Do you want to have a kid toy business? If you do, you should know everything about it. Let’s see the explanations below!
The Potential Benefits of Kid Toy Business
Only some people know what percentage of profits are taken from each sale of children’s toys. Did you know the benefits of the child’s toy business are many times over and can even reach above 100 percent? You can analyze and find out for yourself how much the price flow from the agent to the retailer.
The most important thing for us is the willingness and courage to start, tenacious and diligent in running a business. God willing, even though I don’t have a high degree like my friend, he can prove it with success in running his business.
The Risk of Kid Toy Business
Every business must have risks, of course with different levels of risk. Likewise with the toy business that also has the risk of loss, if not run and managed properly. But maybe the risk of loss for this business is relatively small. Why is that? Because children’s toys are dead goods that are not easily destroyed by age.
The potential loss is when the stock is not depleted, it will disrupt the circulation of capital to shop for toys with the latest type. And sometimes there are also reject items that cannot be sold to the market.
The Kid Toy Business Management
The children’s toy business is a creative, dynamic and trend-based business. Every day there are always new types of toys popping up, usually, when certain toys are trendy, consumers are automatically sought after and sold well, and the stock in the market is even more difficult because people are scrambling to get it.
This is where our agility is needed to see the objects that are needed by the market so that the business that we run is growing rapidly. If we are slow in moving, then it is certain the business will run in place.
Below are some tips for you as the beginner to start the kid toy business:
1. Select the location
Location really determines the behavior or not of the toys you sell. Try to find a location that is close to the school, children’s playground (playground), or other places that are often visited by the target market. However, for those of you who don’t have enough capital to have an offline toy store, you can sell it online.
2. Determine the type of toy
Before determining what kind of toy you want to sell in your store, you must first determine the target market. For example, your target is children under the age of 2 years, that means you have to sell toys with large shapes so that they are not easily swallowed. By determining the type of toy you want to sell, you can make it easier for consumers when choosing the type of toy that matches the age of the child.
3. Take advantage of special moments
Toys are a seasonal business. This business will be quiet at certain times such as class increases. And the demand will increase when the moment of Eid, holiday, or Christmas. Don’t worry, you will more easily plan a marketing strategy so that sales remain stable during the season. For example, you can provide a toy bundling promo that prizes school supplies during the period of the class increase.
Then, are you ready to start a kid toy business?