7 Preparations for Starting a Toy Rental Business
Netgenz - Business | Businesses related to children, almost always sell well. Clothing, toys, and food are the three types of products for children that are most sought after by parents. Clothing and food have many sellers in the market. How about toys?
Toys in Indonesia are mostly imported from abroad. And the good quality and educational imported toys are usually expensive. Not all families can afford to buy, what's more, toys are only used for a short time because children get bored quickly and grow up quickly.
Here are 7 Preparations for Starting a Toy Rental Business
1. Determine the target segment
Toys are made based on the age of the wearer. Toys for babies under one year are definitely different from toys for toddlers. At a certain age, toys are different for men and women.
The first important thing to do when starting this business is to determine the age of the user. Will you concentrate on toys for babies aged 0 to one, or toddlers 3 to five? If the existing initial funds are limited, you must determine the age of this user so that the products purchased are more concentrated.
2. Survey the price of toys
After the age group is set, you can start surveying toys that match that age group. Look for toys that many parents like, or that have high learning value and are of good quality.
Surveys can be carried out online or directly at the toy store. List all the good toys, complete with the store that sold them and the prices. From this list, you already have a prediction of what toys can be obtained according to the funds you have prepared.
3. Prepare funds and start buying stock
Undeniably, this business requires fairly large capital. But the benefits given are big, you know, what's more, this business has a high repeat order rate.
If the funds you have are not large, choose toys that are much sought after by parents and have high learning value. If the toy purchased is large, you must prepare a place to store it. You don't need to rent a special room like a shophouse if you don't have the funds. Just use a warehouse or garage in the house, which needs a clean place, sufficient air circulation, and light, and is free from pests.
4. Promote and network
Stock ready? It means you have to start promoting your business. Start introducing your toy rental business to the outside world, either online or offline. Knit good communication and stay in touch with everyone to expand the network.
You can make a circular and entrust it in several schools with the right age target. Frequently taking part in the bazaar is a great way to make your business more famous. For online promos, spread them on all social media that you know. You can also join a community for parents or several online groups according to your home city.
5. Use profit wisely
If your business is going well and has made a profit, it means that what you are doing is right. But remember businesses that are just starting out still need to be maintained and redeveloped.
The profits you get will be better if used to increase your business. For example, by adding stock so that the toys you have are more varied. Or if you have a lot of toys, use the profits to rent a storage warehouse. You can't spend profits just for some consumptive things, right!
6. Take good care of toys
The toys that are contracted will definitely come back to you. Of course, the tenant must try to keep the toy from being destroyed, but there is always a risk in every business, right?
All toys that are turned over after chartering should be sterilized immediately. If something is broken, or just a loose bolt, it must be renewed until it returns to its proper function. Make sure all the toys you want to contract are in good condition, clean, and 100% safe to play with.
7. Expand to other products
If your business goes well, you can start entering products other than toys. Because the children's market has a lot of necessary equipment.
For example, a child needs a baby seat, baby box, tricycle, or stroller, right? These items are only used for a short period, so people are more efficient in renting than buying. This kind of rental actually already exists, but the business opportunity is still wide open because few provide this service.