Start & Run a Gift Basket Business

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ISBN: 9781551805030 | 1551805030
Cover: Paperback
Copyright: 5/31/2005

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With little more than some working space and a few basket-making items, an ambitious and creative person can cash in making creative gift baskets at home. The potential for unearthing new markets and finding motivated clients is unlimited in this easy-to-run small business.Start & Run a Gift Basket Business provides practical instructions for setting up and operating a successful gift basket business, whether run on a seasonal or year-round basis.This new edition includes an additional chapter with insider's tips on gaining and keeping a good reputation in this business, plus a bonus CD-ROM with marketing and business tools designed specifically for the new entrepreneur.

Introduction	p. xi
Getting Started	p. 2
Self-Assessment	p. 2
Determining Your Market	p. 4
Market Research	p. 4
Set a time frame for completion	p. 5
Define both your primary and secondary needs	p. 5
Allocate resources	p. 6
Gather the data	p. 6
Analyze the information	p. 6
Gathering Primary Data	p. 6
Gathering Secondary Data	p. 7
Your Course of Action	p. 8
Location, Location, Location	p. 10
Location Considerations	p. 10
Demographics of the Area	p. 11
Leasing Office or Studio Space	p. 11
Proximity to your potential customers	p. 12
Customer parking facilities	p. 12
Accessibility to a loading dock or freight elevator	p. 12
Storage and work space	p. 12
Signing a Lease	p. 12
Shared Retail Space	p. 13
Seasonal Kiosks	p. 14
The Home-Based Business	p. 14
The business and your home	p. 15
The business and your family	p. 16
Business Resources and Equipment	p. 18
Business Resources	p. 18
Mail services	p. 18
Business telephone line and fax line	p. 18
Telephone options	p. 19
Deliveries and Transportation	p. 20
Courier companies	p. 21
Freight forwarding companies	p. 21
Local delivery companies	p. 21
Company vehicle	p. 22
Basket-Making Equipment	p. 22
Office Equipment	p. 22
Electronic Equipment	p. 23
Computer and printer	p. 23
Facsimile machine	p. 23
Answering machine	p. 24
Other	p. 24
Office Supplies	p. 24
Custom printing	p. 24
General office supplies	p. 25
Your Financial Investment and Plan	p. 28
Financing Your Venture	p. 28
Personal savings	p. 28
Family and friends	p. 28
Banks	p. 29
Private investors	p. 29
Government	p. 29
Your Business Plan	p. 30
Executive summary	p. 31
Personal experience and background	p. 31
Description of product and service	p. 31
Sales and marketing strategy	p. 31
Forecasts and projections	p. 31
Financial Management	p. 34
Forecasting Cash Flow	p. 35
Cost of Sales and Inventory	p. 35
Fixed Expenses and Overhead	p. 36
Marketing Costs	p. 36
Start-Up Costs	p. 36
Forecasting Sales	p. 36
Planning and Pricing Your Gift Baskets	p. 44
Your Gift Basket Designs	p. 44
Establish some standard designs	p. 44
Custom-made baskets	p. 45
Keep Basic Items in Stock	p. 46
Buy Packaging Inventory	p. 47
Basket or container stuffing	p. 47
Cellophane wrap	p. 47
Ribbon	p. 47
Raffia	p. 48
Gift tags, gift cards, and gift labels	p. 48
Tips for Making Baskets	p. 48
Sources of Inventory	p. 49
Purchasing Inventory	p. 49
Inventory Control	p. 53
Establishing Terms and Credit	p. 53
Setting a Price for Your Product	p. 54
100% mark-up	p. 54
Wholesale costing	p. 55
Pricing large volume orders	p. 55
Other considerations	p. 55
Computing Your Profit Margin	p. 55
Keeping Your Operations in Order	p. 58
Striking a Balance	p. 58
Hours of Operation	p. 58
Sales	p. 58
Payment	p. 61
Cash on delivery	p. 61
Credit cards	p. 61
Invoicing	p. 62
Keeping Your Non-Financial Records in Order	p. 62
Calendars	p. 62
Filing systems	p. 62
Billing, credit, and collection	p. 63
Personnel records	p. 63
Tax records	p. 63
Managing Your Time	p. 63
The long-term agenda	p. 63
The intermediate agenda	p. 63
The immediate agenda	p. 65
Learning your turnaround time	p. 65
Time management systems	p. 65
Consumer Fairs and Trade Shows	p. 65
Staying Organized As You Grow	p. 66
Advertising and Promotion	p. 68
Why You Should Advertise	p. 68
Print Media	p. 69
Direct Mail	p. 69
The Yellow Pages	p. 70
Professional Design Services	p. 72
Names and Logos	p. 73
A name that sells	p. 73
A logo that tells	p. 73
Image	p. 74
Design and Copy	p. 74
Color and Photography	p. 74
Sales Brochure	p. 74
Set up the photography session	p. 76
Meet with the graphic designer	p. 76
Printing	p. 81
Internet Marketing	p. 81
Web sites	p. 82
E-mail	p. 82
Costs	p. 82
Location, location	p. 83
Getting started	p. 83
Seasonal Advertising	p. 83
Special Promotions	p. 84
Open house/grand opening	p. 84
Small giveaways	p. 84
Fairs and craft shows	p. 84
Trade shows	p. 84
Displays	p. 84
Donations	p. 85
Community events and organizations	p. 85
Measuring Advertising Effectiveness	p. 85
Sales and Marketing	p. 88
Personal Contacts	p. 88
Networking	p. 88
Memberships	p. 89
Tourism, convention, or visitors' bureau	p. 89
Board of Trade or Chamber of Commerce	p. 89
Meeting Professionals International	p. 90
International Special Events Society	p. 90
Top Down Marketing	p. 90
New product launches and company promotions	p. 91
Special events	p. 91
Non-competing businesses	p. 91
Selling Your Product and Services	p. 91
Making the sale by telephone	p. 92
Making a sales presentation	p. 92
The Importance of Service	p. 93
Employees and Personnel	p. 96
Being a Sole Owner/Operator	p. 96
Casual Labor and Seasonal Helpers	p. 97
Hiring an Assistant	p. 97
Office Manager/Bookkeeper	p. 98
Hiring and Keeping Good Employees	p. 98
Common sense guidelines to hiring employees	p. 99
Common sense guidelines to keeping good employees	p. 100
Making Your Business Legal	p. 104
Your Legal Structure	p. 104
Sole proprietorship	p. 104
Partnership	p. 104
Limited partnerships	p. 104
Incorporation	p. 104
Using the Services of Professionals	p. 106
Choosing Your Name--Legally	p. 106
Insurance Requirements	p. 107
Leases and Rental Agreements	p. 108
Zoning Laws and Business Licenses	p. 109
Zoning laws	p. 109
Licenses	p. 109
Sales Taxes	p. 110
Employee-Related Regulations	p. 111
Miscellaneous Permits	p. 111
A Final Word	p. 111
Accounting, Record Keeping, and Taxes	p. 114
Accounting and Computers	p. 114
Bookkeeping	p. 115
Sales and Accounts Receivable	p. 115
Cash sales	p. 115
Credit card sales	p. 117
Invoiced sales	p. 117
Accounts Payable	p. 118
Petty cash	p. 118
COD and cash purchases	p. 118
Payable invoices	p. 118
Company credit cards	p. 119
Personally paid company expenses	p. 119
Payroll	p. 119
Inventory	p. 120
Maximizing Deductible Expenses	p. 120
Accountants	p. 121
A Final Word--Growth and Your Business	p. 124
Advertising Specialties or Promotional Merchandise	p. 124
Gifts and Awards	p. 125
Gift Basket Network	p. 125
Appendix	p. 127
Glossary	p. 135
Worksheets
Self-assessment test
Business expenses
Start-up expenses
Samples
Business start-up costs
Overhead and fixed expenses
Marketing expenses
Monthly sales forecast
Tying bows
Purchase order
Order form
Invoice
Direct mail sales piece
The five-point design
Sales brochure
Gift tag and label
Advertising and promotions expense breakdown
Balance sheet
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Start & Run a Gift Basket Business

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