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HOW TO START A GIFT HAMPER BUSINESS IN NIGERIA

September 30, 2021by ServoNG0

HOW TO START A GIFT HAMPER BUSINESS IN NIGERIA

A gift hamper business is actually one of the popular businesses in the country, though it’s really not as popular as it used to be despite the demand still available for the products from the business. A hamper usually contains a number of items which can then be given or distributed to individuals especially when there is an occasion or to celebrate or mark an event. It has been a good way of gifting friends and family over the years. It’s a lucrative business and one that is not really practiced as of today. It’s a good business option and one that individuals can try out to make some money.

The gift hamper business, like I’ve mentioned, is just simply a business that provides an option for individuals to get their hampers which can serve as gifts to individuals during a particular occasion. It involves getting all the items that would normally be available in the gift basket and packaging all together in a nice way and putting it out for sale for customers interested in getting the gifts. It’s not a new business and it has been in practice for a really long time. Demand is still active and growing as celebrations are always coming up and the gift baskets always serve as a good option to send out gifts or presents. .

There are different occasions and events always coming up every year and all these occasions or events have suitable gifts that would be nice to present to people. Celebrations like New year, Christmas, Easter, Birthday and many more like that are some of the different category that can serve and be used for the business. All these celebrations have their own respective gifts that would be appropriate or rather suitable for them and that is what is always gifted to individuals who will be receiving them. Hampers also come in different sizes depending on customer’s request.

The demand for the product is one of the main reasons why it will be a good option for individuals who want to start a business. Like I’ve mentioned, the demand is still quite high especially as celebrations are well spread across the year and you’ll definitely be able to get customers at least for one of the events and make your money. Also, the fact that hampers are mostly distributed for occasions, celebrations or events and that some of these events come up regularly makes it a good option for individuals. The good demand means you’ll be able to get customers and also make your profits.

The business is also pretty simple to start as it doesn’t really require too much things in starting up. It also comes with an option of either having a shop for it or running the business online. The shop based business definitely involves even much more capital than the online one. The online form doesn’t require it at all as everything will be done online regarding the business. With the one having location too, there’s also an option of taking orders online to further increase sales. The size to be selected for the business will be a major deciding factor for the amount of capital required to start up the business.

You also don’t neccesarily need any form of training or special skills to be able to run the business. It’s a pretty simple business and all you might only need to understand is how the business works and the contents to be in an hamper for a specific kind of celebration. No educational qualifications or prior experience is also needed though if any of it, including the learning about it is done, then it will certainly be a plus for the business. It can simply be operated by any one.

Starting the business is not a difficult thing to do as long as you understand the business and you can also get the products needed to go about the business. Like I’ve mentioned, it has a good demand and that always translates to a good income, making the business a nice option for entrepreneurs. It can also be started without any training or special skill though you can check through how to package gifts and the type of gifts to also be there. It doesn’t require too much and is certainly a good business idea. With the business also not being practiced by many, you don’t have to worry much about competitors.

In the next sub heads, I’ll be discussing the steps involved in starting up a gift hamper business in Nigeria and some of the important things that might prove useful during the course of running the business and to also ensure that you’re able to get customers, make your profits and be successful at the business you’re starting.

1. RESEARCH

No matter what you’ve heard someone saying about a business and how well success is assured or how lucrative it would turn out, always try to do your own research. The research will not cost anything except your time and that time will prove to be well spent when the business starts and the successes starts coming in. It is important to do a thorough investigation about the business since you’re going to be investing your money into it and you’ve never been involved in the business. Some hours of research won’t hurt.

The research is always meant to give you an idea of what to expect and the challenges ahead to be faced. It teaches future entrepreneur how the business works and what success means. It shows the risks involved and the ways to tackle them. It also gives ideas on how to sustain the business and work towards more success. Imagine missing out on any of the mentioned points, it’s more like being less equipped about something especially something you plan to spend money on.

There are experts in the business, of course, so also look to advise from these individuals as they are most likely the best bet for reliable information on the business. Take note of even the smallest things during the research period and pay close attention to how to stay and survive in the business. The research is as important as anything in the business.

2. WRITE A BUSINESS PLAN

A business plan needs no introduction. It is equally as important as some of the other processes or things involved in the business. After a comprehensive and thorough research has been conducted, entrepreneurs must now put all their ideas into paper after, of course, deciding to start the business. The business plan will cover things like the way you plan to operate, the cost of several things, how you plan to market your business, future projections and also contingency plans.

The business plan serves a number of purposes. In cases where individuals might need to get investors or even get a loan, it will prove useful as it will contain all that needs to be known concerning the business. It is also going to serve as a point of reference for the proposed business.

3. SELECT NICHE AND CAPACITY

Like I’ve mentioned, there are different occasions and events every year and all have their respective contents that should be gifted to individuals. There’s also a simple gift hamper which is just a regular one and can be gifted just normally or on some occasions. The capacity of the business is also something to be decided. You can either set up a shop where it will be sold or go about your business online.

4. CAPITAL AND GETTING THE PRODUCTS

As always, capital is very important to the start of any business. It is what will be used to get all the things needed for the business including the location if you’ll be getting one. Ensure you get a nice place located in an area with large turnout of people. Another thing capital will be used for is registering the business. You’ll also need to get the packaged hamper ready for display for customers and if you’ll also be doing a special one for customers, you’ll also use part of your capital to get the products making up the content. You can get a supplier for the things needed. If you’ll also be taking orders online, you’ll need to get a logistics company or a dispatch rider.

5. MARKETING AND SALE

If the business is online, you’ll definitely need a social media presence for your business. Create social media accounts for your business and advertise through the platforms. It’s also a good strategy for the location based business too though you can also display banners or have flyers distributed in the area where your business is located. Word of mouth and referrals are also quite effective for advertising.


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