Many of us dream of working from home, spending more quality time with our families. I decided to do just that. Yes I was afraid of failing, not being able to handle the pressures of running a business, and looking after my family at the same time. So I began my search for the right business to start, GIFT BASKETS! I use to give them for gifts to family members, so I thought why not make money while doing something I loved.
Start Up
As with any new business, you will have to make a number of decisions.
What types of baskets will you offer?
If you are working from home do you have enough space for creating your baskets?
What is your target market?
And most of all how will you reach them?
If you plan to start on a shoestring budget, start slow and work from home. Running your business from home will allow you to save on overhead expenses.
Income Potential
Your income potential depends on how hard you work and market your business. Industry insiders estimate potential revenues to range from $10,000 annually working part time from home.
Your Gift Baskets
You can either offer a wide selection of gift baskets, or focus on a smaller market. Some of the common gift baskets being offered include the following:
Gourmet/Food Gift Baskets. These are the most popular gift baskets businesses give to their clients, friends and family.
Bath And Body Gift Baskets. These are very popular! Ingredients of these baskets include toiletries like scented soaps, fragrances, olis, lotions, and aromatherapy products. These are just a few selections of gift baskets offered, the list goes on.
Inventory
You inventory level should alway grow as your sales grow. Start small, keeping inventory at a relistic level. You can purchase inventory for your gift baskets either wholesale or retail. I would advise buying at wholesale price, because you may buy in quantities.
About The Author: About the author: La Tunya Sifford is a Work At Home Mom with two children, ages 13, and 18 months. She has a online gift basket business, where she enjoys creating beautiful gift baskets for personal and corporate gift giving. Visit her online at: http://www.fullmoongiftbaskets.com
Hi A1Amom, It really depends on what state you are in. Search for Business license and the state you are in (I'm assuming you are in the U.S.) Quite often state websites have a lot of information on what you need to start a business in your state. If you are in a city, you may also need a city license. To find your state, go to: http://www.sba.gov/hotlist/license.html
Each state is different but usually to start a business and register a trade name is fairly reasonable. You will need to choose a name for your business and check to see if that name is already being used. A1Amom's Baskets for example. Search the internet for that business name to make sure no one else is using it. Also look in the phone book in your area. Normally your state will not allow you to use a business name of one already registered but you also don't want to choose one of a famous company, even if you wouldn't be in competition with them.
Then you will need to get a business bank account. This isn't absolutely necessary right off but it helps keep your finances straight. It's helpful if you can also set aside a separate room or area of your house for making the baskets and keeping your supplies. That way you can write off expenses for your home business. Later on if you have enough success you can get your own shop but many choose to work at home and take the deductions.
Once you have all that established, plan a few basic baskets and what you would charge for them. With a business license, you will be able to buy supplies wholesale. There are really several ways to go with this, you could find baskets at thrifty shops and paint and refurbish them making each basket unique, or you could look for some good baskets and sell a regular product with the same items in each, maybe 5 or so different models. You could also make them up to order as a custom product.
Ingenuity is the most important part of starting a new business. If you are starting it with very little money or a lot, having a good plan, looking in to ways you could market them, choosing a good name and look for your products are all very important. You do seem to have the ingenuity to make a nice basket with is more than half the battle.
I could go on and on but planning is the first most important step. Susan from ThriftyFun
I'm interested in starting a gift basket business from home. I would like some information on the how to's to get started. I have made baskets for my family and friends, they have said that I should start a business. I'm kind of nervous, since I don't know how to, or whom to contact on the legal parts. If anyone could give some advice or words of wisdom. I'm open to anything people could offer. Thanks a bunch. A1AMom
Hi, La Tunya, I started a home based business and would like to share with you about it. I don't sell , stock, inventory or deliver anything. I am a full time bus driver, but just referring people to this company I get an income as a thank you. Last year my hobby paid me $5100.00. My 2 friends made over $50,000. part time. Look at this site if interested. No risk. I'd be happy to get more info to you. You sound like a very hard working mother, the kind who would succeed quickly with your entreprenurial graces. Carol http://tonyandcarol.successnothingless.com/
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