How to Start a Gift Basket Business on a Tight Budget
Posted on January 6, 2012
Filed Under Business Basics | Comments Off
Amanda asks:
“How do I start a gift basket business when I’m on a budget and don’t have a lot of money to buy what’s needed?“
It’s true that the business of gift baskets requires that you invest in a considerable amount of inventory.
However, many industry participants began their businesses with a tight and lean product assortment, allowing them to make a specific number of every day gift baskets to market their businesses. This allowed them to promote, sell their designs, and gradually buy more products and offer more variety.
This is how you start on a budget. Here are the main tips.
1. Determine who will buy your gift baskets so you know where to market.
2. Decide which types of gift baskets you’ll make so you purchase the right inventory.
3. Research where to buy products so you select high-quality items at the lowest prices.
4. Set up your workspace in a room that’s already paid for with rent or mortgage monies.
5. Invest in business cards and postcards for marketing purposes as well as a blog or social media page.
Focus on these five steps, and you will accomplish what many of us experience now — gift basket businesses that provide us with satisfaction as it satisfies the personal and professional needs of our customers.
How to Get a Corporate Account that’s New to the Area
Posted on December 2, 2011
Filed Under Corporate Accounts | Comments Off
Carissa asks:
“What is the best way to contact executives at a company that’s new in town? I want to make them my customer before they start buying from another gift basket company.”
One way that’s proved both popular and successful with other designers is to send the top executive a letter welcoming him and his staff to the area.
Consider sending a low-priced, yet high-quality gift basket as a follow-up one week later.
There are other ways to get their attention and account whether you send the gift basket or decide not to.
- Monitor the chamber of commerce to learn if executives join so you can meet them there.
- Review the local newspaper for several weeks for any announcements about the firm.
- Ask colleagues and clients if they know anyone who works at the company.
Remember that you not only want to contact the executives but also want to be armed with information that lets you provide them with reasons why your gift baskets are important to their success.
I have a good feeling that your being proactive will encourage this company to become your customer.
Are Catalogs Still Necessary?
Posted on November 4, 2011
Filed Under Marketing | Comments Off
Penny asks:
“I know that people want to feel and touch a catalog, but making one for my gift basket business is a huge expense. Do I really need a catalog?”
It’s true that customers still want to receive a catalog by mail or walk away from your display with something concrete in hand. This marketing tool validates your business in their minds over a competitor that does not have such materials. It also confirms to them that you are in business for the long run.
When you decided to start a business, your business plan is where you mapped out the marketing strategy. What marketing literature did you choose to create for face-to-face and mail distribution? Look at your plan to refresh your mind on what methods you selected.
If catalogs were not part of the initial plan, perhaps postcards and flyers are on the list. They serve as catalogs in a condensed format, as postcards and flyers include images and text similar to a multi-page catalog.
Here’s a page that shows you options for creating a catalog whether now or in the future.
It’s okay not to have a full-blown catalog similar to what major retailers distribute as part of their marketing campaign. Pick an alternative, but be sure to pick something to print and distribute so prospects and customers remember you.
