How would you feel if someone walked in this afternoon and purchased $1,000 worth of your beautiful flowers? Someone you weren’t expecting. Someone who paid in cash on the spot.
You’d be ecstatic. That’s a big sale. A great and unexpected boost to your revenues. If you are achieving a 10 percent net profit, that sale would mean $100 straight to the bottom line for the month.
If you can find such a customer, congratulations. If not, you can give the same boost to your bottom line another way. How? By cutting $100 worth of unnecessary expenses from your operation. A little bit of cost control can have a substantial impact on a flower shop’s profitability. And, in most floral businesses, there are savings to be had.
This month in Floral Management, Paul Goodman, CPA, PFCI, dishes easy-to-implement advice on how to keep expenses in check.
