Blossoming business on market for first time

Do you have a love for flowers or are you looking to own a profitable semi-managed business?

One of Auckland’s premier retail boutiques, renowned for the highest quality cut flowers, crafted flower arrangements and high-end gift options, is now on the market.

The popular Flowers After Hours is being brought to the market by ABC Business Sales’ Richard Stevens and Wendy Liew.

Having stood in its landmark location between Newmarket and Parnell since 1992, this boutique florist operates seven days a week on the main arterial route through and between Auckland’s wealthiest suburbs.

Established 30 years ago, it is a well-known and regular destination for generations of Auckland’s leading families, sports and media personalities, public figures, corporates and partygoers.

Trading at the top end of the market, the Flowers After Hours brand is synonymous with the highest quality cut flowers, arrangements and gifts for everyone’s important occasions.

An active social media programme maintains customer interest and engagement.

Flowers After Hours is a semi-managed business allowing the owners to work on the business and not be trapped in the business.

The team of five talented and experienced florists effectively run the day-to-day operations and all are capable of carrying out key aspects of the business in the owner’s absence.

They have a well-structured and proven e-commerce online operation which accounts for around one-third of the turnover and orders. The balance is by phone and walk-ins to the retail shop, again proving the strength of the location, which has encouraged the owner to recently sign a new three-year lease.

“The great thing is you don’t need to be a florist to succeed with this business,” says Stevens.

The owner says, “My wonderful loyal team, who have shared my journey for some years now, are a valuable asset. They gave me the freedom to travel, allowing me time to gather fresh ideas and to simply recharge while they ran the busy store.”

Loyal and repeat customers are the cornerstone of any great retail operation, but few more so than in the case of Flowers After Hours.

Inspiring and serving the needs of many of Auckland’s customers, who mostly hail from the Auckland CBD and central suburbs, sets high standards for the business.

Relying mostly on referrals means teamwork tirelessly to ensure every stem, every arrangement, every feature bouquet, needs to deliver the passion, attention to detail and value that will bring customers back over many years.

There is a low working capital requirement. With the high turnover and perishable nature of the stock being bought almost daily from markets, the business operates in a positive cashflow trading environment. There is also a well-spread revenue stream.

The strength of both the online operation and the retail store both gives growth opportunities in each revenue stream and minimises the risk in any one sales channel.

Flowers After Hours has plenty of growth opportunities. There is potential to expand the gifting range with new products, take advantage of corporate events and functions and even expand into weddings.

Few retail businesses are as consistent in revenue and profits. A large and loyal customer base will continue to support the business as the post-Covid environment unfolds. The business delivers a generous annual return and is positioned for sale at a multiple under three times EPBITD to ensure it is a strong investment option for a working owner.

Contact: Richard Stevens, 021 375 149; Wendy Liew, 021 212 9534.

— Article supplied by ABC Business Sales