I am a female 52yrs. old don't have much money to work with but am knowledgeable about flowers. Never had my own business thought maybe a small business loan.But how to get it and how to qualify is a problem. Don't know how to go about it. Also what would I need to get it going. Coolers etc. I have a place to rent. Any info is greatly appreciated. Any women out there ever done the same thing????
I would like to start my own flower shop business?
Ok, great idea but here are your hurdles honey.
To get the loan, one you must either have an educational background that says you have the potential to do this, VERY pertinent and extended experience in the field and a superb credit history with a FICO score of over 700.
To make it in the biz and not have to worry about making the loan payments and going into bankruptcy, you must find a place that is either devoid of such a service or offer a product that hardly anyone else, if no one at ALL, can offer.
There is a flower shop on every corner...what would make your's special? That is what will be asked of you ok? Simply supplying the area with fresh long-stemmed roses and lilacs and Valentine's Day arrangenments will NOT be enough to persuade a bank to loan you $100K or more to get started.
You need to be able to make floral arrangements no one has EVER seen. What you need to get going is money and experience and know how. If all you want to do is make pretty floral arrangements, honey anyone can do that. You need to offer something that is rare, hard to find...singing telegrams...hokey, but when was the last time you ever head one being delivered? Something, if you REALLY want to make it...you can't be a blend in. You won't make it and a bank won't give you the loan. If you can do something spectacular, bring it with you to the loan interview...that way you can be like "see?!"...wow them.
Reply:The best routes to take are to research the process of starting a business as well as the industry you're interested in.
I recommend checking out the SBA, Entrepreneur, The Start Up Journal %26amp; Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.
Associations may be a good avenue to explore as well. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.
Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:
* Starting A Flower And Gift Shop by Millicent Gray Lownes-Jackson
* Start and Run a Profitable Retail Business by Jim Dion, Ted Topping
* Retail Business Kit for Dummies by Rick Segel
* Specialty Shop Retailing: How to Run Your Own Store Revised by Carol L. Schroeder
* So You Want To Own The Store: Secrets to Running a Successful Retail Operation by Mort Brown
Hope that helps! I wish you much success %26amp; happiness in all your ventures!
Reply:To get the 'feel' of the floral business, you might consider going to work in one. I am sure it will give you an 'inside' perspective.Try contacting SCORE.
Reply:you should try. start with a rent in a local, busy plaza, and use personal money (and from family and friends) to pay for shipment and the flowers. if you still can't, start by working in a flower store and learn how they do it.
Reply:good luck....
Reply:Great idea! In my opinion, you can't go wrong. Low overhead, should be able to get flowers locally or discounted due to the fact that you'll be buying in bulk. I'm sure there are plenty of places on the web that'll get you the vases and paper products you'll need at a reduced price. Cards and other nic naks can be bought at Wal-mart online. Go for it. You'll never know how successful you can be unless you try!
Reply:Look..respecting your age,i must say..good decision..u wanna qualify for the loan..just go ahead and mortgage your property..some legal formalities are there which any good bank will help you to comply with.dont worry about it..for flower shop business your expirience would be good enough but u need some assistant who has previously worked in the same line.u hv good knowledge but the latest trends in bouqets,glitterings %26amp; all that stuff..he will arrange everything of your use..so,march forward with your decision..dont be hesitant..jst beleive in yourself and success will be yours.good luck..
