I am looking to make gift baskets for children ages infant and up to 10 years old. Some will be grad toward children with special needs. Their will be a few things for baby needs, holiday, Special needs children. Non food items.
I live in the usa. I will be putting up a web site for people out side of my area.
I do not know what to charge for these gifts.
The best way is to look at other online stores and see what prices they charge. That will give you an idea of what people will pay. You may sell a bit cheaper or offer more for the same price.
Later as you start to earn money you can adjust your prices. You need to work out what your items cost, and then you can go from there. Gift baskets take time to make look pretty so there is a big labour cost.
Remember that the other companies out there are paying wages and materials costs and also make a profit.
Just dont price yourself too high.
December 14th, 2009 at 7:27 pm
The best way is to look at other online stores and see what prices they charge. That will give you an idea of what people will pay. You may sell a bit cheaper or offer more for the same price.
Later as you start to earn money you can adjust your prices. You need to work out what your items cost, and then you can go from there. Gift baskets take time to make look pretty so there is a big labour cost.
Remember that the other companies out there are paying wages and materials costs and also make a profit.
Just dont price yourself too high.
References :
December 14th, 2009 at 8:17 pm
Compare with your competition and go accordingly
References :
December 14th, 2009 at 8:49 pm
Congratulations on your decision to start a gift basket business.
I have a feeling that you’re starting your business from home, and in that case, the general markup for gift baskets made in a workspace at home is three times the wholesale cost of all items within the basket.
Purchase your products from wholesalers so that your costs stay as low as possible. Then you will triple the cost of everything within the basket, from the bottom to the bow. That’s how the initial rates are set.
From there, you will be able to make adjustments as you become more experienced.
The frequently-asked questions pages of GiftBasketBusiness.com will provide you with more insight on this creative industry. I’ve included a link below.
I know about gift baskets because I started my business in 1990 and am the author of the world’s best-selling industry books, How to Start a Home-Based Gift Basket Business and The Gift Basket Design Book.
I wish you baskets of success and more.
Shirley George Frazier
Author and Small Business Expert
References :
GiftBasketBusiness.com FAQ
http://www.giftbasketbusiness.com/faqindex.htm
December 14th, 2009 at 9:21 pm
you need to find out your profit margin is for your business. There should be industry information that can give you a guidelines on what your margin should be, like 20% net. In addition you should work to get your name out by doing some advertising or guerrilla marketing.
Here are a few links that should help:
http://www.adcomarketing.com/Article/Adco-Promotional-Product-Services.html
http://www.bplans.com/gift_basket_business_plan/executive_summary_fc.cfm
good luck!
References :
http://www.adcomarketing.com/Article/Adco-Promotional-Product-Services.html
http://www.bplans.com/gift_basket_business_plan/executive_summary_fc.cfm