Last Updated on September 12, 2022 by Kimberlee Johnson
If you love to mix and match wrapping papers with ribbons and other embellishments, using your gift wrapping skills can help you earn good money. Moreover, getting into the gift wrapping business is a fun way to build a sustainable income source, especially during the holiday season.
Before you start a gift wrapping business, know how much to charge for wrapping gifts. Please read on.
How Much Should You Charge for Wrapping Gifts?
Similar to other services, the costs of a gift wrapping business depend on the time it will take to wrap gifts, their size, design, and season.
However, if you’re starting, it is ideal to observe the market trends, so you can charge reasonable prices and attract new customers.
For beginners, you can charge around $3 per hour for bulk orders same as the gift wrapping services offered in malls .
Take note that your hourly rate can increase to $10 depending on how complex the procedure is and the type of gifts you’ll be wrapping.
On the other hand, if you’ve worked in a gift wrapping franchise and gained expertise, you can charge a higher hourly rate for bulk orders.
Generally, most gift wrapping professionals charges around $30-$50 per hour, including the cost of wrapping paper and other materials.
Furthermore, if you’re a professional gift wrapper, you can charge additional fees to wrap gifts on the client’s site.
If you don’t want to do the math all the time, you can have a fixed price based on the gift size. This is recommended for starters in the gift wrapping business as you can ensure that all the expenses attached to your service will be covered, and you will earn a profit.
To do so, you can compute the expenses of the wrapping paper and other materials needed and make a fixed price for each gift size.
For instance, you can charge around $3 for a small gift, $6 for a medium-sized item, and $10 for big sizes. You can also have a specific price set for larger packages.
One of the greatest pricing strategies a good business should develop is its edge over its competitors. In the gift wrapping industry, there’s no better way to do it than to design your own custom wrapping paper.
Since those who seek wrapping services are too busy or want to add some decorative flair to their gifts, offering unique and creative gift wrap designs will help increase your customer base.
So if you’re investing for the long term, find a wrapping paper printing company to turn your ideas into reality and charge a custom rate based on the design of gift wrappers.
While gift wrapping is not really necessary, according to a psychological study, individuals who get a wrapped gift value their present even more than those who receive unwrapped gifts .
This is a fact since receiving gifts and opening them during your birthday or Christmas makes it more exciting and memorable.
So if you want to get into the gift wrapping business, it is best to start before the holidays to increase your customer base.
You can also offer customers special discounts, especially for corporate clients with large orders. Additionally, you can have seasonal discounts to entice more customers to avail of your service.
Once you have a good customer base and repeat clients, it’s time to step up your packages and services. For instance, offering personalized service will surely attract more customers by allowing them to pick the design of the wrappers and embellishments.
Afterward, give them a quotation based on their orders.
Another service you can offer is on-site gift wrapping since certain presents require proper handling and may be too big to be transported.
You can also sell gift boxes, paper bags, balloons, and special containers for fragile presents before wrapping them. By doing so, you can earn from their additional purchases aside from the service you offer.
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Factors To Consider
First, the wrapping supplies you’re using for your service matter the most since undercharging can make you lose money, and overcharging can make you lose clients. Ensure to cover the expenses of all the materials.
If you have basic gift wrappers, you can charge a standard rate for your service, while you can increase your charges if you have unique, customized, and exquisite designs.
Furthermore, offering selections of ribbons and other embellishments can increase your profit as you can charge differently based on the customer’s choice of add-ons. In short, computing the expenses for the materials is essential to know the base rate before adding your service charge.
Aside from the materials’ cost, your charges will also differ based on the ongoing expenses of your business, such as the lease you’re paying if you’re renting an actual storefront.
It is also recommended to have lower charges than the industry average, especially if competing with an established business.
If you’re planning to offer a pick-up and delivery service, you can charge around $20 for every trip or higher, depending on your customer’s location.
Also, consider the sales tax on your chosen location to ensure that your expenses are covered, and you’re earning a profit.
Type of Gifts
Most of the time, customers need the service of a professional gift wrapper to wrap odd-shaped gifts, especially if it’s too bulky to fit standard-sized wrappers.
So if you’re a novice, enhancing your skills and gaining knowledge is necessary to estimate the expenses of the materials needed for different types of gifts.
For example, you can charge around 15% of the total value for gift baskets, excluding the wrapping materials.
However, it would be best if you considered forming a limited liability company to protect your assets in case expensive and fragile gifts are damaged or stolen.
Like with other businesses, professional gift wrapping service offers rush orders with additional charges if the client needs the present within the day or in a few days for bulk orders.
Thus, it is necessary to set a standard delivery date for your service, depending on the number of presents to be wrapped.
For example, if your expected delivery date for a medium gift is 1-2 days and your charge is $6, you can have an additional charge of $1 if it’s a rush order. The same goes for large orders, and you can charge per number of presents.
Can you make money by wrapping gifts?
Yes, you can make money by wrapping gifts. Since it is considered a luxury practice to wrap gifts in the west, you can certainly earn money in this industry .
With basic wrapping techniques, you can promote your service online and then open a pop-up store once you’ve developed your skills and developed a good business plan.
How do you professionally wrap presents?
You can wrap gifts professionally by watching video tutorials on YouTube, where many professional wrappers share their expertise and wrapping techniques. Then, practice continuously and study different techniques for varying types and sizes of presents.
Take Gift Wrapping to the Next Level
Starting a gift-wrapping service can offer you a good source of income since this industry has a lot of potential and less competition. The only thing required is good wrapping skills and proper knowledge to promote your business.
Moreover, you should assess your potential business expenses and search for the right location to attract more customers, such as areas with many shopping malls. With our in-depth guide, we hope you can turn your dream of being a professional wrapper and owning gift-wrapping services.
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