We all love receiving gifts from friends for occasions such as birthdays, weddings, or festival celebrations like Christmas and Easter. As times change, people's tastes and preferences are changing rapidly, and offering variety is the best way to fulfill customers' expectations.
Therefore, if you are looking for a good business idea, you may consider setting up a gift card shop at a convenient location. A strip mall with high traffic of target customers makes a good choice for a gift card business.
Starting a gift cards selling business requires a great deal of effort, dedication, and most importantly passion.
If you're interested in how to sell gift cards selling, or selling gift cards selling online, you can use this page as a guide for everything you'll need to know.
Want to learn more? You can check out our full guide on how to start a gift cards selling business ➜
|Min Startup Costs||Max Startup Costs|
|Office Space Expenses||$0||$7,000|
|Employee & Freelancer Expenses||$151||$352|
|Business Formation Fees||$600||$5,400|
|Equipment & Supply Expenses||$63||$200|
|Retail Business Expenses||$1,250||$11,650|
|Advertising & Marketing Costs||$75||$4,736|
|Total Startup Costs||$2,874||$54,322|
|Launch Gift Cards||launchgiftcards.com||#30,440|
|Giftly: Online gift cards, printable gift cards, email gift cards, e-gift cards||giftly.com||#85,933|
|Gift Card Store||giftcardstore.com.au||#206,757|
|Disney Gift Card||disneygiftcard.com||#297,039|
|Gift Cards & eGift Cards| Mastercard Gift Cards||mastercardgiftcard.com||#335,589|
Pros & Cons
|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!|
|Meaningful business connections||You never know who you will meet as a gift cards selling business. This could be the start of an incredible business opportunity!|
|High customer retention rates||Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.|
|Control of workload||With starting a gift cards selling business, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you.|
|Gain exposure and experience||This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you!|
|Motivation of employees||If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.|
|Longer Sales Process||A gift cards selling business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.|
|Security Issues||With any Saas business, data loss and security issues may arise throughout your process of building your product. It's critical that you understand exactly what you're responsible for and how to avoid potential issues down the road.|
|Niche Market||A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience.|
|Time commitment||With starting a gift cards selling business, all responsibilities and decisions are in your hands. Although this is not necessarily a negative thing, work life can take over at times. This can place a strain on friends and family and add to the pressure of launching a new business.|
|Difficult to build trust with your customer||With starting a gift cards selling business, there can be minimal face-to-face interaction, which means it can be a lot more difficult to establish trust with your customers. You'll need to go the extra mile with your customer to grab their attention and business.|
Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.
Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.
The affiliate typically gets a unique link where clicks and conversions can be tracked.
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.
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.
Hey! 👋 I'm Pat Walls, the founder of Starter Story.
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