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Starting_A_Gift_Basket_Business_

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									Starting A Gift Basket Business?

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631

Summary:
So you have a knack for creating wonderful, unique, creative gift baskets
and everyone you know says you should start your own gift basket
business, right? Well whether you do it for love, or to utilize special
talents and skills, starting a gift basket business is a wonderful way to
do what you love and are good at, while making money from it too.

Starting a gift basket business can be done from your home, and there are
a variety of ways to do this. If you plan to grow yo...


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Article Body:
So you have a knack for creating wonderful, unique, creative gift baskets
and everyone you know says you should start your own gift basket
business, right? Well whether you do it for love, or to utilize special
talents and skills, starting a gift basket business is a wonderful way to
do what you love and are good at, while making money from it too.

Starting a gift basket business can be done from your home, and there are
a variety of ways to do this. If you plan to grow your gift basket
business quickly though, you'll want to dedicate at least one small room
to your supplies and to use for a work and business area.

Knowing how you'll sell your gift baskets will help you get things setup
properly though. If you sell your gift baskets online through EBay or
your own website for instance, you'll need to set up a packaging and
shipping area. If however, you plan to simply sell your gift baskets at
local flea markets or craft fairs, you won't need shipping zones but you
might need storage zones instead.

Let's say for instance, you only sell your gift baskets at flea markets
and craft fairs once each month. All the rest of that month is likely
spent designing and putting together your unique gift baskets. So you'll
need a safe, dry, clean place to store them until it's time to take your
business to the markets and fairs.

Another thing to consider when starting your own gift basket business, is
whether you'll create just certain types of gift baskets only. Will you
for instance, only create baby shower gift baskets, wedding baskets, or
graduation baskets? Or will you create all sorts of different gift
baskets for different occasions? A similar decision to make involves
custom gift baskets... will you offer this service to customers who ask
for it?
Setting up your product line and sales methods are very important steps
to starting your gift basket business. Streamlining these things will
help quite a bit too, particularly when things get busy.

If for instance, you create a line of ten different gift baskets to start
with, you can create a list of each item that will go into each of those
gift baskets. You can also decide on one or more decorative color
schemes, and even one or more basket types for each gift basket. Then
when you're ready to get started, you'll have lists of supplies that must
be purchased to create each basket. And if you have enough funding, you
can buy enough supplies to create ten or twenty of each gift basket right
from the start.

When buying supplies for your gift basket business, be sure to keep track
of how much it costs to create each basket. You'll need to know exactly
how much your supplies cost, and also how much time it takes you to
create each basket. This way you can price your products appropriately.

If you offer a gift basket in your business for instance, which costs $20
for supplies, but takes you 30 minutes to put together properly, you
should not base the sales price of that gift basket on the cost of the
items alone. You'll need to work in a set fee for your time, plus profits
as well. So for instance, if your time is valued at $20 per hour, you'd
add $10 for the half hour it took you to create the basket. That's a cost
of $30. You'll then want to add in a profit margin, and that's generally
anywhere from 20%-50% depending on the markets your gift basket business
will cater too.

There are of course many other factors involved in starting your gift
basket business, but these are some general things for you to start with.

								
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