Pricing Floral Designs

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Presentation transcript:

Pricing Floral Designs Principles and Elements of Floral Design 130.18 (c)5E

Today We Will Determine the retail value of floral arrangements Define basic retail terms

Definitions Wholesale: goods sold in bulk to organizations rather than consumers Wholesale Price: price of goods at a wholesale stage Retail Price: the price at which the manufacturer recommends that the retailer sell the product Labor: human activity that produces or services. Mark-up: an amount added to the cost of an item or service to determine the selling price. Overhead: expenses and the general costs of running a business.

Step 1: Identify All Items in Arrangement 6 Roses 6 Lilies 6 Calla Lillies 4 Lotus Pods 4 Lycopodium 4 Fescue

Step 2: Obtain a Pricing List Price List Container – $18.99 Wristlet - $1.25/each Ribbon - $.50/yard Calla Lilly (bunch of 10) $25.00 Roses (bunch of 25) $25.00 Lillies (bunch of 10) $18.00 Alstromeria (bunch of 10) $8.95 Hypericum (bunch of 10) $7.50 Lycopodium (bunch of 10) $9.50 Floral Foam - $1.99/block English Ivy – (bunch of 10) $3.99 Nandina – (bunch of 10) $3.99 Lowlander Grass – (bunch of 10) $5.00 Fescue – (bunch of 10) $3.00 Lotus Pods - $1.99/each

Step 3: Calculate the Price Per Stem Roses: $25 per bunch (25 flowers) $25 / 25 flowers = $1.00 per Rose stem Price Per Bunch / Number of Stems in Bunch = Price Per Stem

Step 3: Continued Roses: $25 /25 = $1.00 per stem Lillies: $18 / 10 = $1.80 per stem Calla Lillies: $25 / 10 = $2.50 per stem Lotus Pods: $1.99 per stem Lycopodium: $9.50 / 10 = $0.95 per stem Fescue: $3.00 / 10 = $0.30 Lotus pods are already priced individually

Step 4: Calculate Cost of Arrangement Roses: $1.00 x 6 = $6.00 Lillies: $1.80 x 6 = $10.80 Calla Lillies: $2.50 x 6 = $15.00 Lotus Pods: $1.99 x 4 = $7.96 Lycopodium: $0.95 x 4 = $3.80 Fescue: $0.30 x 4 = $1.20 Price per stem X number of stems used = Total cost of each flower/item

--------------------------- Step 4: Continued Add up the total cost of the arrangement Roses: $6.00 Lillies: $10.80 Calla Lillies: $15.00 Lotus Pods: $7.96 Lycopodium: $3.80 Fescue: $1.20 --------------------------- $44.76

Step 5: Apply Mark Up Multiply total cost by mark up ratio and round up to a whole number to determine retail price 2:1 Cash and Carry fresh cut flowers 3:1 Bud vases 4:1 Specialty and contemporary designs 5:1 Wedding party arrangements

Rounded up = $224 (Final retail price) Step 5: Continued This arrangement will be used in a wedding $44.76 x 5 (Wedding mark up) = $223.80 Rounded up = $224 (Final retail price)

Final Cost $224