How To Start A Gift Basket Business

How To Start A Gift Basket Business

How To Start a​ Gift Basket Business
The gifting market is​ a​ $253 billion market,​ meaning that almost 1% of​ the​ money spent on​ retail is​ to​ buy a​ gift .​
This is​ great news for the​ gift professionals everywhere .​
With several major gifting holidays,​ and many other gifting occasions throughout the​ year,​ opportunity is​ knocking at​ your door.
But how do you get started?
Here are some basics needed to​ start a​ gift basket business:
First,​ you need to​ do your research:
-who is​ your competition?
-who is​ your target market?
-who are your potential customers?
Write a​ business plan: this will help you put your goals and ideas into a​ clear format,​ and serve as​ a​ place to​ go back and check how you are doing.
Write a​ marketing plan:
-how are you going to​ attract your potential customers?
-will you profit from corporate clients,​ foot traffic,​ or​ a​ combination of​ ways?
Once you’ve done the​ above,​ choose a​ business name,​ get your business license and Tax ID.
Take time when you choose your business name: when you first start,​ you may want to​ have your name included in​ your business name,​ or​ even a​ cute name,​ but later on,​ as​ you get corporate customers,​ you'll realize that your name has a​ great impact on​ how your customers perceive you .​
If your market is​ new moms,​ by all means use some name they can relate to,​ but if​ you plan on​ getting corporate clients,​ give it​ a​ professional name.
Next step would be to​ get insurance for your business: yes,​ it's costly .​
But not having one could be devastating to​ your company's financial future,​ or,​ if​ you are set up as​ a​ Sole Proprietor,​ your family's financial future .​
Business insurance is​ very important,​ and one of​ the​ costs of​ doing business.
You are now ready to​ order your inventory,​ and start your first prototypes.
Next,​ get a​ business phone line .​
And it's important that only you or​ one of​ your trained staff answer the​ phone .​
Many of​ us start in​ our homes,​ to​ be home with our kids,​ and that is​ wonderful .​
But if​ your kids are screaming in​ the​ background,​ don't pick up the​ phone: while another mom could understand your predicament,​ the​ busy assistant of​ a​ large company will probably not want to​ put up with that.
Once your are all set for business,​ you'll want to​ get a​ website,​ so that your clients can order on​ line if​ they choose to​ do so .​
In the​ last few years web design costs came down a​ lot,​ so it's not as​ expensive as​ in​ the​ past.
These are just the​ first few steps to​ get you started .​
Have fun and never stop learning.

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