Things You'll Need:
- Gift baskets of varying sizes
- Shrink wrap machine
- Shrink wrap
- Glue gun
- Tissue paper
- Shipping boxes
- Items to put into gift baskets
- Website
- Business cards
- Retail space (optional)
-
Step 1
Determine which customers to target. Research businesses and organizations in your area. Create a niche gift basket line that caters specifically to these types of businesses.
For example, if there are multiple medical buildings and hospitals in your area, consider creating a gift basket line with a "get well soon" theme.
If targeting individuals, consider the median income, status and trends in your area. Create gift baskets that reflect those who live around you. -
Step 2
Write a business plan that includes the cost for materials, marketing, delivery and shipping, and other overhead costs such as retail space, utilities and employee costs.
A business plan should also include how much you want to earn during the year. Many small business owners invest their own money or they take out personal or business loans. You will need to present a business plan to lenders if taking out a loan. -
Step 3
Create a list of standard gift baskets to offer customers. Typical themes include new baby baskets, chocolate lovers baskets, get well soon baskets, good luck baskets and wine lovers baskets.
You can also offer customized gift baskets that include items customers choose themselves. -
Step 4
Create a price list for your gift baskets. When pricing a gift basket, consider the amount for supplies and items as well as the time it takes for you to create the basket.
Customized baskets should be priced when an order is placed since items may be more expensive than those included in standard gift baskets. -
Step 5
Market your business by creating a website that features photos, pricing and order forms. Attend local business networking functions, trade shows or place ads in local newspapers and telephone directories.
Many small businesses rely on word-of-mouth advertising. Don't forget to hand out business cards frequently. Create a mailing list to send customers email updates and information about upcoming specials and other deals.
