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Category:
Published: March 2007
Learn how Gretchen Squires found success as a full-time business owner and a full-time mom.
Success Magazine: How did you get into the flower business?
Gretchen Squires: My father bought the business in 1974, the same year that I went off to college. I was in school for awhile but I really didn't like the atmosphere and didn't find any subject that interested me so I returned home and worked for my parents. My Dad started me in the greenhouse but I really didn't like it there because it was so dirty and, to be honest, the humidity was not flattering for my hair.
SM: Did you enjoy it when you first started out?
GS: Not in the greenhouse, but I got a job at a flower shop in Schenectady to get some experience and I really liked it there. After learning the ropes there I returned to Saratoga and started to work at the Posie Peddler.
SM: At what point did you take over the reins and start to run the show?
GS: I didn't want my parents to just give me the store, I thought that I had to earn it. So I saved up the capital and bought the Peddler from my parents in 1979.
SM: Did you have a business plan going in to the buyout?
GS: Not exactly. I was self-taught, so I learned from my experiences as I went along. At one point I bought out my competitor across the street, Schrades' Flowers, and ran both stores. That didn't make much sense, so in 1984 I closed Schrades and consolidated everything under the Posie Peddler name.
SM: What advice can you give to a new business owner?
GS: Be prepared to work hard. You need to know how to do everything in your business, from specialized skills like horticulture in my case to the basics like accounting.
SM: How did you differentiate your store from the competition?
GS: Once my husband Jim got on board we branded ourselves as a shop that specializes in European floral design. We also made our flowers accessible.
SM: Do you think that you encountered additional stress as a female small business owner?
GS: Oh yes, definitely. I had to bring my daughter into the shop everyday. We had a play pen and crib in the back room. Thankfully I wasn't doing a job like investment banking where I would have to be in meetings all day. Being a florist gave me just enough downtime that I could devote myself to my daughter as well.
SM: Does your daughter have fond memories of her time in the Peddler?
GS: I believe so. She is working on her masters in teaching now and is actually writing her thesis on me as a great mentor and mother. Based on that, I would have to say she had a good time here.
SM: You recently changed locations, why?
GS: We needed more space and wanted a larger walk-in cooler for flower storage. It was stressful, but the move has worked out wonderfully.
SM: What future plans do you have for your business?
GS: We really want to cement ourselves as the accessible high-end flower story in the region, so we will be importing other complimentary businesses to our shop such as silk flowers or other comparable products. We want to be the Mercedes of florists in the region and consistently offer excellence at a reasonable price to our customers.
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