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How to Start Gift Shop Business 1-2-3

Gifts are purchased year round. Although you can purchase gifts online and through catalogs, gift shops are not extinct.

More Ways Gift Shops Can Make Money:

Last-minute gift shopping never seems to go out of style, so local gift shops will always have a market. Some gifts like helium balloons, fresh food items plants need to be purchased in person, so this is another group of customers that shop at gift stores.

However, gift shops still have plenty of local competition. Supermarkets, drug stores, department stores and even coffee shops sell gifts too.

How to Stand Out from Other Gift Sellers:

To compete effectively, gift shops should regularly provide new and unique merchandise that is hard to find in other places. For example, you could feature handmade work of local artists or all-natural or organic products.

Another way to stand out from the crowd and meet your customers' needs is through location. You can lease a storefront in a strip mall or shopping center, but depending on the items you're selling, you may be able to run a very profitable business (with less overhead) selling from a kiosk or renting space within another store.

Partnering to Find Customers:

Since gifts are items that everyone buys, a gift shop can partner with a variety of similar service businesses to increase it's customer base. For example, party or event planners, florists, delivery services, personal shoppers and cake decorators can all be sources of referrals. If a gift store customer needs a cake decorated, the shop can refer them to a local cake decorator with whom they've partnered - and vice versa.

Home Business ExpertGift Shop Business Plan

You can view business plans online from other businesses for free to get an idea of you to write your own, potential start-up costs plus product and marketing ideas.

Gift Shop Business Start-Up Guide If you want step-by-step instructions on launching your start-up, expert Katherine Wellshear leads you through start-up and management of your own gift shop with her "Start Your Own Gift Shop" guide.

You'll know how to develop new customers and accounts, handle bookkeeping and accounting tasks, get necessary licenses and permits, BBB Accredited Businesshow to price your products, how to increase sales with customer loyalty and coupon programs and more.

Basically, she saves you months of time in research and trial and error. Instead, you can start enjoying the income that your business brings in.

Go!Start Your Own Gift Shop

Gift Shop Marketing Ideas

GiftShopMag is an online resource for gift retailers. The site has lots of ideas every month on how you can improve your sales and more effectively manage your business.

Do you offer gift or party services that consumers may not know about? (ie. helium balloons, crafts from local artists, floral arrangements or delivery services). Place ads in your local phone book under multiple categories where shoppers tend to look for these items. Also use local online directories to find gift shoppers searching on the web.

Encourage people who come into your store to give you their email address so that you can let them know about upcoming sales or send them coupons. Most people are happy to do this as long as they can easily unsubscribe, and now you have a way to follow up with them via email.

2014 Home Business Start-up Checklist!

Home Business Start-up ChecklistGet the complete checklist free! Follow step-by-step ...from choosing your niche to bringing in customers.

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