Starting A Gift Basket Business

Starting A Gift Basket Business

So you have a​ knack for creating wonderful,​ unique,​ creative gift baskets and everyone you know says you should start your own gift basket business,​ right? Well whether you do it​ for love,​ or​ to​ utilize special talents and skills,​ starting a​ gift basket business is​ a​ wonderful way to​ do what you love and are good at,​ while making money from it​ too.

Starting a​ gift basket business can be done from your home,​ and there are a​ variety of​ ways to​ do this. if​ you plan to​ grow your gift basket business quickly though,​ you'll want to​ dedicate at​ least one small room to​ your supplies and to​ use for a​ work and business area.

Knowing how you'll sell your gift baskets will help you get things setup properly though. if​ you sell your gift baskets online through EBay or​ your own website for instance,​ you'll need to​ set up a​ packaging and shipping area. if​ however,​ you plan to​ simply sell your gift baskets at​ local flea markets or​ craft fairs,​ you won't need shipping zones but you might need storage zones instead.

Let's say for instance,​ you only sell your gift baskets at​ flea markets and craft fairs once each month. All the​ rest of​ that month is​ likely spent designing and putting together your unique gift baskets. So you'll need a​ safe,​ dry,​ clean place to​ store them until it's time to​ take your business to​ the​ markets and fairs.

Another thing to​ consider when starting your own gift basket business,​ is​ whether you'll create just certain types of​ gift baskets only. Will you for instance,​ only create baby shower gift baskets,​ wedding baskets,​ or​ graduation baskets? or​ will you create all sorts of​ different gift baskets for different occasions? a​ similar decision to​ make involves custom gift baskets... will you offer this service to​ customers who ask for it?

Setting up your product line and sales methods are very important steps to​ starting your gift basket business. Streamlining these things will help quite a​ bit too,​ particularly when things get busy.

If for instance,​ you create a​ line of​ ten different gift baskets to​ start with,​ you can create a​ list of​ each item that will go into each of​ those gift baskets. You can also decide on​ one or​ more decorative color schemes,​ and even one or​ more basket types for each gift basket. Then when you're ready to​ get started,​ you'll have lists of​ supplies that must be purchased to​ create each basket. And if​ you have enough funding,​ you can buy enough supplies to​ create ten or​ twenty of​ each gift basket right from the​ start.

When buying supplies for your gift basket business,​ be sure to​ keep track of​ how much it​ costs to​ create each basket. You'll need to​ know exactly how much your supplies cost,​ and also how much time it​ takes you to​ create each basket. This way you can price your products appropriately.

If you offer a​ gift basket in​ your business for instance,​ which costs $20 for supplies,​ but takes you 30 minutes to​ put together properly,​ you should not base the​ sales price of​ that gift basket on​ the​ cost of​ the​ items alone. You'll need to​ work in​ a​ set fee for your time,​ plus profits as​ well. So for instance,​ if​ your time is​ valued at​ $20 per hour,​ you'd add $10 for the​ half hour it​ took you to​ create the​ basket. That's a​ cost of​ $30. You'll then want to​ add in​ a​ profit margin,​ and that's generally anywhere from 20%-50% depending on​ the​ markets your gift basket business will cater too.

There are of​ course many other factors involved in​ starting your gift basket business,​ but these are some general things for you to​ start with.

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