Floristry is an industry worth over £1 billion in the UK, with around 14,000 businesses employing just over 20,000 people. With flowers being an ever-popular choice of gift for birthdays, anniversaries, and occasions such as Valentine's Day and Mother's Day, floristry businesses are susceptible to sharp rises and falls in demand. Additional revenue streams, such as weddings and funerals, can provide a bit more stability to the cash flow of a flower shop, but even with this, many businesses struggle to keep a steady cash flow.
On top of these problems, local florist businesses have increasingly felt the impact of competition from supermarkets, who are able to sell competitively-priced products in a convenient location for the customer, and online flower retailers, who can sell at a significantly lower margin, due to the lack of overheads.
Help your cash flow
Cash flow has often been described as the "lifeblood" of a small business, and this is very true of florist businesses. According to research from the Federation of Small Businesses (FSB), the closure of around 50,000 small businesses per year can be directly attributed to late payment. For florists with a fluctuating cash flow, a single late payment for an event can mean severe cash flow problems, or worse, closure.
Many businesses are able to solve their cash flow problem with a loan from their bank, or an overdraft facility on their bank account. With banks largely reticent to lend to businesses with such turbulent cash flow, these can often take weeks or even months to organize, however, and for business owners that need to react quickly to a late payment or sudden change in demand, these products may not be the best fit.
Fortunately, there are still plenty of options open to floristry businesses. Alternative lenders, like Fleximize, can offer products that are tailored to individual circumstances, and look at the bigger picture when it comes to making a decision. They are often more inclined to lend to small businesses with turbulent cash flow, and can work directly with you to find a product that is both affordable and flexible. They are also able to process an application and approve funds quicker than many banks.
Our flexible business funding is an alternative to traditional forms of cash flow finance, with features designed with you in mind. Here are some of the highlights:
- Business loans of £5,000 – £500,000
- Unsecured and secured borrowing options
- Flexible repayment terms of 3 – 48 months
- Speedy application with minimal paperwork
- Approval and deposit in as little as 24 hours
- No hidden fees or early-repayment penalties
- Interest charged on a reducing balance, not the total loan amount
- Repayment holidays and top-ups available with all loans
- Exclusive discounts on industry-leading business services
We don’t apply the rigid criteria that banks tend to - we’ve got a history of funding companies with minor blemishes to their credit history. If you've been trading for six months or more and can show us a healthy revenue stream, we'd be happy to consider you for funding.
Funding for all purposes
Whether you're looking to expand in to a new area, or simply purchasing stock in advance of a busy period, we can provide funding for a variety of different purposes:
If you're looking for funding for your florist business, click the button below and fill out our simple online application form. We'll run some quick initial checks to assess your suitability and then, subject to passing these, a member of our team will be in touch with you to guide you through the final steps. Got a question? Drop us a call on 020 7100 0110, and our team will be happy to help.