You need steady income before leaving regular employment, and the first question is can you make $100,000 a year with gift baskets?
Get your calculator
You don’t have to be a math whiz to determine what it takes to earn a six-figure income with gift baskets.
$100,000 divided by 12 months equals $8,333.33.
Each month your revenue must average the above amount. You may make a bit more one month and a bit less another month. The bottom line is that just north of $8,300 in sales will get you there. You can also break down the monthly amount into weekly sales and make that figure your goal.
The aim of earning $100,000 requires exploration before you proceed, as there is a difference between gross and net income. By earning a gross amount of $100,000, expenses will decrease the amount, while net earnings of $100,000 means your expenses have been accounted.
Where the earnings come from
You initially found money to start a gift basket business. Pat yourself on the back for that achievement. Now comes the next phase.
Along with a breakdown of how much sales is required each month, it’s important to also decide which types of earning will reach this number.
Gifts and gift baskets are your major focus, but how else can income arrive? Optional ways include:
- Wrapping and bowmaking services
- Affiliate representation with complementary firms
- Consultations for wedding, event, and similar gatherings
Business owners generally don’t make all of their money from one source. You can and ought to look outside of gifts and gift baskets for other income methods.
The one calculation to perform
In 1999, I wrote an article for a now-retired site entitled, “Can I Really Make $30,000 a Year?” In that article I warned the following which is still true today.
No income will arrive without an abundance of marketing.
Social media is the first step you may consider. However, that one part won’t produce most of the income because not everyone visits that platform. You must expand your thinking and then choose your target marketing wisely, which may be:
- Phone and email marketing
- Free and paid advertising
- Press releases to local news sources
There are multiple options not mentioned here that my designer clients learn about and take action on through consultations. Schedule a call today with me.
Can you make $100,000 a year with gift baskets?
This income goal may, at first, seem insurmountable, especially when viewing the monthly earnings goal. That amount can be reached if you diversify your options. All of the monies may not at first come from gift and basket sales. It may, but it doesn’t have to be concentrated there when there are other money-making opportunities.
The podcast on this topic, How to Make $100,000 in One Year, provides more insight so you reach this income goal. It’s being achieved by thousands of designers, and it can also be accomplished by you.