Almost shut down my flower shop after 6 years, the problem wasn't the business, it was me not knowing what I didn't know.
I've been going back and forth on posting this but I think I finally want to.
I opened my shop in NE Portland in 2018. It survived COVID somehow, mostly pivoted to delivery and sympathy arrangements, which honestly kept the lights on. By 2022 I felt like the hard part was over. We were doing weddings again, my wholesale costs had stabilized, I had one full time employee.
Eighteen months ago I sat down to figure out why I never seemed to have any money saved despite the business feeling okay. Like I wasn't struggling exactly but I also had basically zero financial cushion. One bad month away from problems.
I thought maybe I just needed to raise prices. So I did. Margins improved a little. Still no cushion.
I thought maybe my employee costs were too high. Did the math. They weren't.
I genuinely could not figure it out and I remember telling my mom on the phone "I think I'm just bad at business" and she goes "or maybe you just can't see where it's going."
She was right and I hate that she was right.
Here's what I eventually found when I actually dug into everything properly: I was paying for cold storage insurance AND a separate contents policy that overlapped almost completely, duplicate coverage I'd set up years ago and forgotten. I had a subscription to a floral design platform I'd used for like three weeks and abandoned. I had two different payment processors because I'd switched but never turned the old one off, and both were charging monthly minimums.
None of it was intentional. I was just busy and I never had a clear view of everything at once. I was running the business out of vibes and a bank balance, and the bank balance was always technically positive so I assumed I was fine.
Once I could actually see my full picture, every account, every recurring charge, real cash flow, I found almost $900/month that was just… leaving. Quietly. For nothing.
The shop is still open. I have an actual emergency fund for the first time. I'm not posting this to brag, I'm posting it because I wasted probably three years of stress that I didn't need to have.