The Floral Studio is two years’ old this month, and after two years of owning this burgeoning business, the owners, Natalie and Irene have met the challenge of a start up, i.e surviving two years, but it’s had its challenges.
No two floristry businesses are the same, and starting a new business allows you to put your own brand stamp on the business. With an existing business it’s all about ensuring the transition to the new owners is seamless. Either option requires the owners to have pretty deep pockets; in other words around $300k before you see a return on investment.
The Floral Studio is located on the corner of Richmond Road and Surrey Crescent in Grey Lynn, with limited foot traffic but with many small businesses and residential apartment buildings nearby, and The Mall option dictates your hours and must be seven days a week, but the foot traffic can be high.
A downtown location increases the price of rent per sqm so florist shops are smaller or co-located with other businesses. However, this limits the stock to flowers, and pricing margins must be higher to deal with the perishable nature of the product. The Warehouse, or working from home option are both great for long established businesses with established clientele and great ecommerce presence.
All Auckland’s flowers essentially come from the same source – the Mount Wellington markets, and The Floral Studio purchases premium grade flowers , vases, washed and cut flowers daily. Each of their designs is a special ‘one off’, and they don’t use paper fillers or wrap bouquests in cellophane. Their flowers do not get exposed to hot temperatures, which can cause damage and decay due to higher bacteria levels. Think of the old adage, “You pay for what you get.”
Grey Lynn and Ponsonby prefer the wilder green white designs that The Floral Studio creates daily. However, Westmere and Point Chevalier customers can be more traditional, favouring the muted pinks or the vibrant colours of blues and hot reds.
The choice of flowers varies considerably across Auckland and it’s really important to understand taste. Buying flowers from the local florist ensures taste is catered for.