Homegrown Business: Megan Munro, Founder of Caribou Gifts

Caribou Gifts offers gifts for any special occasion for any loved one that you may have, no matter their age! Their gifts range from gift baskets to specialized gourmet foods, to books and games, to corporate gifts, and so on! They even allow you to create your own gift basket and browse through all their items. Not only can Caribou Gifts offer you the most thoughtful and fun gifts, but they also prioritize sourcing from Canadian suppliers and from women-owned brands. We spoke with Megan Munro, the Founder of Caribou Gifts to learn more about them.

Caribou Gifts

What is your business called and what does it do?

Caribou Gifts is a gift store operating both online and from our Junction storefront. We sell ethically sourced gifts and gift baskets for all ages. We prioritize sourcing from Canadian, women-owned brands where possible.

What made you want to do this work?

I have always loved the act of thoughtful gifting and I come from an entrepreneurial family background. After having children of my own I wanted to build a business that they can be a part of. It’s important to me that they understand entrepreneurship and what hard work can achieve.

What problem did you want to solve with the business?

I love putting together thoughtful gift baskets for friends and family but when I had children I started looking for ready-made options and I couldn’t find what I was looking for in the existing market. I decided to market and sell my own gift baskets that contain high quality, locally and ethically sourced products that people actually want. We also offer custom gift baskets so our customers can select each item to include either online or in-store for the perfect custom gift.

Who are your clientele/demographics?

We have a variety of clients and we try to offer something for everyone in a very inclusive environment. We work with a wide range of corporate clients from law firms to tech companies to real estate agents. Our storefront tends to attract a lot of local families due to our wide selection of merchandise and the neighbourhood we are located in.

How does your business make money? How does it work?

Caribou Gifts is an online and brick-and-mortar store – we make money by selling gifts and gift baskets to our customers and clients.

Caribou Gifts

Where in Toronto can we find your profession?

Our storefront is located at 228 Mavety Street in Toronto’s Junction neighbourhood – just west of Keele and Dundas.

What is the best question a prospective customer could ask a member of your profession when comparing services? Give the answer as well.

What makes your gift baskets different from others?

We prioritize sourcing from Canadian, women-owned brands where possible

We offer high-quality gifts for all ages

We donate a percentage of all sales to community organizations

We do not substitute items included in the gift baskets without the customer’s permission (this is a pretty common issue with some gift basket companies)

We go above and beyond for customer service and have a very high repeat client rate as a result

What is the best part about what you do? What is the worst part?

The best part of what we do is helping people find the perfect gift to say “I Caribou You” to someone.

The worst part of this business is currently dealing with supply chain issues which means we need to forecast our demand for peak seasons earlier and earlier every year and can

What is your favourite joke about your own profession?

I think people tend to think gift baskets are filled with inexpensive items people don’t need but we are working to change this since our gift baskets are made with high-quality, full-size products that are Made in Canada!

What are your social media channels?

Facebook | Instagram | LinkedIn | TikTok

PAY IT FORWARD: What is another Toronto business that you love?

There are so many businesses that I love – shopping small is a major part of my personal lifestyle and our business. I’ll do a shoutout to some of my favourite Junction TO businesses Healthy Moms Market and the brand new Petti Fine Foods.