The flower business really is unique. One of the great things about it is how quickly the primary product, fresh flowers, turns over.
Unlike most retail, where tens of thousands of dollars can be tied up in inventory that can take months (and sometimes even years) to sell (if it ever sells at all!) florists generally turn over most of their inventory each week.
That can get them into trouble when they try and branch out into gift items that don't turn over as quickly. Traditional non-perishable retail is a very different kind of business – one that ties up precious capital.
The Consignment Opportunity
Some florists have found a way to enjoy the benefits of retail without the risk: consignment sales.
They partner with small local companies, craftspeople, artisans and makers, putting their wares on display and paying them if (and only if) they sell. This lets the florist...
- expand their offerings with no risk and no need to tie up money in inventory
- redecorate and freshen up their stores on a regular basis at no cost
Consignment sales are a great opportunity that more florists should look at.
The Problem With Consignment Sales
The downside is that in solving one problem (inventory cost) it introduces another – a nightmare of trying to keep track of what is owed to each consignment vendor. This can quickly become such a burden that the florist decides consignment is not worth the headache.
FloristWare makes it easy to profit from consignment sales by keeping track of your vendors, their items, when and how much they need to be paid, then how they were paid. Both you and your vendors will always know exactly where things stand.
And that is just the beginning. We worked closely with clients that have mastered consignment sales and built the system they wanted, with powerful features it would take some shops years to realize they needed.
We'd love to show you how we can help you take advantage of consignment sales. Let's talk soon.