Today my post is aimed at wedding stylists, decorators and florists. I have recieved a number of requests asking me to discuss how to price wedding styling, decorating and flower arranging services.
We are all struggling with clients who are ‘shocked’ by the cost associated with wedding styling. So many companies out there are working just above that breaking even point. Working this hard for small profit margin is becoming exhausting and unsustainable for so many businesses out there.
Wedding styling requires financial resources to finance multitude of items for a wedding plus your talent and time to make it happen. When a client brings her Pinterest inspirations, she is thinking look at this flower arrangement and we know that to achieve that look we will need chairs, linen, lighting and even manufactured finishes. Everything adds up, especially those candles!
Here is a common formula:
TIME + MATERIALS = COST
COST X 2 = WHOLESALE PRICE
WHOLESALE X 2 = RETAIL PRICE
When it comes to floral, decor and styling part there are there major components:
2. Decor, styling items and ambiance
3. Logistics (administrative side of the business and then the creative – water, buckets, arranging area, packaging materials, storage facility, delivery vehicle)
4. Human factor – you as a designer, styling, florist, decorator plus support staff, set up staff and breaking down staff. If you are a one man show then it is probably because you are unable to pay staff due to undercharging. Next time you are putting a quote together, add a line for staff.
When you are providing your services your aim is to source your flowers, decor and other items at either cost or wholesale price and then sale it at retail price. This will allow you to run you business at a profitable margin.
Here is a practical example, a simple wedding centrepiece requires raw materials (flowers/oasis) + decor to create:
Flowers at wholesale price, inclusive of VAT:
5 bunches of lisianthus x R65 = R325
5 snowdons x R12 = R84
20 stems of roses x 6 = R120
2 stems of phelanopsos x R220 = R440
Total: R969 (shocking, but true)
Materials: Oasis + Plastic Tray R30
Decor: Silver bow hire R80
Total cost: R1079
Retail price = wholesale price x 2 = R2158 (this is the price a client should be paying in order for the business to be profitable)
10 wedding centrepieces: R2158 x 10 = R21580
This price excludes design, labour, delivery and on the day set-up.
So when you are quoting your client you have to make them understand that they are paying for all the items they will consume on the day of the wedding (flower arrangements, candles), they will require to hire items such as cloths, chairs etc and yes they have to pay you to put it all together and make it beautiful.
If you are still not sure and want to chat about how to structure your quotes you a re always welcome to contact me on email@example.com and consulting rates will apply. Alternatively, enquire about upcoming workshop where we will be discussing each component and pricing in more detail.