Having spent so much more time at home, you may be one of the many people deciding that their current career path isn’t one worth pursuing anymore. Whether you’re lacking job satisfaction, profitability, or don’t feel like your expertise is being used effectively, you may find running your own florist franchise a much better option for you.
As a florist franchisee, your role will be just as much about generating sales as it is using your expertise to help customers. As a floristry franchisee, you will be working in a large and profitable industry, giving expert advice to customers and finishing every day knowing the flowers you sell will brighten up your customer’s lives.
When it comes to working in an industry as exciting as this, it’s easy to see why so many people are attracted to it. But why exactly should you make a career change with a florist franchisee?
Why make a career change with a florist franchise?
The specialist nature of flower retailing is likely to ensure that florists continue to be a strong presence in the market due to the skills required for complex floral arrangements and for catering for weddings, funerals and other functions
- Ibis World.
While many stores - including floristry businesses - were forced to close between various lockdowns, British businesses are looking to come back swinging. And florists are no exception. As part of a franchise, you’ll have an extensive amount of training and expertise to call on to help keep you at the top of this money-spinning industry. Not only that, you’ll be able to:
- Be your own boss
- Work to a tried-and-tested business model
- Have an already existing customer base
- Have plenty of training and support
- Have lots of job satisfaction
This is an exciting and profitable industry, so if it sounds like the right kind of opportunity for you, here’s how you can make a career change with a florist franchise.
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1. Understand the industry
Understanding the ins and out of the florist industry is part and parcel of creating a successful business opportunity. But when it comes to researching the industry, how wide should your research be? And what should you cover?
The answer is that it will depend on you. However, it’s always a good idea to consider some of the following areas of research:
- How is the industry faring post-Covid? Is it moving in an increasingly digital direction? How are franchises looking to capitalise on hybrid ways of working and selling?
- What are some of the biggest franchises operating in the sector? What are the advantages and disadvantages of each?
- What kinds of franchising costs and fees are there? How will you be able to finance these costs? What support is on hand to help you finance these fees?
- Are there any new trends changing the way the industry is operating?
There may be a whole host of other questions that interest you about becoming a florist franchisee so the best time to answer these enquiries is in this initial stage of your market research. Be clear on the smaller details of your business and your franchising journey will be smoother.
2. Narrow down your options
Of all the different franchises operating in the sector, you have to choose only one. If this sounds a little overwhelming, don’t panic. There are some key questions you should ask yourself before rushing into a decision you may regret later.
- When it comes to franchising, find out about:
- The start-up fees and costs of the franchise
- The amount of training and support
- What pre-existing strategies you will be able to make use of
- The working patterns, schedules and ethics of the franchise
- How many units you will be expected to run as a franchisee
Once you’ve made these enquiries, and pursued some of your own, you will have a good idea about what franchises are a better fit for you.
3. Finance your franchise
The average cost of starting your franchise is £42,200 [British Franchise Association], but as always, the final sum will vary depending on lots of different factors. Once you know how much you will need to pay to get your florist franchise off the ground, you will then need to start figuring out how you intend to finance your launch. If you can pay the sum straight away, then you can already get started! If not, there are several options available to you.
As franchising is a business model with proven high survival rates, many banks will be willing to lend up to 70% of all your start-up costs, depending on your credit history. Some franchises will even have dedicated financial brokers or mentors who will be on hand to help you get the best possible rates for your business.
There may even be other options besides these so it is a good idea to check with your franchisor what financing options are open to you.
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Become a florist franchise today and enjoy huge profits and great job satisfaction
As a florist franchisee, you can expect to make plenty of profits all while enjoying a very high level of job satisfaction. To see more about becoming a florist franchise, you can learn what it takes to start your own florist franchise, or, see a full range of opportunities in other sectors on the UK franchise directory.
Elliott Fudge, Point Franchise ©