How to Find Expert Help for Your Gift Basket Business
When my business first started, I knew it was possible to find business advisors to help me with generic information on marketing, competition, and funding, but who could possibly help me with the specific needs of creating and growing a gift basket business?
My first try at finding a business-specific mentor was through a New York-based organization that I believed had at least one option for me to speak with a person already in the business. I asked them point blank, “Does this person, at a minimum, have retail business experience?” to which the answer was “Yes.”
Who did they pair me with? A man in his 80s who advised me to buy jewelry and perfume as part of my inventory.
I’m not knocking this person’s age, but I have to give you his vitals to understand why this man recommended items that don’t sell in this market. His “Mad Men” frame of mind doesn’t work for gift baskets, so I walked out of that meeting shaking my head and vowing not to trust that organization’s mentor recommendation again.
Thinking back, the industry had no mentors at that time. The Internet wasn’t yet available, so there was no way to uncover gift basket-specific experts (which didn’t exist anyway).
Finding help today is still somewhat difficult because of one main reason: most gift basket designers are not willing to share the knowledge that makes you a competitor. You may not like that answer, but that’s the bottom line.
Thankfully, there are business experts who are more in tuned to today’s marketplace and are found:
- At libraries
- Through small business development centers
- In adult school classes
My local facilities are often the place where one-to-one business meetings are held between mentors and new owners.
Their staff has connections that will lead you to a person with the retail experience I couldn’t get years ago.
You’ll spend a few dollars and time (a night session or a few weeks) learning tips from a business person who’s been where you want to be.
I wanted my mentor to help me understand certain requirements that are still valuable today such as:
- What questions do I ask an accountant to qualify him/her to help me keep my finances updated and keep track of laws that affect my business?
- How can I quickly research and list all of the companies in my area that are buying candidates, and how do I approach them?
- What do I say to prospects during a meeting that will get them to say “yes” and place orders?
If finding a mentor is key to building your business, I’m offering 30-minute expert help sessions throughout August that will end nagging problems so that your business moves forward in the manner you envision.
This summer service is just $1 a minute, a hefty discount from the regular prices listed for one question ($47) and general consulting help (starting at $350/hour) at GiftBasketBusiness.com. Now’s your chance to get the advice you want without traveling – just make an appointment through the setster link below. We’ll talk by phone and get your business on track in time for the busy holiday season.
From the feedback I’ve received through surveys about this help line, it’s almost guaranteed that spaces through August 31 will fill quickly, so please, book your session today. Once booked, you can pay quickly by Email.
Your questions are welcomed through the comments section of this post so that you’re assured that your time and money are spent wisely.
Summer’s the Right Season for Gift Basket Sales
Do you keep a list of methods available in order to sell more gift baskets in July and August?
One edition of the Gift Basket Business newsletter, which you access by clicking here, shares two ways that may increase sales during the seemingly-slow summer months.
I write the words seemingly slow because with planning, summer can be as lucrative as other seasons.
For example, many corporate events, conventions, and retreats are planned at this time. One way to find out what’s happening in your area is to visit Web sites that are local to your region to learn the latest corporate news.
My state has seven tourism Web sites, all of which I consult on a regular basis for updates on who’s coming to town, when they will arrive, and who to contact to market welcome gift baskets and other gift options (prizes, special appreciation, etc.).
How do you ensure that summer is a busy gift basket season?
Wholesaler Wednesday, 5 Questions for…Bomba Insurance Agency
The topic of business insurance isn’t glamorous or fun, but it’s essential for gift basket business owners who are serious about protecting their personal and business assets.
Thankfully, Bomba Insurance Agency specializes in our industry’s insurance requirements, and their answers to the following five questions are meant to provide clarity and peace of mind whether you’re searching for coverage, considering a policy change, or wondering if your existing coverage is adequate.
Q: Why do home-based businesses need insurance?
A: You need insurance because as a business owner, you accept the responsibility of injury to your customer and/or to their property.
Q: I’m operating a hobby that’s not necessarily a business. Would my home’s insurance cover me?
A: Your home insurance may cover you, but if you file a tax return for the hobby and you are selling and making/losing money from it, then the hobby is excluded for liability coverage under your home insurance policy.
Q: My homeowner’s insurance agent says I can get a policy for about $10 a year under my home’s existing policy. Why not do that?
A: You must read the policy to learn what’s covered under the section entitled “Business Pursuit.” In most instances, it only protects you if a customer is injured in your home. This works for tutors and similar practices but does not provide coverage if you exhibit outside of the home.
Q: Isn’t business insurance expensive?
A: Not necessarily. Prices can be very different, so it’s best to shop around to compare rates. Some companies offer coverage for as low as $200 a year depending on the type of business.
Q: How much insurance is enough?
A: A general rule of thumb is to cover your business for what you have to lose. Cover your assets to start. Of course, with the current economy and the possibility of juries awarding substantial sums of insurance company’s money, it’s hard to put a number on it. Usually, the more insurance you buy, the cheaper it gets. I always tell new clients that even if they start with basic coverage, it is more protection than they had yesterday!
What questions or comments do you have for Bomba Insurance Agency? I encourage you to share your feedback in the comments section below.
This may be a scary subject, but isn’t it best to get answers now while questions are on your mind?
Stay tuned next week for four more questions about insurance coverage.
I’m pleased that Bomba Insurance Agency supports our industry, is a partner of this blog, and is sponsoring the fifth edition of How to Start a Home-Based Gift Basket Business.
How to Introduce Your Gift Basket Business
“What do you do?” is a common question asked by people who meet you for the first time. What’s your response? Is it:
“I make gift baskets.”
“Well, tell me what you do first.”
“My business brings multi-million dollar companies together.”
Your opening line at networking events must do three things:
1. Be truthful.
2. Intrigue listeners.
3. Keep the conversation going.
It’s not easy to create an introduction, but it’s not impossible to graduate from the “I make gift baskets” statement.
One way to build your introduction is to lock in on the emotional side of gift giving. Your business strengthens bonds, creates long and rewarding relationships, and it opens the door of communication between two or more firms.
Because people relate to emotions, that becomes your introduction’s foundation.
Depending on how your business satisfies customers’ needs, your introduction might be configured in one of these methods:
- “When companies can’t iron out their differences, they ask me to help jump start the conversation.”
- “Think of a company you want to work with but can’t because they won’t pick up the phone. My company specializes in solving your problem.”
- “I create tokens of appreciation that make you stand above competitors. Which of your clients have you forgotten to thank?”
What’s your introduction line, or if you haven’t yet created one, which of the above examples is for you?
What’s Your Favorite Inner Basket Material?
Do you remember your first question about making gift baskets when you entered the business? I recall asking myself:
How do they stuff the inside of the basket?
That question was really asking about the type of material used to elevate products to rim level.
I checked out what was inside of fruit baskets while at a store but wasn’t convinced that what they selected was right for gift baskets.
Then I decided to fill my baskets with newspaper. That worked well and still does for many designers. Then I learned about unprinted newsprint, the type with no ink on it so that your hands don’t get soiled while crushing the paper. That’s still a favorite product.
New designers often ask me about adding Styrofoam peanuts to the inner basket, and others question the addition of crushed cellophane.
What fills your inner basket, one of the items mentioned above or another material?
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