How to Begin a Gift Basket Business
June 14, 2010 | In: Career, Crafts and Hobbies
One good business to start which you can do right in your own home is creating gift baskets.
To start, try to decide what your target market is. It would be wise to be specific. Do you plan to make gift baskets for the corporate market for seminars, workshops, and other company events? Or do you plan to focus on special occassions market?
Research first on what other gift basket businesses offer and what price. Make sure that you give value for money without hurting profit. Write down your ideas for the different gift baskets you will be offering. For example, you may opt to have 3 choices for Get Well Soon gift baskets – one composed of food, one composed of beauty and bath products, and one composed of other items. For each choice, you can have 3 sizes as well. Just be creative.
Find suppliers for the individual products, the baskets, and other materials you’ll need. Create a system so that will enable you to keep track of inventory, and your inflows and outflows. You can do it the paper way, or for more efficience, use computer database software.
Decide how you want to advertise your products. If you’re web savvy, it might be more efficient if you use a website (free or otherwise) that will not only advertise your products, but will provide a system for ordering products as well. This is also less costly than advertising using flyers and placing ads on local newspapers.
With this regard, make sure you have samples of your gift baskets ready. Take lovely pictures. Write inviting descriptions. Itemize the items in each gift basket so customers know what they’re getting. Don’t forget to fix a price for each product.
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