January 31, 2023
Step by Step Guide to Establishing Your Flower Shop

Before establishing your flower shop in Dubai, you need to know the different aspects of starting a business in this industry. Consider the costs of setting up a flower shop, the sources of funding, the target market and how to price your products. In addition, you need to have some knowledge about the industry standards. Moreover, you must be aware of all your costs to calculate your profit margin before you start your business. Finally, it would help if you chose a name for your flower shop. Select a name that will summarize the goals of your business and be easy to remember. Referrals are the lifeline of any flower shop, so make sure it reflects your goals.

Research your target market:

As a florist, the first step to opening your flower shop is researching your target market. Who are your ideal customers? What type of flowers do they like to buy? How often do they buy them? How much money do they spend on them? Are they likely to send flowers to a friend? What will differentiate you from your competition? How can you better serve your target market? 

Consider your competition:

When opening a flower shop, consider your competition. There are several types of competition, including both direct and indirect. Your primary competitor is likely to be local florists, but you should also be aware of indirect competitors such as online sales and supermarkets. While direct competition may be the most important, indirect competition can be equally challenging. Consider the lifestyle of your customers. Are they likely to visit a local flower shop? Will your shop be easily accessible? Will you have plenty of parking?

Sources of funding:

When you’re considering funding sources for a flower shop, you can look to traditional banks and credit unions. These institutions typically offer small businesses the best rates and terms and charge very low fees. However, obtaining funding through these institutions may take longer than for nontraditional sources, so you need to consider your business plan and credit history. If your credit score is too low, you may want to consider applying for a credit-enhancement program. I hope this guide will help you establish a reliable flower shop.