The gifting market is a $253 billion market, meaning that almost 1% of the money spent on retail is to buy a gift. This is great news for the gift professionals everywhere. With several major gifting holidays, and many other gifting occasions throughout the year, opportunity is knocking at your door.
But how do you get started?
Here are some basics needed to start a gift basket business:
First, you need to do your research:
-who is your competition?
-who is your target market?
-who are your potential customers?
Write a business plan: this will help you put your goals and ideas into a clear format, and serve as a place to go back and check how you are doing.
Write a marketing plan:
-how are you going to attract your potential customers?
-will you profit from corporate clients, foot traffic, or a combination of ways?
Once youve done the above, choose a business name, get your business license and Tax ID.
Take time when you choose your business name: when you first start, you may want to have your name included in your business name, or even a “cute” name, but later on, as you get...
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