Home gardening is a passion for many people. A person with years of experience gardening can develop knowledge and skills related to the trade. As with many passionate hobbyists, the idea of starting their own business has likely crossed their mind. Turning a hobby into a business can be very rewarding and lucrative as well. Before starting any business though lots of planning and research is required. Many new businesses do not last long and it is not necessarily due to a lack of skill or passion about the goods or services they offer. Lack of planning is often a key factor in why businesses do not succeed. Anyone considering starting their own gardening business should keep the following six steps in mind.
Six Steps To Building A Gardening Business
- Write A Business Plan: no successful business was started without some type of plan. A business plan for a gardening business lists information about the company’s scope and target market. Once products, services, and customer profiles are decided on then the business plan should move into specifics. Factors such as sales, inventory, market size, and employee need have to be carefully calculated even though a new business doesn’t require exact figures for everything. What a business plan is meant to give is a general sense of direction and associated costs. Many businesses fail in the first few years simply due to underestimating business expenses versus revenue. Therefore, a gardening business with a realistic idea and plan of how many sales they can have in order to be income positive has a far greater chance of success than one that simply starts a business without any type of plan.
- Finding A Specialty: gardening is not a specialized term and covers a variety of different work and services. A new business should know what they want to specialize in. A lawn care company has different business needs than one that focuses on flowers. This is also true for companies that focus on selling products for DIY gardeners versus ones that provide landscaping services. A new gardening business can’t do everything and likely lacks the resources to even consider such an approach. Specialization allows a company to focus on what they’re knowledgeable about and become experts in their particular niche. To give an example a flower business that are experts on rare hard to find plants can become very successful with that particular market segment.
- Gathering Resources: after writing a business plan and deciding on the scope of the business the next step is gathering resources. In terms of a business, this includes office space, company vehicles, equipment, supplies, and other resources. Where a lot of new businesses falter is that they start offering services before they have the correct equipment to do so. Subpar services only damage a new company’s reputation and the extra wait time is worthwhile if it makes a company better prepared. As gardening is a very visual service low-quality work is quickly noticed and highly devastating to a business’s reputation.
- Building A Brand: building a brand for a gardening business is similar to brand building of any other type of a business. By building a brand customers will become aware of a company and the services they offer. An easy way to differentiate from the competition is through the use of a logo. A memorable logo stands out in the minds of customers and also can tell a person what a company is and what they do. An effective logo can be used on everything that represents a business from business cards to company vehicles. Brands are also built through advertising, word of mouth, and simple customer awareness. A new gardening company can get their name out through social media, websites, and more traditional methods such as trade shows or radio commercials.
- Planning For The Future: as a gardening business grows in customer base and income general plans should be undertaken for future growth. A business owner without a general idea of the direction they are taking misses out on potential growth opportunities. Also, the lack of a future plan can damage a business’s long-term viability. Topics to consider include growing the customer base, business expansion, selling in new markets, potential partnerships, and new company locations.
- Proper Financial Management: one of the first steps a business must take as it grows is hiring a professional accountant. When a gardening business is in its early phases the business owner may be able to easily manage expenses and bookkeeping. However, as a business grows its accounting needs grow as well. Hiring a professional accountant keeps the books balanced and guarantees that all financial laws properly followed.