WHERE DO I PITCH MY PRICING STRATEGY?

Dear Biz

I used to work on a flower stall after having my son and I picked up skills quickly under the excellent guidance of Lisa, a trained florist with 30 years of experience in the business.

An opportunity came up last year for shop premises at Sidcup Station in Kent and I have opened Station Stems with Lisa working with me. I do the day-to-day stuff of getting the shop ready and we work together on funerals, weddings, parties, Valentine’s Day and Mother’s Day.

We’ve been open a few months and are beginning to get enquiries about weddings for later this year and next year. This is a side of the

Dear Biz

I am at the final stages of getting ready to launch my new business. But, I’m really struggling on what to charge. Is there a formula I can use? business I’d like to build up. We are in the process of working on a portfolio to show couples what we have created for the big day in the past. Any ideas on getting the word out to a bigger number of couples tying the knot?

Biz replies

Having the shop as a place to show off your skills and meet potential new customers, especially in a station with a lot of people passing through regularly, is great.

Make sure you advertise at the shop that you do weddings and special events as well as sell flowers and bouquets. This will help to

Biz Replies

Getting your pricing right is essential. Too low and you won’t make sufficient profit, too high and you might not get any customers. If you have done a thorough business plan this should have been included – with the sums of how BUSINESS BLOOMING Laura and Lisa catch the attention of passing brides and grooms. People like to support local businesses.

Once you’ve got your portfolio together make sure it’s visible and think about getting some glossy shots of some of your stunning creations to entice couples.

Look out for wedding fairs where you can showcase some pretty designs and have your portfolio at the ready to show couples.

Look out for opportunities to work with other small businesses that do weddings – from bridal dress shops and designers to photographers and caterers.

Also, try to get your foot in the door of some of the popular local venues for weddings as one of their preferred suppliers. much raw materials cost, what you can buy products for, plus your costs and an element of profit added in.

You also need to work out who your customers are and how much they will pay – and how much your competitors charge. Go back to your business plan and do the sums. – Titanic