Wedding Favor Business Ideas

During weddings the bride and groom might decide to present small gifts to attendees. This custom is popular in many cultures including African weddings.

Gift giving is not exclusive to the couple and family members. Friends loved ones and associate could decide to share memorabilia’s to guests.

The type of gifts depends on the person’s choice. Common gifts found at such occasions are silverware, plates, cups, umbrellas and handkerchiefs. Others are chocolates, drink openers, biros and kitchen utensils.

The gifts are usually packaged in a small gift bag or nylon. The gifts are screen printed with image of the bride and groom including name and date of union.

The costs range from inexpensive to costly items depending on the givers. Favor business is not only centered on weddings and is practicable during anniversaries, special occasions and AGM meeting.

Other occasions you find small gift items shared are children’s parties, society events and child naming ceremonies. The business is profitable because the different items are usually purchased in bulk.

Another reason is there are lots of weddings daily so you get regular patronage. However there is lots of competition in the favor business.

To start a wedding favor business you need to choose a niche and create unique gift items.  Other important considerations are location, funding, staff, sourcing items and company registration.

You can start a home based favor business or consider a physical location.

Party Favor Items

There are many items considered party favor gifts. Some are plastic bowls, plates, cutlery sets, cups and toys. Children items are balloons, confetti, glow sticks, handkerchiefs, noisemakers and crackers.

A List of some Favor Items

• Confetti
• Glow sticks
• Balloons
• Cutlery
• Glass cups
• Blowouts
• Crackers
• Chocolate
• Noisemakers
• Plastic bowls

Choose a Niche

Favor business is generic however there are many niche sectors. Others are children gift items, corporate events and online gifts store.

Selling wedding products is lucrative because there is a vast array of items that fit the bill. Choose the niche you are most comfortable with and stock your store.

Purchase Items

Purchase items wholesale or from manufacturers in your area. Make an inventory of popular products and create a few sample packages for your customers.

Include printing and branding services to attract more patronage and income. You could charge a small fee to do the packaging for them or sell in bulk.

Start a Gift Basket Business

Write a Business Plan

A business plan is essential to the success of your enterprise. The plan should cover niche choice, type of inventory, marketing and future goals. The plan should include funding sources, goals and company structure.

Permit and licenses

Register the favor business as a sole proprietorship. Some of your gift items could be subjected to value added tax.

Get an employer identification number and insurance cover. If you have a physical store you need a trade license.

Location

An ideal location is a residential area or close to an event center. The gift store should be visible and easily accessible.

The amount of investment depends on your funding. You could lease a store or purchase one for your enterprise.

Hire an interior decorator to create a beautiful store. Introduce shelves, glass display cabinets and a checkout area.

Build an Online Store

If you do it right your online store would make lots of money. Although your store caters to a world market you still need a physical storage area.

You can stock lots of personalized items and liaison with printers. Make sure your website is SEO compliant and use social media to drive traffic.

 Include beautiful images, prices and shipping. Add a shopping cart to process credit card or PayPal payments.

Marketing

Advertise your business in local newspapers or online classified websites. Print flyers, billboards, signage boards and business cards. Offer discounts, promotional packages, sampling and other gimmicks. Try to network with event planners, wedding organizers, florists and other related businesses.