Answering Top Questions About Insurance, Budgets, and Exclusivity Rights

If you're transitioning from wedding florals to working with hotels, understanding the administrative side of things is crucial. In our latest podcast episode, "Answering Top Questions About Insurance, Budgets, and Exclusivity Rights," we dive into the essential details that will help you navigate this new landscape. Here's a breakdown of what we covered:

1. Insurance Requirements

When working with hotels, you'll typically need general liability insurance, often in the range of 1-2 million dollars. 

This requirement can vary based on the hotel's policies and location. But don't worry—this topic usually comes up after the contract is signed, so it's not something you need to stress about during the proposal phase. 

Once the time comes, simply contact your insurance broker with the hotel's requirements, and they can adjust your coverage accordingly.

2. Understanding Hotel Budgets

One common question is whether General Managers (GMs) know the exact budget for floral arrangements. While they might not have the precise figure, they generally have a good ballpark idea. 

GMs are involved in budget discussions annually, usually around September, where they review and negotiate expenses based on past performance and future projections. They may also reallocate funds from other areas if needed, without having to seek additional approval from the hotel owners, thus avoiding the hassle of opening the budget for competitive bids.

3. Contracts and Exclusivity

Exclusivity rights in your contract mean that you are the only florist the hotel partners with, but this doesn't necessarily guarantee you'll handle all their events or weddings. 

Hotels usually can't commit their event clients to a specific florist, as the choice ultimately lies with the client. However, your established relationship with the hotel can be a selling point, and collaborating with the hotel's sales and marketing team can open up additional opportunities.

For a deeper dive into these topics and to learn how to secure your position in the hotel floral industry, listen to the full episode of "Answering Top Questions About Insurance, Budgets, and Exclusivity Rights."

Already a florist and eager to expand into luxury hotels and create consistent income? Check out our free masterclass! It's packed with actionable insights to help you succeed.

Keep blooming, Franceska

PS: Did you know I have a bestselling book on working with hotels? It's available on Amazon!