How to Start Custom Corporate Gifts Business
Corporate gifts are a tasteful way for businesses to send messages of thanks, and appreciation to employees, clients and partners. While many make their own gifts, others also turn to the pros to do it.
You can be that pro, churning ideas into innovative, creative and original gifts for companies. Learn the basics on how you can start this business.
Corporate or executive gifts have become a common way for businesses to promote good relations with employees and other establishments they do business with. Executive gifts carry many messages. It can tell a valued employee who has achieved something great for a business to keep up the good work. It can tell employees who worked hard on a difficult project to keep going. It can tell vendors and suppliers we appreciate your contribution to the business. It can tell prospective clients we will be happy to establish a business relationship with you. It can impart good cheers to holidays.
Some businesses chose to buy, embellish and wrap their gifts. But some that has the money to spend to have their executive gifts done, choose to let the professionals do it. If you are creative and enterprising and you live in a big busy city where there is a market for custom corporate gifts, this is one business you can start.
- One of the first things you should think about is the type of corporate gifts you want to carry. This business is basically a printing business. And there are many things you could do under this category. You could print on fabrics like t-shirts, and bags; embroider on towels, and caps; engrave on glass key holders, electronic gadgets and pens; decorate mugs and glasses.
- Another is location. Your shop should be somewhere where many executives and professionals nub-hub. It could be a shop or stand near a corporate area or mall.
- Funding is another thing to seriously consider. You’d need a few month’s operating capital and rent plus money to spend on initial inventory (sample items), printing tools and equipment, and fixtures like shelves and hooks. To be thoroughly prepared for the financial aspect of this business, you should put down in detail every item you should need to spend money on. How much you will spend will depend on the type of printing you will do because it will dictate the equipment you will use.
- Marketing Strategy. Before opening your shop, you should have already done your marketing to prospective clients. Your clients in this business are a select class. They are the few people within the company who are usually entrusted with the task of finding corporate gifts. As part of your marketing plan, you could visit offices and distribute fliers to these key people.
The other tasks you need to do concern the technicalities of starting a business like getting a license.
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