More and more people are earning a good income by starting their own home based business. The best part of starting your own home business is that there are literally hundreds of different types of businesses for you to try and you will not have to leave home.
Whether you want to start it on a part time basis or as a full time business will depend on your particular circumstances and depend on the income you wish to achieve. If you are creative and have a hobby or want to earn money while the children are at school, and still have time for your family.
Tips for any home business
A home business should still be treated as a business-which does not mean that friends can pop in for coffee at all different hours and disrupt your prospective clientele. They will not want to be faced with screaming children running in and out with sticky fingers as they decide which products they will purchase.
Good time and management skills - is another important part of running a home business. You will have to set aside time to order your stock, bookkeeping, emails and of course if you are going to make your own gift baskets then you need to be organised. You will not want your office to look like a storm has hit it.
Advertising- This is a very important part of any home business. If you can not be found then you will not prosper and have clients. Make your own business cards if you cannot afford to have them professionally made. If made properly these can save you money. Do not cram too much information on them. The client will ring to find out more information.
Place these cards on noticeboards at schools, clubs and sporting facilities. Word of mouth will soon have more clients if you are professional. I have found they flyers and letter box drops are a waste of time and money. An advert in your local paper is cheaper and more time saving.
Other important things to consider
It is important to make a business plan: You have to keep a list of all your expenses incurred in setting up, like stock, phone, wages etc. And another list of all the monies coming in.
You can then work out your profit and loss. In the beginning you may not show a profit as you have to outlay more money to get started.
Keep accurate records
All businesses no matter how big or small need to keep accurate records. Keep all your receipts.
Preparing to start a Gift Basket Business
Before you start advertising you need to purchase a variety of stock, whether you are making them yourself or purchasing them.
Here are a few ideas of different baskets for a variety of occasions:
- New born baby baskets
- Birthday baskets for adults and kids
- Mothers and Fathers day baskets
- Special events Christmas and Easter baskets
- Special Occasion for Anniversaries
You can make baskets for any occasion, use your imagination and find other ideas
Shop around and find the best deals. Buy in bulk if possible as you will need to be competitive. You will not make money if you do not make a profit. In some cases you may find it cheaper to buy stock online than shopping locally.
Stock will depend on the type of baskets you create. Look for specials, you may be able to buy your food or wine products cheaper when on special in supermarkets than you can from a supplier as they get it cheaper because of the quantity they buy. Make sure your stock is not out of date as this will not encourage repeat customers.
Who will you sell to?
In the beginning you can start small then as you grow in confidence increase and improve your clientele list. Start with your friends, word of mouth will bring you repeat customers. Have a stall or sell at markets. The choice is yours .
Create a Web Site
Another way to increase your business is to advertise on the internet. Although you will need to have a secure site for payments. PayPal is the safest way for selling online.
If you are not sure what type of home based business you want to start then check out a few of my other suggestions: