How to Start Your Own Gift Basket Business

If you want to work at home, selling gift baskets is something that you should really consider. Gift basket sales are up to $700 million per year according to a survey in 1993 by Gift Basket Review. This number doesn't just include home business sales, but florists and other specialty businesses. It's a popular business because you can fill baskets with a variety of different things. Gift baskets can be made for just about any special occasion.

You can go beyond birthdays, anniversary's and create graduation, house warming baskets and so on. To start this business you need to think about work space and storage, and especially how you plain to deliver the baskets. Having said that, after you register your business with your local county clerks office, you need to set up a merchant account. If you are thinking of doing this online, I suggest free accounts such as Safepay, AlertPay and Paypal. Why pay someone when you don't have to? Another thing you will have to do is get a 1-800 number for your business. Nothing will send people to your business faster than a 1-800 number.

The Cost
You're looking at taking out a loan with the SBA or using your own personal income and savings. For a small gift basket business you'll need $1,000-$5,000 to start. For a large gift basket business, that depends on what products you need and your target market, you'll need $12,000 on up.

Pricing
As with any business you want to start, the best thing to do is to find out what everyone else in your industry is charging. The typical price range for gift baskets is from $25-$85. Use your best judgment and price a little lower than your competitors. Make them come to you!

Promoting Your Business
Here are the best ways to advertise your business. You should have illustrated brochures and business cards; place ads online and offline in magazines, newspapers, and place these ads especially before holidays; renting a space in your local craft shows; renting a space at your state fair; give samples to local businesses with your promotional materials included.

Equipment
Basically you'll need baskets, a shrink wrap machine, ribbons, products, shelving and a delivery vehicle.

Training
The only training you need is to read books about starting a gift basket business, or videos. Here are a few for you to start.
The Perfect Gift Basket: How To Make A Fabulous Gift Basket For Any Occasion By Diane Phillips, How To Start A Home-Based Gift Basket Business, 4th (Homebased Business Series) By Shirley George Frazier and Start Your Own Gift Basket Service by Entrepreneur Press. You can find the links to these books at the end of the article.

Salary
How much you earn depends on how many baskets you sell and what your profit is. The average income is $25,000-$50,000. Some people make $100,000- $200,000 a year. The best bet is to work online and offline to get the salary that you want.