How Can I Fill Gift Basket Orders with a Limited Inventory?
Erika asks: “It seems that every time a person asks me to make a gift basket, I don’t have everything they want. How do I get around this problem without buying lots more products?”
As a designer, you want to accommodate every person who calls, but this isn’t possible without buying one of everything in the marketplace, and even then there will be a problem with size, color, or shape.
Think about large stores such as Macy’s and Harrods. They own a huge amount of inventory. However, people who shop at those stores walk out every day without purchasing. Even if this fact doesn’t solve your dilemma, it proves that you’re in good company.
The only thing you can do is continually review your inventory to match it with what customers consistently request. Stock the basic items such as cookies, crackers, cheese, popcorn, nuts, and beverages, and also keep gift items for spa and baby baskets in inventory. Wholesale providers are listed at Gift Basket Wholesale Supplies and Organic Wholesale Supplies.
Whatever your customers order most often is your target. You cannot stock everything, but you can satisfy most people who buy.
How to Start a Gift Basket Business on a Tight Budget
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 Do I Pick My Name?
Amanda asks: “I can’t think of a name for my gift basket business, and it’s driving me crazy! How to you figure out what to call yourself?”
Choosing a name for your gift basket business or any business is critically important to your overall success, so your dilemma is a good one because you’re not taking this step lightly.
Selecting a name is very personal. At the same time you want it to sound right, feel right, and easily roll off the customer’s tongue when they say it.
Here are three things to consider as you decide what to name your business.
1. Will the name include your name?
Amanda’s Amazing Baskets and Amazing Baskets by Amanda are examples of adding your name so that customers know instantly who is creating their designs. If you prefer to not have your name in the title…
2. Will the name highlight what you create?
Glamorous Gifts and Glamorous Gift Baskets are examples of highlighting what your business is all about. Some designers prefer to include the word “gifts” or “baskets” to let customers know, in an instant, what they make. Perhaps you want to be more neutral…
3. Will the name be both interesting and obscure?
Creative Occasions and Distinct Impressions are example names that are keeping in line with a gift-giving theme without actually saying that you make gift baskets. Sometimes such a name is valid because you plan to go beyond gift basket making and provide customers with all types of all-occasion gifts.
These questions probably don’t make your name selection easier, but they do point you in the right direction to decide which type of name is best.
The article, How to Name Your Gift Basket Business, will provide more insight. Best of all, once you choose your perfect name, you’ll celebrate by telling everyone and marketing your business worldwide.
