Here's a question I get asked a lot: "Kathleen help!!! I'm not sure how to raise the prices in your flower business?!?!?"
Welcome to 2022, peoples. Petrol prices are rising. Staff costs are increasing. And wholesale flower prices keep going up. What's a florist to do?!?!?
If any of these questions have ever crossed your mind, you're not alone. You might be searching high and low for answers to questions and wondering about things like: What should I do about inflation? What do I need to know about raising fuel prices? Flower prices? Delivery prices? Labour prices?
You might be thinking, "Everything keeps going up. I don’t know how to counter that effectively."
You're not alone!
It's kinda like the last 24-36 months have put all of our self-doubt and fears under a magnifying glass. Maybe you're like so many florists, and last year was the year you finally wrapped your head around charging the right premium.
And now, in 2022, you're faced with rose prices almost twice what they were a little while ago. So, you're back to feeling riddled with doubt, second-guessing your approach and walking around on eggshells, afraid to raise your prices.
I'm here to help!!!
The Quickest Approach: How to Raise the Prices in Your Flower Business
Here's my simplest answer to the question, "How to raise the prices in your flower business"...don't be alarmed cause it's stupidly simple.
You. Just. Raise. Your. Prices.
You grab a pen and paper and you sit down and do the math. And then go into your business update your prices.
And you do that right now.
You don't need permission. You don't need a special form to make it happen. You don't need to wait until Monday or the first of the month or the beginning of the next financial year.
As the kids at Nike say, Just Do It.
Of course, it's way easier said than done, right?
For most of us, when we're told to just go rip the bandaid off, it brings up all kinds of uncertainty and self-doubt. Unpacking those stories is the real task at hand (welcome to being a human being with a human brain!).
So, here's my 3-step solution to making it work...
Step 1: Get Curious
When it comes to thinking about what's standing in your way, what's preventing you from simply going out and doubling your prices, you might feel as though there is some sort of invisible force holding you back.
That invisible force is your limiting beliefs.
We all have them.
It's that little voice in our head that comes up with dozens of seemingly valid reasons why we shouldn't just rip the bandaid off and raise our prices.
Maybe that little voice in your head is saying, "You'll lose all your customers" or "This won't last forever. Just ride it out."
Or maybe it's saying, "No one else is raising their prices. You shouldn't either."
Job #1 when it comes to taking action and learning how to raise the prices in your flower business: get curious about what little voice is offering up to you.
And do this from a space of compassion and curiosity – this is all about making space for fear and doubt. Continuing to beat yourself up and talk down to yourself ain't gonna help the situation. (Trust me, I've tried that approach!)
How do you do it? Easy, grab a pen + paper and start writing down all the stories you're telling yourself. Every single reason your brain is offering up.
All of them. Don't judge them. Don't beat yourself up for any of it. Just get curious.
Once you've filled a full piece of paper with all your thoughts, you'll begin to see that it is just that: a buncha thoughts. It's all a bunch of stories we're telling ourselves to stay safe.
Again, nothing has gone wrong here. You are a human being with a human brain and this is how the whole thing is programmed to operate.
Just the simple act of getting the words out of your head and onto paper is one of the powerful mindset management tools we can use. You start to regain your authority and power of your thinking just by seeing the words on paper.
And you start to look at the stories differently when you can actually "see" the words in front of you. It puts you and your prefrontal cortex back in the driver's seat. It's the first step in the process of learning how to raise your prices in your flower business.
Step 2: Flip the Script
One of the most fascinating features of your human brain is that it will continue to be on the lookout for evidence to support your own belief systems. Even if those belief systems aren't serving us, it's how your brain is programmed to operate.
For example, if you're telling yourself, "No one else is raising their prices therefore I can't either." Your brain is always on the lookout for proof that the story is true.
It's like a self-fulfilling prophecy and keeps you stuck in your under-earning cycle.
The beautiful thing is that the reverse is also true. You can intentionally build an entirely new belief system by finding evidence of a new story, a more empowering perspective.
This is what I call "Flip the Script".
Instead of finding examples of businesses that aren't raising their prices, be on the lookout for businesses that have.
Here's two of my most favourite examples from the past few months:
- Ikea – I bought this bookshelf 18 months ago for $199 AUD. Today, it retails for $269 AUD. That's a 35% price increase in just over a year.
- Petals Network – when I first started flowering, Sweet Thoughts was one of the cheapest flower arrangements we made. In 2015, the smallest size retailed for less than $40 AUD. Today, the smallest size is listed for $82 AUD. That's a 105% price increase.
Now it's your turn.
As you're navigating the day, go out of your way to find even more examples of businesses whose prices have increased.
Once you start to look for it, you'll start to find lots of examples (and no doubt, the petrol station is a great place to start)!
Step 3: Raise Your Prices
The best bit about raising your prices is that you actually don't need to wait until the beginning of the week, the beginning of the month or the beginning of the quarter.
You can go in right now and update your pricing.
No explanation is required.
Now, don't be surprised when your brain tells you it cannot be that easy. (Remember, nothing has gone wrong if you hear that little voice in your head saying "Oh it cannot be that easy" or "What will my customers think?")
The truth is, your most valuable customers won't be surprised by a price increase. And yes going in on a random Thursday and updating your prices really is as simple as updating your prices.
Back to Basics: Looking for my step by step guide to pricing your floral designs? Check out this helpful blog post Florist Pricing Worksheets
Let's Go Deeper: How to Raise Your Prices Like a Boss
When it comes to taking action and learning how to raise the prices in your flower business the #1 reason we avoid doing anything is based in fear.
Fear that all the customers will go away. Fear that you'll be too expensive. Fear that you'll never get another paying customer again.
No, it doesn't matter if you're a brand new floral designer with zero qualifications or if you're a seasoned veteran with a fancy shopfront. We all have these thoughts pop up.
Why? Cause you're a human being and you have a human brain. And here's the secret to being a Flower Boss: learning to overcome fear and reframe your thinking is how you take action and raise your prices.
And it's exactly what I'm digging into this in this week's podcast episode.
Inside This Week's Podcast Episode You'll Learn:
✓ Why most floral designers are afraid to raise their prices
✓ How to overcome all the fear and take action
✓ My step by step approach to increasing your prices
✓ My exact approach to communicating your price increase to your most valued clients
Listen to the full episode here
Full Episode Transcript