If you like to put things together and you’d like to make a bit of money, why not make gift baskets? Gift baskets are always popular and universally appreciated because it’s useful, pretty and practical. You can start small or make an entire business out of it working from your own home. It doesn’t take much to get started.
Here’s how to make money by selling gift baskets.
- Determine your target market. The first thing you need to do is to think of whom you can sell your gift baskets to. Do you want to target corporate accounts, or do you want to cater to other homemakers and individuals? This will help you think of themes for your gift baskets as well as how to price your product properly.
- Offer various sizes and price ranges. You need to offer diversity for your product line. Make gift baskets that are affordable, some in the mid range and some that are in the higher price range. This way, your clients have a variety of options to choose from.
- Create themes for different occasions. Create baskets with a particular recipient in mind. For example, you can make a baby shower gift basket, Just for Him, Just for Her, Easter gift basket and of course, various options for the Holiday season. The themes will determine the items inside the basket, as well as the color scheme you will use or the type of basket or packaging you will utilize.
- Make it beautiful. Your product has to be a standout. It has to be presentable and have a wow factor. Make it unique from the other gift baskets in the market. Aside from choosing well thought of items to include inside the basket, make your packaging exciting and beautiful. It has to be something that a person won’t be able to imitate easily. This is what will set your gift basket apart from homemade creations and others out there in the market.
- Price your product competitively. It’s important that you have an adequate markup for your product when you price it to sell. The raw materials and items you use will play a major influence on the pricing of the basket, but you must also include labor cost, shipping, handling, advertising and all other costs relating to your business. You are making the baskets to make a profit so be sure not to sell yourself short.
- Advertise heavily. Post sample baskets of your product line on your blog or website. Get word of mouth around what you sell. When you have a client, thank them for the business and don’t be afraid to ask for referrals. Peddle your gift baskets to offices as Christmas giveaways or door prizes, but solicit as early as September or October. Create a database for your book of business so you can call clients and update them on your latest products.
Making gift baskets is fun to do. If you source your items properly, you
can get a good deal on it so you can have a higher markup or pass the
savings on to your customer. Hire help as needed, especially during the
holidays when you may have more business.