AT THE DANGWA Flower Market, some 50-plus vendors sell an array of fresh cut flowers 24 hours a day, 7 days a week. This market has been there for more than 30 years. Retail buyers and those with floral businesses flock to this market for their floral needs.
Jay Domingo and his wife Gina run a branch of Pat’s Flowers & Supplies in Dangwa. The main outlet located in Quiapo was put up by Gina’s grandmother in the early ‘70s. It still exists today.
As the name suggests, Pat’s Flowers & Supplies does more than just provide flowers: They also make available to flower shops the supplies they need, from pots, ribbons, and other tools of the trade.
But five years ago, they started doing retail floral arrangements for consumers. They called this business Flora Grande. Business is brisk on Valentine’s and All Saint’s Day, when sales would be ten times higher than a normal day’s sales. Flora Grande also gets a lot of requests for sympathy floral arrangements, wedding arrangements, and arrangements to decorate stages during school affairs. Jay said they would like to expand the business by putting up a website offering gifts and flowers so OFWs abroad can send these to their relatives in the Philippines. They can even do exports.
There is a lot of competition now for Pat’s Flowers & Supplies in Dangwa, and profit margins have become leaner. Jay and Gina are thus faced with a dilemma: Should they still continue Pat’s Flowers & Supplies in Dangwa? Or should they just close it and focus on Flora Grande?
The thing holding them back is sentimentality. Gina was raised by her grandmother Pat, and so is reluctant to let go of the business. The couple is also reluctant to take that step as they will not be able to absorb the 12 people employed — all old-timers — by Pat’s Flowers & Supplies. Mentor Willy Arcilla sums this up as the couple’s “fear factor — fear of the future.”
How can Jay and Gina address this dilemma? Willy suggests the following:
1. Define your mission and vision. Ask yourself: What do you want to be? A business with P50 million as long as grandma is happy, or a business with P100 million even without grandma’s business?
2. Make a business plan. Putting it on paper will force you to think. “A business plan is not just for multinationals,” says Willy. Study the cost benefit of keeping or letting go of one business.
3. Find out how you can differentiate yourself from other vendors in Dangwa. Jay and Gina said the flowers they use for Flora Grande’s arrangements are different from others’. That can already be the company’s competitive edge.
4. Segment the market. Decide whether you want to focus on institutional customers or retail customers, and whether you want to focus on sympathy, romance, or wedding arrangements. Decide which market you want. “You cannot be everything to everybody,” says Willy.
5. Know your consumer. Once you have identified your target market, find out what he/she likes: his/her favorite color and favorite flowers, then prepare arrangements to suit his/her likes.
6. When putting up the website, beat the top competitor. Show the flowers and the benefit one can get from them. “Find the human emotion — it is the highest form of consumer need.” Think of Kodak offering not just photos, but memories.
What would happen if Jay and Gina follow Willy’s recommendations? Abangan! 
Editor’s note: Photo courtesy of Jay Domingo
May 15th, 2008 at 10:54 am
Dear Willy,
Yes passion is important in any endeavor. My point is your passion will not always be profitable. Sometimes it will be costly. But that should not discourage you because not all worthy endeavors are necessarily for profit. Social work and philanthropy may not be profitable but they are certainly noble.
My wife kept lending even when we’re not getting paid because she wants to help people. I said that’s ok but recognize that we’re not running a business here, we’re engaged in charity. Cheers.
May 14th, 2008 at 9:02 pm
Dear Pinoy Investor,
Greetings. One thing I’ve learned from many successful people is that they have been successful precisely because they followed their hearts. Of course that’s not enough. If you combine that passion with your talent/strength or what you’re good at, then direct these against an unmet or underserved consumer need or want, then you have the necessary ingredients for a successful endeavor — whether you’re an entrepreneur, employee, civil servant or NGO. Cheers.
May 12th, 2008 at 4:26 pm
It’s trite to say pursue your passion. What if your passion isn’t profitable? You can still do it but call it a hobby or a personal mission, not a business. A business is for profit. Is cut flower a business or something more personal?