Business Idea

Become A Basket Weaver

About

Becoming a basket weaver requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell basket, or selling basket online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$648B
starting costs
$14.5K
gross margin
65%
time to build
7 months

About

Becoming a basket weaver requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell basket, or selling basket online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$648B
starting costs
$14.5K

 

gross margin
65%
time to build
7 months

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $0 $7,000
Equipment & Supply Expenses $66 $700
Inventory Expenses $50 $9,750
Software Expenses $12 $575
Advertising & Marketing Costs $0 $3,000
Website Costs $13 $215
Specific Industry Expenses $0 $500
Total Startup Costs $141 $21,740

Successful Businesses

Business URL Rank
Weaver Leather Supply weaverleathersupply.com #59,280
Weaver Leather weaverleather.com #156,706
Weaver weaver.com #588,790
KAZI kazigoods.com #653,373
Jane Stafford Textiles janestaffordtextiles.com #830,191
Frank Supply franksupply.com #1,176,186
New York City Gift Baskets newyorkcitybaskets.com #1,381,223
Fair Trade African Baskets and Gifts from Baskets of Africa : Zulu Ilala Palm Baskets, Swazi Sisal Baskets, Zulu Wire Baskets, Ghana Bolga Market Baskets basketsofafrica.com #1,719,185
Loop of the Loom loopoftheloom.com #2,248,475
Suzanne Moore's NC Basket Works, Inc. ncbasketworks.com #2,457,442
Basket Weaving basketweaving.com #2,811,617

Pros & Cons

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Ability to start your business from home It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
Rewarding work Starting a basket weaver can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.
Scalable With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.
Meaningful business connections You never know who you will meet as a basket weaver. This could be the start of an incredible business opportunity!
Quick build time The average time it takes to build your product is quick - typically around 7 months. This will allow you to bring your product to market faster.
Cons Description
Crowded Space Competition is high when it comes to your basket weaver, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.
Low margins The gross margins for your basket weaver are typically around 65%, which can make it more challenging to incur new expenses and maintain profitability.
Work can be inconsistent As a basket weaver, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have.
Lack of benefits With a basket weaver, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.
Taxes As a basket weaver, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.
No safety net Typically, as a basket weaver, you do not receive a consistent pay-check and instead earn money based on your transactions each month. During the slow periods, you typically take away less since the job is based on commission. It's important to budget accordingly for the slow times.

Marketing Ideas

  • 1

    Word of mouth

    Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.

    Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.

    According to Nielsen, 92% of people trust recommendations from friends and family.

    Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.

  • 2

    Social Media Advertising

    Social media advertising is the use of social media platforms to connect with your audience with the objective to build your brand, increase sales, and drive website traffic.

    According to Oberlo, approximately 48% of the global population use social media, and the number is ever-growing.

    Therefore, social media allows brands access to cost-effective advertising by enabling them to interact with a large audience.

  • 3

    Pay Per Click Advertising

    Pay-per-click (PPC) is a performance-based marketing method that allows you to show specific ads for services or products oriented to a very defined target, with the goal that the user visits your website or landing page.