My Gift Basket Business Start Up Story - How Being Creative Has Won Me Customers
My gift basket business start up advice is simple. Be creative by starting a gift basket business that will make the recipients of your gift baskets feel truly special!
My Gift Basket Business Start-Up Story
It's only been a year since I've been in the gift basket business.
Finding inventory was actually simple - I had an idea of what I wanted and originally searched for the best item, at the best price.
So, to find items for my gift basket business start-up, I mainly looked online.
If You Are Looking Online For Your Gift Basket Business Start-Up Item, Be Careful
When looking for items for my gift basket business on the internet, I quickly realized that I needed to be a very cautious shopper.
One lesson I quickly learned was that when you're shopping online you don't always get the quality of items you thought you'd get.
Also, if you're looking for cheaper items, you never want to go with the cheapest - You will be disappointed.
One Key Challenge I Ran Into When I Started My Gift Basket Start-Up Business Was In Managing My Inventory
Keeping inventory can get difficult, depending on the amount you have.
- I have the items based on type in sections, with lists of their pricing and numbers.
- The lists can get long, but I will cross these off as they are gone.
I also keep track of everything in a computer - this helps keep track on the money spent. Currently, I use Excel for tracking. I do this per week, in a folder for each month.
One Key Thing That Has Made My Gift Basket Business Start Up A Success Is In Offering Seasonal Gift Baskets
I do a lot of business by making seasonal gift baskets.
- This gives me and my clients variety.
- It also gives me a chance to keep my clients coming back because I always have something new to offer.
I Also Get A Lot Of My Business By Making Customized Baskets As Well
I know some gift basket business start-ups who do not accept requests.
But, I've found that a lot of my customers want the option of being able to customize their gift basket.
If I do a customized basket for a client, I make sure I ask my client plenty of questions.
For example, If I am making a gift basket for a wedding, then I ask detailed questions about what their theme is, what colors they like, and what special things they want to remember about their wedding day.
I will also set up the basket according to their answers and price range. I also like catering to wedding parties as well - if my wedding clients tell me they want multiple gift baskets for the wedding that are the same, I make sure to buy enough items for each basket.
When Starting A Gift Basket Business, Make Sure That Each Basket Is Unique
One thing that I've come to learn is that each basket should be unique! Just one unique item can make the whole basket that much better.
I do actually do my own unique baskets - just recently I did one that was steam-punk related - It was sold right away! It was a unique idea, and it turned out how I wanted it.
If it happens that my item does not sell I will scrap the idea and use the items in a different basket.
Oh, And One Last Piece Of Advice About The Role Of Pricing In Your Gift Basket Start-Up Business
As for pricing on the baskets, my recommendation is that you write down the price of each item in the basket, and then compare the pricing with competitors.
It's crucial to understand what your competitors are doing, and how they are offering their product.
Starting A Gift Basket Business - The Bottom-Line
I've thoroughly enjoyed starting my own gift basket business.
I enjoy the creative aspects of the business.
But,as time passed, the better I got at running a profitable gift basket business.
The more familiar I became with the rules of inventory and pricing, the better I was able to run my business.
My advice is to anyone looking to start a gift basket business is to go for it! Be creative, but be strategic with how you price and what you offer.
Also, take the time to make sure that each of your baskets offer at least one thing in them that makes them unique and makes them stand out in the competition.
Best Of Luck With Your Endeavor To Start A Gift Basket Business
I really hope this was some helpful information - mainly, be creative and give your customers something that really makes them feel special!