1. 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. Read Success Tips for some great ideas.
2. What licenses or permits do I need to get started?
This depends on your city and state. Most require a business license and a seller's permit. Some even require a health permit or an exemption. Check with the business office at your city hall. They will also tell you where to get your seller's permit.
3. Where do I go to learn about the gift basket business?
You're there. Here at Gift Basket Business World we have gathered many sources, links, references to all the information you need to learn about this business. Consider taking a class or private consultation.
To learn about running a business successfully, consult the Small Business Administration where you'll find free and low-cost classes in your community, SBA lenders, Women's Business Centers, SCORE counselors, and Small Business Development Centers.
To learn more about the gift basket business, discover classes and seminars offered by Shirley Frazier and invest in additional products, visit www.giftbasketbusiness.com and subscribe to her newsletter at www.giftbasketbusiness.com/newsletter.htm
4. How do I get customers?As a retail store you will need a good location, attractive signage and mailers and ads going out to your community to encourage folks to walk into your store. Once in your store, customers will buy if your products and service meet their needs. As a homebased business you'll have to work hard to make your services known since you don't have the visibility of a retail store. Many homebased gift basket business owners join their chamber or a network of business owners.To learn more about ways to get customers, see Sell-a-brations and get our two-part CDs 99 Sizzling Marketing Ideas to Make More Money, Jan. through June, and 99 More Sizzling Marketing Ideas to Make More Money, July through Dec.
5. Where do I find the products to go in my gift baskets?
You'll find a large number of wholesalers at gift shows and gift marts around the country. See the list of tradeshows. But there are tens of thousands of others who are not in either of these places. You will find them in your community or learn about them from your colleagues. Here at Gift Basket Business World you'll find a bountiful list of sources in my wholesale resource directories and my weekly newsletter.
~An unsolicited testimonial from a subscriber~
Dear Flora,
In your June newsletter, you had an article on attracting and keeping customers by building loyalty among them and giving good customer service. Having just started a gift basket company, and taking my age into account (22), I can only say that I need all the help that I can get. I forget sometimes that the smallest, most cordial ways can go a long way. I appreciate you bringing back the old-fashioned ways into my business.
Sincerely, Pattie Cordova
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- Click here for my CD, How to Find Products in Your State and other Business Success Products that will offer sources and ideas
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