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According to the 2008 YTV Kids and Tweens Report, kids influence:

Breakfast choices (97% of the time) and lunch choices (95% of the time).

Where to go for casual family meals (98% of the time) (with 34% of kids always having a say on the choice of casual restaurant).

Clothing purchases (95% of the time).

Software purchases (76% of the time) and computer purchases (60% of the time).

Family entertainment choices (98% of the time) and family trips and excursions (94% of the time). [1]

As a result, industry spending on advertising to children has exploded over the past two decades. In the United States alone, companies spent over $17 billion doing this in 2009 - more than double what was spent in 1992.

Parents today are willing to buy more for their kids because trends such as smaller family size, dual incomes and postponing having children until later in life mean that families have more disposable income. As well, guilt can play a role in spending decisions as time-stressed parents substitute material goods for time spent with their kids.

Here are some of the strategies marketers employ to target children and teens:

Pester power

"We're relying on the kid to pester the mom to buy the product, rather than going straight to the mom."
Barbara A. Martino, Advertising Executive

Today's kids have more autonomy and decision-making power within the family than in previous generations, so it follows that kids are vocal about what they want their parents to buy. "Pester power" refers to children's ability to nag their parents into purchasing items they may not otherwise buy. Marketing to children is all about creating pester power, because advertisers know what a powerful force it can be.

According to the marketing industry book Kidfluence, pestering or nagging can be divided into two categories-"persistence" and "importance." Persistence nagging (a plea, that is repeated over and over again) is not as effective as the more sophisticated "importance nagging." This latter method appeals to parents' desire to provide the best for their children, and plays on any guilt they may have about not having enough time for their kids.

The marriage of psychology and marketing

To effectively market to children, advertisers need to know what makes kids tick. With the help of well-paid researchers and psychologists, advertisers now have access to in-depth knowledge about children's developmental, emotional and social needs at different ages. Using research that analyzes children's behaviour, fantasy lives, artwork, even their dreams, companies are able to craft sophisticated marketing strategies to reach young people. For example, in the late 1990s the advertising firm Saatchi and Saatchi hired cultural anthropologists to study children engaging with digital technology at home in order to figure out how best to engage them with brands and products. [2]

The issue of using child psychologists to help marketers target kids gained widespread public attention in 1999, when a group of U.S. mental health professionals issued a public letter to the American Psychological Association (APA) urging them to declare the practice unethical. Although the APA did not outright ban psychologists from engaging in this practice, as a result, the recommendations of their final report in 2004 included that the APA "undertake efforts to help psychologists weigh the potential ethical challenges involved in professional efforts to more effectively advertise to children, particularly those children who are too young to comprehend the persuasive intent of television commercials." [3]

Building brand name loyalty

Canadian author Naomi Klein tracked the birth of "brand" marketing in her 2000 book No Logo. According to Klein, the mid-1980s saw the birth of a new kind of corporation-Nike, Calvin Klein, Tommy Hilfiger, to name a few-which changed their primary corporate focus from producing products to creating an image for their brand name. By moving their manufacturing operations to countries with cheap labour, they freed up money to create their powerful marketing messages. It has been a tremendously profitable formula, and has led to the creation of some of the most wealthy and powerful multi-national corporations the world has seen.

Marketers plant the seeds of brand recognition in very young children, in the hopes that the seeds will grow into lifetime relationships. According to the Center for a New American Dream, babies as young as six months of age can form mental images of corporate logos and mascots. Brand loyalties can be established as early as age two, and by the time children head off to school most can recognize hundreds of brand logos.

While fast food, toy and clothing companies have been cultivating brand recognition in children for years, adult-oriented businesses such as banks and automakers are now getting in on the act.

Magazines such as Time, Sports Illustrated, Vogue and People have all launched kid and teen editions-which boast ads for adult related products such as minivans, hotels and airlines.

Buzz or street marketing

The challenge for marketers is to cut through the intense advertising clutter in young people's lives. Many companies are using "buzz marketing"-a new twist on the tried-and-true "word of mouth" method. The idea is to find the coolest kids in a community and have them use or wear your product in order to create a buzz around it. Buzz, or "street marketing," as it's also called, can help a company to successfully connect with the savvy and elusive teen market by using trendsetters to give their products "cool" status.

Buzz marketing is particularly well-suited to the Internet, where young people in particular use social networking platforms to spread the word about music, clothes and other products. It should come as no surprise that the top ten viral marketing campaigns (as of 2008) relied heavily on YouTube, Hotmail and Facebook to reach hundreds of millions of viewers-and this was before Twitter became a mainstay of social media. For example, when Burger King re-launched its 'Subservient Chicken' TV commercial online in 2004, it attracted 15 million hits within the first five days and more than 450 million hits over the next few years. [4]

Commercialization in education

School used to be a place where children were protected from the advertising and consumer messages that permeated their world-but not any more. Budget shortfalls are forcing school boards to allow corporations access to students in exchange for badly needed cash, computers and educational materials.

Corporations realize the power of the school environment for promoting their name and products. A school setting delivers a captive youth audience and implies the endorsement of teachers and the educational system. Marketers are eagerly exploiting this medium in a number of ways, including:

Sponsored educational materials: for example, a Kraft "healthy eating" kit to teach about Canada's Food Guide (using Kraft products); or forestry company Canfor's primary lesson plans that make its business focus seem like environmental management rather than logging.

Supplying schools with technology in exchange for high company visibility.

Exclusive deals with fast food or soft drink companies to offer their products in a school or district.

Advertising posted in classrooms, school buses, on computers, etc. in exchange for funds.

Contests and incentive programs: for example, the Pizza Hut reading incentives program Book It! in which children receive certificates for free pizza if they achieve a monthly reading goal; or Campbell's Labels for Education project, in which Campbell provides educational resources for schools in exchange for soup labels collected by students.

Sponsoring school events: The Canadian company ShowBiz brings moveable video dance parties into schools to showcase various sponsors' products.

In addition, companies are also recognizing the advantages of developing positive brand associations through facilitating school field trips. In the U.S., the highly successful company Field Trip Factory delivers children to companies for "real-world lessons on everything from nutrition to health care." For example, students may visit a car dealership to learn about car safety. This is seen as a win-win situation by many educators and retailers because it lets children have hands-on experiences outside their classrooms, while building positive associations between companies, students and their parents and teachers. [5]

The Internet

The Internet is an extremely desirable medium for marketers wanting to target children:

It's part of youth culture. This generation of young people is growing up with the Internet as a daily and routine part of their lives.

Parents generally do not understand the extent to which kids are being marketed to online.

Kids are often online alone, without parental supervision.

Unlike broadcasting media, which have codes regarding advertising to kids, the Internet is unregulated.

Sophisticated technologies make it easy to collect information from young people for marketing research, and to target individual children with personalized advertising.

By creating engaging, interactive environments based on products and brand names, companies can build brand loyalties from an early age.

The main ways that companies market to young people online include:

Relationship building through ads that attempt to connect with consumers by building personal relationships between them and the brand.

Viral ads that are designed to be passed along to friends.

Behavioural targeting, where ads are sent to individuals based on personal information that has been posted or collected.

Endorsements by online "influencers" who are paid to recommend a product in what looks like a genuine way.

For more information on how marketers are targeting kids online, check out the Online Marketing section.

Marketing adult entertainment to kids

In 2008, an estimated 17 million children watched the Superbowl with their families. Alongside the football, they also watched a number of highly creative and engaging ads for beer and alcohol.

The marketing of adult entertainment to children has been, and continues to be, an ongoing issue between government regulators and various media industries. In a report released in 2000, the U.S. Federal Trade Commission (FTC) took movie, music and video games industries to task for routinely marketing violent entertainment to young children. Subsequent reports since then have shown that although advances have been made - particularly within the video game industry - there are still many outstanding concerns relating to the frequency that adult-oriented entertainment is marketed to children and the ease with which many under-age youth are able to access adult-rated games, movies and music. [6] Specific areas where the FTC is calling on entertainment media to improve on include restricting the marketing of mature-rated products to children, clearly and prominently disclosing rating information and restricting children's access to mature-rated products at retail. [7]

In its latest, 2009 report, the FTC particularly noted the challenges presented by emerging technologies in facilitating easy access by children to adult-rated entertainment.

The real challenge is that promotion of adult-oriented entertainment does not necessarily fall within the parameters outlined by regulatory agencies such as the FTC. For example, Nickelodeon's 2011 Kids Choice Awards were hosted by hip-hop artist Snoop Dog, who, in addition to producing music that is not rated for children, is also a spokesperson for the fruity alcoholic beverage, Blast. Alcohol companies also use social networking platforms like Facebook to humanize their brands and make it easy for customers to 'connect' with their products.

[1] Poulton, Terry. " 'Kidfulence' on family spending strong: YTV Report." Media in Canada. February 22, 2008.
[2] Russakoff, D. Marketers following youth trends to the bank, The Washington Post, April 19, 1999.
[3] Wilcox, B., Cantor, J., Dowrick, P., Kunkel, D., Linn, S., & Palmer, E. (2004). Report of the APA Task Force on Advertising and Children: Recommendations. http://www.apa.org/releases/childrenads_recommendations.pdf
[4] Inc.Com. http://www.inc.com/ss/7-successful-viral-marketing-campaigns#6
[5] ABC News. More Companies Market Directly to Kids. http://abcnews.go.com/WNT/story?id=130347&page=1#.T6PQ_NnNkYK
[6] Federal Trade Commission (2009). FTC Renews Call to Entertainment Industry to Curb Marketing of Violent Entertainment to Children. http://www.narm.com/PDF/FTCReport_1209.pdf
[7] Ibid.

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According to the 2008 YTV Kids and Tweens Report, kids influence: Breakfast choices (97% of the time) and lunch choices (95% of the time). Where to go for casual family meals (98% of the time) (with 34% of kids always having a say on the choice of casual restaurant).

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Do you want to start a toy store online? If YES, here is a complete guide to starting a toy store business with NO money and no experience.

Okay, so we have provided you an in-depth sample toy store business plan template. We also took it further by analyzing and drafting a sample toy store marketing plan backed up by actionable guerrilla marketing ideas for toy stores. In this article, we will be considering all the requirements for starting a toy store business. So put on your entrepreneurial hat and let's proceed.

Why Start a Toy Store Online?

Children love toys, which is why it is the most common gift that adults select for children during their birthdays or whenever there is a holiday. Most children in the United States have more than one toy and regardless of the number they have do not mind getting more. This why starting a toy store business is a lucrative venture for an entrepreneur who has the passion, dedication and knowledge.

Before starting your toy store business, it is important that you love toys as this will give you an edge over someone who is unfamiliar with the market. While researching the toy market before starting the business is important, it is also important that you network with others that run such businesses in order to ensure that you get the inside scoop on what the latest upcoming toys will be.

However, while having the desire to run a toy store should be enough, it isn't as there are other aspects involved when looking to start a business and ensuring that you are able to attain your goals and objectives.

In starting your toy store, you can decide to make it very general by offering a wide variety of toys in order to attract a wider range of customers or you might look to specializing in niche products in order to focus on a select market; this is why it is often advised that entrepreneurs conduct a thorough survey of the business before starting it as this will enable them have an idea of who their target market is and therefore what products and or services will suit their style of the intended target market.

While the toy store business can be seen as any other retail business, there are still differences because unlike other businesses, the amount that you can charge your customers must be within the range of what the manufacturer suggests.

Starting a Toy Store Business Online - A Complete Guide

As disposable income continues to rise because the United States is slowly recovering from the 2008 - 2009 recession, sales of toys will continue to increase. Even though the input prices have continued to rise in such a way as to temper profitability, it is believed that the continuing growth of the e-commerce sector will cushion a lot of losses.

The industry generates an average of $31 billion but between the periods of 2011 and 2016, there has been a decline of -4.4 percent. There are more than 128,000 toy stores in the United States employing more than 133,000 people.

The industry has experienced a low level of capital intensity even though the ratio of the cost of labor to capital expenditures vary based on the size of the company. Industry operators have to invest a lot on their employees in order that certain operations of the company such as customer service, marketing and inventory, can be carried out. Another significant cost for operators in the industry is depreciation.

Even though brick and mortar retailers have to spend a whole lot in purchasing displays, shelves as well as computerized systems, online retailers have to also spend a significant amount on the heavy machinery that is needed to move their goods around warehouses.

Between the periods of 2011 and 2016, toy stores lumped together with the hobby industry, according to IBISWorld, has continued to struggle to rebound from recessionary lows even though the overall economy has seen great improvement.

The reason for this is the amount of competition that discount stores as well as e-commerce channels have brought which has absorbed demand especially as these stores not only offer low prices but also a one-stop-shop experience for customers. During the five year period, discount stores have become leaders in this industry.

According to The NPD Group, toy sales in the United States surpassed $20 billion in 2016 growing by 5 percent. The data according to the group showed that the industry grew by 16 percent between a 3 year period - 2013 and 2016. According to the NPD, blind packs were popular gift items and sales grew about 60 percent enabling the sector gain tremendously through the first three quarters and continuing through the fourth quarter.

The games segment during this period grew at about 21 percent generating revenue of more than $300 million with games for children as well as adults showing tremendous growth.

Starting a Toy Store Business Online - Market Research and Feasibility Studies

The demographic and psychographic composition of those who visit toy stores are parents that have younger children because young children are always changing which means their taste in toys will continue to change. Demographics might constantly change depending on the kind of niche that the toy store is focusing on. Therefore in defining your demographics, you should take your kind of toy store into consideration.
List of Niche ideas Within the Toy Store Business Online That You Can Specialize in
A toy store typically sells toys that are either new or used as well as games and hobby goods. Because toy sales peak only during certain periods, many toy store owners usually combine other products or services in order to generate sustainable revenue.

While niches are however good, it is best that you ensure that you have conducted a thorough research about the niches you intend to go into, the target market available and how profitable they are so that you do not end up wasting your time and resources.

The list of niche ideas within this particular business that one can specialize in includes;

Traditional toys

Retro toys

Collector's items

Traditional games and gaming supplies

Electronic and video games

The Level of Competition in the Toy Store Industry
The toy store industry is highly competitive as traditional toy manufacturers are experiencing stiff competition from digital gaming products, products that are analog in nature but provide digital play as well as the digital media, where there are lots of games that are stealing the attention of children. One factor that has increased competition in this industry is the low barrier to entry.

The key driver for toy stores is how much the consumer spends. Individual companies find that they have to go extra lengths to generate traffic as well as engage in effective merchandising in order to remain profitable. Small companies compete effectively by offering customers specialized products, serving a local market or providing superior customer service; larger companies on the other hand usually offer deep discounts and wider selections.

If you are therefore looking to start your toy store business in the United States of America, you should be aware of the fact that you will not only be competing against large stores that have already had a share of the target market but also against online retailers and digital media.
List of Well - Known Brands in the Industry
According to industry statistics, the largest retailers of toys have a major share - about 70 percent - of the total toy store market in the United States. There are reasons why these brands that are well known have remained on top and this is due to the competitive pricing they offer clients, their customer-friendly environments as well as innovativeness in their products.

As one who is just starting out, knowing who the top players in your industry are will allow you to remain focused on achieving your goals and objectives. Some of the well-known brands in the toy store industry include;
Economic Analysis
Domestically, the toy industry is seen as a low growth industry that is not only stable but also mature with a retail channel of distribution that is highly fragmented. The industry has low barriers to entry which has led to the high level of competition being exhibited in the market place.

The competition especially from online retailers have caused prices to drop across board and therefore lowering the profit margins. This is bad for operators in the industry especially as toys are regarded as seasonal items.

The dynamics of the industry has long been impacted by shifting demographics because women are choosing to have fewer children. According to statistics from U.S Centers for Disease Control and Prevention, the average age for first time mothers was 21 in 1970 and had risen to 25 in 2008, stating that the birth rate had continued to experience a decline since 2007.

The long term growth of the toy industry in the United States market is expected to remain between 1 and 2 percent annually for a long period of time.

According to a consumer research firm, NPD Group, the toy store industry in 2012 generated revenue that was nearly $17 billion even though the Toy Industry Association (TIA) stated that the total revenue generated by its industry was $22 billion.

Even though the TIA estimated growth during this year to be at 2 percent, the NPD stated that there was a decline and that the industry's growth was at a negative of 0.6 percent. Future growth for this industry is expected to remain low but stable.
Starting Your Toy Store from Scratch vs Buying a Franchise
One of the decisions that you will have to make when looking to start your toy store is whether to start the business from scratch or to buy a franchise. Because no decision is a bad one, you will have to ensure that you choose that which will enable you attain your goals and objectives quicker.

Entrepreneurs who are looking to control the pace of their business are those that will likely look to starting the business from scratch especially if they have had previous experience with the kind of business they are starting. While starting a business from scratch might overwhelm a new entrepreneur, having a business plan in place helps to ensure that one is guided when it comes to certain aspects of the business.

Buying a franchise is considered a very suitable decision for an entrepreneur who is not looking to bother with the rudiments of starting a business from scratch. A franchise system offers the entrepreneur a support system from marketing to sales and customer service, leaving the entrepreneur with little to worry about.

However, while looking to buy a franchise, it is important that you thoroughly research on the franchises available so as to know which one will suit your budget and goals that you intend to attain; just buying any franchise might lead you into wasting your money.
Possible Threats and Challenges You Will Face When Starting a Toy Store
As an entrepreneur, you should be aware of the fact that no business can run smoothly without experiencing several hitches along the way. One thing you should note is that while some challenges might be easy to handle, not all that you encounter will be solved and so when the unsolvable ones come, the best you can do is remain optimistic, whilst focusing on running your business.

Some of the threats and challenges that you are therefore likely to face when looking to start your toy store are; seasonal purchase of toys, intense competition from already existing toy stores and changing industry trends as well as consumer's preferences and lifestyle.

Starting a Toy Store Business Online - Legal Matters

Best legal entity to use for this type of business

When starting a business, one of the most important decisions that you will need to make is what legal entity would best suit your company, the reason why the legal entity is very important is because it determines how much of an impact your business is going to be able to have because while some legal entities might be easy to operate, they might limit your business expansion potentials and so it is quite necessary that you have made thorough research on all legal entities in order that you might determine which would best suit the kind of business you intend to run.

For an entrepreneur that is looking to start his business, four legal entities that are available; sole proprietorship, partnership, Limited Liability Company (LLC) and corporation. You must consider the attributes of each legal entity in order to decide which one will help you achieve your goals and objectives faster. If you aren't sure what dynamics will work for you, engage the services of an attorney to help you out.

The attributes that guide these legal entities can be thoroughly reviewed by you in order to have an idea of what legal entity will be most appropriate for you. The attributes to be concerned with include; ease of set up and ownership control of the legal entity, how flexible the legal entity is, what the taxation structure is and the extent of liability that you will be exposed to under the legal entity.

Most entrepreneurs in the United State start out as sole proprietors due to the fact that this sort of legal entity is very easy to set up and control and there isn't much paperwork that the entrepreneur has to deal with. All profits that are accrued in this business goes directly to the entrepreneur and paying tax is on the entrepreneur's personal income returns. The liability of the entrepreneur under this entity is unlimited as the entrepreneur can be personally held liable for any debts that the business accrues.

If you are however going to run a toy store that is not only large but will be in other locations, then it might be best to incorporate your company so as to limit the extent of liability that you will face.
Catchy Business Name ideas Suitable for a Toy Store
Before you can apply for a business license or incorporate your business, it is necessary to have a name that will be used to identify your business as well as the industry that you are in. While choosing a business name might look easy, it is not usually so as the business name must satisfy certain criteria such as being unique, easily memorable and indicative of the industry which you are in.

Some of the catchy business name ideas that are suitable for a toy store include;

Wilko Toy Stores

Walkaman Toys

Quaint Toys, Inc.

Clan Toys Corp

Insurance Policies
Once you have started running your toy store, you should know that anything can go wrong within the store and so it is necessary that you have the right protection in place for your business, your employees, yourself and your bottom line.

Having insurance policies means transferring the risks of running the business to someone else. It is however necessary that you know the right insurance policies to purchase so that you can set aside the right budget for it. Engage the services of an insurance agent to help you in choosing the right insurance policies for your toy store.

Some of the insurance policies that you should consider purchasing when starting your toy store business in the United States include;

General Liability Insurance

Workers' Compensation Insurance

Casualty Insurance

Commercial Property Insurance

Hazard Insurance

Product Liability Insurance

Umbrella Policies

Intellectual Property Protection/Trademark
Owning a toy store does not require that one applies for an intellectual property protection since most of the toys in the market are not so unique; however if you are inventing a new toy, then it is best to apply for an IPP in order to protect your idea from being stolen.

You might wish to apply for intellectual property protection on the name of your company, logo or any slogan you deem should be appropriately covered.

Is Professional Certification Needed to Start a Toy Store Business Online?

The only things that are required when looking to start a toy store is that you have the capital and knowledge about the business you are looking to start. Customers walking through the door want to find the right toys for their kids and are therefore not interested in whatever professional certifications that you might possess.

In order to run your business and attain the success you require, having a professional degree in business management or even hospitality management can help you run your toy store better but it is essential to note that customers are not concerned about this.
List of Legal Documents You Need to Run a Toy Store
When starting any business in the United States of America, it is expected that you have all the necessary documents in place so that you do not end up falling into trouble with regulated authorities. If you do not know what documents will be required from you when looking to start your toy store, it is best that you ask others who are in the same business as you or engage the services of an attorney who will help you in getting all the legal documents required.

Some of the legal documents that you will need in order to run your toy store include;

Certificate of Incorporation

Operating Agreements

Business License and Permit

Business Plan

Insurance Policy

Employment Agreement

Seller's Tax Permit

Federal Tax Identification Number (TIN)

Employer Identification Number (EIN)

Financing Your Toy Store
Whether looking to start a toy store business on a small, medium or large scale; it is important that the right amount of capital is at hand so that you would not have challenges starting the business. Many entrepreneurs have fantastic business ideas but due to lack of capital have been unable to bring their ideas to reality which is why even though sourcing for capital isn't an easy task.

Ensuring that there is a business plan at hand makes it easier for the entrepreneur to not only find out how much will be needed to start and run the business to sustainability but also to convince external investors of how serious and committed the entrepreneur is about the business.

Some of the financing options that you can explore when looking to start your toy store include;

Generating part of your startup capital from personal savings and sale of stock

Sourcing for soft loan from your family members and friends

Applying for loan from the commercial bank

Getting a business partner to share the startup capital with

Choosing a Suitable Location for your Toy Store Business

Where you intend to locate your business is very important in how your goals and objectives will be quickly realized. The impact a location has on a business especially one that is competitive in nature is why many entrepreneurs take their time to get an appropriate location for their business.

Most toy stores are usually run out of a storefront and if this is what you intend to do; you should ensure that the landlord has obtained a valid Certificate of Occupancy (CO) that confirms that government regulations, zoning laws as well as the building codes have all been met before your lease payments commences. If you are going to carry out major renovations before starting up your toy store, you should ensure that a new CO is issued before commencing lease payments.

If you are looking to purchase or build a location by yourself, then you should consider engaging the services of a real estate agent as they will have the best idea about the appropriate location to buy your land especially as they have information concerning zoning requirements. You should ensure that the real estate agent has an idea about the budget you have for a location.

If you are going to be purchasing or building a location, then obtaining a valid CO from the local government authority will be your own responsibility. You will also need to ensure you review all building codes in order to ensure that your toy store is in compliance.

Ensure that your location is in an area where there are lots of foot traffic and where customers can easily access it.

Starting a Toy Store Business Online - Technical and Manpower Details

There are a variety of skills needed for entrepreneurs who are looking to open a toy store business because you must not only have the personal experience as a toy collector but you must also be enthusiastic and knowledgeable about the business and industry trends if you intend to have a competitive edge over your competitors. Having experience from working previously in a toy store especially in a managerial capacity will be very helpful when looking to start your toy store business.

The exact amount that you will need in order to start your toy store business will depend on certain factors and one of them is location because some locations are more expensive when renting and so while it is necessary to ensure that your location is close enough to attract your intended target market, it shouldn't cost so much especially as it will be a while before the business can generate enough revenue to cover overhead as well as running expenses.

The basic way to make money when running a toy store is to order for toys, add your markup and then sell the toys, thereby making profit on each toy sold. However, this doesn't mean that the money will be coming in steadily especially as you will have to compete against other brick and mortar stores and also online stores and so in order to ensure that you have a steady stream of customers, you should focus on offering personalized services to your customers such as home deliveries, free storage or offering layaway plans.

There are a variety of expenses that running a toy store incurs and such expenses deal with include; monthly rent, business insurance, telephone and other utilities, advertisement costs, signage costs and any other additional decoration that you intend to carry out on your toy store. You must also take into consideration how many employees you intend to hire and how much you intend to pay them.

It is important that you build a solid business structure for your toy store business. The number of employees that you intend to have will depend on the size of your toy store as well as your own budget.
The Service Delivery Process of a Toy Store
In operating a toy store, the day starts very early as the store has to be open during regular business hours, which means that as the entrepreneur, you have to ensure that the store is organized, presentable and waiting for customers.

Once customers start to come in, time has to be spent in helping the customers find the perfect toy. You will also need to patrol the aisles, organize and clean them especially as there will be toys lying around left by children who didn't put it back on the shelf.

Keeping abreast of trends in the industry in order to know what to order and when to order it is vital in running a toy store. Customers that come into the store have to either pay for and pick up the toys immediately or pay online and have it delivered to their preferred destination at certain points in time.
Starting a Toy Store Business Online - The Marketing Plan
No one starts a business with the hope that the intended target market will take notice of the business without any sort of effort from the entrepreneur. Even if customers notice the business, the rate at which they will respond might be slower than if you had actively engaged their interest in the business through promotion; this is why marketing is considered as very important to a business attaining its intended goals and objectives.

Marketing involves anticipating the needs of the entrepreneur and ensuring that these needs are being met and the only way this can be achieved successfully is to conduct a market survey of the overall demographics. A market survey identifies who the potential customers of the business will be, what their expectations are; who the competitors are, where they are and what share of the market they are in control of. In essence, marketing enables a business to penetrate the market, get its fair share whilst also competing against existing competition.

It is after one has done a thorough market survey that overall marketing objectives can be set. This is the only way through which marketing strategies can become effective for a business. Just creating marketing strategies will see you wasting a lot of time and resources because most of them will not be effective.

One factor that will ensure that your marketing strategies become more effective is where you are going to locate your business. The location of one's business is very critical to the revenue that the business will generate as being in a visible location will mean that customers will continually remain aware of your toy store.

Below are some of the marketing ideas and strategies that you can use for your toy store;

Creating a user-friendly website and promoting it in search engines in order to increase customer awareness

Advertise your toy store through newspapers, radio and television ads

Have a social media presence such as a Facebook page in order to increase awareness for your toy store

Sell your products via online ecommerce platforms such as Amazon and eBay

Install flexi banners in strategic locations in order to increase awareness for your toy store

Advertise your toy store in popular online forums such as Reddit

Strategies to Boost Your Toy Store Brand Awareness and Create Your Corporate Identity
The toy store industry is dominated by a lot of popular stores and so in order to get the attention of your intended target market, you will need to engage in lots of activities that will ensure that you not only boost awareness for your brand but that you are also able to create a corporate identity for your company. However, before any promotional activity can be considered effective, it is necessary that you have carefully thought out strategies in place.

When boosting up awareness for your brand, it is best that you know who your target market is and where they are likely to visit because not knowing these two factors would mean that you will be promoting your business without achieving the right results and so as an entrepreneur, you should realize that whatever you spend on your brand should yield the right results.

Promoting one's business not only brings awareness for the brand but it also ensures that through the awareness, the business is able to generate the revenue it will need in growing and sustaining itself. Companies from all over the world, especially those that are considered successful, usually set aside a substantial amount of money in order that they might be able to engage in activities that will continually boost their image.

Technology has enabled entrepreneurs to be able to push their business beyond traditional means as the internet has made it easier to reach out to customers.

Some of the strategies that you can use to boost awareness for your brand whilst also creating your corporate identity include;

Distributing handbills and fliers in various strategic locations such as parks and close to schools

Installing a flexi banner in strategic locations in order to create awareness about your toy store

Engaging in and sponsoring one or two community events in order to increase awareness for your toy store

Making use of social media platforms such as Facebook and Twitter to increase awareness for your toy store

Provide a separate webpage that provides additional information and allows customers to leave reviews in a way to promote your business

Advertising in local newspapers and related magazines as well as on radio and television stations

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Do you want to start a toy store online? If YES, here is a complete guide to starting a toy store business with NO money and no experience. Okay, so we have provided you an in-depth sample toy store business plan template.

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How to Start a Toy Store Business

Opening a toy store is a way for an entrepreneur to make a living while putting smiles on children's faces. Toy and hobby stores account for more than $20 billion in annual revenues, projecting continued growth in the immediate future. Although many opportunities exist for success with a toy store, a business owner needs to carefully research what's necessary to establish a niche, and then to market the product to successfully compete in a digital arena.

Business Plan: Toy Niche

Before you go into business and invest any money, do your due diligence as to what's necessary to succeed in your selected market with your product line. Although the industry is booming, it is also highly congested. Big box stores such as Walmart and low-overhead online stores are able to undercut toy prices, making it rough for small brick-and-mortar stores to compete for customers.

This is why your business plan needs to look beyond market basics. You need to consider specific niche markets and create a personalized experience for consumers. For example, your market research may tell you that consumers have a desire to buy genuine wood toys and have access to the hobby materials to make them.

Finding Wholesale Agreements

Contact the manufacturers and wholesale distributors of the toys you are interested in featuring in your store. Don't simply negotiate a price. Speak to the distributor about what are successful products and about what is and is not working. Use your manufacturers' and distributors' experience to stock shelves with products that will generate sales. Also ask them about products that big-box stores may overlook. If you are able to get an exclusive deal for a specific toy that then takes off in sales, that toy can become the sales instigator for all other items in the store.

Establish the Toy Store Entity

Every business in operation must become a legal business entity in the state in which it operates. Choose whether you will operate as a limited liability company (LLC) or as a corporation. Both get registered with your state's secretary of state office. Choose a name that doesn't compete with other toy stores but is a memorable for the market. You want consumers to remember what you do - and that often starts with the name.

Register and pay the necessary fees, and then wait for the articles of organization or corporation. Once you have that, get a Tax Identification Number (TIN) with the Internal Revenue Service (IRS) by completing Form SS-4. Establish state tax numbers and establish payroll and insurance accounts.

Competing With Big Chains

Starting a small online toy store might not cost more than two thousand dollars; if you don't need to buy inventory, it could cost less. Obviously, a physical store requires more financial commitment, because you need to pay rent, purchase inventory and hire employees. To be able to compete with the big national chains and online discount behemoths, establish a hook. For example, toy stores that market directly to specialized parent groups and offer a personalized experience become cornerstone stores in small communities.

Smart retailers that offer popular kid's card games such as Pokemon hold tournaments that bring people in with their kids buying into the tournament, buying more cards, and buying trinkets, with parents perusing other items while they're waiting for their kids to finish. Once people become regulars in a store, often, they will buy from you - even if you aren't always the least expensive.

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The toy store industry is a huge but competitive market. Find a niche and get favorable wholesale contracts to compete with discount retailers in big stores and online arena. Choose whether you will operate as an LLC or a corporation; both get registered with your state's secretary of state office.

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So you've got a toy concept and you're sure it will be a hit - that's a good start, but it will probably be the easiest part of going to market. From there you'll have to make prototypes, persuade a toy company to buy or license your idea, or - for those who like to blaze their own trail - find manufacturers and distributors who can produce the toy and get it on shelves. And don't forget about business plans, marketing, and finance.

It's a hard road, but hardly impossible. The following five experts have found success with their toy creations, and have supplied their tips and advice to help smooth a successful toy-making pathway for you.

Makie Dolls - Alice Taylor

Our product is Makies, the doll you make your-self. Makies are (currently) fully 3D-printed, and customized by their owners, who choose and create their own facial features, skin color, eye color, hairstyle and color, clothing - even hand and foot poses.

The idea began in 2010. I drew a few dolls, and sent some sketches to a talented 3D modeler that I found on the Shapeways forum. He modeled up the sketches into 3D using Rhino; we then jointed the doll's limbs, and I sent the final model off to iMaterialise for printing. An 18-inch, bald, eyeless marionette came back, and it cost me 220 euros. That was enough to decide that this could one day be a business.

Since then we've been iterating live with customers. We put Makies live in minimum viable product in mid-2012. We experimented with skin color by boiling all-white printed dolls in tea and coffee. We have Cubes and MakerBots in the office, and we prototype daily on them, printing shoes, jewelry, pets, and more.

The team is now 16 people strong. We use 3D Studio Max, Unity, Solidworks, and Adobe Creative Suite software. We print each doll on-demand and send it direct to the customer's home.

Tips:

GoldieBlox - Debbie Sterling

I created GoldieBlox as a way to bridge the gender gap in STEM fields. The toys introduce engineering concepts through storytelling and building, and kids build alongside Goldie, a girl engineer who solves problems by building simple machines. The first story follows Goldie as she builds a spinning machine to help her dog chase his tail.

I wrote and illustrated it myself, and the prototype was made from wood and materials around my apartment. Once the idea was finalized, we put it on Kickstarter. Within four days, we raised more than $258,000, surpassing our goal and allowing us to start production. We now have several toys available at Toys R Us, Amazon, and more than a thousand retailers nationwide, and we're excited to release three more this month: GoldieBlox and the Movie Machine, GoldieBlox and the Builder's Survival Kit, and our very first action figure of Goldie (who comes with a zip line!).

Tips:

Dino Construction Company - Bruce Lund

Dino Construction Company came out of a conversation more than 20 years ago about favorite toys. Dinosaurs and construction vehicles were two of my most memorable.

We wondered what it might look like if they were combined. We did a couple sketches, including one called TWrex, and showed them to a few companies. They elicited no interest.

We stumbled back upon that sketch every few years and always loved the look. Finally, two decades later, we decided to build one and added a motor, sound effects, and what we called "seek and eat technology." (Top secret, can't say more.) Many toy companies loved it, but no one needed such a thing. It wouldn't fit in their existing line, or it was too expensive - for one reason after another, it was always a "pass."

We realized that to sell it, we would have to make a line of them, so we built four or five other Dino vehicles, including smaller ones so they'd be less expensive. Still no luck. Our database indicates we showed it 57 times since 2007, the first year we used a database to keep records.

Then one day we had a meeting with a small educational toy company. Someone on our team thought to present them this product, and they loved the look. Go figure. I probably never would have thought to show them that product. They took out all the mechanics and electronics, and made it "kid powered." And kids love them.

Tips:

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Robot Turtles - Dan Shapiro

Robot Turtles is a board game that teaches programming to preschoolers. It didn't start out that way, though. It was born on a lazy weekend last year when I was trying to think of something fun and different to do with my 4-year-old twins. Version 1.0 was inkjet printouts. My kids loved it, so I told friends who thought the game was a great idea. I upgraded to photo paper and a laminator and shared copies with coworkers at Google. Then I decided to get a little more serious, hiring an artist on oDesk, ordering prototypes on The Game Crafter, and rebranding to "Robot Turtles" in honor of the programming language, Logo.

Finally I decided to see if there was enough interest on Kickstarter to warrant a real production run. There was: Robot Turtles became the bestselling board game in Kickstarter history and is now available in stores.

Tips:

Hog Holler - Bob Knetzger

As an independent toy inventor for the last 30 years, I've worked hard to come up with ideas that could be licensed to toy companies. Here's a case study of a toy idea from blank paper all the way to TV commercial:

Once while listening to a droning lecture my mind wandered. Is there any use for these boring sounds? Maybe I could get the vibration of a sound to make something move. Model train layouts have featured cows that move by vibration and Tudor Games sells vibrating electric football platforms. Could I use the vibration from just the sound of your voice to power a game? I wrote the idea down and made a few sketches while I was thinking about it.

Later, I did some quick plans to work out the design, then went right to a prototype. I built wooden forms, heated plastic in my kitchen oven, and used a Shop-Vac to vacuum-form some plastic parts.

I assembled the parts into a quick prototype, and it worked. By yelling into a tube, your voice would sympathetically vibrate a thin plastic track and propel your "pig" token, skittering along like a vibrobot - but voice powered.

My business partner and I showed the idea to several toy companies - and got rejected. At last, Ohio Art (the Etch A Sketch company) licensed the design and produced it. Hog Holler was on the shelves in toy stores and on TV with a cute commercial. Johnny Carson and Ed McMann even played it on The Tonight Show.

Tips:

Look for the random connection anywhere. One idea can lead you to another. Even a boring lecture hall can be an inspiration.

Keep a notebook. Write down and sketch your ideas. (For more on ideation and design sketching, see my article, "Industrial Design for Makers" in Make: Volume 32.)

Make a quick prototype of your idea. Fail early and often. You, too, can quickly vacuum-form plastic parts. (See Make: Volume 11 for my step-by-step DIY article.)

Keep your beginner's mind. Any really new idea seems silly at first. Don't talk yourself out of it - "Oh, that'll never work. We tried that before. That's not how we do it" - that one crazy idea might just work.

Don't give up. Be persistent!

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So you've got a toy concept and you're sure it will be a hit - that's a good start, but it will probably be the easiest part of going to market.

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Find all your favorite toy brands in one spot, including Nerf, My Little Pony, Transformers, and more! View action figures, dolls, electronic games, board games, and so much more today! Explore our brands below, or find toys based on age group.

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Kids Toys, Action Figures, Toys Online - Hasbro

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Find all your favorite toy brands in one spot, including Nerf, My Little Pony, Transformers, and more! View action figures, dolls, electronic games, board games, and so much more today! Explore our brands below, or find toys based on age group.

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From babies and toddlers to preschoolers and older kids, everyone can enjoy the benefits of playing with toy animals. Animal names and sounds are often some of the earliest babies learn to recognize and speak when you play along with them.

Toy animals instantly spark kids' imagination and they can teach your young caretaker so much about their world, emotions, empathy and friendship and help develop their creative thinking.

LEGO® toy animals are designed be safe, sturdy, colorful and full of personality! Whether your child loves dinosaurs, horses or sharks, or all of the above, they can build and create their own world with room for all their favorite pets or wild animals. Just look for age markings on the box to find the perfect set that fits your young toddler's small hands or your older child's endless imagination and building skills!

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Find the perfect LEGO® Animal Toys for Creative Boys and Girls, Toddlers and Older kids

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From babies and toddlers to preschoolers and older kids, everyone can enjoy the benefits of playing with toy animals. Animal names and sounds are often some of the earliest babies learn to recognize and speak when you play along with them.

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Mattel, Inc. | The Official Home of Mattel Toys and Brands

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We empower the next generation to explore the wonder of childhood and reach their full potential.

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Enter the Access ID and Passcode provided by your school to access Britannica School.