A Business Plan Outline for a Gift Basket Business (Part 9)

VIII. Conclusion & Final Suggestions:

Once you've struggled through the process of completing your gift basket Business Plan (and there is no doubt, it definitely is a struggle for anyone who does it!), you're well on your way to either launching a successful gift basket company or are poised to significantly expand your business.  Like many other things in life, the hardest part is doing it the first time. Once it is done, it is much easier to maintain and periodically update!

A. When You've Finished Your Plan:

It's very important that your gift basket Business Plan looks "professional", but the potential lender or investor needs to be certain know that you have actually worked through (and fully comprehend) all of the issues discussed.  Your gift basket Business Plan will be the best indicator that a reasonable, neutral observer can use to judge your potential for success. Bear in mind the following:

• Your gift basket Business Plan should be no more than 30 to 40 pages in length, excluding supporting documents.

• If you are seeking financing from a lender or investor, you should include only those supporting documents that will be of immediate interest to the person examining your plan.

• Keep the others with your own copy where they will be available on short notice.

• Have your plan neatly bound at your local print shop.

• Make copies for each lender or investor you wish to approach. Do not give out too  many copies at once, and keep track of each copy.

• If your request for financing is declined, be certain sure to retrieve your Business Plan, as it is obviously a highly confidential document.

B. Keep Your Plan Up-to-Date:

Your gift basket Business Plan will be of maximum benefit to you only if you update it frequently to reflect what is happening within your business.  Be sure that you measure your projections against what actually happens in your company and use the results to analyze your operational effectiveness.  At hat point, you will be able to implement the appropriate changes that will give you a competitive edge and make your gift basket business more profitable.

Phyllis and Greg Sprout began their company, epicureanfoods.com, in July 1993.  They specialize in supplying hard-to-find gourmet foods and gift basket supplies to gourmet shops, gift shops and gift basket companies across North America. 

They have helped the founders of literally thousands of gift, gourmet food and gift basket companies start and grow their businesses.  Many of these companies remain excellent customers of epicureanfoods.com today.  They can be reached at phyllisandgreg@epicureanfoods.com.