Start a botanical garden business by following these 10 steps:
You have found the perfect business idea, and now you are ready to take the next step. There is more to starting a business than just registering it with the state. We have put together this simple guide to starting your botanical garden business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.
Check out our How to Start a Business page.
STEP 1: Plan your business
A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:
- What are the startup and ongoing costs?
- Who is your target market?
- How much can you charge customers?
- What will you name your business?
Luckily we have done a lot of this research for you.
What are the costs involved in opening a botanical garden business?
Owners have to take into account the cost of the land, salaries of the staff, property taxes, and commercial insurance.
What are the ongoing expenses for a botanical garden business?
Botanical gardens need to account for maintenance costs, staff salaries, third-party services, and commercial insurance.
Who is the target market?
The ideal demographic will depend on the purpose of the botanical garden. You may be looking for cosmetic companies who want to test new scents from different plant species or hybrids. Or you may want to market your business to the general community, so they can enjoy the blooms and learn more about conservation.
How does a botanical garden business make money?
Botanical gardens make money based on their purpose. For example, a botanical garden may have a contract with a university or company to produce research on new plant species. If the space is being used largely for the public, patrons will pay an admission fee to tour the garden. Botanical gardens may also offer guests the chance to become members or rent out the garden for special events (e.g., weddings, etc.).
How much can you charge customers?
If you choose to contract with public or private organizations, the price will be determined by the scope of work and general demand for your services. A typical ticket for an individual adult may cost between $12 to $30, depending on the area and amenities of your garden. Membership fees may be about $75 for a year.
How much profit can a botanical garden business make?
A single garden may welcome as many as 150,000 guests a year (or more). If the average cost of a ticket, the gross revenue would be $1.8 million. After the land is paid off, the profit margin for a botanical garden may be substantial.
How can you make your business more profitable?
Many organizations may need to rent out space for their events, so make the garden as versatile as possible. From weddings to company retreats, there are a variety of ways to utilize your space to make it as profitable as possible.
What will you name your business?
Choosing the right name is important and challenging. If you don’t already have a name in mind, visit our How to Name a Business guide or get help brainstorming a name with our Botanical Garden Business Name Generator
When registering a business name, we recommend researching your business name by checking:
- Your state's business records
- Federal and state trademark records
- Social media platforms
- Web domain availability.
It's very important to secure your domain name before someone else does.
STEP 2: Form a legal entity
Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your botanical garden business is sued.
Form Your LLC
Read our Guide to Form Your Own LLC
Recommended: You will need to elect a registered agent for your LLC. LLC formation packages usually include a free year of registered agent services. You can choose to hire a registered agent or act as your own.
STEP 3: Register for taxes
You will need to register for a variety of state and federal taxes before you can open for business.
In order to register for taxes you will need to apply for an EIN. It's really easy and free!
You can acquire your EIN for free through the IRS website, via fax, or by mail. If you would like to learn more about EINs and how they can benefit your LLC, read our article, What is an EIN?.
Small Business Taxes
Depending on which business structure you choose, you might have different options for how your business will be taxed. For example, some LLCs could benefit from being taxed as an S corporation (S corp).
You can learn more about small business taxes in these guides:
There are specific state taxes that might apply to your business. Learn more about state sales tax and franchise taxes in our state sales tax guides.
STEP 4: Open a business bank account & credit card
Using dedicated business banking and credit accounts is essential for personal asset protection.
When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil.
Additionally, learning how to build business credit can help you get credit cards and other financing in your business's name (instead of yours), better interest rates, higher lines of credit, and more.
Open a business bank account
- This separates your personal assets from your company's assets, which is necessary for personal asset protection.
- It also makes accounting and tax filing easier.
Recommended: Read our Best Banks for Small Business review to find the best national bank, credit union, business-loan friendly banks, one with many brick-and-mortar locations, and more.
Open net-30 accounts
When it comes to establishing your business credit, net-30 vendors are considered the way to go. The term "net-30," which is popular among vendors, refers to a business credit arrangement where the company pays the vendor within 30 days of receiving goods or services.
Net-30 credit terms are often used for businesses that need to obtain inventory quickly but do not have the cash on hand.
Besides establishing business relationships with vendors, net-30 credit accounts get reported to the major business credit bureaus (Dun & Bradstreet, Experian Business, and Equifax Business Credit). This is how businesses build business credit so they can qualify for credit cards and other lines of credit.
Recommended: Read our guide on the best net-30 vendors so you can start building business credit now, so you never have to worry about cash flow in the future. Keep in mind that poor cash flow is the #1 reason businesses fail!
Get a business credit card
- This helps you separate personal and business expenses by putting your business' expenses all in one place.
- It also builds your company's credit history, which can be useful to raise money and investment later on.
STEP 5: Set up business accounting
Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.
STEP 6: Obtain necessary permits and licenses
Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.
STEP 7: Get business insurance
Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Business Insurance protects your company’s financial wellbeing in the event of a covered loss.
There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face, begin with General Liability Insurance. This is the most common coverage that small businesses need, so it’s a great place to start for your business.
Learn more about General Liability Insurance.
Another notable insurance policy that many businesses need is Workers’ Compensation Insurance. If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage.
STEP 8: Define your brand
Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.
If you aren't feeling confident about designing your small business logo, then check out our Design Guides for Beginners, we'll give you helpful tips and advice for creating the best unique logo for your business.
How to promote & market a botanical garden business
An owner should be building relationships whenever and wherever possible, regardless of why they want to open their gardens. Even if it’s strictly for public enjoyment, there’s a conservation element to any botanical garden that should spark the interest of community leaders. So while an owner may want to invest in a website and online advertising, they’ll likely have the best chance of success if they can leverage community and institutional support to build their customer base.
How to keep customers coming back
Attracting customers starts with having an organized and efficient layout. The higher the quality of cultivation of your garden, the more likely it is that clients and customers will continue using the gardens. If the plants are intended for public use, make sure that all customers are treated with respect and all events are professionally organized and executed.
Still unsure about what kind of business you want to start? Check out the latest Small Business Trends to help inspire you.
STEP 9: Create your business website
After defining your brand and creating your logo the next step is to create a website for your business.
While creating a website is an essential step, some may fear that it’s out of their reach because they don’t have any website-building experience. While this may have been a reasonable fear back in 2015, web technology has seen huge advancements in the past few years that makes the lives of small business owners much simpler.
Here are the main reasons why you shouldn’t delay building your website:
- All legitimate businesses have websites - full stop. The size or industry of your business does not matter when it comes to getting your business online.
- Social media accounts like Facebook pages or LinkedIn business profiles are not a replacement for a business website that you own.
- Website builder tools like the GoDaddy Website Builder have made creating a basic website extremely simple. You don’t need to hire a web developer or designer to create a website that you can be proud of.
Using our website building guides, the process will be simple and painless and shouldn’t take you any longer than 2-3 hours to complete.
STEP 10: Set up your business phone system
Getting a phone set up for your business is one of the best ways to help keep your personal life and business life separate and private. That’s not the only benefit; it also helps you make your business more automated, gives your business legitimacy, and makes it easier for potential customers to find and contact you.
There are many services available to entrepreneurs who want to set up a business phone system. We’ve reviewed the top companies and rated them based on price, features, and ease of use.
Recommended: Find the best phone system for your business; check out our review of the Best Business Phone Systems 2021.
Start A Botanical Garden Business In Your State
Select your state below for an in-depth guide on completing each of these steps in your home state.
Is this Business Right For You?
The ideal owner will have a passion for botany. Whether they’re growing plants for scientific research or to share with the community, they should understand how new species and hybrids can fulfill the overall mission of their organization.
Want to know if you are cut out to be an entrepreneur?
Take our Entrepreneurship Quiz to find out!
What happens during a typical day at a botanical garden business?
The majority of an owner’s days will be spent maintaining the land and managing the staff. They’ll make final decisions regarding which species to plant and where to plant them. They'll do research on new hybrids, seeds, and conservation efforts and evaluate the merits of each new development in their industry. Owners will also need to schedule daily activities, test growing conditions, and manage third-party vendors.
What are some skills and experiences that will help you build a successful botanical garden business?
Owners should have an advanced degree in botany and some history with a professional gardening organization. Owners need to understand the exact conditions each plant needs to flourish and what it takes to cultivate them to their fullest potential.
What is the growth potential for a botanical garden business?
The growth potential for a botanical garden depends on the existing options in the area. Many large cities already have a botanical garden space, so owners will need to find a new angle if they’re hoping to stand out. For example, they may want to grow exotic plants from a single region, or offer exclusive services to a private or public organization.
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Take the Next Step
Find a business mentor
One of the greatest resources an entrepreneur can have is quality mentorship. As you start planning your business, connect with a free business resource near you to get the help you need.
Having a support network in place to turn to during tough times is a major factor of success for new business owners.
Learn from other business owners
Want to learn more about starting a business from entrepreneurs themselves? Visit Startup Savant’s startup founder series to gain entrepreneurial insights, lessons, and advice from founders themselves.
Resources to Help Women in Business
There are many resources out there specifically for women entrepreneurs. We’ve gathered necessary and useful information to help you succeed both professionally and personally:
If you’re a woman looking for some guidance in entrepreneurship, check out this great new series Women in Business created by the women of our partner Startup Savant.
What are some insider tips for jump starting a botanical garden business?
There is no official designation for botanical gardens. Any garden can be called this without challenge. However, it may help for owners to legitimize their business from the very beginning. One way to do this is to be granted an American Public Gardens Association Institutional Membership. This association will evaluate your garden against the following criteria:
- Is the garden open to the public?
- Does it function as an educational display or for site research?
- Will the staff maintain official records for its plants?
- Does the garden employ at least one staff member?
- Will the garden have official labels or educational materials for the public?
Starting a traditional botanical garden will be a huge undertaking, both in terms of expenses and labor. From the cost of the land to the design of the plants and shrubs, owners will likely run into more incidental costs than they realize. Grants or investors may be able to offset some of your costs, depending on the mission statement of your garden. However, owners need to have a solid business plan before they start taking action.
One way to determine the interest level for a botanical garden is to talk to other professionals in the field. They can let you know more about how their garden was financed and what it takes to turn a profit. Or you can talk to a university or corporate leader to learn more about the specific commercial advantages of the growing conditions in your area. They may be open to doing a work-study program that coaches a new generation on how to take full advantage of their limited resources.
You can also consider opening up a smaller version of a botanical garden as a green space for the community. If you live in harsh environmental conditions, you can consider opening a greenhouse to give people access to flowers and color all year round. A smaller, public-facing organization not only exposes people to more varieties of plants and animals, but it may also provide a beautiful backdrop for special functions or private events. For example, couples can use the gardens for their weddings and reception.
How and when to build a team
You'll likely need to hire a team immediately to tend to the land. Choose people who are curious about the natural world around them. Botanical gardens need people who can test the limits of what we know to discover what we don't. You'll also need team members who are comfortable interacting with guests if you choose to open your doors to the public.