Is the joy of having a home gift basket business greater than the joy of operating a gift basket business in a store? I have been on both sides of the fence and can therefore give first-hand advice and opinions on this debate. Whether you want to start a basket business from home or are considering owning a store, read the following dos and don’ts to help you make your final decision.
Advantages of having a gift basket business at home:
-You will work long hours during the holidays, but at least you can be home for lunch and any other important family occasion or a good television program that you do not want to miss.
-You make your own hours and work at your own pace. You can go out to pick up your son from school or go to your daughter’s presentation at 2 on a Tuesday.
-You can work in your pajamas when assembling slippers
-You can run your own personal errands while shopping for fruits and treats
-You can deduct a portion of your household expenses on your small business income taxes
-You decide how much business you want based on the number of calls or marketing efforts you make
Cons of having a basket business at home:
-Sometimes it will seem like you are always working, especially during the holidays.
-If you don’t have the space in your home or garage to operate your business, your private spaces can be overwhelmed with baskets, products, ribbons, etc.
-You will have constant distractions at home that can prevent you from running your business efficiently.
-Some people may not consider your business to be as legitimate and professional as a storefront business.
Pros of having an in-store gift basket business:
-If you are social and love to meet new people, a storefront business will introduce you to many new people.
-If you like being the boss and having a team of people working for you, a storefront business will be perfect for you.
-If you love creating displays and beautifying areas, a store will give you that opportunity
-If you love to organize products and formal inventories, consider a store.
-If you enjoy the image of owning a store, your store will fulfill that wish.
Disadvantages of having a storefront basket business:
-You will work many hours during the holidays and you will be away from home for long periods of time.
-Marketing salespeople and product salespeople will take up a lot of your time.
-People asking for donations will take up a lot of your time.
-Sometimes you won’t have time to do the actual work of making the baskets because customers are time consuming and ask for a specific shade of ribbon on their gift delivery.
-You will not be able to personally pick up and fetch fruit for the basket you need to deliver this afternoon unless you have someone to take care of the store.
-You will be required to work within acceptable store hours every day of the year, excluding holidays and perhaps Sundays.
-Owning a store-based basket business costs more than a home-based basket business because you need to maintain acceptable inventory, need employees, and have to pay rent and utilities.
