Expert Tips for Buying a Florist Business

Ready to get into the business of beautiful things? Flower shops offer a creative move into the entrepreneurial world. If you love all things florals, find yourself dreaming up gorgeous centerpieces, and understand the value of customer service, then buying a florist business may be right for you. Find out what to look for in a floral business below.

Is Buying a Flower Shop Right for You?

Purchasing an existing flower shop allows you to bypass many of the challenges of a startup. Instead, you’re able to skip some of the hard work with an established reputation, business plan, cash flow, and an existing customer base. Depending on the current owner, you may also benefit from their guidance or retaining trained staff to help you start on the right foot.

Still, it’s essential to know what questions to ask and what to look out for when evaluating a flower business. The following can help you start determining if an opportunity is right for you.

Why is the Current Florist Leaving?

One of the most important aspects to understand in any small business transaction is why the existing business owner is exiting the company. It’s not unusual for a florist to sell because they’re entering retirement, moving out of the area, or moving onto a new venture. However, if an owner is selling due to financial hardship, it’s best to take a closer look. The floral industry was hit hard by the global pandemic as complementary industries such as wedding services and funeral homes came to a halt. Still, these circumstances may set you up to negotiate a better deal.

What’s Included in the Sale?

A floral shop needs more than fresh-cut flowers! In addition to inventory, you’ll need equipment and supplies to keep things running smoothly. Coolers are one of the highest costs in opening a flower shop, so be sure to assess their condition. Additionally, if the floral business you’re evaluating offers delivery service, you’ll want to determine if a delivery van is included and, if so, what state it’s in.

Other Factors to Consider

In addition to the above, when you start looking at florist businesses for sale, you’ll want to find a shop that makes sense for your business ideas as a new owner. The following qualities can help you determine if a florist shop is likely to be successful.

• Location: Floral design businesses vary from one-person home-based businesses, bustling downtown storefronts, and franchise locations. If the sale includes real estate, you’ll want to ensure that it’s close enough to your target market and can encourage both repeat and new business.
• Customer Base: You probably have some ideas up your sleeve on how you want to position the business. Still, you’ll want to look at the existing customer base. Is the shop known primarily for wedding bouquets and elaborate floral arrangements, or does it offer various beautiful flowers to suit Mother’s Day, Valentine’s Day, and other holidays?
• Staff: Find out if the current employees plan to stay with the business. This aspect is crucial if you don’t have a ton of experience as a floral designer. Existing staff can help you adjust to your new role while maintaining consistency in flower arrangements. It’s also imperative to determine whether your duties require a full-time or part-time commitment for you as the shop owner.

If you’re ready to get into your own flower shop, consider working with the professionals at Sunbelt Business Brokers. Our business intermediaries offer an invaluable combination of local business information and global reach. Get in touch with your local office today for more insights on every step of the purchasing process!