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By Flora Morris Brown, Ph.D. | August 22, 2008
How do gift basket businesses sustain themselves through ups and downs?
Gift basket businesses that last have many things in common, but let’s focus on three.
- Service small business and corporate clients who have ongoing need for gifts
Chris Johnson, owner of The Basket Beagle, shares how she maintains her business
I live in a very small town - I started my business out of my home. There is no other business dedicated to gift baskets in my area. My main customer was a local hospital who frequently needed baskets. They are part of a larger organization located about 40 minutes away, so I was able to have them as a customer on a more limited basis.
Having a home business was nice for me, but the business was limited. I finally opened up a small retail shop in December. The space is small but the public does have better access to me.)
- Promote business continuously through advertising and networking
Chris Johnson continues
Advertising is expensive but necessary. I have advertised in the local newspaper and a small radio station. I am now advertising on a more well-known radio station as a sponsor for a local church (my church airs their Sunday morning service). I am a member of the Chamber of Commerce (I would recommend this to anyone starting a business - you have access to so much) and try to participate in many community activities (this helps get your name out there). I have provided some gift baskets for charity organizations (this also helps get your name out there.)
- Manage inventory to meet needs of clients but also control their budget
Finally, Chris points out
Being in a small area, my inventory has to be kept to a minimum. I try to have a variety of items not found locally, but being so small it is difficult to purchase wholesale from companies with minimum orders. I am fortunate that my husband is so supportive — in fact, he is my “investor” - I don’t owe anyone anything (loans, credit, etc). And it is helpful come tax season.
Following the advice Chris offers will help you sustain your business in good and bad times.
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Topics: gift basket business, managing your business, marketing |
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