Gift Baskets, The Perfect Home-Based Business

Starting your own home based business carries with it lots of pros and cons. Some people are just not meant for the risk and social isolation that often comes with a home-based business. Others, moms with young children or those looking for a second income, may find it the perfect set up. For those looking to take advantage of the benefits, few businesses can compare with gift baskets.

Gift baskets is now a billion dollar business. Thousands have made a good income from their creativity and drive. Corporate marketing departments often look for things to provide customers on special occasions. Everyone is looking for that unique item that will please a friend or family member.

But what do you need to get started? First, as with all things, a little knowledge is required.

Gift baskets are small containers full of, as the name suggests, gifts. They can be anything that will fit: food, wine, bath accessories, jewelry, teddy bears.... The list is endless. But like any business, there are a few things to consider before taking the plunge.

The gift basket business depends very heavily on individual creativity. Lots of people are bursting with that touch of artistic genius. Some struggle in vain to come up with new and interesting ideas. Most people are somewhere in between. Since, unless you start with a partner, you probably won''t be in a position to hire help at first, make sure you have the creative ability to produce desirable products.

But having a home-based business that specializes in gift baskets requires more than artistic flair. It demands some hard-headed practical skills as well. Marketing is one of the key abilities that often makes the difference between success and failure. You can have the best product in the world, but if no one knows about it then it will just sit on the shelf.

Some accounting skills are helpful, but most software these days is relatively inexpensive and very easy to use. Still, having the discipline to use it is important. You have to track inventory, costs, expenses, and - hopefully - sales. It''s a little more complicated than just balancing a checkbook, which is a challenge for some. If you can get any help you might need, great.

Some computer skills can be a business-saver these days. Most of the marketing and advertising you do will be on the Internet. Some locally distributed flyers, word of mouth around town, even radio spots can help. But, for most, doing business over the Internet will be the dominant mode, at least at first. Make sure you have or can afford to hire the skills needed to create and maintain a good website.

Finally be prepared to spend some time researching your competitors. You''ll need to price your gift baskets appropriately when someone else is offering something similar. Even if you have truly unique items they may not sell if your intended audience perceives them as overpriced.