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Homecoming Mums Business

Making and Selling Your Own Homecoming Mums

I am looking at starting my own homecoming mums business. I need as much info as I can get.

I do have most of the wholesalers’ info and know about some of the mum shows that are held.

But what I am looking for is more information on how to get started, the cost and what I will need. Do you have any info that might be helpful?

I will start out small in my home the first year.

I have been making homecoming mums for my daughters over the past 4 years. I love it.

I live in New Mexico and we have several different schools here. There are only two places to get mums and they are floral shops.

They are outrageous in prices and pretty much all the same mum. Nothing custom. I have drafted up a price list and ideas of what my mums will consist of. I just need any help and info I can get.

Thanks.

Mechelle

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It sounds like you’ve found a market niche which you are well-suited to fill. You’ve already done some good homework. You’ve researched the wholesalers; so clearly you’re thinking of minimizing your costs.

On the other side of the equation is the price you will charge. You say you already have a price list drawn up. Before that is carved in stone, make sure you have considered every cost you will incur – not just materials, but also display and selling materials, advertising, licenses, taxes, gas for your car.

You should even include imputed rent.

Don’t think that just because you already pay for the house, it won’t cost the business anything. The IRS agrees on this point. Whatever portion of your home is used for business can be deducted as a business expense.

If you are successful, you may need to move into a retail location and pay explicit rent. This article on how to Minimize Your Costs should help you make sure you don’t miss any of your true costs of doing business. (You can skip the part on wholesalers!)

After you work through all of the costs, you might not think the local floral shop homecoming mum prices are so outrageous.

Be careful not to under-price your art and the time it takes to handcraft each corsage. Time is money. Remember that it is much easier to lower prices than to raise them – another reason not to start out with rock bottom prices. If your business is successful, you may soon find yourself with more orders than you can fill.

If I were you, I would price at the same level as the competition and play up the custom aspect of my homecoming mums. You might offer a discount for early orders in advance of the homecoming season.

That would accomplish two things: attract interest to get your business off the ground; and allow you to start your custom work as early as possible, leaving you time to handle a greater number of last minute orders. You may already know how to weave some of the homecoming mum love chains, but if you want additional patterns, we have a bunch of tutorials on The Artful Crafter.

Be sure to read the entire For Profit section of The Artful Crafter for more help in setting up your business.

I wish you the best of luck!

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Hello again. I emailed you a while back. I am looking in to starting up my own mum business. I have my work area all planned out as far as where I will have it at. We have enclosed our porch and I will set up in there.

My question is do you have any resources about how to set up a work station for making the mums. I have spoken to one lady and she told me to go to my local florist and they would help me.

Well we are a small community and only one floral shop that does the mums. I don’t think she would be too happy, though I have seen parts of her set up.

I just want something for my ribbons that is going to help ease the process of making them.

I know how I will store my trinkets and stuff. It’s just the ribbon part.

If you have any info on this I would really appreciate it. Also you told me to consider my time in to the price of my mums. Could you recommend what most people charge for their time?

Thank you

Mechelle

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I know just the thing to help you with your workroom set up.

You can poke around and take notes to your heart’s content – without offending anyone. Heather DeHoyos has a series of fourteen homecoming mum videos on Expert Village.com.

They clearly show her set up, as well as how she hangs the corsages for storage. The DeHoyos family has been in the florist business for 15 years. A well-organized work space has likely contributed to their success and bottom line.

As to what people charge for their time, first read Barbara Brabec's article on What's Your Time Worth. Her advice is quite helpful, but might cause your product to be overpriced for your market, so use discretion.

I also recommend minimizing your costs (we talked about that last time) and Maximizing Your Price.

This article offers tips on determining “what the market will bear”. Basically, you need to minimize your costs and maximize your price.

Quantify these amounts as best you can. The difference between them is not only your profit, but also needs to cover costs you couldn’t quantify (like your time).

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