Learn how Flowers For Dreams uses Mayfair’s platform to support its business, employees, and community—and takes advantage of high liquidity at the same time.
HOURS SAVED EVERY YEAR ON CASH MANAGEMENT
INTEREST EXPECTED DURING THE FIRST YEAR
% OF CASH WITH MAYFAIR
Flowers For Dreams offers flowers for weddings, corporate events, and home delivery across the Midwest. Each artisan bouquet is handmade with stems sourced daily from local wholesalers and farms. Giving back is the heart of Flowers For Dreams’ business: through its nonprofit foundation, the brand gives 25% of profits, or 2.5% of gross sales, to local charities. That’s $1.3 million donated so far.
When it comes to cash management, Flowers For Dreams faces a considerable challenge. Compared to other small businesses, florists need more cash on hand. Plus, as a growing company with a charitable mandate, cash plays a strategic role.
Flowers For Dreams can’t lock away funds in a savings account just to get a better interest rate—the amount of operating cash they need fluctuates, requiring on-demand access. Plus, given current market conditions, the team has to maximize the value of every dollar. It’s not just about extending runway; more money in the bank means getting funds to the causes they champion faster.
Flowers For Dreams had recently outgrown their local, single-branch business bank and signed on with a larger local partner. So, when the team discovered Mayfair’s platform, the availability of leading interest rates and additional insurance coverage made it an ideal addition to the company’s operations.
“We needed to find the highest yield interest account, yet be able to access that money quickly whenever needed. We were on board immediately when we learned that Mayfair offers both those capabilities.”
Since liquidity is key to Flowers For Dreams’ operations, the team wanted to ensure transferring funds would be seamless. They opened a Mayfair account with a smaller balance, testing what it was like to move money in and out. “It worked smoothly right away,” reports Wasserman.
Today, her team loves how Mayfair enables hands-off strategic cash management—almost putting their treasury function on autopilot. Wasserman set parameters once, namely the minimum required balance in Flowers For Dreams’ operating account. Now, Mayfair automatically checks and rebalances accounts daily to maintain that minimum.
This helps the business maximize FDIC coverage1 through the Enhanced Deposit Protection Program available to customers of Mayfair and provided by Third Coast Bank and its network of participating banks. It also helps them earn as much interest as possible—all while keeping a comfortable balance for short-term expenses.
When Wasserman logs on to Mayfair, she enjoys a streamlined, intuitive dashboard that’s more user-friendly than many alternatives she has tried. At a glance, Mayfair gives Wasserman a digestible, well-rounded overview of the company’s cash with three key metrics:
“Mayfair is intuitive and modern. You don’t need to dig around for data or pull different reports and statements. It's a clean, easy dashboard, and we never miss a day of our exceptional interest rate.”