Do you know that you can make money buying and selling used children toys online? Yes you can! Below is a detailed guide on how to make money selling star wars children toys online. As they become more aware of the security and convenience of making purchases online, many people now buy almost everything they need over the internet.
This trend has created huge opportunities for online retail stores and individuals who engage in buying and selling goods online. Children’s toys are one of the highest selling products because there is always huge global demand for them.
If you are looking to start a profitable business that requires little or no capital and technical know-how, then you should consider buying and selling children’s toys online. This article explains in details how you can make money online buying and selling children’s toys online.
How to Make Money Buying and Selling Used Children Toys Online
First, there are various models of running the toy selling business, and three common options are given below:
- Starting your own e-commerce store for selling used and new children’s toys
- Buying used children’s toys and selling them at online retail stores
- Promoting used children’s toys as an affiliate marketer
Table of Content
- A. Starting your own e-commerce store
- B. Buying used children’s toys and selling them at online retail stores
- C. Promoting used children’s toys as an affiliate marketer
- 1. Write Your Business Plan
- 2. Carry out a Market Research
- 3. Raise Your Startup Capital
- 4. Choose a Location for Your Store
- 5. Make Your Toy Store Attractive
- 6. Employ Sales Attendant
- 7: Market Your Toys
If you have enough funds to hire a professional web developer and source a decent number of toys to start with, you can open an e-commerce store that focuses on children’s toys. This model usually requires more capital and operating costs, as you will need to hire additional individuals to work with you, and you will need a reliable courier service for delivering orders to customers.
Because children’s toys are mostly manufactured in China, you can order them in large quantities from China, since you will get them very cheap that way. On the arrival of each product, you will upload its picture and details on your e-commerce site, so that interested buyers will know more about the product before ordering.
While this Business model seems very alluring, there are many factors to be wary of. Firstly, starting a new e-commerce business means you will have to fight for recognition, especially if there are many big e-commerce stores serving your locality. But you need not worry about this if there are very few e-commerce stores serving people around you. This still does not rule out the requirement that you will spend a lot of money on advertising to attract potential customers to your store.
Secondly, starting an e-commerce store requires you to set up a reliable mode of delivery. One of the main reasons why people opt to buy what they need online is the convenience of having their orders delivered at their doorstep. So, you must be ready to deliver on this, or you will quickly lose the customers you worked hard to attract.
B. Buying used children’s toys and selling them at online retail stores
Most parents readily buy toys for their kids when they are still very small. But these toys quickly become junk when the kids grow beyond the point they no longer need them. And many houses are filled with such “useless” children’s toys.
You can make a decent income by buying used children’s toys and putting them up for sale online. Reputable online retail stores such as Amazon and Ebay as well as classified ad sites such as Craigslist are good avenues for selling used children’s toys. You can also sell at online retail stores that sell children’s toys only. Examples of such stores include Storkbrokers, Swapbabygoods, and Thredup.
An easier way to start this business is to walk into your children’s room and see if there are any toys they no longer need. Gather such toys and put them up for your first sale.
C. Promoting used children’s toys as an affiliate marketer
Another way to make money selling children’s toys online is promoting them as an affiliate marketer. Affiliate marketing is a business model in which you are paid a commission for each sale you make. So, if you have no capital to start with, you might want to consider this option, since you will not be responsible for handling transactions and delivering orders to buyers. Amazon and Walmart are examples of online retail stores that have affiliate programs.
However, to adopt this business model, you will need to have a blog or social media profile with a large audience. Better yet, you must be able to adopt other online promotion strategies (such as forum marketing) that will encourage people to buy the children’s toys you are marketing. Without a solid online marketing medium, you won’t be able to implement this model.
Starting a Toy Store – Sample Business Plan Template
If you love children and you are interested in helping them catch fun, then you should consider establishing your own toy store. The demand for children’s toys won’t abate anytime soon, as a matter of fact, with the rate at which manufacturers of children’s toys improvise their toys, it makes it more difficult for parents not to buy toys for their children.
The truth is that, the only way you can stop your child or ward from demanding for toys is for you not to take them close to a toy store, because if you did, then you have no other options than to purchase them. Starting a retail or even wholesale toy store is indeed a profitable business that requires moderate startup capital and no technical training or formal training.
Since this line of business falls under buying and selling, it makes it much easier for any entrepreneur with or without high school diploma to establish. The basic skills that are required for you to successfully run your own toy store are customer service skills, marketing skills, accounting and book keeping skills and good bargaining skills.
Now if you have done your business survey and have realized that starting a toy store is the right business for you to engage in, then you need to follow the following tips that can help you establish your toy shop from the scratch and build it to profitability within the shortest time – frame possible:
Starting a toy store like every other business requires a business plan. Although some people might not know that toy business is indeed a very big and profitable industry. You don’t need to be a toy manufacturer or wholesale distributor before you can be considered a giant in the industry.
As a matter of fact, if you have a good marketing strategy in place you can grow your retail toy store from one location to several locations all around town. So, before you open your first toy store, ensure that you develop a business plan that will help you manage and grow your business.
There are various manufacturers of toys and there are varieties of toys available in the market. For this reason, it is your responsibility to carry out a market research to discover the kind of toys that is in high demand in the city or location you intend establishing your own toy store. A good market research will enable you develop strategies that will help you penetrate the market especially if there are existing toy stores in the location you choose to start yours.
Of course, you must raise capital for you to be able to launch your own toy store. No doubt you need money to rent a store, you need money to build shelves and racks, and you need money to purchase varieties of toys as well. So, what is expected of you to do is to first draw up a budget, and then raise the capital.
There are various ways you can raise capital to finance your business; you can raise your startup capital from your savings, you can get soft loans from your family members and friends and you can get loan from your bank. The bottom line is that if you are certain that establishing a toy store is the right decision, then go all the way to raise capital to finance the business.
Another key factor that you must not joke with when planning to set up a toy store is the location to choose for the business. The report you generated from your market survey will be able to guide you to choose the most appropriate location to establish your toy store. As a matter of fact, if you are into retailing of toys, it will pay you to rent a store in a residential area or even in a shopping mall.
5. Make Your Toy Store Attractive
If your toy store is attractive, children will always compel their parents to come shop there. When designing your toy store, ensure that you paint it with very attractive colors and good cartoon characters at various spots in and around the store. It is also important to design your toy store in such a way that passersby from a distance will be able to see your toys on display. Your lighting must be on point and the environment must be welcoming. Don’t forget to be creative with the design of your shelves and toy racks.
If your toy store is relatively big, then you should consider employing several sales attendants to work with you. As a matter of fact your sales attendants should be trained so that they will be able to convince everyone that visits your store to make a purchase before leaving. They should be able to offer descriptions and directions on how the toys you have on sale operates et al.
There are various ways you can market your toy business, the first thing you need to do is to ensure that you invite parents in your area to witness the opening ceremony of your toy store. Since it is a neighborhood toy store they will be willing to be your guest. And of course they could be your first set of customers.
Another thing you need to do to market your toy business is to approach proprietors and proprietress of schools and crèches to market your toys. You can also approach churches and other religious centre to market your toys.
There you have it; the 7 surefire tips you need to follow to be able establish your own toy store business from the scratch and then build it to profitability with the shortest time frame. The truth is that if you are focused and diligent, you can grow your toy store from one location to various locations in different cities and states.
In conclusion, selling children’s toys is a very profitable business that can fetch you extra monthly income. Assess each of the models described above and go for whichever suits your pocket and capabilities.