Can you start a GB business for under $100? "I don't think so. With a well thought out plan you could probably start out for under $250. A quality heat gun, roll of shrink wrap, 2 rolls of wired ribbon, heavy duty tape & a turntable are going to use up your first $100."
How do you determine the price of your baskets?
"There are different methods of pricing. Some use a mark-up percentage of the combined cost of the basket, products & filler. Others add a flat fee for the labor to construct the basket. I use a hybrid system depending on the client & the gift."
It takes more than a delightful product to increase and maintain sales. You must make it convenient for people to order. Jennifer has online ordering available at http://hometown.aol.com/punkinpro1 and www.punkinproducts.com . She accepts payment by credit cards and PayPal. You can request a free catalog or order one of her baskets by calling her toll free number: 1-877-483-2757 or order by fax: 1-570-226-5642.
Jennifer's customers presently include Insurance agents, Realtors, small corporations & Non-profit groups as well as individuals.
What's the future look like for Punkin's Gift Baskets and Boxes?
"We decided to close the actual gift store, hence all the remodeling going on at my house. It was just not profitable & took all the fun out of making the baskets. I'm strictly referral & online business now. I do some online advertising, mostly banner exchanges. I will be looking into more of it now that the store is closed. I'm also looking into setting up a complete online storefront. That does require an initial investment though, so it may have to wait a month or so."
Advice to anyone who starts a GB biz:
"1) RESEARCH.
2) Don't be shy (I am, very) Tell everyone who will listen to you about your new venture. Don't bore them to tears with the details; keep it short & to the point. Your answer to "Hi, how are you?" is not "Fine, how are you?" it's "I started my own gift basket business, here's my card. If you need anything, call me!" If they want to know more they'll ask.
3) Think of the gifts in terms of what you would like to receive. What would you rather have a large extravagant basket with only a few products in it or an inexpensive basket overflowing with beautiful products?
Where to start:
· Festivities Publications, Inc (www.festivities-pub.com) publishers of Gift Basket Review Magazine & other books & videos about the industry.
· Nowco Inc (www.nowco.com) they carry all manner of supplies, baskets, boxes, heat guns & how-to videos.
· Search Gift Baskets (www.searchgiftbaskets.com & www.searchgiftbaskets.net) these are sites for shopping for gift baskets made up of 300 members from all over the US, Canada & other countries, there are links to information about new business start-up. The sites received over 90,000 hits in August 2001.
· Flowers, Inc Balloons (www.flowersincballoons.com) florist, balloon & basket supplies.
· Your state Tax Division. Many wholesalers will not even send you a catalog unless you provide them with a resale or tax exempt #."
A little creativity and a lot of hard work greatly increase the success of your home business. Learning by making mistakes can help you make your business grow. Start slow and invest your time into research. The more you know beforehand, the better equipped you will be when facing your own challenges and obstacles.
*The Future of Small Business - Trends For a New Century http://www.irs.gov/smallbiz/allbusinesses/index.htm Photos provided by Jennifer Powell: Punkin's Gift Baskets & Boxes
~~~~~~~~ About the Author ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
As manager of Real Jobs Online, JoAnna Gilford is committed to real telecommuting employment and education. She is the author of "Work at Home Workshop: The Truth About Telecommuting" and editor of RJO's daily newsletter. See a sample issue or subscribe at http://www.realjobsonline.com/sample.htm ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
