Gift Basket Executive Summary

Executive Summary

Our mission is to provide high quality personalized gift baskets with 100% customer satisfaction. Our company will attain 100% customer satisfaction through on time delivery of the customer orders and offering high quality items at a reasonable price. We want to provide, unique, affordable, customized gift baskets for families, friends, and anyone who desires gift baskets in the United States.

The Gift Basket Company is composed of a team that is dedicated to the customer. We will develop baskets for special occasions and major holidays. The Gift Basket Company will outperform that competition by putting great gifts in our baskets and by making the baskets affordable. The target market for The Gift Basket Company is the elite who is interested in purchasing gift baskets in all areas of the US. Our marketing strategy consists of flyers, business cards, word-of-mouth, posters, postings, and marketing partners. We plan on developing the business during the next year, with hopes of selling our first baskets by Summer 2007. We are launching this business because we believe that gift baskets meet an unfulfilled need in the marketplace. According to our market research, many people are frustrated by the lack of quality, affordable customized gifts and end up settling on generic gifts. The Gift Basket Company offers these people an alternative, providing them memorable and magical gift baskets.

Our start up costs for the first three months are $21,000. We estimate that in the first year of operation, we will achieve revenues of $134,000, ramping up 30% in the next two years. Our projections for the sale of our baskets have very healthy margins at 35% gross margins. We need to sell 3 baskets in order to break even in the first month. Our total revenue for the year is $134,000.

Our competitive advantage is that our gift baskets will be offered at a relatively affordable price, while maintaining quality customers will enjoy. We are also familiar with our target market and believe our baskets can cater effectively to our targets needs and desires. Being a part of a larger peer group gives us an advantage in understanding their purchasing habits.

Our key goals are to provide quality baskets to our customers and follow our execution time line for developing our business. By mid-year 2008, we want to sell many baskets. Additionally,