The average cost in starting up a flower shop in singapore

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Starting a flower shop is not just skills and passion for flowers and arrangements but also the capability to shoulder the costs and expenses. According to Little Flower Hut online flower delivery company, the average cost of starting up a flower shop ranges from $10,000 to $20,000 or higher. If you are planning to start your own flower shop, there are several things that you have to expect for the costs and expenses. Being a professional florist is a big help, however, having the capital will make your flower shop push through. Depending on the following items, the average cost to start up a flower shop may vary.

  • Location of the Floral Shop

Are you planning to buy or lease a unit at the mall for the shop, or do you prefer to have a stall in your garden at home? Deciding on location is very important in starting up a flower shop. A good location allows you to get good foot traffic, thus yields higher sales and income. Location within proximity to church, hospital, funeral homes, and offices is a good choice. On the other hand, good locations, especially in commercialized areas, are probably more expensive in terms of rentals. For your start-up cost, it is best to have enough capital to cover from 3 to 6 months of rental fees.

  • Equipment, Furniture and Fixtures

The average cost in starting up a floral shop should include a large amount for the equipment, furniture, and fixtures. Your shop will need tables, chairs for customers and staff, and workplace furniture to use to assemble flowers. You will need refrigeration system in the shop and in your vehicle for delivery purposes. You will also need several containers to store fresh flowers. Aside from the equipment needed to keep and store flowers, you will also need to set up some equipment for the counter, for the display of flowers, and for disposal of waste. Computers and cashier are also essential. Depending on the brand and specifications, the cost for these materials may sum up to $3,000 to $5,000.

  • Flower Arranging Tools and Supplies

There are numerous supplies needed in arranging flower bouquets. Tools like scissors, ribbons, tape, knife, floral tape, stapler, staple wire, floral wire, floral foam, plastic flower wraps, paper flower wraps, flower vases, greeting cards and card messages, and more. Buying these items in large bulk will cost you significant amount to save. $300 to $500 would be enough to have supplies for a long while.

  • Flowers

For a startup purposes, you may want to have just a few of each type of fresh flowers available on season. Some suppliers and farmers of flowers sell these flowers for amazing deals when purchased in bulk or in wholesale. If you want to get the best quality of flowers, it will be of great help if you will find and keep several suppliers. Moreover, the cost of flowers may vary every now and then depending on season, supply, and demand. It takes proper inventory monitoring and management to have the right types of flowers at the right time. Storing a large bulk of flowers in the shop may not be an advantage because flowers tend to wither after a week, ending up being thrown to trash bins. Artificial flowers, on the other hand, can stand for a long period of time.

  • Labor and employment

Another item to include in the startup cost of a flower shop is labor and employment. Your capital should be enough to cover the salary of your staff for 3 to 6 months of operation. In case profit is not yet stable, the operation of your flower shop will continue as you pay your staff on time. If you are a professional florist and you prefer to practice hands-on management, you can choose to hire part timer florists at a low salary rate. On the other hand, hiring an efficient staff is also an advantage to your business.

  • Marketing and advertising

Marketing and advertising costs can be maximized for your profit. You will gain customers through effective marketing and advertising strategies. If you are running a website, you will need to pay for the listing or for local yellow pages list. Online advertisements are also at a cost but will surely yield more income. If you have social media accounts, one way to attract customers to purchase flowers is to invite them to like and share your profile in exchange for discounts. Traditional marketing and advertising techniques can also be applied. You can give flyers, prints, tarpaulins, and reading materials to market your flower shop.

  • Business Legalities

To start a business, you also need to pay for expenses for legalities and permit to operate.  You need to furnish the local government or the municipality with complete papers and documents needed for you to acquire permit to operate your flower shop. There are things that you have to consider as well.

Starting up a flower shop is not an easy task. You will need significant amount of money for the capital. With enough funds, you will be able to operate your shop smoothly. You may not need millions to get started but you have to be careful because mismanagement may cause the business to fail. This is not only about creating beautiful flower arrangements but about the right strategies because flowers are perishable. With the startup costs, you can make money out of your flower shop.