Overview

Floriculture businesses must be equally adept at marketing their crops and managing the business to generate a profit and justify the financial investment. Without the latter two components, a business will not survive. New businesses should realize that it usually requires 3 to 5 years for the business to show a profit and owners should plan accordingly. Prior to starting a business, a number of considerations must be made.The first step is to determine if you have the right personality to own and operate your own business. Visit with people who already own their own businesses. Are you ready for the time, responsibility and commitment required? Analyze your strengths and weaknesses. Are you a natural grower, people manager, or sales person? Do you dislike managing people or handling customer complaints? Enlist the opinion of family and close friends to help you evaluate your skills and deficiencies. You do not need to be able to do everything well but you must be able to hire or partner with others who have the skills and traits you lack.Obtain sufficient capital to start the business and operate until it makes a profit. Unless you are quite lucky, your business will not make money the first year and may not for several years. You must not only have enough money to keep the business operating until it is profitable but also to support yourself, and possibly your family during that time. Even after the business is profitable, it may not make enough money to allow you to pay yourself enough to live on for several more years. Field cut flower production operations typically do not require much initial capital but a number of major expenses might be needed (although, not all at once generally) including irrigation, cooler, greenhouses for propagation or production, hoop houses, and delivery vehicle.

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