Life of the Party: Creating Profitable Events - FTDi.com · 2014-11-20 · Keys to Successful...

December 2, 2014

Life of the Party:

Creating Profitable Events

Kristine Kratt AIFD, PFCI FTD Education Consultant

Keys to Successful Events

1. Start by knowing

the trends

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FTD Confidential/Proprietary documents and should not be copied or redistributed. 4

Keys to Successful Events: Why Trends Matter

o Allows you to “talk the talk” with clients

and other vendors.

o Creates exclusivity and buzz for you.

o Awareness of what clients will be asking

for in the upcoming year.

o Allows evolving marketing opportunities.

o Guides buying decisions.

Why Trends Matter

Event Trends for

2015


Keys to Successful Events: Trends 2015



KALEIDOSCOPE



LAPIS LUXURY



MODERN GARDEN

2. CUSTOMIZE: Making trends work for your events


Keys to Successful Events: CUSTOMIZE

• Observe what’s happening in your market.

• Choose what works best regionally.

• Reinvent what still works from current

inventory.

• Organize and narrow down the options

you want to offer.

• Timing know when trends are at their peak

and when they are slowing down.

3. RELEVANT

REVIVE

REFRESH

From centerpieces to rental items and beyond…

Know what you can offer,

do it well and be consistent.


Keys to Making Trends Profitable: RELEVANT.REVIVE.REFRESH.

Relevant: Choose product that is

relevant to current trends in the marketplace.



Revive: Revive existing merchandise to

fit the current trends.



Refresh: Continually revolve your

inventory.

Select what is neutral for maximum flexibility.

Example: clear glass vases

Add trend items in small quantities to coordinate

with neutral inventory.

Offer rental items.

4. TERMINOLOGY SELLS


Keys to Successful Events: Terminology Sells

Terminology: Use Trend-Worthy Terminology

Communication: Know the Lingo

• Exciting words help to upsell.

• Modern terminology and descriptions resonate with

younger clients.

• Today’s consumers are educated and aware – they have

high expectations.

• Knowing your communication terms helps build trust and

confidence between you and your client.

GREEN

5. PRICING

Don’t Lose Money!


Keys to Successful Events: Pricing

• Shop your local area – Know what other local stores carry (including

DIY stores, big retailers, etc…) and what they are charging.

• Select the markup and labor that you need for the profit you want to

make. (This can vary from business to business and region of the

country.)

• Set flower prices according to yearly averages. Be aware of seasonal

price increases and availability.

• Consider that not every stem you order will be usable (breakage, poor

quality, etc.). Add an extra percentage for the “just in case”… add this

into the cost of the event.

• Buy in case quantities whenever possible. Plan flower types to be

used throughout the entire event for continuity as well as best quantity

pricing.

Awareness



Control It, Total It, Know Your Percentages

Make recipes for ALL event designs.

Create a custom spreadsheet to total all of your items, their quantities needed, their cost, labor, etc…

• List any rental items to be used.

• List clear descriptions and quantities of each flower used.

• List all hard goods for each recipe.

• List cost of goods per item in each design.

• List labor cost (varies based on design requirements).

Use your spreadsheet to help total your flower counts, place your

orders, organize your rentals and account for labor needed.



Labor: Labor Costs = Design Requirements

• In-house labor

• On-site labor

• Custom-designed labor

• Unique/one-of-a-kind labor

• In-house/on-site prop construction

• Outsourced labor

Delivery, Setup and Breakdown

• Be consistent in what you charge.

• Base your percentage on the total price of

the event, and what is expected of your

services after the designs are made and

ready for delivery.



PRICING: To rent…or…not to rent?

Ask yourself:

• What is your hard goods markup?

• Do you have space to store the inventory?

• How many times are you able and willing to rent the item?

$100 urn x 2.5 markup = $250

You have to sell $250 in rentals to

make your base profit on the urn

You can rent it 1x @ $250

You can rent it 5x @$50

You can rent it 10x @$25

• Make sure you have a detailed rental agreement and signed contract to

cover your costs in case of damage or items not returned.

6. MARKETING

AND SOCIAL

MEDIA


Keys to Successful Events: Marketing and Social Media

Choose where you want your events to be shared.

Facebook & Twitter: Have a business page. Tag your

client, your venue and other vendors so your connection

with the event is spread wide and far.

Linkedin: Network with other professionals and event

vendors in your area.

You Tube: Connect with videographers and

create clips of your events.

Pinterest, Flickr, Instagram: Post well-photographed

pictures, #tag the venue, the client and other vendors

involved.

Blog: Share what you do with your closest followers.



• Partner and share links to

other local vendors.

• Partner with photographers for

great photos of your work.

• Attach your name to venues,

#where you are and who

you’re with.

• Put social media tagging in

your contract.

Tag and Be Tagged

the photographer, the model

the area, the theme

the possible searches to

reveal this post



Do NOT Hate Pinterest Brides.

• Use it as a positive form of

communication.

• It gives you an instant glimpse at the

style your client is trying to express.

• Pinterest helps them focus - create

with them and give suggestions.

• Share pins with them to promote your

brand by repinning.



Use Proper Photography!!!!

Questions???

Email: [email protected]

Handouts are available at:

FTDi.com/FTDUniversity/webinarmaterials.htm

Webinar will be available to view at:

FTDUniversity.com

mailto:[email protected]

http://www.ftdi.com/FTDUniversity/webinarmaterials.htm



http://www.ftduniversity.com/

Life of the Party: Creating Profitable Events - FTDi.com · 2014-11-20 · Keys to Successful...

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