We are thrilled to announce the expansion of our business, A florae, which has been thriving for the past 14 years. Amidst the challenges of the pandemic, we seized an opportunity for growth in October 2020, relocating from a modest 1500 square foot space to a prime 4822 square foot location on Main Street in downtown Longmont, CO. What initially began as a small floral design studio has blossomed into a multifaceted establishment, encompassing a women's and children's clothing store, home goods boutique, thrift store, and a full-service floral design business, all under one roof.
Now, as we embark on our next chapter, we are expanding into a second location at the inception of the downtown strip. This new space will serve as our office headquarters, alongside an additional 760 square feet studio space, an inviting outdoor patio, and a spacious 1645 square foot event venue. We envision this expansion not only as a means to nurture our floral design business but also to cater to a growing demand for versatile event spaces in Longmont.
Drawing upon our extensive experience of 14 years in the Colorado weddings and events industry, we have cultivated a loyal following and forged robust partnerships with vendors, clients, and the Longmont Downtown Development Authority. Our accolade as the recipient of the 2021 Business of the Year reflects our commitment to excellence and community engagement.
With this expansion, we aim to create more employment opportunities, enhance our operational capacity, and diversify our revenue streams. By hosting a myriad of events ranging from intimate gatherings like baby showers and bridal showers to larger celebrations such as rehearsal dinners and corporate functions, we aspire to become a hub for social and cultural gatherings in Longmont. Additionally, our strategic location between 2nd and Main and 5th and Main positions us as a focal point for local commerce and entertainment.
Furthermore, we have meticulously crafted comprehensive projections and pro forma for A florae and our events division, drawing upon our industry expertise and historical financial data. The chosen building, nestled amidst a flurry of new developments and renovations within a three-block radius, presents an unparalleled opportunity to establish ourselves as a premier destination for flowers, retail, and events.
Our current retail revenue ranges between 400-465k annually, complemented by an approximate floral revenue of 450k. With this expansion, we are poised to surpass the million-dollar mark, thereby catalyzing the growth and prosperity of neighboring businesses. As we eagerly anticipate the opening of our new location, we remain steadfast in our commitment to delivering exceptional experiences and fostering enduring connections within the Longmont community.
Our business philosophy revolves around a fundamental principle: diversification of revenue streams. From the outset, we've adhered to this guiding rule, recognizing the importance of not depending solely on one source of income. Instead, we've strategically developed multiple revenue streams within our business, each complementing and reinforcing the others, thereby bolstering our resilience against economic fluctuations.
Presently, our team comprises six individuals, and we are keen on expanding our workforce to a minimum of eight members. Our clientele spans across various demographics: the retail shop caters predominantly to women aged 30-50, our thrift store boasts a loyal customer base primarily consisting of individuals aged 17-25, and our floral studio predominantly serves couples embarking on the journey of marriage, with the average age falling between 25-30. This diversification allows A florae to attract a lot of people as customers.
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