How much can I expect to make in the gift basket business?
It depends on how much energy and effort you put into the business.
Entrepreneur Magazine reports that $65,700 is the average profit before taxes for gift basket businesses. Most don't show a profit at all during the first years. Any profits often go back into buying more inventory, supplies, equipment, marketing/advertising and attending classes and shows.
Another major factor is whether your business will be full-time or part-time. The majority of gift basket designers begin their businesses while still working on a full-time job. This enables them to begin slowly and avoid the immediate worry of overhead. But it also limits the time they have to devote to their businesses and thereby limiting the profits they can earn.
Gift basket designers who operate full-time gift shops can earn 6 figure and greater incomes. Location, careful management of inventory and vigorous marketing efforts are the deciding factors.
With the advent of the Internet and popularity of online shopping, more and more gift basket designers are able to enjoy satisfactory profits.
Read Success Tips for some great ideas.
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