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How to Start a Gift Basket Business Using These Resources

November 15, 2020 338 views

All the Information You Need to Start a Gift Basket Business Brought to You by Various Authors

Resources to follow after the introduction

Background About This Type of Business

By providing tasteful gift baskets, you’re providing a great gift for many occasions. Many times finding the right gift is difficult. Gift baskets are gifts that can be unique for the occasion.

Customers will choose a gift basket that is themed for the occasion. Some examples include; retirement, a promotion, a holiday gift, showers, get well, house warming, etc. In addition to your standard baskets, adding customized baskets will allow you to expand your target market and revenue.

This business type can have a low startup cost. You can run it from home and work your own hours. It also works well as a part-time business and makes a good business opportunity for students with a creative flair.

About This Post

This post contains an impressive amount of resources written by various authors. You’ll have the information you need to make good decisions during the startup phase and while running your business by having multiple viewpoints. Before you get to the resources section further down the page, let’s go over a few considerations about starting a gift basket business.

What Type of Person is Suited for a Gift Basket Business?

Anyone with a creative flair likes working with their hands, and has an entrepreneurial spirit; with the ability to market their gift baskets, can do well with this type of business.

Is This What You Want to Do?

Is this the type of business you want to start and operate? For any business owner to succeed, you need a key ingredient, and that ingredient is being passionate about what you’re doing. When you’re passionate about the business you’re running, you’ll look for a solution instead of a way out when problems occur. Passion is the fuel that makes you want to keep going no matter what. Passion ensures you have given it your best.

Do you Have The Necessary Skills?

Do you have the skills to run a business and to make attractive gift baskets? If you don’t have the skills, the good news is you can learn them. Also, depending on how large your business operation will be, you can hire people to perform any of the required jobs, but the larger your staff, the higher your cost, and the more sales you’ll need to cover those expenses.

Key Issues to Focus on With This Type of Business

Competition

You’ll want to look into the competition in the area where you are planning to start.

If there is a lot of competition, it will be challenging to get a market slice. You’ll have to make your gift baskets more attractive than what’s available on the market. You could compete on price, but keep in mind, that could start a price war. With price wars, the profit drops to the point where no one makes any money, and as a newcomer, you may not have the funds to keep competing on price.

If there is no competition in the area, you may have hit the jackpot, or it could be there is not enough demand for gift baskets in the area. In that case, it’s no use providing a product in an area where there is no demand; you may have to locate in another area or, in this case, take your business strictly online.

Can You afford It?

Can you afford to start your own business? With this type of business, the startup cost can be low if operating from home. You only need funds for registration, supplies, and marketing.

If you’re running this as a part-time business, then it’s something you can set up without a lot of pressure.

On the other hand, if you plan to start full time, you need to factor in the money you need to pay yourself. In the early stages of a new business, revenue is low, and your main concern is to have enough money to keep the doors open until your business grows and becomes self-sustaining.

Startup Cost

The startup cost for a gift basket business can be fairly low, but keep in mind no one can tell you how much your startup cost will be without your intentions for how big of a business you are planning to start. If you’re starting from home and doing everything yourself, you could start with a few hundred dollars. If you’re planning to mass-produce your gift baskets and supply the wholesale market, you could need thousands of dollars. Even opening a storefront will require a substantial startup budget.

Before considering your startup cost, you need to define your business plan. For more on startup costs, see, Estimating Startup Costs – Are You Missing Anything?

What type of Baskets Will You Create

In addition to marketing your gift baskets, you need to create appealing and creative ones. Have you considered if you will have premade gift baskets or create baskets on demand? I would suggest having both; you could have ready-to-go bakest for those in a hurry and allow people to order their own.

The key to success at this type of business is creating attractive looking gift baskets at affordable prices. There are thousands of ideas for creating gift baskets. You can add anything appropriate. It doesn’t just have to be food-based. You can let your imagination go wild. You can add items that are appropriate for a kitchen if the occasion is housewarming. For someone that just got a promotion, you can add items for a desk or anything used in their new job. For a get-well, add items the recipient would like; for example, you could add a video game for a teenager who likes video games. The ideas are endless.

You can come up with a series of questions beforehand to ask your customer, so you can come up with the perfect gift basket tailored towards the recipient.

How Will You Price Your Gift Baskets?

Your price will play an important role in sales if you price too high and you’ll lose sales. Price too low, and your baskets may be perceived as a cheap gift. You need to get the pricing right so that perception and value are high. To figure out how to price your gift baskets, see How To Set Prices To Improve Sales, Revenue, and Profits.

Getting the Word Out and Getting Customers

How will you get the word out about your new business?

You can look at free advertising ideas, advertise online using Facebook ads, Google ads, etc. You can take out an ad in the local paper or on the radio.

One of your main sources of advertising is the basket. Be sure to attach your business name and contact information tastefully. So when other’s see it, your gift basket becomes a conversation piece.

You can monitor local events and donate gift baskets where it will get you some exposure. This works well when raffles occur.

You could also send your local morning show radio host a gift basket with a special message hoping to get a plug for your business. The key here is to be authentic, writing something like thanks for keeping us company during our mornings. You keep us entertained and updated with what’s going on in the world. You might get a plug on the radio, get a photo of your basket on their website or Facebook page. Or you may get nothing, but it’s worth a try!

Keep in mind any gift basket you use to promote your business is a tax write off because it’s advertising. It’s important to keep track of the cost of each gift basket you use to promote your business.

A Collection of Resources Related to Starting  Gift Basket Business

Now to the resources. You’ll find the “how-to” information in detail from the sections below.

You’ll gain knowledge from the experience of others. It’s to your advantage to read through many of the resources to gain a broad understanding of this industry.

How to Start a Gift Basket Business

How to Start a Gift Basket Business: Step-by-Step Guide

8 steps for creating a gift basket business from home – Mompreneur Advice

How to Start a Gift Basket Business

How to Start Your Own Gift Basket Business at Home | Small Business – Chron.com

How to Start a Home-based Gift Basket Business – Todays Work At Home Mom

How to Start a Gift Basket Business | HowStuffWorks

Start a Gift Basket Business – Learn, Grow, Profit – Gift Basket Business

What to Consider Before You Start

Reasons for Getting Into Your Own Business

The Pros and Cons of Owning Your Own Business

10 Questions You Must Ask Before Starting a Business

Passion – An Important Key You Need to Succeed in Business

Steps and Considerations

Over 21 Steps and Considerations When Starting Your Business

Getting Inside Information

An Inside Look Into The Business You’re Considering

A Simple Guide To Starting A Business

How to Start A Business – Making a Complex Topic Simple

How to Finance Your Business

Everything You Need To Know About Business Loans

How To Register a Business

How to Register Your Business Using These Resources

Do You Need a Business License to Sell Gift Baskets | ProfitableVenture

Gift Basket Business Name Ideas

Selecting a Good Name for Your Business

Gift Basket Business Name Generator – How to Name a Gift Basket Business

466+ Best Gift Basket Company Name ideas | Small Business Blog

200+ Cutest Gift Basket Business Names for You

Business Plan

How to Write a Business Plan Using This Unique Collection of Resources

How to Write a Marketing Plan Using These Select Resources

Start a Gift Basket Business

Gift Basket Sample Marketing Plan – Executive Summary – Mplans

Trends and Statistics

Gift Basket Business – Gift Basket Statistics

30 Captivating Gift Basket Industry Trends – BrandonGaille.com

Packaged Facts: $18 Billion Food Gifting Market on the Rise

Profitability and Revenue

Estimating the Profitability and Revenue for a New Business

How much can I expect to make in the gift basket business?

Is the gift basket business profitable? – Gift Basket Business

Startup and Operating Costs

Estimating Startup Costs – Are You Missing Anything?

Business Startup Costs – GiftBasketHelp : GiftBasketHelp

Equipment

Essential Office Equipment You May Need to Run Your Business

8 Tools for Every Gift Basket Designer – Gift Basket Business

Supplies

Wholesale Baskets and Gift Basket Supplies

Wholesale Packaging Supplies and Products | Paper Mart

Gift Basket Supplies Wholesale – Market Trays, Colored & Clear Basket Bags | The Box Depot

Amazon.com: Gift basket supplies

Insurance

Here’s Everything You Need To Know About Business Insurance

Insurance for Your Gift Basket Business – Gift Basket Business

Insurance Solutions For The Gift Basket Industry – Gessel & Associates

Crafter and Artisan Business Insurance Quotes | Insureon

Employee Considerations

The Pros and Cons of Running a One-Person Business

How and When to Hire a New Employee

Common Jobs Needed for Running a Business

Hiring an Employee VS Subcontracting

Business Cards

How to Design Business Cards That Draw Attention

Business cards

Latest Image Search Results Related to Gift Basket Business cards

Logo

How to Create an Impressive Logo

Gift basket business logo | Logo design contest | 99designs

Logo for gift Basket Company | 83 Logo Designs for Basket Hub – Personal & Corporate Gifting

Free Gift Logo Designs – DIY Gift Logo Maker – Designmantic.com

Latest Image Search Results Related to Gift Basket Business Logos

Software

Best Gift Shop Software – 2020 Reviews, Pricing & Demos

BaskWare | Distribution Software | 2020 Reviews, Pricing, Demos

Business For Sale

Buy A Business or Build one From Scratch?

An Inside Look Into The Business You’re Considering

Gift Shop Businesses for Sale BusinessBrokernet

Gift Basket Companies Businesses For Sale – VestedBB.com

Latest Search Results Related to Gift Basket Business For Sale

Franchise Opportunities

The Ins and Outs of Owning A Franchise

Start a Build A Basket Franchise, 2020 Costs & Fees

Candy Bouquet Franchise Business Gift Basket Franchising Opportunity

Edible Arrangements Gift Basket Franchise for Sale on BizQuest

Established Gift Basket Business

The 12 Best Food Gift Baskets of 2020

17 Places To Order The Best Gift Baskets Online

The 15 Best Gift Baskets of 2020

Marketing Tips

How to Promote a Gift Basket Business | Small Business – Chron.com

How to Market Your Gift Baskets – Gift Basket Business

100 Business Marketing Ideas – GiftBasketHelp : GiftBasketHelp

How to Promote a Gift Basket Business | Your Business

Article Mix

HOW TO: Themes & Tips for Building a Great Gift Basket – Celebrate Every Day With Me

Instruction for Making Gift Baskets Like a Pro

Five Tips to Start Making Gift Baskets – Gift Basket Business

Tips For Making Gift Baskets | Miss Kopy Kat

12 No-fail tips for putting together amazing gift baskets (+150 basket theme ideas) –

Easy gift basket ideas: Including tips on how to make a gift basket | Top Ten Reviews

Corporate Gifts & Gift Baskets for Clients, Customers & Employees

Corporate Gift Baskets | Unique Gifts for Clients & Employees

104 Unique Gift Baskets That Don’t Suck – Dodo Burd

Corporate Unique Gift Baskets & Gifts

Six Big Problems Selling Corporate Gift Baskets – Gift Basket Business

Gift Basket Business – Industry Problems, Mistakes, Issues

Beginning Business Mistakes – Gift Basket Network

Running a Business

How to Run a Business – A Quick Look Into Skills You’ll Need

Publications

7 Helpful Gift and Gourmet Publications – Gift Basket Business

Gift Trade Magazines – GiftBasketHelp : GiftBasketHelp

Magazine – Gift Basket Network

Lisa Paden’s Gifting Blog — The Personal Gift Basket Co.

Anything In A Blog | All About Gift Baskets

Top 80 Gift Websites And Blogs To Follow in 2020

The Gift Basket Pros Blog | Exploring the world of gift-giving.

Gift Baskets, Christmas, Holidays and All Occasions Send Gift Baskets They’ll Love

Cielo Gift Baskets – Blog

LEIGH’S LOVELY GIFT BASKETS – Leigh’s Lovely Gift Blogs

Books

Books from Amazon Related to Starting a Gift Basket Business

Google Book Search Related to Starting a Gift Basket Business

The Latest about Starting a Gift Basket Business

Google Searches

Latest Search Results Related to Starting a Gift Basket Business

Latest Scholar Search Results Related to Starting a Gift Basket Business

Latest Image Search Results Related to Starting a Gift Basket Business

News

Latest News Related to Starting a Gift Basket Business

Twitter

Tweets Related to Starting a Gift Basket Business

YouTube

Videos Related to Starting a Gift Basket Business