How to Price Gift Baskets for Business

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How to Price Gift Baskets for Business

Posted On : Jul-17-2011 | seen (707) times | Article Word Count : 564 |

Successful gift basket businesses have found the secret to combining marketable baskets with a good profit margin.

Successful gift basket businesses have found the secret to combining marketable baskets with a good profit margin. Knowing how to price your baskets correctly is important. Pricing too low will get your baskets moving, but you will lose profits. Assigning too high a price could result in sluggish or no sales. Combine several key factors to get the appropriate price.

Research other gift basket stores to get a feel for current rates. If you operate a brick and mortar store, than visit the shops in your neighborhood. Take notes on the baskets similar to yours. Alternatively, if you sell your baskets online, prowl through online stores for good cost assessments. Set your price comparable to your competition.

Figure your supply cost. Examine your gift basket, writing a list of all its contents. Look up the cost of each item and write it out to the side of the item. Verify this information by consulting your invoices. Add these figures together. Include the cost of the basket, filler and cellophane.

Figure your overhead cost. Include utilities, equipment and office costs. Divide the total overhead cost by the number of hours you work. Add this figure to the supply cost.

Count the hours it took you to create the gift basket. This includes designing, filling and wrapping the gift. Multiply the hours against your hourly rate. Add this to the combined supply and overhead costs.

Assign your basket a price equal to the combined costs of the supply, overhead and hourly cost. Compare the amount you have calculated with the competition prices you collected. If the competition's price is higher, than adjust your price upward but keep it slightly below the competition. If your price is higher, than consider subtracting items from your basket to offset the difference. Write the final price on a price tag and attach to the basket.

wickerchina.com/news-1658/How_to_Price_Gift_Baskets_for_Business?
Wholesale gift basket on wickerchina, what a wonderful site this is if you’re looking for a special and unique gift for someone, is hot deals today. They have gifts for new babies, corporations, birthdays, gourmet hampers, secretaries day, Valentine’s Day, Mother’s Day, Father’s Day, Independence Day, Easter, Christmas gift baskets, and Christmas hampers. If you live in America, why not shop in Wickerchina.com? There are China’s premier gift basket, gift, and hamper network and there are whosalers and suppliers, most of whom are basket manufacturers and exporters as well from Bobai of Guangxi and Shenzhen of Guangdong.

Gift Basket suppliers are chosen for the quality of their products and for their customer service abilities. Their specialty is corporate gifts and they do have a wonderful range of those types. All of their gifts, gourmet hampers and gift baskets are packed with the utmost care, and if they are lost or damaged they will be replaced free of charge. Gift baskets are terrific idea because they offer a variety of products and gifts for your special person. Because these are such high-quality hampers and gift baskets, it’s doubtful that any two will be quite alike.

We hoped you enjoyed this site. As wholesale gift baskets are hot deals gradually, promotion of basket is taken into the wholesalers’ consideration. To learn more about gift basket promotion, please click "Gift Basket Promotion!" at first, and then you can make an inquiry on wickerchina.com. Good luck !

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<h1>How to Price Gift Baskets for Business</h1> Author: <a href='http://www.articleseen.com/profile_nadia.aspx'>nadia</a> Successful gift basket businesses have found the secret to combining marketable baskets with a good profit margin. Knowing how to price your baskets correctly is important. Pricing too low will get your baskets moving, but you will lose profits. Assigning too high a price could result in sluggish or no sales. Combine several key factors to get the appropriate price.

Research other gift basket stores to get a feel for current rates. If you operate a brick and mortar store, than visit the shops in your neighborhood. Take notes on the baskets similar to yours. Alternatively, if you sell your baskets online, prowl through online stores for good cost assessments. Set your price comparable to your competition.

Figure your supply cost. Examine your gift basket, writing a list of all its contents. Look up the cost of each item and write it out to the side of the item. Verify this information by consulting your invoices. Add these figures together. Include the cost of the basket, filler and cellophane.

Figure your overhead cost. Include utilities, equipment and office costs. Divide the total overhead cost by the number of hours you work. Add this figure to the supply cost.

Count the hours it took you to create the gift basket. This includes designing, filling and wrapping the gift. Multiply the hours against your hourly rate. Add this to the combined supply and overhead costs.

Assign your basket a price equal to the combined costs of the supply, overhead and hourly cost. Compare the amount you have calculated with the competition prices you collected. If the competition's price is higher, than adjust your price upward but keep it slightly below the competition. If your price is higher, than consider subtracting items from your basket to offset the difference. Write the final price on a price tag and attach to the basket.

http://www.wickerchina.com/news-1658/How_to_Price_Gift_Baskets_for_Business?
Wholesale gift basket on wickerchina, what a wonderful site this is if you’re looking for a special and unique gift for someone, is hot deals today. They have gifts for new babies, corporations, birthdays, gourmet hampers, secretaries day, Valentine’s Day, Mother’s Day, Father’s Day, Independence Day, Easter, Christmas gift baskets, and Christmas hampers. If you live in America, why not shop in Wickerchina.com? There are China’s premier gift basket, gift, and hamper network and there are whosalers and suppliers, most of whom are basket manufacturers and exporters as well from Bobai of Guangxi and Shenzhen of Guangdong.

Gift Basket suppliers are chosen for the quality of their products and for their customer service abilities. Their specialty is corporate gifts and they do have a wonderful range of those types. All of their gifts, gourmet hampers and gift baskets are packed with the utmost care, and if they are lost or damaged they will be replaced free of charge. Gift baskets are terrific idea because they offer a variety of products and gifts for your special person. Because these are such high-quality hampers and gift baskets, it’s doubtful that any two will be quite alike.

We hoped you enjoyed this site. As wholesale gift baskets are hot deals gradually, promotion of basket is taken into the wholesalers’ consideration. To learn more about gift basket promotion, please click "Gift Basket Promotion!" at first, and then you can make an inquiry  on wickerchina.com. Good luck !

About the Author: As a Chinese, I am very proud to share Chinese wicker crafts culture. There are many touching stories in China weaving life.http://www.wickerchina.com/news-1658/How_to_Price_Gift_Baskets_for_Business? Article Source: <a href='http://www.articleseen.com/Article_How-to-Price-Gift-Baskets-for-Business_66968.aspx'> http://www.articleseen.com/Article_How to Price Gift Baskets for Business_66968.aspx</a>

Article Source : http://www.articleseen.com/Article_How to Price Gift Baskets for Business_66968.aspx

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As a Chinese, I am very proud to share Chinese wicker crafts culture. There are many touching stories in China weaving life.http://www.wickerchina.com/news-1658/How_to_Price_Gift_Baskets_for_Business?

Keywords : gift basket business, gift basket pricing, Gift Baskets,

Category : Business : Home Based Business

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