Floral Shop Accounting 101
Where do you go when you need essential flower shop accounting, financial management, and benchmarking best practices? Does this crucial information even exist in a way that’s specific to the complexities of running a flower shop? The Society of American Florists’ has this information all in one place.
SAF’s Floral Management magazine published a 17-part series on Floral Shop Accounting 101. It covers balance sheets, payroll, collections, COGs, cash flow, design room efficiency and more with advice from two experts on floral finances — Paul Goodman, MBA, CPA, PFCI, president of Floral Finance Business Services and Derrick Myers, CPA, CFP, PFCI, president of Crockett, Myers & Associates, Inc.
Derek Myers, CFP, CPA, PFCI
Crockett, Myers & Associates
As the president of Crockett, Myers and Associates in Glen Burnie, Md., Myers has earned a reputation for providing industry-specific financial advice to florists who want to improve profitability and build a more successful business.
In addition to offering expert insight on daily shop management, Myers guides businesses and individuals toward their financial planning goals through tax, estate and financial planning. Over three decades, he has perfected his Floral Analysis Program. Myers has used the program to analyze the financial statements of hundreds of florists, showing them exactly where to focus their time and energy to reduce costs and increase profits.
An engaging and dynamic speaker, he has led workshops and seminars through SAF and state associations and is a contributing writer for SAF’s Floral Management magazine.