How to Start a Toy Business

How to Start a Toy Business - Overview of This Business

Opening a toy store can give you the opportunity to not only make a profit for yourself, but to provide your community with specialty items which many other stores do not provide.

Independent toy stores can be very popular with a community, supplying them with not only a great selection in toys, but a personalized touch that can help any customer find exactly what they are looking for.

Pros of the toy business

If you can offer a great selection of toys, your customers will be very loyal and willing to repeat business with you.
They will come to you for special orders as well shopping for regular toys.

You can also be a store that brings a great deal of delight to the children who visit, becoming a special place that they want to go to over and over.

Cons of Running a toy business

Many people think that they can find all of the toys that they are looking for in a regular department store. They think that specialty toy stores are expensive places and will not visit you because they are trying to save money.
It can also be difficult in trying to get people to visit your toy store when you first open because they cannot do a bulk of their shopping at your store.

Licensing or Special Requirements for a toy business:

You will need to fulfill any local requirements when it comes to opening your own toy store, getting the building permits and zoning regulations is important.

Getting Started in the toy business:

You may want to consider what the best type of product to sell is. Having a range of toys may be your best option, from the normal toys which someone could find in a department store, to special types of educational toys and art supplies.

Having a range of activities which could interest children can help in making sure that you get enough business into the store. You may want to not focus only on children, however, because having a range of products from board games to vintage toys which could interest adults can be a good decision as well.

Minimum Start up Equipment:

You will need to pay rent to lease the space for your shop, as well as any permits and zoning regulations that you need. Utilities are another important factor. On top of this, you will need to pay for a beginning set of inventory, making sure that your shop is fully stocked for its opening day.

Optional or Advanced Equipment

You will want to be sure that you have a direct line with suppliers so that you can order replacements or any special requests and receive them as soon as is possible.

Hours of Operation:

You should be prepared to be open during any normal business hours, although opening late can help partents buy toys with there kids after work and school. You should also be prepared to be available to take any shipments which may not arrive during normal business hours or to restock the store after hours.

Minimum Number of People required to Operate A toy business:

You will need to make sure that you have enough employees available at all times, covering the busy hours and all the days of the week. You will also need to make sure that you have enough people to cover any sick days that an employee may need to take or vacations as well.