Where’s the free money to start a gift basket business?
Is there such a thing, or do you have to get money the old-fashioned way – through savings, mortgaging your home, or borrowing from family members and friends?
A gift basket business is a for-profit venture that takes money to start. The money buys the foods, gifts, and supplies needed to make gift baskets.
It also buys all of the administrative equipment necessary to set up your workspace. These items (if you don’t have it already) include:
- Computer and printer
- Separate telephone line
- Work table and storage items
- Office desk and chair
- Office supplies
The costs seem to skyrocket quickly, and you can bet there’s always something else to buy. That brings us back to the question about grants and other types of free money. Does it exist?
I did some research to learn if grant monies are available. I visited a New York-based grant center and spent two hours searching through their grant directories which is available at similar grant centers worldwide. If free money exists for a gift basket business, I knew it would be listed in these resources.
I found two grants that individuals can apply for (normally only non-profit organizations can get grants) and wrote to both of them for details. Nothing arrived by mail in the following two months. I wrote again. Still, no answer. If you’re wondering why I didn’t call or email the grant providers, it’s because neither telephone numbers nor email addresses were listed with the entries.
Do you still think there’s money out there? Your wishful thinking may be on track, but keep in mind that if you find a source, no grant organization will drop free money into your lap without expecting some type of accountability. Before receiving funding you will have to submit a business plan, financial projections, or whatever else the institution requests. Wouldn’t you expect some type of proof about a business if you were going to give someone money?
I do know of one woman who applied for grant money for her gift basket business. She found a source after I wrote an article similar to this one. The woman was granted $3,000 and sent me details about her winnings. Unfortunately, I didn’t keep the email, but since I was aware of the grant organization, I knew that her award was genuine.
In 1999, another gift basket designer became the first entrepreneurial award winner of a contest sponsored by American Express Small Business Services and the Women’s National Basketball Association. Out of 200 submissions, she won a laptop computer and $10,000. Her award proves that your funding chances are possible.
Grant money is available, but you must be persistent to find it and realize that money isn’t always labeled as a “grant.” A multi-page article on the GiftBasketBusiness.com site entitled, Where to Find Money, will lead you to potential sources that fund your gift basket business.
If you are truly passionate about gift baskets, you’ll follow leads to find funding. If not, you can always attempt traditional methods mentioned above. Make a decision; your bright future is waiting.