Pricing Wedding Flowers

Learning to price wedding floral arrangements is crucial for florists to ensure profitability and avoid underpricing, which can lead to financial losses. Accurate pricing involves covering costs, meeting client expectations, and maintaining a healthy profit margin.

Read Full Article at True Client Pro

How to Price Wedding Floral Arrangements

by True Client Pro

Why is learning how to price wedding floral arrangements important to florists?

Pricing wedding floral arrangements accurately is a critical step for florists aiming to run a profitable business because, without a structured approach florists risk underpricing. This can lead to profit loss and missed revenue.

In this guide, we will walk you through the essential components for setting prices that cover costs, meet client expectations, and ensure profitability.

By the end of this blog, you’ll understand how to:

Create profitable floral recipes
Incorporate all relevant costs
Communicate clear quotes to clients

Understanding Costs in How to Price Wedding Floral Arrangements

1. Calculate Your Cost of Goods Sold (COGS) for Wedding Floral Arrangements

Your Cost of Goods Sold (COGS) covers all the raw materials used in your floral arrangements, including flowers, greenery, containers, and floral mechanics like foam, tape, and wire.

To price wedding florals effectively, it’s crucial to have an accurate list of each item’s cost.

For example:

Flowers and Greenery: Roses, Ranunculus, Wax flowers, eucalyptus, and other greenery add up quickly. A bouquet with 10 roses at $2 each and filler greenery at $1 per sprig may cost around $30 in raw flower costs alone.
Containers: Vases or other containers can range widely in price. A mid-range glass vase might add $5-$15 to your COGS. Higher-end mercury glass is costly to rent, store, and care for.
Mechanics: Floral foam, wires, tape, chicken wire, and pins should also be accounted for, often around $2-$5 per arrangement.

By totaling these costs, you’ll have a baseline from which to start your pricing.

2. Factor in Labor Costs When Pricing Wedding Floral Arrangements

Labor includes the time spent Prepping, designing, arranging, and setting up. However many florists for weddings should consider additional labor for onsite setup and teardown. Establishing an hourly rate for yourself and any staff will give you a reliable figure for labor costs.

For instance:

Hourly Rate: If your rate is $25 per hour and an arrangement takes two hours to design, labor costs a total of $50.
Onsite Setup: Weddings often require special handling and can take additional time. Set a separate rate for setup, such as $50 per hour for staff.

Labor can fluctuate depending on the arrangement type and setup requirements, so tailor this to each wedding for accurate pricing.

NB: Most florists forget to include the pay rate at a markup of 1.25 or 1.5 to include and cover the payroll cost leading to less profit.

3. Include Overhead Costs When You Price Wedding Floral Arrangements

Overhead covers expenses are not tied to individual arrangements but are essential to business operations, like rent, utilities, insurance, transportation, advertisements, and storage. Allocate a portion of your monthly overhead to each arrangement.

For example: