Cupid, On Target
Take aim at higher profits this Valentine’s Day
With the Valentine’s holiday fast approaching, the time is now to prepare for the big day, getting your shop and your staff ready to maximize the many sales opportunities Cupid’s celebration of love is sure to bring to your business.
As you know, this year the annual Valentine’s Day festivities fall on Thursday, a mid-week placement that can be very beneficial to retail florists – all the more reason to put a solid game plan in place before the holiday arrives.
Here are several suggestions that can be instrumental in helping you optimize your profits for Valentine’s 2019.
Organization – The key to success
No matter the holiday, the vital components of success involve planning ahead and being proactive instead of reactive. Organize and stay that way. It can be a waste of time and money when you have to look for things or guess because you cannot find the answer.
Review the facts – Look at your post report from last year
What, you don’t have a post report? Then all the more reason to start one this season. Keep a report of your labor cost, product sales and supply/demand, trends and/or fads, as well as what you ordered and why, what sold and what did not. This is where you will start each season – if it did not go well, why repeat it? If it did go well, ask yourself how can you do it again and make more?
Plan, Prepare and Provide – Follow through
As you get busier and busier towards the Valentine’s Day holiday it is likely you will increasingly try to work on several things at once. If it is going to take five minutes to do, then get it done now – don’t wait. It’s simply human nature that busy people tend to forget and that can cost more money and/or time in the long run.
Order Ahead – Forget “Better Late Than Never”
By ordering early you can receive discounts, incentives and other perks that could significantly help your bottom line. If you are not offered these things then ASK for them. This will also force you to do some planning and research, which can make you better prepared.
Create Recipes – Directions to Greater Profits
It’s a very good idea to create recipes in advance of the Valentine’s Day holiday, especially adaptable recipes such as those that include roses, hydrangea and filler, which can easily be modified to include lilies, orchids or a color switch. This way you already know what your product will be and what your profit margin is so any adjustments can help to increase your profitability.
Power Shop – Buy In Quantities For Quality And Savings
By shopping early, you can get your plan created and condense what you are going to offer. In addition, buying in larger quantities should help your purchase price and allow you to trim cost and increase your overall Valentine’s Day profits..