People have different interests and tastes, some like sticking to their desk job, while others have the thrill to innovate through their creativity. Every person has an artist in themselves; only a few are wise enough to recognize it. Some people are fond of painting, calligraphy, origami while others like decorating and presenting gifts.
Do stationery, ribbons, and wrapping gifts under the Christmas tree get you excited? If yes, then you have found an impeccable business idea. You can start your own gift-wrapping business, spending all day playing with papers and ribbons while decorating gifts. After all, there is nothing better than opening a business you are passionate about.
Are you wondering how? Look below for ways how you can start your own gift-wrapping business.
Pick a Name
Are you wondering what to name your gift-wrapping shop? Well, this is quite tricky because everyone wants to pick a classy yet simple name. Something that tells about your business in a couple of words. Also, don’t forget to choose a tagline to deliver your brand message. It has to be short and precise. For some ideas, search on websites, or you can use another language to name it.
Honestly, light up your creative soul and think about it. Besides, refrain from labeling it after anyone’s name, for instance, John’s gift-wrapping shop’. It doesn’t appeal to the audience at all, nor it looks nice. Once you have chosen the name, start searching through different fonts for your display board of the shop.
Get Your License
It doesn’t matter how big or small of a business you are opening; you need to get all the permits and licenses for it. These forms are also available online; you need to give some personal and business details. It would ask your name, occupation, the nature of the business, the source of funding, the owners of the business, etc. You would have to submit your identity card too. Once you have applied, it would take a few days for approval, and then, you are good to go with your new venture!
Select Your Target Market
It is imperative to establish an audience. You can either accommodate individual customers or target corporate clients if you need orders in bulk. Usually, in new years and Christmas. companies present gifts to their employees. What could be better than bagging such contracts? Similarly, determine the income and age groups you would be targeting. It would be very exciting to pack a gift with baby gift wrapping paper for a mother-to-be, and a gift with red wrapping paper for valentine’s day.
Create a Plan
Everyone has a rough idea of how they want to operate their business, but it is time to make it real. Start thinking about how many employees you need, the working hours and days. In the beginning, don’t make the mistake of hiring a team of 10 or 12 employees. Check the space of the store, if it is not spacious, then just hire 2 to 3 employees.
Don’t mind teaching them the expert tips and tricks of wrapping gifts perfectly, to lend a hand in rush hours. Besides, you can always prepare yourself by hiring more employees during the festive seasons. Also, plan ahead whether you would introduce hope delivery or set up stalls in the malls.
Come up Something Unique
Do you know what the unique selling proposition is? It is something that sets you apart from your competitors. There are already people with well-established gift shops and wrapping businesses. You have to come up with something that makes everyone’s eyes turn at you. So, consider introducing eco-friendly packaging or custom-made designs. These unique tactics appeal to the customers, helping you make your way in the market. If possible, then later, you can also start with home delivery.
Determine Costs & Budget
Even though you have been pinching pennies for opening a business, it is essential to see how much capital is needed. Firstly, decide whether you want to rent out a shop or buy your own, the cost would vary depending on the location. After all, locations with high traffic always cost more. Secondly, choose a supplier to get you supplies.
Preferably, you can order in bulk to get the best prices. After this, see how much money is left to cough up on furniture and marketing. You would need a table, some shelves, and a wrapping station. Grab a notebook and pen down all the costs to see whether your savings are giving a green signal or not. If not, then don’t hesitate to borrow some bucks, either from bank or friends and family members.
Many businesses opt for predatory pricing to make their way into the market, but unfortunately, it decreases brand worth. Instead of going after low prices, offer value to customers. Therefore, set prices considering your target audience and the size of gifts. The price of wrapping should depend on the wrapping sheet and ribbons used. After all, quality always comes with a price.
Don’t forget to see what your competitors are up to and the prices they are charging. Besides, you can offer some introductory offers to give your business a boost. For instance, ‘$50 for wrapping three large gifts’ or ‘Free ribbon wrapping on $50 or above’. These offers tend to attract people, helping you make customers quickly.
Do you think there is any point in running a business if people don’t know about it? Thus, creating brand awareness is very crucial for your success and growth. You can do this by sticking posters at every corner on the street, but you have to work differently if you wish to promote social responsibility. Hence, consider enjoying the essence of technology.
Digital marketing is one of the greatest ways to reach out to customers without spending heaps of money. So, even before opening your store, start with your social media profiles, create some hype before the reveal. Gradually, people would start following your page. Create an event to invite everyone to the opening of your shop. Besides, keep your inbox open to entertain queries, while don’t forget to post the gifts you wrapped on your social profiles.
It is very exciting to run your own business. Many people have dreamt of it. The best you can do is pursue your interests. So, if you like being creative and wrapping gifts, consider it as a business opportunity. You might be sceptical about how everything would work. Look above to see how you can start your gift-wrapping business.