Think Big, Buy Small Buying A Seasonal Gift Basket Business In Canada
Jun 24, 2024
In this engaging discussion, Robin Kovitz, President & CEO of Baskits, shares her inspiring journey of acquiring a seasonal gift basket business in Canada. She dives into the challenges and rewards of running a seasonal brand, emphasizing the importance of work-life balance and adaptability. Robin reveals her approach to risk in entrepreneurship, highlighting how calculated risks can lead to exciting opportunities. She also discusses funding strategies for aspiring business acquirers, making entrepreneurship accessible through creativity and determination.
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Long, Passionate Search Journey
- Robin Kovitz took over a gift basket business after a 3.5 year search using mainly her own money.
- She was passionate and cautious, which prolonged the search but helped find the right fit for her family and career.
Complexity is Business Moat
- The gift basket business has high complexity involving multiple components and precise delivery.
- Its core strength lies in managing large B2B orders with accuracy and customization for corporate clients.
Hands-On First Season Challenges
- Robin’s first busy season running Baskits was chaotic with many unknowns and no tracking of production.
- She personally stepped onto the production floor daily to count baskets and improve processes early on.