Starting Your Own Gift Basket Business For Fun. Many people do not think about the cost of a business phone line, office equipment, accounting professional or software, and insurance for the business when they consider starting a Gift Basket Business or any business. These are just a few of the extra costs that are just as important as inventory. Taking control of your own future is the key to financial independence. So, learning how to start a gift basket business is going to be key to getting out of the rat race. The neat thing about such a business is that you can get started with very little money up front, and you don’t have to have a lot of inventory. Every day, people look for opportunities to start a business, why not consider a gift basket one?