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How to Open a Toy Store?

You want to start your own business and are thinking about opening a toy store? Here you are going to learn how to open a toy store step-by-step.

The idea of how to open a toy store seems very attractive to many people.

It is directly connected to the fact how much happiness you can bring to children while making money.

Is not it the job that the most of us are dreaming about?

Still, many people believe it is very easy to open a toy store, but actually this business has plenty of pitfalls and before you open a toy store you should better think over all nuances and details.

In toy stores the customers are very often children themselves, i.e. they came with their parents of course, but they pick the toys on their own and parents only pay for the purchase.

It appears that now you are to learn how to solve two tasks at a time: you must attract child’s attention and make the adults trust you.

Market research to open a toy store

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Before you open a toy store, you should definitely do the market research.

Since the increase of the birth-rate is observed nowadays, the demand on toys increases as well.

Under the following conditions plenty of new toy stores open, however, despite that fact, the market is still not supersaturated.

As a rule, most shops have the same variety of toys, besides of a rather low quality.

It’s quite real to discover how to create a successful project of selling toys – for example, to open a store, which will sell only toys of high quality and with all needed certificates.

Besides, you may also sell educational toys.

If you want to know how to open a profitable toy store, you should hire the professionals, who can provide you with all information about the level of competition, price policy and the offered range of goods.

Only after this you can estimate how necessary the opening of your toy store is.

If your region is supersaturated with such business, you’d better learn how to do something else.

Read also: How to Open a Gym?

Step-by-step instruction on how to open a toy store

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  1. Select a place and a room to open a toy store.

    Despite the widespread opinion, it’s not profitable at all to open a toy store near the café for children, cinema, amusement parks, skating rings and other stationery places for children’s leisure time.

    Most parents devote small sums of money on children’s entertainment, that’s why they do little spontaneous purchases.

    Besides, it’s extremely difficult for parents as well as children to combine a serious shopping for the needed children’s things with entertainment.

    Surely, every child is sure to prefer a merry-go-round to a boring trying on.

    However, it’s quite right to rent a space in huge shopping malls or relatively close to them.

    You should consider only the lower floors, where pregnant women and mothers with strollers and babies did not have to think how to cope with ladders, elevators and escalators.

  2. Register your store.

    If you want to open any business, you must take care of its legal aspects.

    You can register as a private entrepreneur or a legal personality.

    • It’s much easier to get the documents on the private entrepreneur than on the legal personality, but here you risk losing your property, which was put behind, in case your business is not successful.
    • The positive side of a legal personality, i.e. creation of a community with the limited responsibility, is less responsibility and preservation of the personal property in case you fail to build successful business by opening a toy store.

    However, in this case you’ll have to come up with a statute, open a bank account, do all constituent documents and then reconcile them with Tax Department.

    The choice is yours, but the “experienced” businessmen advice to start with registering as a private entrepreneur, because in this situation you do not need to cover the additional expenses on the accountant’s services and it’ll be easier to communicate with Tax Department.

  3. Chose a format to open a toy store.

    • Nowadays, more and more popular become children’s supermarkets, where you are able to buy everything, starting from baby food to the educational toys.

      Such shops presuppose self-service, which most kids like a lot, because they have free access to the goods – it increases the sales and the possibility of purchasing unplanned things.

      You should divide your toy store on different sectors, for example, by the age category of toys.

      You’d better make a zone of fluffy toys, a zone of dolls, a zone of construction toys, a zone of logic and educational toys and so on.

    • Still, if you decided to open a shop of a narrow specialty, for example, only of educational toys, you can put the goods in a different order, starting from the easy ones and up to the difficult.

    In order to attract and entertain the possible customers, moreover, if the space permits, you can organize a playing ground, where children could play.

    In this case your business is sure to become popular, because you are likely to get plenty of regular clients.

    Now you know how to organize a toy store, so that it was not only comfortable, but profitable, too.

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  4. Installing equipment and decorating a toy store.

    If you decided to create the design on your own, you should definitely consider that the shop must attract not only kids, but their parents as well.

    It’s quite enough for children to see bright colors, for example, different pictures and paintings on the walls.

    Besides, you can install some playing constructions.

    It may be a labyrinth, some slides or castles, etc. In order to decorate the room, you should use different figures of the characters from the fairy tales, with which children will be allowed to take pictures.

    Do not forget about the outside decorations, because it is a significant condition of how you attract customers.

    Mind that you need a nice shop-sign and shop-windows. In order to decorate the windows you may use different toys, which will evoke in children and parents the desire to come in.

    Speaking about the equipment, it mostly concerns various shelves.

    You must have a chain of demands to them, because children will be visiting your toy store.

    It’s important that the furniture in the shop is safe, solid, but looks beautiful at the same time.

  5. Choosing assortment for a toy store.

    Before you buy toys for your shop, you must learn a few things: which toys are in the most demand, which are always easily sold, and what offers the manufacturers have.

    Only after this you can start thinking how to form the assortment.

    • At first, take as various goods as possible in small amount.

      When you start selling, you’ll see which items are popular in your store.

    • You must know everything, that’s why you’d better learn all offers on toys from the wholesalers and orient on the manufacturers, with which you could establish partnership.
    • This way you’ll be able to lower the price on toys and it is sure to be very attractive to parents.
    • The signed long-term contract for toys’ delivery, including the insurance on the losses, will become a good ground on how you will get a successful business in the future.

      Besides, you should come to an agreement with the partner-company about the delivery terms, the goods’ storage and the payment.

    • It won’t be excess to get the certificates on the corresponding between the goods of every batch with the safety and quality standards.

      You may place them in the customers’ corner, close to the book of complaints, private entrepreneur’s certificate and the leaflet with the customers’ rights.

  6. Hiring staff for a toy store.

    In a toy store you are going to need:

    • a manager;
    • an accountant;
    • several shop-assistants.

    Your accountant may be a freelancer, or work on the hourly basis. Moreover, you can hire a firm on the outsourcing.

    A manager is required in the shops of the intermediate and upper-intermediate level; at first these functions may perform the owner of the store.

    Even if the store is not very big and there is only one shop-assistant, you should hire several people, so that they could work in shifts.

    On a note: 4 Ways to Make Money in Real Estate

  7. Advertise the opening of your toy store.

    You should definitely promote your business with the help of advertisement.

    • Give some ads to the newspapers and local TV channels.
    • Besides, you can spread leaflets in the streets or put them in the mail boxes nearby.
    • In order to attract the regular customers, you can implement privilege cards.

      Give discounts as a birthday gifts to the little customers.

    • It is advisable to organize a huge holiday in the day of opening with presents, so that the customers remembered you and visited you regularly.
    • A new toy store in a small town can be advertised through the friends and acquaintances.

      “Word-of-mouth” radio in this situation will work better than any expensive advertisement.

    • If at the entrance door there is a huge toy, for example, a bear or a dinosaur, not a single child will pass by and is sure to make his parents come in.

There are no fixed sums of money that you will need to open a toy store.

It is directly connected to the fact that in different regions the rent price and staff’s salary is sure to differ.

Moreover, a huge store requires more money and effort than a small one.

We still hope that this article explained you how to open a toy store, and answered the most widespread questions concerning it.

Mind that no matter how promising and profitable this business is, without your desire and wish for development, you won’t achieve anything.

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