Gift Basket Business

Getting the right gift for someone you don’t really know can be a real time waster and shopping nightmare. A gift basket is a beautifully packaged assortment of goodies that are perfect for such an occasion. Their recent rise in popularity has meant that every one and their mom are considering getting into this business. If you’re a savvy retailer and ruthless marketer you might be able to carve out a niche in this highly competitive industry.

Before The Start-Up – Let’s Not Get Ahead Of Ourselves

Intense competition means that business experience is essential. Specific experience in marketing and retail sales will go along way to achieving success. This market has endless online potential so experience in the online retail sector is also very helpful.

The Start-Up

Your start-up depends on your business setup. You can either choose to run your service from a store front and rely on a combination of walk through business and catalogue business. Alternatively you can run your service exclusively through an e-commerce website. You’re likely to have the most success starting your business at home and building it up as you get busier. You’ll need a work space, desk, computer with a high speed internet connection, printer and business stationary including business cards, a letterhead and invoice template.

To gift wrap baskets you’ll need a shrink wrap machine, and a bulk supply of baskets and gift materials. It’s important that you have enough storage and sorting space set aside at your house. Consider converting a part of your garage to fill this function.

An e commerce website is the natural domain of this service, if you plan on running your business as an online store we recommend you The Work Pad’s complete article on being an online retailer.

Making It Work

Your greatest success will most likely be in a niche market. Offer an assortment of baskets in a wide price range. Ideas for niche markets include gifts native to your area, gifts aimed at corporate clients or gifts aimed at a certain age group.

Marketing

The most cost effective way to market your business is to run a pay per click campaign to your website using Google’s Adwords or Yahoo’s Overture. Other possible forms of marketing include banner ads on related sites and a spot in the Yellow Pages.

Don’t Forget

Your success partly rests with your ability to put together a perfect combination of gifts. Do research on what other companies put in their baskets and get creative when purchasing for your chosen niche. Doing research on your niche’s gift preferences is essential.