Starting A Gift Basket Business

starting a gift basket businessThinking of starting a gift basket business? Uncover what it really
takes for your gift basket business start up to succeed.

Why Gift Basket Businesses Are Thriving

One of the surprisingly fastest growing types of businesses is a gift basket business.

If you are looking to start a gift basket business, then you are in good company. Many people are pursue the gift basket industry because it is a business that is easy to start, and can berun it from home.

Probably one of the most enticing features of the gift basket business is the fact that you can do it for very little money.

The past several years has shown a rather explosive growth in popularity due to the increased number of home based businesses and independent shops that are marketing to the corporate market.

When You Start A Gift Basket Business - Give Your Business An Edge By Thinking Broadly

When you think of starting a gift basket business, think broadly - gift baskets are given/used in a number of ways.

Starting A Gift Basket Business - The Start Up Process

The first thing you are going to need to do is make a few decisions, for example what types of baskets will you offer?

Are you going to work out of you of your home or will you rent a retail space?

If you are working out of your home make sure that you have the space that will be needed to store your materials and space to assemble your baskets.

After Deciding The Types Of Gift Baskets You Will Offer, Think About Who Your Customers Will Be

Then you will need to decide how to market your business and who will be your target market?

Starting A Gift Basket Business - The Next Steps

You should create a name that best represents the image that you are trying to promote.

Starting A Gift Basket Business - Determining How Much Money You Can Make

Starting a gift basket business isn't complicated. However you have to understand that your income will be direct reflection of how hard you work.

Not only how hard you work but how well you package your products.

Consider The Estimates From The Industry Insiders

Most people that only work their gift basket business part time make about $10,000 per year and those that operate a retail store or mail order business full time have made a $1 million and up.

The sky is the limit when it comes to how much you can make.

The Gift Basket Review magazine did a survey and off the 72% of the people that responded they reported their gross sales of at least $50K and 27% reported their sales had reached $200K or more.

Starting A Gift Basket Business - Determining What Basket You Will Sell

When you think through what type of gift baskets to sell, think about it in terms of the 'delight' principle.

When Starting Your Gift Basket Business, Always Remember That Today's Gift Basket Business Is Not The Same As The Gift Basket Business From Days Gone By

It's a very competitive place out there where the most creative/customer-focused gift basket businesses win.

Starting A Gift Basket Business - What You Can Offer

The possible types of baskets are as endless as your imagination.

You can offer your clients a wide range of gift baskets or you can focus on a smaller segment. Here are a few different types of baskets that people offer:

Starting A Gift Basket Business - Managing Inventory for your Gift Basket Business

Also, Strive To Not OverBuy - It's Too Easy To Accumulate Too Much Of Something And Then Face The Need To Have To Store It Somewhere

Your inventory should only grow as your sale increases, though you want to make sure you have the basics to get started.

Starting A Gift Basket Business - Marketing Your Gift Basket Business

Two of the most effective techniques are word of mouth and happy customers.

Take the time to make sure you demonstrate true craftsmanship in creating your products, that you use quality items in your baskets and that you deliver them on time.

You can also advertise in the Yellow Pages and newspapers and online advertising markets such as Facebook.

Starting A Gift Basket Business - Figuring Out How Much to Charge

You don't want to price your baskets to low so that you aren't making money, but you don't want to set the prices so high that you lose customers.

You should consider the type of basket, the more specialized the basket the higher the cost can be...conversely the more generic a basket the more reasonably priced the basket should be.

Taking a look at what one leading business magazine has to say, you should net 15-30% of your gross revenue and this is accomplished by doing a 100% mark up of the items in the basket.

You also need to think about the time it took you to create the basket, the materials, the cost of the items, a small percentage of your overhead costs and any other costs that you incurred to make that basket.

Starting A Gift Basket Business - The Bottom-Line

Starting a gift basket business is a great small business idea.
The key to starting a successful gift basket business lies in really thinking through what you will offer and who, specifically, your business will serve.

The most successful gift basket business owners are those who take the time to really listen to their customer-base, and then put together a gift basket that will knock their socks off.

Starting a gift basket business gives you the opportunity to truly win the hearts (and pocketbooks) of those people who want to give a gift that makes the recipient smile.

Here's To Your Success With Finding Small Business Ideas That Fit Your Passion!

P.S. Here's A Few More Tips To Make Your Search For A Small Business A Success...

 

3 Crucial Gift Basket Home Based Business Start-Up Tips

 
 

Tip From A Pro - Business Marketing Gift Basket Advice

 
 

The Key To A Successful Start In Your Gift Basket Business - Know How To Shop

 

Tips From The Trenches - Share/Read Gift Basket Business Tips Here

  • Have you tried - successfully (or unsuccessfully) - to start a gift basket of your own?

  • Or...do you have any words of advice for those entrepreneurs who are looking get a gift basket business off the ground?

Enter The Title Of Your Gift Basket Business Story/Advice

Read What Other Visitors Have Said

  • Click on the links to read what others have said about what it REALLY takes to start a successful (and profitable) gift basket business.

  • They were all written by other visitors to this page.


If You Have A Hand For Baking, Then Consider Starting A Gift Basket Business That Specializes In Baked Goods  
My Idea Of Starting A Gift Basket Business Came As A Result Of Divorce My idea to invest in a small business began after a rough divorce where I soon …...

If You Are Looking To Start A Gift Basket Business, Make Sure You Proactively Plan Your Pricing Policies Upfront 
Though I Was Happy To Start A Gift Basket Business Of My Own, I Regret Not Dealing With Pricing Issues Up Front Learning how to price my baskets was …...

What I've Learned About Starting A Gift Basket Business During My 8 Year Journey 

My Starting A Gift Basket Story Began 8 Years Ago Eight years ago I went into the Gift Basket business out of a need and a want I guess.

I had …...

My Gift Basket Business Start Up Story - How Being Creative Has Won Me Customers 
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 …...

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