Economic outlook appears rosy for long-time Westmont-based florist
January 10, 2012 by Sarah
A Westmont-based florist is digging out from the recession in a big way. Phillip’s Flowers & Gifts has been a staple of Westmont for 88 years. As 2012 gets underway, the family-owned business has made an arguably a high risk decision to open a 10th location on the Near West Side of Westmont. The distribution warehouse is intended to accommodate downtown area customers. Flyer printing could help get the word out about the new location.
Phillip’s executive vice president Baxter Phillip, a grandson of the founders, says the floral company needs to produce more than $1 million in annual sales for the investment to pay off. That’s quite a challenge considering the typical florist shop sells a fraction of that amount; generally less than $200,000 a year.
It doesn’t take an economist to figure out that those numbers are less than promising. Phillips admits the going may be tough for the first year or two but he is confident the economy will be strong over the long term. The New Year is expected to bring a gradual but continuous economy recovery in Illinois and across the U.S.
Townspeople have inquired into Phillip’s Flowers & Gifts decision to jump into such a big venture in an economy that is improving but my no means fully recovered. Some people have gone so far as to question the sanity of the company, asking ‘What are you crazy?’ Phillips said.
The florist shop delivers flowers in Westmont, Clarendon Hills, Darien,, Oak Brook, Lisle, Downers Grove and surrounding suburbs, according to its website.