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b. Demographics of the Area

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Determine the demographic profile of the potential customers in the community you are considering. Professionals and business executives will differ greatly in their purchasing interests from a working-class clientele, and urban city dwellers will vary in their interests and needs from potential clients in a suburban setting. Income, education, culture, religion, occupation, and upbringing influence the tastes and buying habits of your potential customers.

Consider the following factors when choosing a community to locate your business:

(a) Purchasing power or degree of disposable income

(b) Building activity and the range of housing

(c) Diversity of business establishments and industry

(d) Number of colleges or universities

(e) Cultural and leisure activities

(f) The age range of the population

A gift basket business is versatile and appealing to a wide range of clients. A gift basket service usually attracts customers who work long hours, have a steady income, and do not have the time to shop or create their own gifts. Generally, your potential clients will be well-educated, make average to high salaries, and be inclined to buy gifts that are creative as well as useful.

When you are satisfied that the community you have chosen can support your new business, it is time to choose a site for your new venture.

Start & Run a Gift Basket Business

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