Is the joy of having a home gift basket business greater than the pleasure that comes from operating a gift basket business in a store? I have been on both sides of the fence and can therefore give advice and first-hand views on this debate. Whether you want to start a basket business from home or are considering owning a store, read the following pros and cons to help you make your final decision.
Advantages of having a home gift basket business:
-You will work long hours during the holidays, but at least you will be able to 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 schedule and work at your own pace. You can go out to pick up your son from school or to go to your daughter’s presentation at 2 on a Tuesday.
-You can work in 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 become overwhelmed with baskets, produce, 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 a store gift basket business:
-If you are sociable and love meeting new people, a storefront business will introduce you to many new people.
-If you like being a boss and having a team of people working for you, a storefront business will be perfect for you.
-If you love to create displays and beautify 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 desire.
Disadvantages of having a storefront basket business:
-You will work long 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 soliciting donations will occupy much of your time.
-Sometimes you won’t have time to do the actual work of making the baskets due to time-consuming customers asking for a specific shade of ribbon in their gift delivery.
-You won’t be able to personally pick up and go get fruit for the basket you need to deliver this afternoon unless you have someone running the store.
-You will need to work within acceptable store hours every day of the year, except holidays and perhaps Sundays.
-Owning a store basket business costs more than a home basket business because you need to maintain acceptable inventory, you need employees, and you have to pay rent and utilities.
