There is no such person who has not dreamed of starting his own business at least once in his life. When we think about our own business, all sorts of ideas come to mind, from small Internet startups to something much bigger, like car rental. The car rental service, and especially luxury car rental, is popular with consumers because it is convenient and profitable. For a rented car, you do not need to pay tax, spend money on maintenance, and monitor the terms of insurance. The convenience of car rental services is that you can choose a car according to any parameters and for any period. However such a business requires large investments.
In any case, before investing time and effort in starting your own business, you need to get a clear answer to the question “Why do I need this business?”.
A business should bring profit, first of all, but also, of course, pleasure. The best choice that satisfies these two crucial requirements is a toy store.
Is the toy industry simple?
An entrepreneur needs to be aware of the peculiarities of dealing in a children’s selection before starting a toy business from scratch. This will reduce errors made at the beginning of the firm and hasten the return on investment.
The main nuances of the toy trade are as follows:
- presented toys should be interesting for children of different ages;
- you need to be interested in children’s animation in order to know about modern trends;
- a wide range of small goods requires the automation of a toy store;
- the need for a check-in store for baby carriages and a place where they can be left;
- ability to care for young children.
These features indicate that the toy industry is a challenging one. However, careful product selection and well-planned sales organization can reduce risks, allowing the business to operate profitably.
Market research and choosing a retail location
Analyzing the market for rivals and consumer demand is crucial before launching a toy business. If there are many competitors, and they are located in good places, then it is better to look for premises in the neighboring area to start a business. Demand is the main element of profitable trading. The ideal place to open a children’s toy store is a department in the mall with entertainment attractions: trampolines, mazes, and so on. They are visited by many parents with children. A worthy place for a store will also be premises near kindergartens, schools, markets in sleeping areas.
Business licensing
To open a toy store will require a minimum of time and money. The registration process depends on the country, so it is better to study the registration process in more detail in the legislation.
Equipment and interior
A children’s toy store is more expensive to set up than, say, a clothing store. This is because the interior needs to have a fantastic atmosphere.
In general, to open a toy store you will need to purchase:
- shop floor equipment: cabinets, glass showcases, shelves, slides for placing toys in the center of the trading floor, figures of fairy-tale and cartoon characters, stickers at the entrance with their images, posters and pictures;
- staff furniture;
- cash equipment;
- large bright sign.
To prevent children from falling and hurting themselves, the toy store’s equipment should be secure and free of protrusions and sharp corners.
The most appealing children’s toys should be set up in an exterior glass exhibit, if one exists. They must be in diverse pricing ranges to avoid discouraging parents with exorbitantly high or low costs.
Range and suppliers
Entrepreneurs who want to figure out how to open a toy store from scratch should definitely analyze the trends in children’s preferences. Fashion in this area changes monthly, so the planned assortment will need to be reviewed before the very first purchase.
You should start purchasing goods from the most popular categories:
- dolls;
- cars;
- table games;
- constructors;
- puzzles;
- children’s creative play sets.
When choosing suppliers, it is better to choose those who provide quality certificates for products.
Advertising
An advertising campaign for a toy store should attract the attention of both children and adults at the same time. To achieve this goal, you can use the following types of advertising:
- colorful sign;
- toys and posters for the window treatment;
- roadside billboards;
- distribution of flyers dressed as children’s heroes.
Opening a toy store requires careful consideration of all of the factors mentioned. But you should also keep in mind that trading in things that the seller genuinely wants to sell is significantly simpler. Additionally, a favorable attitude toward toys is easily transmitted to kids and their parents, which ensures the business’s success and profitability. Therefore, it is recommended to trade in children’s goods only for those people who themselves like to use them.
