Every year, the gift wrapping service soars during festive seasons and gifts businesses make huge side incomes by simply opening their gift wrapping service!
When you’re selling gifts at your gift shop, you could offer your customer to wrap their gift for a small fee.
This small fee amounts into huge numbers when you’ve done this to hundreds of customers, and those customers will surely take advantage of your in-house wrapping service!
Everyone likes a one-stop destination.
What’s more? It’s cheap!
Gift wrapping paper comes at the price of peanuts, and you could literally charge a 200% margin on it, and it would still appear pretty cheap to your customer for wrapping their gift!
What does that mean? The Gift wrapping service is super-low investment, great return on investment, and a key to customer satisfaction!
Moreover, it requires barely any skill set. Therefore, if you’re already running a gift shop, all you need to do is purchase some gift paper. You’re all set!
Of course, it’s not that simple. But it’s not so hard either! Welcome to Kaivalya.me. Let’s see how to start a gift wrapping service in 2020!
How To Start A Gift Wrapping Service in 2020
Develop A Brief Business Model
I’m not asking you to make a detailed 100 page document which describes your business. Afterall, you’re already running a gifts business.
This brief business model will center around how you will integrate the gift wrapping service into your gift shop.
Outline a couple of ways in which you can structure your gift wrapping business in the center of your gift shop.
Would you hire a new worker for wrapping gifts? Would you want to set up a special stall in your gift shop for wrapping gifts? Answer these questions and many others which you might think of.
The aim of this step is to get the idea clear in your head. By the end of this, you should know exactly what you’re going to do and how you’re going to do! Wrap it up!
Refine Your Skills
If you’re running a gifts business, you and your staff are already probably aware of gift wrapping techniques.
Buy some wrapping paper and conduct drills with your staff. Ensure your staff, especially the one you’re going to appoint for wrapping gifts (and that may be the entire staff!) is able to wrap gifts quickly and efficiently.
A key point in refining your skills is ensuring that the wrapping paper is wasted as less as possible. Try to save on your resources, it’ll save money in the long run. And on the way, you’ll get just that little more eco-friendly!
If you don’t know how to wrap gifts just yet, don’t worry! Here’s a great way to wrap gifts quickly and efficiently:
Your Niche And Gift Wrapping Service
Your gift shop will have a target audience or a focus on which you build your outlook, inventory, customer base, and marketing techniques.
Ensure that your gift wrapping service falls well within this niche of your gifts business. A business gift shop won’t do great with teddy bear wrapping!
But if your gifts business doesn’t have a niche, you’re in trouble!
Most gifts business owners don’t take niches importantly. Don’t fall into that flock! You want to stand out.
If you disagree, think of this: pick any successful company from the top of your head. Any one. Now recall how they started off. Amazon sold only books for a decade, Microsoft solely made operating systems for quarter of a century, Hamleys sold just dolls for 5 years.
You see, if you pick a fine niche and build your business on top of that, you’ll have a much better marketing strategy, customer satisfaction, clarity of goal, and countless other advantages.
And don’t think it’s too late! Leverage our experience of more than five years in the gifts business, book your spot in Kaivalya.me’s Free Audit And Consultation service now!
Getting The Pricing Right
Pricing right is very important! You’ve got to satisfy your pocket and the customer’s bargaining instinct at the same time.
You could set a fixed rate or could go by the size of the packaging. Many gift shops generally take the double of what it costs plus the taxes. That way, for each wrapping, you could wrap two more! It’s simple and exponential.
However, if you’ve got some great sourcing and partners, you might be getting the material at a cheaper cost than others, in which case you could consider giving yourself a higher margin.
But don’t be too great!
Speaking of finding sourcing and partners, this segways perfect into the next pointer:
Sourcing And Partnering
Sourcing right could help you buy in bulk and save a lot of money and time. You could either directly buy from a manufacturer or go through wholesales. Either way, your aim should be to buy more in less.
This would allow you to significantly increase your profit margin and bring you that much closer to the revenue you could only dream of!
Sourcing aside, you might consider partnering with another gift wrapping service. On a commission basis or fixed payment, you could hire another gift wrapping service to wrap gifts at your store!
This will save you the process of buying material and training your staff. However, it is most likely that your margin will be much less through this method. Weigh your options and deice what’s the right choice for you!
In case you need help finding the right sourcing agencies or partners (which most gift businesses do), we’re offering a hand! Consider our Free Audit And Consultation service now!
Promotion
Through the jungle, and onto the road! You’ve set up everything, you’ve got the material, the pricing, the everything!
What’s left? Telling people you’re here!
Consider adding a punchy tag on your gift shop board, “Gift Wrapping Service Now Available” or something on those lines. If you have an online gift shop, get the SEO right and update your description with the gift wrapping service in it!
Consider paid promotions such as Google Ads, Microsoft Ads, Facebook Ads, among others. You could also follow the traditional marketing practices by printing ads of paper and distributing them.
Read this post from WikiHow to learn how you could advertise for free.
Conclusion
Et voila! You’re now a successful gift wrapping service ready to make some great side-income!
Keep your customers happy and your revenue high! All by adding the low investment high ROI Gift Wrapping Service to your gifts business! That’s all it takes!
Nevertheless, in case you’re the expansionist gifts business owner, this won’t be enough for you.
You might want your gifts business brand image on the wrapping paper, you might want to start your own line of wrapping papers, among millions of other possibilities.
And we could help! In January 2020, one of our clients made $52,799.53 in sales! We help gift shop owners study their market, refine their business model, suggest to them what to do, what not to do, and how to do.
But don’t use our services!
Don’t leverage on our years of experience with a multitude of gifts businesses unless you’re an expansionist gift shop owner. Don’t use our services if you’re happy with what you’re doing and don’t expect more.
But just in case you’re not that type of a business owner, just in case you’re in the top 10% of the gifts industry, get our Free Audit and Consultation service right now, and see revenues you could only dream of come to life!