Toys Business Plan offline and online

 

Toys, We all have some beautiful childhood memories with toys. Do you remember, when our birthday or some festival is has come, we had always eagerly waiting for gifts as our favorite toy? Every child has a favorite toy it may be cars or dolls. Some children’s has a passion for collection of supercars, robot, and most of the girls like to collect dolls.

Now, toys have become more advance and education-oriented. Toys are available according to the Children's age group. Nowadays, the start-up of toys business is the most searched idea on google because this business never goes out of trends.

The toys industry in India has the potential to grow to $2-3 bn by 2024. The Indian toy industry is only 0.5% of the global industry size, showing a large potential growth opportunity. This industry will grow 10-15% per year, according to industry experts.

If you have a good blueprint for a business, you can start your business and easily beat your competitors in your area. Before making any plan you have to decide whether you start a retail business or a wholesale business because both types are profitable, the main thing is budget. According to your budget plan, you have to decide.  

For Wholesale business:-

·                 You have to owned or rented property for the storage of toys.

·                 The storage location must have some parking facilities for retails.

·                 The location should be well connected through road or highway.

For retail business:-

·          You should have a shop owned or rented in a busy area.

·         If your shop is situated in a busy market or near a School or somewhere public gathering is more, this will play a very crucial role.

Scope of toys business

We all know, toys never go out of the trend. Every day, a new type of toys are available for all ages & group like if you remember Doremon Cartoon Character is very famous among the Children’s. There is so much variety like soft-toys, Robo toys, Cars electronic and simple cars. You can also include video games in this toys business for teenagers. The population has also increased so, the demand for toys and video games is increased. You can easily set up your toys shop and earn huge profits, Just remember that the product you purchase for resale must be purchase at a lower cost.

Step by step process for start a toys shop.

Now, you have decided to start an offline toys shop, then some simple basic steps will help you to get a nice profit for a startup business.

1. Make a short survey in your shop location

  -  How many toys shops are already there?

  -  Famous toys shop in your area and its products.

  -  Is there any school and also have toys shop.

  -  How many branded toys store are there and if possible check their yearly turnover?

                       If you get the satisfied result, conditions and also have the possibility for a new investor, then you can move to the second step.

2. Investment

For every type of business, investment is the most important part. If you have enough funds then no problem otherwise if you have limited funds, you have to select the very few products and highly demanded products for your shop. At this stage market survey, you have done will help you to select some of the demanded items that are best selling items in your location very easily.

If you wish to start a wholesale business then you have to get a quotation from the direct factory or if you wish to open a shop then you can get a quotation from the factory or whole seller.

3. Business Registration

Under MSME Scheme you can register your business to get the benefits. Under MSME schemes, you can borrow money according to your need for your business at a nominal interest rate. In the initial stage, you can start your business without GST but if you want to get government benefits you have to register your business in GST.

MSME related information visit :-MSME registration

For GST related information visit:- GST registration

4. Interior design and lighting

As you know the toys business is for Children and Children likes bright colors. The multi-color shop attracts children so you have to design your shop accordingly. The design of the shop should children friendly so that they can easily find their favorite toy. The toys shop should have proper lighting in every corner of the shop. You have some other equipment and furniture include:- Chairs and tables, Computer for billing, Printers, Billing desk and locker.

5. Marketing for toy business:

You can go online and offline marketing. You can organize a small event in an opening ceremony that will give you a local identity as a toy store. Another option, you can distribute pamphlets in your local area. For online marketing, you can use all social media platforms like Facebook, Instagram, and Youtube Channel.

***You can also sell your toys through E-commerce***

You can sell your toys on E-commerce sites like Amazon and Flipkart others. Just build a seller account on E-commerce sites and start your business. There, you can easily manage your order demand online. Through E-commerce, you can sell your products whole country.

For more details, check this link:- How to start an online business.

Conclusion

Start a toys shop is a great idea but you need to do a small survey in your business area.  Then, you have to be very careful to select toys for your shop. You have to use different methods for marketing which will help to grow your toys shop successfully. Once you are stable in your business, you can go extend your business to maximize your profits.

  ****I hope this article helps you to start your toy shop business****

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