Do you want to start a home-based flower business in India? If yes, you have landed at the right place. You will learn in this article all the steps to be followed to start a profitable flower business from home in India.
There has been a sudden growth in the flower industry in India in the last few years. The recent for this huge growth is majorly due to two reasons. The first is the rising income of the middle class and the second is the price of the other gift items has increased much. The price of a flower bouquet is far less than that of a gift pen nowadays.
Furthermore, starting a flower business is easy and does not cost much. One can start selling flower bouquets or flower decorations from anywhere. It can be roadside, home, or from a small shop. If you have a passion for flower arrangements, launching a flower business will surely bring good profits if properly planned.
Here are the 10 Steps to Start a Home-Based Flower Business
1. Learn More About Flowers
Unless you have good knowledge about flowers, it is extremely difficult to be successful in any floral business. Do not forget that flowers are perishable items. Every type of flower has its own shelf life. In addition, most flowers are available in specific seasons. So, one must be aware of their availability as per season.
Other than flower designing skills, one has to acquire expertise in accounting, management, and communication skills to establish a profitable flower business.
2. Understand the Local & Online Flower Market
The flower industry has evolved in the last few decades. Newer trends and tastes are observed among floral customers in India. Flowers are no more used only in the hair styling of women. You will see people more and more interested in flower decorations in wedding ceremonies, corporate events, religious events, birthday events, sympathy, and funeral events, the list goes on.
Some of the popular flowers that sell most in India are roses, lilies, orchids, ger-beras, etc.
Furthermore, check out the best-selling flower items on online marketplaces like Amazon, Flipkart, Ferns, Petals, etc. As you are planning to start the flower business from home, it is advised to tap the online market.
3. Start from Scratch or Buy a Flower Franchise?
The next important step is to decide on the business model. Broadly one can start a flower business in India in two ways. One is starting from scratch on your own or buying a franchise of a reputed flower brand. Both have their positives and negatives. Starting your own will give you more control of running your business while buying a franchise will relieve you from all the hassles of establishing it but with less control power.
If you are one who wants to enter the flower industry with less risk and effort, buying a franchise of a reputed flower brand can be a good business proposition.
4. Create a Business Plan
If you are planning to start a flower-related business from home with a limited budget, it is not necessary to write a long business plan. However, you must ensure that some important aspects are addressed. They are the following:
- Startup and recurring costs
- Products Offered
- Pricing Plan
- Promotional and Marketing Plan
5. Register your Business
It is essential to register your flower business for running a legally-compliant company. There are various company entities you can choose from as per your scale of operation. The most popular company formations in India are sole proprietorship, partnership, and private limited company.
However, for beginners starting a flower business from home with a limited budget, forming a sole proprietorship, or partnership is the best option. When your business grows and profit starts coming in, consider forming an LLP or private limited company as
6. Get Licenses
It is advised to talk to the local municipal or administrative authority and learn about the types of licenses and permits required to open a flower shop business. The common licenses that are needed are shop and establishment, and sales licenses. In addition, you will need a GST registration number to do any business activity in India.
7. Name Your Flower Business
A catchy and unique name goes a long way in the overall success of any business. It holds true for the flower business too. Based on your type of flower decorations and target customers, select a name that prospective customers can easily relate to your company.
8. Evaluate the Costs
The two major costs in running a flower business are procuring cost of flowers and storing them in refrigerators. The average cost of starting a flower shop is in the range of Rs 5 lacs to Rs 10 Lacs depending on the location and size of inventories. However, if you start from home, the cost will reduce a lot.
Do not forget to include delivery costs and packaging costs while pricing your product. If you don’t have the required funds to invest, make necessary arrangements to arrange the needed investment.
Suggested Read: How to Get a Small Business Loan
9. Go Online
It is almost mandatory to create an online presence for expanding any type of business presently. More so, if you are planning to start a home-based business. If you are planning to start and run a flower business from home, it is advised to create a website and promote your flower bouquets and decorations online.
Also, it is extremely easy to launch a website nowadays. Even, if you have no previous technical experience, creating a website is not at all difficult. You can check our guide to creating a website to learn more. Furthermore, create social media presence and keep posting your business activities and keep your potential customers updated with your product offerings.
10. Promote Your Flower Business
All said and done unless you can successfully promote your flower business, all your hard work in setting up the company will go in vain. It is a must to have a professionally planned marketing strategy for your flower-related business. For starters, networking is the key to initial success. Your initial customers are supposed to come from your friends and relatives. Develop brochures, posters, and visiting cards and distribute them.
Finally, do remember flower business is essentially a customer-centric business. A negative customer can create a lot of damage to the brand credential of the company. Take appropriate measures to ensure a proper after-sales support system is in place.
Rupak is the founder of MUVSI. He is a small business consultant by profession. His mission is to make people know how to make money and understand personal finance for a better living.