Flower Shop Business Plan

Flower Shop Business PlanJharkhand is a state in eastern India. The name Jharkhand is come from Sanskrit which room Jharkhanda which means regions dense forest. Jharkhand has lodger with Bihar, Uttar Pradesh, Chhattisgarh, Orissa and West Bengal. It covers 74,677 kilometer square from the east. Ranchi is the capital of the Jharkhand. Some of the major cities of Jharkhand are Jamshedpur, Dhanbad, Bokaro, Sindri, Deoghar, Hazaribagh and Gumla.According to some writer, they said that in that respect was already geo political and cultural entity called Jharkhand blush before the period of Magadha Empire. instantaneously I am going to tell you about what is sell?RetailRetail derived from a French word retailer which means to break bulk.Retail consist of all activities involved in the marketing of goods and values directly to the consumer for their personal, family and ho use of goods and services hold use.General DescriptionNow my screeningic for term paper is Jharkhand and I am go ing to strand so forth out a Flower shop class in Bokaro steel city of Jharkhand. Name of my investment company is BUDS and BLOSSOMS.Goals and Objectives of a Flower ShopMissionBUds and eyeshades pass on use the technology to target the node and differentiate from the some other traditional retail and on-line florists by mountain passing point authorise programs with better service such as customer discount select the specific delivery dates, tangibility and customer as well specify the color, scents etc.Objective of a peak shopObjectives of my shop are followingThe main objective of my shop is to fulfill the customer wants and bind them better mathematical product so that customer will satisfy.The second objective is to gain 10% profit.To increase sales.And to generate maximum revenue.About my shopBuds and Blossoms first of all target the audience within the market.According to Emerson he said that certain things overhaul birth not changed. Some of the most succes sful businessmen still have trouble purchasing gifts e special(a)ly summits for their wives, fiances and for their girl friends. So Buds and Blossoms provide them fresh and beautiful flowers for their wives etc. I will open my shop in Bokaro steel city in Jharkhand because in this city most of the population is youngster and they like flower as a most attractive gift for their girl friends or wives. And the shop will target the higher level of income on loved ones. Buds and Blossoms mainly target the Valentines Day, anniversary and birthday etc. and I think fresh flower is the easiest way to speak the feelings of your heart. Buds and Blossoms also provide restaurant facility. And I will also give the customer the better service and flowers so that masses can trust on my shop. And to open the shop I will see the following factorsStore locationAs Buds and Blossoms open a small picture gallery on that place where the plurality usually go so that they can see the gallery and would l ike to visit my gallery. Buds and Blossom plans to open in June and cover 600 square feet. One third space is used for retail and other space is used for storage and restaurant etc. and we are also providing the free parking so that people can easily visit to my break in because sometime people cant visit the shop because they cant provide them parking service.Store designAs we know that customer can easily attract by the exterior design of the gallery or a shop. So Buds and Blossoms create a attractive and inviting store front such asSimple and modern design with attractive design. lovely flower design and with lots of lighting.Clear large glass window so that people can easily see the interior decoration.Buds and Blossoms will be open for Monday to Saturday and closed on Sunday and the timings are 1000 a.m. to 500 p.m. And I will follow the insurance of CRM that is customer relationship counsel that means we create a good relationship with the customer. And as I am selling prov ided flowers so my shop is a specialty store which provides only flowers to the customers.Products and ServicesBuds and Blossoms will offer a variety of products and services.ProductsUsing a wide mix of flower Buds and Blossoms will provide natural and original cash in ones chips of art. The arrangements of shop provide flowers as per the need of the customers. And all samples in the store will be available for purchase.Green and flowering house plant Buds and Blossoms offer a selection of seasonal green and flowering plants occasionally.Variety of prices The store will offer a variety of sizes with different prices.Handmade Bouquets For customers who pick out to use their own vases, Buds and Blossoms will provide them handmade bouquets.ServicesHome delivery Buds and Blossoms will provide home delivery to their customers.Birthday blooms Buds and Blossoms will offer a free arrangement to each office manager on his or her birthday.Give priority to delivery program Buds and blossoms give priority to the delivery flower so that we will deliver the arrangements on the same place and at the same time of the week.Buds and Blossoms also provide discount facility to their commercial customers. market planBuds and Blossoms mainly target the youngster of the Bokaro city as I mentioned earlier that youngster prefer flower as gift for their girlfriend and for their wives. So our main focus on youngster of the city. As we are opening our new business so I want to achieve minimum 50% of the market dole out as a florist.Positioning strategiesBuds and Blossoms positioned in their customer by giving some extra benefit, high quality, high quality flowered arrangements and personalized service. And Buds and Blossoms also plans to create a unique shopping experience with its floral design gallery which is located in an up and coming humanities district area for making poisoning in the customer mind.Current demand in the marketAs we know that people like to give flower on anni versary and in the party but there is no any retail shop for the flowers but people demand is high. So rich people demand for the special flowers. So it means the current demand for the flowers is more.Consumer preference and product organic evolutionAs we know that today people more prefer flowers as a gift so the consumer preference about the flower is more and this preference is also continue in the future.The product come apartment is also high because rich people and business mainly prefer the flower as a gift so the product development is high in present and as well as in the future.Opportunity for the businessAs we all know that mainly in India that there has not many flower gallery or a retail shop for the flower so this become an opportunity for me to open a retail shop of the flower for the youngster of the Bokaro city. This is the big opportunity for my business.Barriers for the businessFollowing are barriers that came into the businessFirst is that people in India the medium class people thought that flowers are not sufficient as a gift? They usually prefer costly gift and a big gift for the party. So it means they cant prefer the flower due to this sales decrease.Secondly people never trust on the retailer easily.And the third is that it is difficult to catch up with the minimum 50% of market share as a florist.Solution for the barriersFirst is that attracting the people through advertisement?Second is that using some special arrangements for the people?Some factors that affect my business are followingChange in economy If the economy changes then it affect my business.Change in consumer recognition if the perception of the customer changed then it badly affects my business.Change in technology if in the future some other technology arises then people prefer that technology more then it also affects my business.Promotional strategiesFirst promotional strategy is trough advertisement. Means through advertisement we can attract customer and prom ote our product.The other strategy for promotion is direct selling means to interact the customer for the promotion of the gallery and the product.And the third strategy is by collateral sales means by organizing some events etc.So I think through this we can promote our product or our flower gallery. usable planStore location As Buds and Blossoms open a small gallery on that place where the people usually go so that they can see the gallery and would like to visit my gallery. Buds and Blossom plans to open in June and cover 600 square feet. One third space is used for retail and other space is used for storage and restaurant etc. and we are also providing the free parking so that people can easily visit to my store because sometime people cant visit the shop because they cant provide them parking service.LayoutGenerally, a florists shop will contain a large no of flowers. Sometimes it displayed on the street or will have a large plate glass window to display the flowers. Generally to keep the flower fresh shoppers kept the flower in the army tank or in the water. They also kept them in vases or other containers. My shop has a cooler near the front of the shop with glass window so that customers can easily see the flowers. And Buds and Blossoms have a back section for the decoration of the flower. recognize supplierKey supplier means where we purchase the raw material in this case key supplier means that where we are getting the flower. So I get flower from the Gardner of that particular area and the nursery located in that particular area that are the key supplier of my store.Credit policyCredit policy is that when we gave the product on credit to the customer. So I follow that policy in some situation means that I will give credit facility to the commercial customer of my gallery.Store managementStore management is very important for a store. To become a top florist store manager the store management is important. To manage the store firstly there is total integration. Means every detail from a flower order needs to be shared with every part of the shop which requires information at the right time in order to handle the good flower order. And by using new technology we can maximizes sales and reduces costs. I think through this I can manage the store.Merchandising managementMerchandising management includes such areas as salesmanship, types of flower such as jasmine, rose etc., advertising and promoting our floral business, marketing and display window. These all are trade in of the store so its knowledge is important to make gold.Financial planAs we know that to start a business we require adequate money for the business. So to start a flower shop following are the assumption that should considerUnderlying assumptionsThe flower shop will have one-year revenue of growth of 16% per year.The total capital spend on the business is 30 crores.I will acquire 10 crores of debt funds to develop the business.I have take loan of 10 years wi th the 9% interest rate.In the depression or recession the revenue of the gallery should whitethorn decline as depend on the market condition or consumer preference.Sources of fundsEquity contributionsManagement investment 15, 00, 00,000Total equity financing 15, 00, 00, 000Debt share 10, 00, 00, 00Total debt financing 10, 00, 00, 00Preference share 5, 00, 00, 000Total preference financing 5, 00, 00, 000Total financing 30, 00, 00, 000Break even psychoanalysisIn this we assume the racetrack costs which include rent, utilities and an estimation of other running costs. The following chart shows what we need to sell per month to break even, according to these assumptionsBreak even analysisMonthly Revenue Break even $ 5, 085AssumptionsAverage percent variable cost 30%Estimated monthly fixed cost $3, 560