If you have been looking for a business of your own to start, you may have considered gift baskets. Gift baskets are very popular, and this time of year they are even more popular as the holidays approach. While anyone can buy a regular present, there is something about a gift basket that makes many people think so much more thought was put into the present.
If you are creative and have a great feel for what people want, this may be a great way to make money for you.
What Gift Baskets to Sell
There are a number of styles of gift baskets you can sell. Some of the popular themes include:
Gourmet food items
Spa and Bath Gif Baskets
House Warming Gifts
Romantic Fun Baskets
Wedding or Anniversary Baskets
You can choose just one or two of these categories when beginning your gift basket business or decide that you would like to have a few in each category to try and capture a larger audience.
Which selling strategy you are going for will depend on who you expect to be your customer base. Consider where and how you will be selling your baskets and what types of people will likely be there to make purchases. This will help you come up with a good idea of which baskets will do the best.
Making Gift Baskets
Once you are ready to get going in your gift basket making business, you can either do a trial run or jump in with both feet.
If you want to do a trial run, you should purchase the items to make a couple of baskets and come up with a couple of creations. Show these to people you know so they can let you know what they think and what they would pay for them.
Once you are ready to really get to work, you should not be paying retail for any of the items related to your business. You need to take advantage of wholesale buying. Wholesale buying is where you go directly to the manufacturer or distributor of the items you are trying to sell and purchase the items in bulk at wholesale cost (usually 50% or more below retail).
In addition to getting the items you want to put in your baskets at wholesale prices, you should also make sure to get all your decorative items such as the baskets, wrapping paper, ribbons, etc at wholesale prices as well.
Setting a Price
Once you have put your baskets together, you need to set a price. Add up the cost of all the items involved in the basket (including the wrapping items) and add on the cost of your labor. Double this total and you have a pretty good starting price for your baskets.