Gourmet gift baskets are popular among small business owners who want to give gifts to employees, customers, other business owners or business contacts. Individuals also buy them to give to family members and other people as birthday gifts or for other special occasions. Starting a gourmet gift baskets business is one of the easiest businesses to launch from home. You can keep your expenses low and gain a high profit margin if you choose wholesale suppliers with the best prices.
Education and Training
No instruction and training is required to launch a gourmet gift baskets business. You do need to develop basic product selling skills, including how to purchase and arrange wholesale supplies. Learning the best way to design a basket and being creative is important, however you can learn by simply studying baskets on the market, or viewing a video tutorial.
Earning Potential
It’s possible for you to expect to make $50,000 per year in gross sales and sell to corporations. You can make around $30,000 when you first get started, although you will make less selling directly to individuals. Some businesses who have been operating for years and have created enough corporate contacts have made as much as $200,000 in sales. The corporate marketplace does pay more, and big batches, rather than purchases that are one time yearly from individuals are ordered by corporations.
Niche Market
The best way to run a gourmet gift baskets business from home would be to decide on a niche that you want to serve. You must focus your marketing and time on small businesses and corporations or individual and families. That really doesn’t mean that you should turn down opportunities from someone who is not your target audience, but it does mean you should place your advertising dollars on one niche market. Some of the special occasions that individuals need baskets for include:
- Anniversaries
- Birthdays
- Housewarming parties
- Special events
You do not desire to specialize in any one of these areas. You have to decide to cater to the corporate or non-corporate markets.
Gourmet Gift Baskets Contents
Gourmet foods, snacks and beverages are the basic ingredients to gift baskets. Some of the items include:
- Fruit
- Cheese
- Candy
- Chocolate
- Coffee
- Crackers
- Cookies
- Jams and preserves
A major element of your business will be to find these items at wholesale prices so that you could make a profit. Network within trade associations and other groups that have gift basket business owners as members to assist you sort out which suppliers you must work with. You ask a lot of questions, should also participate in forums and get the inside scoop of which wholesalers to work with.
Market Research
With the potential of making $50,000 a year from your home, you can expect to have competition. You need to see what they sell and who your competitors are, who they sell to before you launch your business. Beginning with your competitors that are local first and then branch out to on-line adversaries. Pay attention to costs, but also what method of delivery they use, like a courier service, hand delivery or post. Check review sites, like Yelp.com, to see what others are saying about the competition, and determine how you can distinguish yourself.
Whatever niche market you serve, make it a point to always offer high quality gourmet gift baskets. You’ll earn repeat business and contracts as a result.
Article publié pour la première fois le 28/09/2015