Gift Basket Business
You get to buy lots of cute, clever gift items; you get to pull those items together in an attractive container and create a charming gift ideas presentation and you get to provide a product that delivers infinite pleasure to the recipient.
the market for gift baskets is still wide open and the sales opportunities are virtually limitless. But this isn’t a game it’s a serious business. It doesn’t require a great deal of startup capital many successful gift basket businesses were started with just a few hundred dollars.
Settling important issues before you open, such as organization type and purpose, will help guide you through the obstacles and challenges that await a new business.
- Conduct extensive research. Focus on investigating gift basket industry trends. Identify potential niche and target markets, such as private clients and corporations. Investigate local and regional gift basket businesses. Take special note of the variety of their offerings, pricing and added services, such as delivery and payment options.
- Prepare a full description of your business. This section should contain information such as a company overview and mission statement. Summarize important aspects of your business by completing an executive summary.
- Complete a market analysis section. Provide a detailed analysis of your marketing ideas and goals. Identify your target market and provide details on plans to reach out to the demographic contained within your target market.
- Prepare a detailed financial analysis. Forecast sales to the best of your ability. This includes how many gift baskets you expect to sell at each price point. Prepare financial statements, including an income statement, cash flow statement and balance sheet.
Types of Customer
Women are more likely to have seen, sent or received gift baskets. Therefore, they’re better able to picture the basket they have in mind for someone even if they don’t actually have one in front of them as they might in a retail store.
Most businesses have long gift lists, plus they buy year-round, not just during the holidays. They regularly recognize employee anniversaries, promotions, retirements and birthdays throughout the year.
Types of gift baskets
- Toiletry baskets
- Gourmet/food baskets
- Wedding and baby shower baskets
- Nut/fruit gift baskets
- Bath product gift baskets
- Candy gift baskets
- Floral baskets
- Customized gifts baskets.
- Introduce our gift baskets brand by sending introductory letters to residence, suppliers and other stakeholders
- Open our gift baskets sales and delivery business with a party so as to capture the attention of residence who are our first targets
- Sponsor relevant community programs
- Engage in road show in targeted communities from time to time to sell our products
- Advertise our products in community based newspapers, local TV and radio stations
- List our business and products on yellow pages ads
- Direct-mail advertising is an excellent tool for gift basket businesses.
- Leverage on the internet to promote our gift baskets sales and delivery brands
- Engage in direct marketing and sales
- Encourage the use of Word of mouth marketing
You can operate for a retail store, a warehouse location, or to work from home. Regardless of your location, you can sell face to face, via mail order or on the internet,
The room required to store inventory and assemble baskets, homebased gift basket businesses will find their growth limited by the available space.
Specialty equipment: – work space fixtures, work tables, crafting tools, shrink wrapper, heat gun, signage and security system (CCTV)
Storage fixtures and hardware: – storage shelves and cabinets
Store equipment/fixtures for retail operations: – special displays, display shelving, cash register, counter, marking guns, floor gondolas, pegboard, hooks, showcases and wall gondolas
Retail supplies: – cash register tape, shopping bags, gift boxes
Office furniture, equipment and supplies: – computer and peripherals, fax, phone system, furniture, business stationary and miscellaneous supplies
Packaging/shipping equipment: –hand truck, high-speed tape dispenser, carton stapler, electronic scale and paper shredder, sealing tape, boxes, mailing labels, cushioned mailers and packing materials
Gift basket supplies: – baskets/containers, packing materials, decorative materials, shrink-wrap and/or cellophane and product/gifts