When it comes to weddings and pricing, beauty is usually not a problem for the floral industry. Retail florists excel at beauty. Profitability is another story. Although many florists make good money on wedding work, others avoid it for fear of losing money.
“To begin, weddings are complicated,” writes Floral Management contributor Paul Goodman, CPA, PFIC, in this month’s Floral Management. “There are lots of moving parts. To be profitable, you must understand each part and price it accordingly. In addition to having various types of floral work, labor is a large component of weddings. If you don’t price properly, weddings will be a drain on your bottom line.”
Read more about how to price those components properly and profitably.