The answer to that question and other essential flower shop accounting, financial management, and benchmarking best practices that’s specific to the complexities of running a flower shop is all in one place, thanks to the Society of American Florists.
SAF’s Floral Management magazine published a 17-part series on Floral Shop Accounting 101. It covers balance sheets, payroll, collections, COGs, cash flow, design room efficiency and more with advice from two experts on floral finances — Paul Goodman, MBA, CPA, PFCI, president of Floral Finance Business Services and Derrick Myers, CPA, CFP, PFCI, president of Crockett, Myers & Associates, Inc.
SAF compiled the series into one convenient PDF available to members only. Members can access Floral Shop Accounting 101 as well as advice on Key Operating Targets and Pricing at safnow.org/floral-shop-accounting-101.