Can I Really Make $30,000 a Year?

"Earn $30,000 a Year from Home - Part Time!" read the subtitle of a recent gift basket seminar.

The text made it sound so tempting, so easy, but is it possible to pocket that kind of cash? What type of commitment does it take to earn it?

True or False: I can make $30,000 in one year making gift baskets.
Answer: True. Let’s do the math.

$30,000/year = $576.93/week.
To collect $30,000 in one year, you must sell a total of $576.93 (retail price) in gift baskets every week. The following scenarios show what you must collect in sales working 5, 6 or 7 days a week.

$576.93/week =
$115.39/daily for 5 days,
$96.16/daily for 6 days, or
$82.42/daily for 7 days.

I’ve tallied a 7-day option, but working seven days is tough. Entrepreneurs sacrifice a lot to get what they want, but consider how burned out or disillusioned you become if there’s no down time in your schedule.

Let’s compare daily sales with number of baskets:
5-day work week = one $115.39 basket daily, three $38.47 baskets daily or five $23.08 baskets daily.
6-day work week = one $96.16 basket daily, three $32.06 baskets daily or five $19.24 baskets daily.
7-day work week = one $82.42 basket daily, three $27.48 baskets daily or five $16.49 baskets daily.

Do gift basket professionals capture this many sales on a daily basis? Absolutely, though it doesn’t happen overnight. Consider the number of possible sales through people and groups in your circle of friends and associates: physicians, dentists, veterinarians, dentists, accountants, social and professional organizations, small businesses, co-workers at your full-time job. These are just a few potential clients.

Make a list of the best candidates to buy your baskets. Court their account through casual conversation, flyers, postcards and E-mail (if prospects have pre-approved this type of contact). Telling them once won’t convert them. You must keep in touch every month while adding more prospects to your list and contacting them as well.

True or False: At the end of one year’s work making gift baskets, I will walk away with $30,000 in my pocket.
Answer: False.

That $30,000 figure represents gross sales. The amount you keep (known as net sales) is the monies left over after deducting your yearly expenses such as travel, postage, rent, supplies, inventory, subscriptions, insurance and salaries for anyone employed to assist you in business.

It’s not uncommon, in the first year of business, to spend more than you make. The amount you keep depends mostly on how much you invest in making gift baskets. If this is a hobby, you might not invest in a lot of inventory, a computer or the publications needed to become a seasoned gift basket professional. Sporadic buyers purchase only what’s necessary for a specific order, while full-fledged business owners view his or her purchases as long-term investments.

Yes, it is possible to make $30,000 in one year, as long as you dedicate the time, funds and steadfastness necessary to earn it.