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Making And Selling Gift Baskets For A Home Business

Making And Selling Gift Baskets For A Home Business

Creative individuals looking for a home business idea should consider making and selling gift baskets. Gift baskets might literally be, without the slightest hint of hyperbole, the perfect gift because a basket can be tailored to any individual or business. Any random idea that pops into your head can probably be turned into a gift basket. The more unique the basket the more likely it is to impress its recipient. There are the normal business considerations of inventory management, advertising, business operations, taxes, cash flows and expansion but gift baskets in and of themselves can be a wonderful home based business opportunity.

Baskets as a Business

As with any small home business, make sure you're properly funded and have enough starting capital to cover initial slow sales and cash flow shortfalls. Register your business with the State Corporation Commission and receive all applicable licenses to legally operate out of your home. Use your registration and starting capital to open a business bank account and qualify for a business credit card. Look at various suppliers when establishing a source for your baskets focusing on quality, availability, pricing and variety.

Create an online presence which includes a well-designed e-commerce website allowing customers to choose from a selection of pre-existing ideas. Also create social media accounts so customers will be aware of promotional offers and other specials as they are advertised. Create a thoroughly vetted professionally prepared business plan. Business plans are required when seeking funding from a bank or credit union. They also establish a game plan by analyzing competitive forces, market conditions, legal requirements and growth prospects.

Gift Basket Ideas

When it comes to gift basket ideas the sky really is the limit but there are some standard offerings applicable to most situations. If there's a holiday then you can make a basket for the occasion. These include but are not limited to Christmas, Halloween, Valentine's Day, Thanksgiving, July 4th and of course Easter. Less represented but equally important holidays for gift baskets include Arbor Day, Groundhog Day, Labor Day, Kwanzaa and Cinco de Mayo.

Other standard gift baskets which are non-holiday specific include the ubiquitous get well basket, a baking basket for cooks, wine and coffee baskets,wedding, baby shower, anniversary, birthday, apology and retirement baskets. It is also important to provide customers a simple online form for the creation of custom baskets specifically tailored for an individual or business. Mention that custom baskets are expensive since the included materials are specific to the occasion or person.

Quality Stands Apart

One caveat to making and selling gift baskets for a home-based business is that everyone else has had a similar idea. Gift basket businesses are a dime a dozen and much like fast food restaurants and gas stations, it requires something special to separate the best from the rest. Three important keys to ensure your home basket business is successful are focusing on quality, offering baskets that cannot be purchased anywhere else and developing close relationships with your customers. If consumers wanted low quality moderately priced uninspired baskets, they could go to a big box store. The quality of your product and customer service will affect every aspect of your business from repeat customers to word-of-mouth advertising. It can be both fun and rewarding making and selling gift baskets but being successful will take dedication and hard work.

Image by: sharyn morrow