PREM DUBEY-Chairman(Jabalpur Chamber of Commerce)
A Platform for Entrepreneurs!
Thursday, 15 September 2011
Start a Special Gift Box Business.
(12)Start a Special Gift Box Business
The Business Opportunity of Special Gift Box Business.
Whole year we are involved in some or the other occasions, and it’s a tradition to present gifts to other, Special Gift Box Business, is totally a new trend to present a gift to your dear ones on special occasions may it be Diwali , Dusshesra, New Year, Eid, Christmas, New House Inaugration, Marriage, Engagement, Corporat Gift (like buying a new car, bike ) , Birthdays, Vehicle Puja Pack , or any Spritiual Gift Box. So you can learn how to start a gift box businesst and earn a good income from your home. A personalized gift box business creates and delivers gift box for individual customers as well as businesses.
Requirements for Starting a Gift Box Business:
Knowledge of local traditions, culture and products
Relationship with suppliers of gift items, packaging material etc.
Ability to creatively select and assemble gift items
Creative packaging skills
Storage space and shelves
Packing and decorative materials
These Gift Box are I deal and quite innovative gifting option, provides ease of use for personal purposes, they are highly attractive packaging of all items. .
To understand the need for a personalized gift basket business you first need to understand the reason for gifting and the target customers. People usually give gifts on special occasions, to thank someone or to show their love and appreciation. Similarly businesses also give gifts to reward customer loyalty, promote a product, service or event and to award their employees. In all these cases, the need is to have a unique gift item that is customized to the reason for gifting. A personalized gift basket maker assembles gift items suitable for the gifting requirements and delivers them in a creative packaging.
As a startup gift box business you will usually keep a handy collection of generic gift baskets that can be sold as is to the customers. It is essential to develop these generic gift baskets to create a portfolio of your work that you can show to prospective customers.
This has a world market . A gift basket business can be run both offline and online. If you run your business offline you will be limited to your local area. The advantage of running the gift basket business in your local area is that you will be able to keep yourself updated about the market, trends, new suppliers etc. easily. The advantage of running this business online is that you will not be limited to the customer base in your local area; however, you will have to work with customers from different cultures, needs etc. and you will need to keep abreast of the changes in different markets and trends. To run an online gift basket business you will need to create a website with the catalog of your gift baskets, a payment system and an option to receive requests for customizations.
In the beginning, try promoting your personalized gift basket business between your relatives and friends who in turn can refer their friends and relatives to you.
One great aspect of this business is that your suppliers can become a great source of business for you. Ask your suppliers (gift shops, spiritual retailer shop chocolate makers), from whom you purchase gifts for making gift baskets, to display your contact details in their shops for people who wish to have a gift basket made and, in turn, you can promise them to buy the gift items from them.
The pricing will be based on two factors, the cost of gifts, packaging and shipping and the cost of customization time and effort. For standard, ready-to-sell, gift baskets you can charge a fixed price that covers the cost of items, packaging and delivery along with your profit margin. For customized gift baskets, apart from the cost of material and shipping, you can either charge a fixed additional amount or bill the customer at an hourly rate for customization