Where Can I Find Gift Basket Industry Information?
Darlene asks:
“I am writing a business plan and I wanted to know if there are any Trade Publications, Trade Organizations or Associations that I can get information about the Gift Basket industry?”
There is no definitive place to find gift basket industry facts. Reports have been issued in the past through various magazines, but those reports do not provide a complete snapshot about the many individuals and corporations making gift baskets.
The main stumbling block in creating an industry report is that participating firms are privately owned. They are not required to report their income to anyone outside of the Internal Revenue Service or other governmental agency outside of the U.S.
For U.S.-based firms, the IRS is neither in the position nor obligated to compile this information for us.
I’ve done extensive research to locate information dating back to 1913, which I documented in The Gift Basket Design Book. I’ve also compiled data from an assortment of publications including Specialty Food, Gourmet News, and Gifts & Decorative Accessories.
While those publications did a splendid job at giving us an industry view, the data did not uncover information from all angles. It could not because of the above-stated boundary.
My suggestion is to plan your business according to regional information which is available your county’s administration office.
- How many people live in the area (population)?
- How many established businesses exist (corporate sales potential)?
- How many hotels and conference centers exist, and how many more are planned (out of town sales potential)?
The answers to these questions and others that uncover the town “makeup” and future plans tell you whether or not a gift basket business will not just survive but how quickly it will thrive.
If you wait for an industry report, you’ll never start, and that’s not an option.
[tags]gift basket, gift baskets, gift basket statistics, gift basket industry[/tags]
Finding a Mentor in Your Area
A designer Emailed me with the following question.
“How do I find a mentor? I want to start my business the right way and want the experience of someone who understands the industry.”
Response:
What type of mentor are you seeking — one who’s an expert in gift basket design, or one who’s able to guide you in general business practices?
I don’t believe you’ll find a person in your area who’s versed in both. Most gift basket designers are focused on building their businesses and are not willing to share their knowledge. You can’t blame them.
To have someone learn what they know and take that information to gain a following could spell the end of the mentor’s business.
My advice is to seek general business help from a small business center in your area. These organizations are usually sponsored by states in which they’re located. The department of economic development, new business development, or equivalent name is where your search starts.
As you learn about business planning on a local level, search the Internet for leads to learn more about gift basket design. DVDs such as Gift Basket Basics and gift industry trade shows that host gift basket seminars help to elevate your design knowledge.
It’s wonderful when you can find both sides of success in the same place, but that’s often not the case in this industry. Still, it’s terrific to have options available that satisfy your need to learn and profit.
Do you have a comment, question, or solution about finding a mentor? Click the “Leave a Comment” link above and let us know your views.
[tags]finding a mentor, gift baskets, department of economic development, gift basket classes[/tags]
