“Earn $100,000 a Year from Home – Part Time!” read the subtitle of a recent gift basket seminar.
The text made it sound so tempting, so easy, but is it possible to pocket that kind of cash? What type of commitment does it take to earn it?
True or False: I can make $100,000 in one year making gift baskets.
Answer: True. Let’s calculate it.
$100,000/year = $1,923.07/week.
To collect $100,000 in one year, you must sell a total of $1,923.07 (retail price) in gift baskets every week. The following examples reveal what you must earn in sales working 5, 6 or 7 days a week.
$384.61/daily in 5 days,
$320.51/daily in 6 days, or
$274.72/daily in 7 days.
I’ve calculated a 7-day option, but working seven days is tough. Entrepreneurs sacrifice a lot to get what they want, but consider how burned out or disillusioned you become if there’s no down time in your schedule.
Do gift basket designers fulfill enough sales each day to reach this goal? The answer is yes. Understand that when you start your business, sales totally these examples don’t appear overnight. Consider the number of possible sales through people and groups in your circle of friends and associates:
- Physicians, dentists, veterinarians
- Dentists, accountants, social and professional organizations
- Small businesses owners, co-workers at your full-time job
These are just a few of your potential clients.
Make a list of the best candidates to buy your baskets. Encourage their orders for upcoming occasion they mention to you through casual conversation. Other methods include flyers, postcards, and by email (if potential buyers are on your contact list). Telling people about your gift baskets won’t get sales. You must keep in touch every month while adding more prospects to your list and contacting them as well.
True or False: If I accomplish this goal, I will walk away with $100,000 in my pocket.
That $100,000 figure represents gross sales (monies collected before deducting business expenses). The amount you keep (known as net sales) is the available funds (known as profit) after deducting expenses for operating your business. Those expenses include:
- Buying merchandise and supplies
- Traveling to deliver orders
- Education (books, DVDs, etc.)
It’s not uncommon, in the first year of business, to spend more than you make. The amount you keep depends mostly on how much you invest in making gift baskets. If this is a hobby, you might not invest in a lot of inventory (merchandise), a computer, or the education needed to become a professional gift basket designer. Sporadic gift basket makers buy only what’s necessary for a specific order, while full-fledged designers buy much more as a long-term investment.
Yes, it is possible to make $100,000 or more in one year, which is what many designers who graduate from the gift basket VIP programs have accomplished. You must dedicate the time, funds, and determination necessary to earn it.