If it occurs to me that I must give a present to someone, I get confused until the chance is gone.
It has been 160 years since Emerson made that statement. However, some things have not changed. Some of the most successful businessmen still struggle to purchase gifts, especially flowers, for their wives, fiancees, or girl friends. While some things will never change, there are many other factors that can make gift-giving more enjoyable.
Red White & Bloom believes technology offers the opportunity for men to buy custom arrangements with delivery on specific days. The company intends to reach its goal by targeting wealthy executive businessmen in Midtown Atlanta for a highly upscale Frequent Flower Gifts Program. In the long term, it plans to unveil the city’s first ever floral art gallery in a neighbourhood that is quickly becoming an arts and cultural hub. Red White & Bloom will offer a unique service and differentiate itself from traditional florists. This includes fostering personal relationships via technology and marketing, providing a gift programme that makes buying flowers simple (and forgetting about special dates), and providing exceptional customer service. The company intends to open its gallery in March in Castleberry Hill which is located less than one-mile from Downtown Atlanta.
The company expects modest revenue in its first year, but there is potential to significantly increase revenue in Year Two due to Valentine’s Day sales (not included in Year One due the March opening). The Castleberry Hill area, which is a growing destination shopping district, should drive additional revenue growth. At the time of opening the Castleberry Hill area will have approximately 1,500 residents. Red White & Bloom will not operate as a traditional florist. Studies show that a population in the area of Castleberry Hill is 10,000. Red White & Bloom will not rely upon retail traffic in years one to three of its development. Instead, it will utilize technology and savvy advertising programs to target ideal repeat customers (individuals and commercial clients) in the more that 1,500 targeted Midtown Atlanta offices buildings.
Red White & Bloom sees steady growth opportunities in Castleberry Hill due to its anticipated growth as an arts district with leading Atlanta galleries. For years Two and Three, the company forecasts conservative, but healthy, revenue projections. If the company manages to this plan, revenues should consistently reach over $170,000 each additional year.
Jamie Muir founded Red White & Bloom S-Corporation. He is also the majority owner.
Red White & Bloom employs technology to reach the ideal target audience in a five-mile radius around Castleberry Hill. The company will employ sophisticated marketing techniques in order to secure a core clientele made up of executives and corporate accounts. ).
Red White & Bloom strives to operate with a constant passion for learning, be open to implementing new strategies, and be willing to adapt to changing market conditions.
1.2 Keys to Success
- Utilizing technology in order to develop loyal, frequent-buying men clients instead traditional, walk-in retailers shoppers.
- Designing and selling innovative, high quality fresh flower arrangements using a variety of design styles, flowers, and containers.
- Create A storefront that looks like an art gallery with avant-garde floral arrangements. Always for sale.
- In Year 1, generate a healthy total revenue of $79 600
- Achieve a minimum of 40% sales direct cost and a high gross profit.
- Price programs that assume 10% profit should be built.
- Sales growth of approximately 72% and 21% respectively in Year Two & Three. *
*Note – Red White & Bloom in the first year will open after Easter/Passover. The big increase in Year Two is due in part to the 12-months of revenue (versus the 10 months in year One), the benefit from one-year of marketing, and the inclusions Valentine’s Day/Passover. The average florist’s annual revenue comes to one third because Valentine’s Day is the most important.