Hey friends!

I want you to think about recurring revenue, because focusing on this can be the key to building a stable, predictable business. 

I think we can all agree, the unpredictability of your income while running your own business can get reaaaaally old, right?

Creating a sustainable business model is crucial for any floral business, whether you're a wedding florist or a retail florist. One key component of sustainability is establishing recurring revenue. Recurring revenue provides financial stability and peace of mind, ensuring a steady stream of income regardless of seasonal fluctuations. Let’s dive into how you can incorporate recurring revenue into your floral business model. 

Recurring Revenue for Wedding Florists

As a wedding florist, you've already built a strong relationship with your clients during one of the most significant events of their lives. Leveraging this connection by offering subscription services to newlyweds can be a game-changer and is SO easy.

Here’s how:

1. Annual Flower Subscription: Once the wedding is over, offer your clients an annual subscription where they receive 5-12 arrangements throughout the year. These can be for special occasions like anniversaries, birthdays, and holidays, or simply "just because." This way, they continue to enjoy your beautiful floral designs long after their big day.

2. Monthly Payment Plan: Make the subscription more accessible by offering a monthly payment plan. This spreads the cost over the year, making it easier for clients to commit. A manageable monthly fee is often more attractive than a large one-time payment.

3. Exclusive Service: Highlight that this service is exclusive to your past wedding clients. They already know and trust your work, and this exclusivity can make the offer more appealing. Emphasize that by subscribing, they get to work with you, even if you don’t offer this service to the general public.

Example:

• The client decides on 5 arrangements, priced at $300 each - Birthday, Anniversary, Valentine's Day, The day they met (extra romantic!) and Just Because. 

• You collect the dates upfront, so they are ready on your calendar and make sure you have the sender's phone number for a quick text to collect the message before it goes out. 

• You put them on an automated payment plan of $125/month, on going with no end to the subscription, unless they request it. 

Now, as each wedding client accepts this incredible offer, you build your month recurring revenue. You will get to a point where you can hire someone who manages these subscription arrangements and you don't have to be stretched too thin. Once you have 25 clients sign up, you will bring in $3,125 per month, but will only have to delivery 5 deliveries per client each year. 

Implementing these strategies not only keeps you connected with your clients but also creates a predictable revenue stream that can significantly enhance your financial stability.

Recurring Revenue for Retail Florists

For retail florists, focusing on recurring orders from businesses can be a significant revenue booster. Here’s how you can incorporate this into your business model:

1. Corporate Subscriptions: Offer subscription services to local businesses such as hotels, restaurants, interior designers, and real estate agents. These businesses often need fresh flowers regularly to enhance their ambiance and impress clients.

2. Client Gifting Programs: Partner with businesses that frequently gift flowers to their clients. Create customized corporate gifting programs that ensure regular orders from these companies. This can include arrangements for client anniversaries, holidays, or special events.

By targeting businesses, you can create a reliable income source that boosts your revenue consistently, irrespective of the season.

Benefits of Recurring Revenue in Floristry

1. Financial Stability: Recurring revenue ensures a steady income, making it easier to manage cash flow and plan for the future.
2. Client Loyalty: Subscription services foster long-term relationships with clients, increasing customer loyalty and retention.
3. Operational Efficiency: Predictable orders allow for better inventory management and resource allocation, improving overall operational efficiency.
4. Business Growth: A steady revenue stream provides the financial foundation necessary for growth and expansion, allowing you to invest in new opportunities and innovations.

I’m genuinely excited for you to dive into building recurring revenue for your business. It may take some time to set up, but once it’s rolling, you'll experience such a relief. Imagine the peace of mind knowing you have a consistent stream of income flowing in. You’ve got this! With a bit of effort and dedication, you'll rise above the negative noise in the floral industry and see your business flourish.

For detailed strategies on how to make this and more happen inside your business, check out the Flowering Minds Membership! We're here to help you every step of the way, ensuring your business not only survives but flourishes!