If you are looking for a great business idea that you can start from home and have a chance to really grow, then the gift basket business is right for you. A recent study shows that the sales of gift baskets is expected to top $3 billion this next year. Gift baskets have enjoyed explosive growth in popularity over the past several years as the number of home-based businesses and independent shops catering to the corporate market has increased.
Gift baskets can be customized to suit the giver, the recipient, the occasion and the desired price. Hence over past couple of decade’s gift baskets have become a gift of choice for birthdays, baby gift baskets, weddings, special events, candy gift baskets, coffee baskets, anniversaries, housewarming ceremonies and romantic occasions.
It has become a way of expressing your gratitude, sympathies, and congratulatory message for a new baby by sending a baby basket, and other celebratory milestones in life. Another large consumer of gift baskets are large corporations that send them to their employees for milestone achievements, and also to thank customers for their business.
The gift basket business is a low-cost, low overhead business that depends primarily on your creativity and imagination. The more creative one is, the better your chances are of succeeding. In addition to being creative, one will also need to have marketing and financial skills to run a business . More than the fun and creative part of making the gift baskets, you need to combine the skills of running a business (e.g. record keeping, purchasing, cash flow management, marketing and advertising) with a strong dose of excitement and enthusiasm.
The goals of your marketing strategy should be spread the word about your business, create a desire for your products, cultivate the image that you want for your business, and convince buyers that your gift baskets are the best. The two best techniques for marketing your gift basket are favorable word of mouth and customer’s satisfaction.