You probably want to make m$ney fast with your gift basket business. But are you willing to do what it takes? Let’s see. Here are the five essentials.
1. Research on and offline.
Search major search engines for keywords such as “gift basket business” and “how to start a gift basket business”. But go deeper and search for gift basket books, magazines, newsletters, associations, conferences and classes.
Learn from others who have already operated businesses and have written articles, blogs, and books with loads of information. Every question you could possibly ask has probably been answered somewhere.
Once you’ve explored the Internet, do a local search. Get acquainted with the other gift basket sellers in your area. Explore creative ways to sell gift baskets in places such as eBay, craft fairs, and conferences.
Next, look to see which retailers are offering them as part of their inventory, such as grocery stores, florists, department stores, specialty stores and coffee shops. You may be able to partner with retailers, providing the gift baskets they need.
2. Test for demand.
The fastest way to make money in any industry is discover an unmet demand. Find out who is looking for what you offer and are having trouble finding it.
One popular theme that is being sought by many gift buyers, for example, are baskets made up of licensed sports team items. If this group of buyers is in your local area, your chances of success are great if you promote energetically..
But even if these ready buyers are not in your local area, you still can profit from their hunger for these custom designs by setting up and promoting them on your website.
3. Find customers first, buy inventory second.
Many beginners do this backwards. They get mesmerized by the alluring gifts and delicious gourmet food at trade shows and lured into ordering cases of food, supplies and stocking equipment. Then they frantically search for customers to buy what they have in stock.
If you want to earn profits, approach your potential customers first. Your first contact with them is continuation of your research. Find out what types of occasions they celebrate. Then ask what gifts they buy for these celebrations. This information is gold. It can help you plan.
Your friends and family will be your initial contacts, but to prosper you will need to find customers on and offline. And remember, at first you’re trying to get a sense of how they shop for gifts, and what price points convert them into spending customers.
Since businesses buy more gifts than individuals, find the companies who would make ideal clients for you by attending your local chamber, business networks and hospitality and convention bureau.
4. Accept that you are an expert.
Use the information you gathered in your research to create tip sheets, a newsletter and other shopping guidance for your potential customers. As you attend business and networking meetings, extend your advice and tips about gift-giving without pushing for sales.
You are building relationships. It’s only after members have gotten to know and like you that they will buy from you..
Take only one sample of a design to show your work. You are not trying to sell at these meetings, but make attendees aware of your skill and availability.
When you introduce yourself at these meetings, stress the benefits you offer customers, not the features.
When you collect business cards, follow up with phone calls or email within 3 days of meeting new colleagues.
5. Nourish the support you have to create a successful business.
Cultivate your relationships and rally the support of your family.




