If you are a toy collector, there is a chance that you’ve always dreamed of starting your own toy line. There is a certain joy in creating toys that will bring joy to children and adults alike. Before you do start though, you should have a set plan. Remember that building a toy company is a big investment. Here are some tips, to help you get on the right track.
1. Choose A Catchy Name
When it comes to starting a thriving business, it always starts with the name. While you could start your business without a set name, it would be a bit difficult because you will need a name to call your operation. The name needs to be as catchy as possible. It should also be easy to remember and should stick to your company’s overall image.
2. Formulate A Business Strategy
Aside from choosing a name, it is important that you formulate a business strategy. This is important because your business strategy is technically your business’ blueprint.
It is what you will follow from the very first day you set up your business, until you deem it necessary to make a new one.
3. Choose The Best Toys To Mass Produce
If you want your toy line to gain success, it is important that you choose the best toys to mass-produce. Don’t make the mistake of branching out to various toy markets, because you will be spreading yourself too thin. If you want to start your toy line business right, you should focus on one market first.
There are many types of toys that you could manufacture. You could try manufacturing stuffed toys, which are predominantly aimed at younger children ranging from two to five years old.
You could also try out the doll market. These types of toys for girls are originally aimed at younger girls, however, the target demographic has changed drastically through the years. Now some young boys and even adult collectors have taken a liking to toy dolls.
There are also the building block toy lines. The most famous of these types of toys is the Lego company, and they have dominated this market for decades. However, this does not mean you can’t try your hand at it.
Yet another great market that you could try out, is the action figure market. It is by far one of the most prevalent toys in the market, because it is not only popular with young boys and girls, the market is also heavily patronized by adult collectors. Some of the best examples of action figures are the GI-Joe and He-man action figure lines in the 1980s.
3. Take Your Branding Seriously
When it comes to marketing your toys, it all comes down to branding. Remember that there is already a myriad of toy lines out there, so it is imperative that your brand stands out. When It comes to branding, there are a myriad of ways your company could stand out.
First things first, is the packaging of your toys. Remember that one of the most important aspects of selling toys is packaging. Aside from the toy, the packaging is also one of the key aspects of attracting potential buyers. If you want to use good quality packaging for your toys you could use flexible plastic containers and boxes as containers as well.
While some people still buy their toys from stores a good number of people are moving onto online stores. It is much more efficient, and they get to buy directly from the manufacturer.
By doing so, they won’t need to pay the store’s higher price range. They could also have the toys delivered right to their doorstep. In order to fulfill this need, you should set up an efficient website for your toy line.
4. Invest In Top Quality Molds For Your Toy
When it comes to making toys, it is important that you invest in good-quality molds. Remember that your company needs to make a myriad of toys every day. This is where molding technology comes in handy. By utilizing molds, your production lines no longer need to carve or build toys out of scratch. Instead, all you need are molds, and you could create a myriad of toys in no time.
This is especially important if you choose to sell dolls or action figures. If you want to get the best kind of molding technology, you should try out RYD. It is one of the best molding companies in the world. The company specializes in two shot injection moulding, and could create your toy’s molds in record time.
- Set Up An Efficient Manufacturing Factory
Aside from quality molds, it is important that you invest in an efficient manufacturing factory. When it comes to setting up a manufacturing factory, you should forgo human workers, and have everything automated instead.
Robot arms are so much more efficient than human workers because they don’t need to take leaves or rest throughout the assembly process.
5. Don’t Rush The Process
When it comes to running any kind of business, it is very important that you don’t rush things. Nothing is more detrimental to your company’s success, than to force things. Remember that for any business to succeed, you will need to put in the resources and the effort. Most of all, you will need to put in the time.
While it is ok to hope for the best, you should not pressure yourself to make your business succeed right away. It will only stress you out, and make you feel bad. If you are adamant about making your business work, you should be willing to put in the time and the work.
When It comes to starting your own toy line, you should have a strategy. Remember that starting any kind of company takes a lot of work and resources. With these tips, you’ll be able to start your own toy line in no time.