Starting a Gift Basket Business
A gift basket business is easy to start. You just need some baskets, wrapping materials, and lovely gifts to fill them. First, make a business plan. Get the required licenses. Buy supplies. Make stock of baskets for quick sales. Create a website. Advertise your gift basket venture.
Business Structure and Profit
What type is this business? Most are LLCs for best tax breaks and asset cover. Otherwise, it defaults to a sole proprietorship.
Cost each basket between $45 and $50. Offer inexpensive and costly ones. Appeal to all budgets. Put together corporate gift baskets, holiday baskets, care package baskets, or anytime present baskets.
The profit you should make on a gift basket is 25-30% gross. Net profit should be 10%. Mark up basket contents by 100% to achieve this.
Marketing and Selling
Include 10 items in a medium/large basket. It depends on size of products and presentation style. Custom orders vary.
Valentine’s Day gifts sell well after winter. Personalized, funny items attract shoppers. Harry & David’s gift box was the most popular 2021 Valentine’s gift.
To get new ecommerce product ideas:
- Sell roses in glass domes
- Offer 3D romantic lamps
- Create personalized party supplies
- Craft home decor and living items
- Make jewelry and accessories
- Put together wine, chocolate, teddy bear gift baskets
Conclusion
Gift baskets are practical, indulgent gifts. Repurposed baskets can be part of the gift. Besides baskets, customized items are top Valentine’s Day sellers.
Create designs using popular themes. Use hashtags and templates to promote products on social media. Offer discounts to create urgency and remind customers of the deadline.