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This program will explore basic information about how a florist looks financially. How do they mark up product? How do they differ from other retailers? What is the cost of their goods, labor, etc.? The more information a wholesaler has about their customer the better positioned they are to help that customer be more profitable.
The last part of the program is the introduction of a spreadsheet that will allow wholesalers to create a customer profile specific to each of their customers. Entering the number of employees for each customer will allow the spreadsheet to provide you with a range of the amount of money each customer is spending on product categories such as roses, filler flowers, etc. per year.
Once you know how a retail florist operates from a financial point of view and what the key controllable targets are you'll be in a better position to interact with your retail florist customers on financial issues. You'll know the targets they are trying to hit to maintain profitability. In addition, you'll know their buying potential for your various product lines.
Paul Goodman has been involved in the floral industry for 36 years. In 1974 he entered the industry as the Vice President and General Manager of the Wire Service Division of Florafax International. From 1979 to 1982 he operated a large retail florist and nursery operation in Eugene, Oregon. He founded Floral Finance, Inc., a monthly newsletter aimed at providing "Financial information, education and control for the retail florist." In 1983 he wrote the original version of Rosebud (now called Eagle Technologies), the #1 selling floral software in the industry through 2000. In 1987 he wrote the only financial manual for the retail florist, The Profit Minded Florist. In addition he has conducted numerous educational seminars throughout the United States and Canada over the past 35 years. Paul started Goodman's BottomLine Group in 2006 – a small group of large florists focused on improving bottom line performance through one-on-one consulting and group meetings.
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WF&FSA Audio Conferences & Interviews
WF&FSA has compiled a list of various audio conferences & interviews dating back to 2001 which we are making available to members for FREE! For a complete list, click here. If you would like a download of any of these, please contact Ken Hess at khess@wffsa.org or 888-289-3372 and Ken will email you a link to the download.
Source: Wholesale Florist & Florist Supplier Association