Customized Gift & Souvenir Shops Business Idea: In India, people give gifts on different special occasions. Be it someone’s birthday, wedding, or Holi, Diwali, people give gifts. Apart from this, people also give gifts on some special days. Many times, people give gifts when they meet for the first time. Now it seems as if the tradition of giving gifts has started. In such a situation, you can open Customized Gift & Souvenir Shops.
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What things are given as gifts?
Now, talking about the things given as gifts, people give a lot of things as gifts. Especially, people give gifts according to their income. When the income is less, people give cheap gifts, whereas when there is more income, they give expensive gifts. Some rich people even give Mercedes and BMW cars as gifts. If you want to open a Customized Gift & Souvenir Shop, you can keep toys, scenery, decoration items, photo frames, pens, crafts, and historical or monumental things. That is, the more money you spend, the more you will earn. Slowly, you can increase the range of products.
How to start this business
Before starting a gift business, you will have to do market research. You will have to find out how much money your target customers have. For example, if they are middle class or lower middle class, then you will have to keep cheap items. If they are above middle class, then you can keep expensive items. If you want, you can keep both types of items. Apart from this, you will need wrappers, ribbons, stickers, and bags for gift packing. Gifts look good if packed properly.
You can increase your earnings in this way
You can earn as much profit by doing this business as much creativity you show. You can also gift small plants kept inside the house, including pots. However, you will also have to pay attention to these packings. Nowadays, people also gift these things. You can make the gift in a customized way, so that people get attracted to the gift. You can provide the facility for the delivery of the gift.
This will give you extra income. You can do the delivery in a different way, which will earn good money. Many times people send gifts or cakes for birthdays at midnight. In such a situation, you can earn a good income by delivering at midnight in the night.
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How much will be the cost, and how much profit will there be
To start this business, you will have to bear the expenses of shop rent, electricity bill, if you have hired someone to work then his salary etc. Apart from this, gifts will have to be kept in the shop for sale. To do this business, you have to take care that every gift item can earn a profit of about 40-50 percent. You have to keep watching what kind of gifts or things people buy. Keep many different things in the shop, which people keep in the house for decoration or beautification.