| So you have a knack for creating wonderful, unique, | | | | Setting up your product line and sales methods are |
| creative gift baskets and everyone you know says | | | | very important steps to starting your gift basket |
| you should start your own gift basket business, | | | | business. Streamlining these things will help quite a bit |
| right? Well whether you do it for love, or to utilize | | | | too, particularly when things get busy. |
| special talents and skills, starting a gift basket | | | | If for instance, you create a line of ten different gift |
| business is a wonderful way to do what you love | | | | baskets to start with, you can create a list of each |
| and are good at, while making money from it too. | | | | item that will go into each of those gift baskets. You |
| Starting a gift basket business can be done from | | | | can also decide on one or more decorative color |
| your home, and there are a variety of ways to do | | | | schemes, and even one or more basket types for |
| this. If you plan to grow your gift basket business | | | | each gift basket. Then when you're ready to get |
| quickly though, you'll want to dedicate at least one | | | | started, you'll have lists of supplies that must be |
| small room to your supplies and to use for a work | | | | purchased to create each basket. And if you have |
| and business area. | | | | enough funding, you can buy enough supplies to |
| Knowing how you'll sell your gift baskets will help you | | | | create ten or twenty of each gift basket right from |
| get things setup properly though. If you sell your gift | | | | the start. |
| baskets online through EBay or your own website for | | | | When buying supplies for your gift basket business, |
| instance, you'll need to set up a packaging and | | | | be sure to keep track of how much it costs to |
| shipping area. If however, you plan to simply sell your | | | | create each basket. You'll need to know exactly how |
| gift baskets at local flea markets or craft fairs, you | | | | much your supplies cost, and also how much time it |
| won't need shipping zones but you might need | | | | takes you to create each basket. This way you can |
| storage zones instead. | | | | price your products appropriately. |
| Let's say for instance, you only sell your gift baskets | | | | If you offer a gift basket in your business for |
| at flea markets and craft fairs once each month. All | | | | instance, which costs $20 for supplies, but takes you |
| the rest of that month is likely spent designing and | | | | 30 minutes to put together properly, you should not |
| putting together your unique gift baskets. So you'll | | | | base the sales price of that gift basket on the cost |
| need a safe, dry, clean place to store them until it's | | | | of the items alone. You'll need to work in a set fee |
| time to take your business to the markets and fairs. | | | | for your time, plus profits as well. So for instance, if |
| Another thing to consider when starting your own | | | | your time is valued at $20 per hour, you'd add $10 |
| gift basket business, is whether you'll create just | | | | for the half hour it took you to create the basket. |
| certain types of gift baskets only. Will you for | | | | That's a cost of $30. You'll then want to add in a |
| instance, only create baby shower gift baskets, | | | | profit margin, and that's generally anywhere from |
| wedding baskets, or graduation baskets? Or will you | | | | 20%-50% depending on the markets your gift |
| create all sorts of different gift baskets for different | | | | basket business will cater too. |
| occasions? A similar decision to make involves custom | | | | There are of course many other factors involved in |
| gift baskets... will you offer this service to customers | | | | starting your gift basket business, but these are |
| who ask for it? | | | | some general things for you to start with. |