bouquets, corsages and other items. Approximately the cost to open a flower shop is between $10,000 and $50,000. And this costs will differ form depending on whether you start the business out of your home or rent retail space and how many items you purchase used versus new. You also need a website as well as catalog as your storefront.
     
  9. piapetersson

    piapetersson
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    Earning good from any business depends on how well you have planned.The way you plan your business future determines your profit /loss, basics start with risk management, competition analysis, scope, financial support for start up and most important basic operations of any business.
     
  10. piapetersson

    piapetersson
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    Sounds good, simply remember before starting any business plan it well. Planning includes working capital, scope of your business. All the best
     
  11. M.Ehrmantraut

    M.Ehrmantraut
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    And sadly, hospitals - I live/work near the Medical Center here in Houston and it is crazy the amount of flower shops nearby.
     
  12. dev_share

    dev_share
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    Good luck to your business, If you still don't know where to start, find a mentor who can coach you.
     
  13. navarromarillou

    navarromarillou
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    First get some place that nearest or place in the public place, by doing this many people can see your items to sell, hired person who can create a very unique design for your flowers shop. Tell your friends, relatives, family that tell to their friends to buy in your shop.
     
  14. Damien Lee

    Damien Lee
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    The key thing to retaining a profitable business is to be vigilant with your expenses. You do need to spend money in order to make money but you must be careful no to overdo it and reign in unnecessary expenses. Never spend money on goods and services your business doesn't need. And never hire more staff than what is required by your business. Be prepared to fill in as many positions in the business as you can in order to save money.
     
  15. mike_smith

    mike_smith
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    Study your business market perfectly before you want to start your business. Make your business plan, advertise your business with online, offline techniques. Make your professional business cards with your business plans and offers on your card. Try to attract your clients with your offers and discounts.
     
  16. david14beck

    david14beck
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    In this era there are some major points you should consider like marketing research, whats scope of the business in that particular area. second thing your business marketing, its important for success of your business. the third thing in my mind is business insurance, you don't know what can affect your business in future so always consider insurance when thinking about new business.
     
  17. David Beck

    David Beck
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    Being a business owner you need to look out for new ways how to increase profit for business.

    1.Paid advertisements: If you have a website that has a lot of traffic thus being in a partnership with similar company would be beneficial.You could earn profit by having advertisement on your website.

    2.Free or discounted offers: Depending on your business,giving discounts to the customers would be advantageous.

    3.Consulting fees: If you are expertise in your field then you can guide people how to run a business.You could charge for your seminars and webinars and earn profit.

    4.Referrals:Generating revenue from clients that already know your brand is cost effective.If you provide superior experience to your clients they will provide you with more referrals.

    5.Learning new skills: Learning new skill would enhance your knowledge.You can learn new IT skills,improve public speaking which would help to a create new customers for your business.
     
  18. florenceclarke

    florenceclarke
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    The startup of business needs a perfect model and investment plan. As you mentioned about flower shop. I think, you need to do market research and what people mostly like to buy. According to that analyzation, you can be settled down your business budget. For right track, you should understand about finance and account terms(if required).

    The most important to thing to collect data and summarize it for finding the best conclusion.
     

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