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The Flower Project

Why take the plunge into the unknown? For florist Kathryn Fleming, it was the desire to be her own boss. Kathryn knew she would struggle at the start, but find out how she’s made her business idea bloom.

ANZ Customer story

 

Kathryn Fleming believes the key to a successful start-up is perseverance. Twelve years ago, she moved back home to New Zealand from the UK and found the gaps in our marketplace exhilarating, so was motivated to start her own business.

“I fancied the freedom and I knew that if I didn’t do it now, I would never do it and so I took the plunge”

She started her first business Boudica Flowers, the old fashioned way by door knocking.

One of the doors she knocked on was a niche-grocery retailer who just happened to be looking for an in-store florist. Kathryn jumped at the opportunity and credits the seven years she spent on the shop floor as an invaluable experience.

Kathryn learnt early on that understanding and managing cash flow was paramount to success. She credits ANZ for keeping her afloat during the lean times and supporting growth when times were good: “I’m always asking for different things…whether it's finance for a car, or finance for an extension, a different structure for our repayments… there’s always something that comes up and it's always been very flexible.”

Boudica Flowers continues to turn a profit and has even helped bankroll a second business “The Flower Project”, a joint venture with Kathryn’s technologically-savvy brother.

An online-only subscription service, The Flower Project allows customers to order weekly, fortnightly, monthly or one-off custom bouquets: “no middle man, straight from the market to your house, whatever is fresh on the day”.

“A lot of the mistakes I made, I didn’t even realise I’d made them until way down the line and things weren’t selling or I’d bought too much or not enough, or I was selling something too expensive. It’s just learning and knowing and experience.”

Subscribers

Subscribers range from husbands on the hunt for a romantic anniversary gift, to the time-poor who love seasonal flowers, to those simply interested in improving their DIY floristry skills.

Unlike a traditional bricks and mortar business, online commerce requires a different skillset than Kathryn is used to. “A huge part of an online business is worrying is your website going to be seen?” Regularly servicing social media, vlogging, and understanding how to rank highly in Google searches are now essential parts of her business management; she admits the learning curve has been steep.

“The biggest challenge in my view is just having the skills that cover every single aspect of the business…there’s so many skills you need, especially when you’re online because of all the marketing.”

The online investment is paying off, The Flower Project has had steady growth in the two years it’s been active and shows no signs of slowing down.

Looking back over her career in small business, Kathryn says taking advice whenever the opportunity arose was important for her growth, whether it was tapping into her brother’s knowledge of online commerce, scanning social for photography tips, or signing up for small business events.

"I’ve met a lot of other young entrepreneurs and start-ups through going to workshops, women-only seminars and all sorts of business building workshops which have been beneficial."

Her advice for newcomers starting out, “It won’t be easy, and it will take a lot of endurance but stick at it and you will get there in the end, as long as you’ve got a good response in the beginning and your feedback is good, you’re onto a winner.”

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This material is for information purposes only. Its content is intended to be of a general nature, does not take into account your financial situation or goals, and is not a personalised financial adviser service under the Financial Advisers Act 2008. It is recommended you seek advice from a financial adviser which takes into account your individual circumstances before you acquire a financial product. An ANZ Authorised Financial Adviser will, on request and free of charge, provide you with his or her disclosure statement prepared under the Financial Advisers Act 2008. If you wish to consult one of ANZ's financial advisers, please contact us on 0800 269 296.

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