Toys based on popular kids’ movies or shows are always in high demand when those come out, like Frozen dolls or Paw Patrol vehicles. When fads catch on, toys related to those tend to sell very well for a year or so, such as fidget spinners and Hatchimals. Classic toys like Legos, Play-Doh, and board games tend to remain strong sellers year after year as new generations grow up playing with them.
Basic developmental toys for babies and toddlers are needed as long as families keep having kids. Things like soft blocks, shape sorters, stuffed animals, and plastic toys for the bathtub were popular first toys. Outdoor toys like bicycles, swing sets, waterslides and soccer goals are great for kids exercising. Parents want their kids to play actively instead of watching screens all day.
The toy industry brings in billions yearly because new generations need toys for fun and development. Classic toys never go out of style, and hit movies or fads can boost interest in related toy lines. Providing toys that get kids active and learning also appeals to parents wanting healthy development. The demand will likely continue as kids keep needing quality toys.
Funding your toy business
Starting any business needs money to get going. A toy business needs funds for workspaces, equipment, materials, and staff to design and make the toys. You may need to make some toys first as samples before you can start selling.
Rather than use your own money, consider a small business equipment loan with no credit check. Equipment loans that don’t require strong credit can work. The terms may not be ideal, but they allow you to start sooner. Grants from investors or crowdfunding campaigns are other options.
Make sure you understand all costs before taking out loans or investments. Toy making also has expenses for testing and safety requirements. But if you pick the right toys, the loans can pay off in the long run due to ongoing strong toy sales.
Finding Your Niche
Everyone wants something new and exciting when it comes to toys. But coming up with winning ideas isn’t always easy.
Keep an eye on what the hot sellers are this year. Are slime kits all the rage, or are interactive puppies topping the charts? Pay attention to movies and characters that have kids going crazy right now, too. There’s always room for more related toys when something’s super popular like that.
Sometimes, it’s the simple toys that end up being surprises. A family board game that gets everyone engaged. Building blocks with a twist. You never know what might resonate and stand the test of time.
Don’t forget the classics, either. Updated Takes on legos, model kits, and arts and crafts tend to go over well. The toy aisles are filled with new gizmos and gadgets, but parents love classics they know and trust, too.
Plan It
Jumping right into making toys isn’t the best idea. Taking time to make a business plan saves so much hassle down the road.
Figure out what you’ll need to get up and running. Are you renting a small warehouse space at first or will you look into manufacturers? How many people do you need on your team – designers, marketers, sales reps? What’s the cost of materials, equipment, etc?
Crunch some numbers around potential profit, too. Check out wholesale toy prices and recommended retail prices for stores. How many units might you realistically sell in Year One? Making some quick projections helps gauge if this could be a money-maker.
Making Toys
Once you settle on some toy ideas, making them appeal to kids and parents has an art and a science to it.
The science part is safety, and adhering to toy safety standards should be the priority, no matter what. If the toy is aimed at little kids, make sure there are no small detachable parts. Toxic dyes and lead paint can never be used in materials. Sharp edges get rounded off. You want it durable and risk-free.
The art is making it irresistibly fun. Something clicks and makes a kid’s eyes light up. That joy of playtime and learning melded into one toy – that’s the goal! Tap designers who know what works developmentally but also looks cool.
Testing prototypes is so important, too. Seeing kids actually play with a toy for reactions can make or break it. Making tweaks based on trial runs pays off.
Stay on top of trends, but don’t be afraid to create a whole new toy niche if you find a need. Never forget to make safety and durability your top priority while making it super fun!
Sell It
Creating your own ecommerce site to sell directly to consumers can be a good starting point. It allows you to tell your toy brand’s story, show off products with videos and images, and build relationships with customers. Promote the site through social media ads and influencer partnerships.
Get into stores. Pitch to independent toy stores, children’s boutiques and gift shops first. Set up booths at trade shows to showcase products to buyers. Provide samples and sell sheets. If sales go well, apply to larger regional, national and big box chains. Offer wholesale rates and co-op advertising funds to incentivize stores.
Think about selling abroad. Once established domestically, consider expanding internationally. Research demand for your toys in top markets like Canada, the UK, Australia and Western Europe. Localise packaging and instructions for languages and cultural nuances. Meet safety regulations. Use global payment methods.
You can hire a marketing agency or branding and promotion specialists, but they may charge high monthly retainers. However, it’s often worth investing in their expertise and media connections. If short on cash, you could explore 12-month loans for bad credit with no guarantor with reasonable terms.
Promote toys through cost-efficient digital channels first, then get products into stores. If strong sales are gained domestically first, expand internationally to multiply revenue. Invest in professional marketing help through flexible financing.
Keep Going
Kids want novelty, so they come out with new toys often to sustain interest. Brainstorm fresh takes on existing product lines with design tweaks or new themes. Stay on top of trends and pop culture to spark innovations. Offer limited-edition toys to stoke demand.
- Pay close attention to feedback from store buyers and customer reviews.
- Monitor which toys aren’t selling as fast.
- Ask buyers and toy testers for improvement ideas.
- Be responsive if certain toys have defects or don’t capture play value as hoped.
- Iterate based on constructive input.
Conclusion
The most important tip is to make fun, quality toys that appeal to kids and parents. Get lots of input from your target buyers first before you design the toys. Make them colourful and interesting, with features like textures or sounds.
Listen to customer feedback so you can update toy designs as needed. The best measure of success is having popular toys that sell out quickly. Adapt to the market’s changing demands to keep your toy sales and profits growing strong.