It seems most business gift companies are spawned from a family business, typically starting from the kitchen table and then slowly expanding into offices and mergers.
The principle of any Business and Promotional Gifts company is basically selling branded items from pens, mugs, t-shirts, umbrellas, diaries, clocks, conference folders, badges and awards just to mention a few. Branding is typically by printing, embroidery, engraving or hot foil blocking. Unusual requests tend to occur from printing eggs to badminton nets. Some companies tender for schemes, these tend to be high turnover, high servicing and lower profit margins.
The norm is for the gift company to be part of a catalogue group, this gives them immense buying power and discounts from products sourced all over the world. There are also associations that can help and support the business, promoting best practice around the sourcing, manufacturing and distribution of promotional products. There are also Trade Associations that represents manufacturers, importers and distributors.
Right, back to the family business, this tends to be a mixture of parents, (the owners), their children, spouses, friends and relations. This mix contributes to a real cocktail passion and fireworks. That day’s business can carry on in the car, at dinner and even breakfast, emotions can cloud business decisions.
Power struggles can happen, the older experienced heads who know best nearing retirement, conflict with younger driven know it alls. This in fact can be a fantastic combination, which should the clouds disperse then the business would have a clear blue sky. Success is in the hands of the drivers, it’s their decision which way to turn when they hit those crossroads!
Am I talking from experience, what do you think?
Labels: Business and Promotional Gifts