If you’ve been a retail florist for a while, you’ve undoubtedly seen articles about Cost of Goods Sold (COGS). You know that if you are going to make a profit you must control COGS and payroll. All the other expenses in a flowers shop combined do not match the importance of controlling those two large expense items.
But do you (and your staff) really know how to keep COGS under control? Have you implemented practices and standard procedures that make it easy to do so?
In the August issue of Floral Management, Paul Goodman, CPA, PFCI, walks readers through some of the industry’s best practices and helps them navigate common COGS challenges, including details on why it’s so tricky to correctly price arrangements and two-step advice on how to tackle that task more effectively.
Read the full story in this month’s issue of Floral Management.
