Are you about starting a toy manufacturing company? If YES, here is a complete sample toy manufacturing business plan template & feasibility report you can use for FREE. Okay, so we have considered all the requirements for starting a toy manufacturing company. We also took it further by analyzing and drafting a sample toy manufacturing marketing plan template backed up by actionable guerrilla marketing ideas for toy manufacturing companies. So let’s proceed to the business planning section.

Why Start a Toy Manufacturing Business?

Starting a business might not come cheap, but one thing is certain, if you are able to successfully launch a viable business, you will definitely be glad you did. This is so because starting a business of your own is one sure way of becoming financially stable.

Business ideas are all around us but one of the challenges that aspiring entrepreneurs are confronted with is how to know a business that can become profitable and successful.

The rule of thumb in choosing a business to launch is to look out for a business whose products or services are needed in our everyday life; a business whose products can be purchased by the rich as well as the poor and a business that is less competitive in your location.

One of such businesses is a toy manufacturing business. Toy manufacturing business is indeed a profitable and thriving business that an aspiring entrepreneur with the required startup capital can successfully launch and grow from scratch to profitability.

If you are interested in starting a toy manufacturing company, then you would find this sample toy manufacturing company business plan template highly useful.

A Sample Toy Manufacturing Business Plan Template

1. Industry Overview

Toy manufacturing business falls under the Toy, Doll and Game manufacturing industry and this industry is made up of companies that manufacture dolls, doll accessories, action figures, toys, games (including electronic), hobby kits and children’s vehicles (except metal bicycles and tricycles).

If you take a closer look at the Toy, Doll and Game manufacturing industry, you will realize that operators in the industry have experienced a challenging operating environment over the past five years. This is because price competition in this industry is high, domestic players in the industry having been forced to reduce prices to compete with inexpensive imports sourced from developing countries with low-labor costs.

As a labor-intensive industry, imported products have a significant advantage because foreign manufacturers are able to pass low production cost savings onto the consumer in the form of low product selling prices. As a result, domestic operators have been forced to settle for lower profit margins to compete with low-cost imports. The industry is expected to continue declining, albeit more slowly, over the five years to 2022.

The Toy, Doll and Game Manufacturing industry is indeed a thriving and viable business in most countries of the world (united states of America, Italy, France, Japan, United Kingdom, China and India et al). Statistics has it that in the united states of America alone, the Toy, Doll and Game Manufacturing industry generates over $2 billion annually from more than 595 registered and licensed big toy, doll and game manufacturing companies scattered all around the United States of America.

The industry is responsible for the employment of over 6,254 people. Experts project the toy, doll and game manufacturing industry to grow at a -3.1 percent annual rate. The establishments in this industry that have dominant market shares in the United States of America are Cartamundi and K’NEX.

According to report published by IBISWROLD, the Toy, Doll & Game Manufacturing industry is in the declining stage of its life cycle. Although decline in industry revenue is expected to decelerate over the five years to 2022, IBISWorld expects that industry value added (IVA), which measures an industry’s contribution to GDP, will decline at an annualized rate of 2.1 percent over the 10 years to 2022.

This indicates a rapid decline, as compared with an expected growth rate of 2.1 percent for GDP during the same period. Enterprises in this industry will continue to decline as the industry consolidates and operators exit the industry in response to a high level of import penetration. A rise in imports is expected to continue, aided by a strengthening US dollar.

Over and above, the toy, doll and game manufacturing industry is a profitable industry and it is open for any aspiring entrepreneur to come in and establish his or her business; you can choose to start on a small scale or you can choose to start on a large scale with standard toy, doll and game manufacturing factories both in the United States of America and in countries in Asia where you can get cheaper labor and raw materials.

2. Executive Summary

Mario Leo® Toys & More, Inc. is a registered toy, doll and game manufacturing company that will be located in Santa Fe – New Mexico; in an ideal location highly suitable for the kind of manufacturing business we want to establish. We have been able to lease a facility that is big enough (a 20 thousand square foot facility) to fit into the design of the kind of standard toy, doll and game manufacturing company that we intend launching.

Mario Leo® Toys & More, Inc. will manufacture a wide range of toys, dolls and games. We will be involved in the designing and manufacturing of action figures, dolls, doll parts and doll clothing, stuffed toys, children’s automobiles, crafts and hobby kits, children’s and adult games, science kits, toy and hobby models and video game machines. We are set to services a wide range of clientele not just in the United States of America, but also in all parts of the world.

We are aware that there are several doll and game manufacturing companies all around the United States of America, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to be well positioned to favorably compete with all our competitors.

Mario Leo® Toys & More, Inc. will ensure that all the toys, dolls and games that leaves our factory are of the highest quality and highly durable and affordable. We want to build a business with a wide range of clientele base cut across people of different financial status. We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large they are.

Mario Leo® Toys & More, Inc. will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible. We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely whenever they patronize our products.

Mario Leo® Toys & More, Inc. is a family business that is owned by Mario Leo – Einstein and his immediate family members. Mario Leo – Einstein has a Degree in Computer Animation and Graphics, with over 15 years’ experience in the manufacturing industry. She will be bringing in her vast experience to help build Mario Leo® Toys & More, Inc. to become an international brand.

3. Our Products and Services

Mario Leo® Toys & More, Inc. is in the toy, doll and game manufacturing industry to manufacture a wide range of toys, dolls and games. We are set to services a wide range of clientele not just in the United States of America, but also all parts of the world, which is why we will ensure we go all the way to give our clients and potential clients options.

We will do all that is permitted by the law of the United States to achieve our business goal, aim and ambition. Our product offerings are listed below;

  • Manufacturing action figures
  • Manufacturing dolls, doll parts and doll clothing
  • Manufacturing stuffed toys
  • Manufacturing children’s automobiles
  • Manufacturing crafts and hobby kits
  • Manufacturing children’s and adult games
  • Manufacturing science kits
  • Manufacturing toy and hobby models
  • Manufacturing video game machines 

4. Our Mission and Vision Statement

  • Our vision is to become the number one choice for children and one of the leading brands in the toy, doll and game manufacturing industry in the United States of America.
  • Our mission is to establish a world – class toy, doll and game manufacturing company whose products will not only be retailed in the United States of America, but also be exported to other countries of the world.

Our Business Structure

Our intention of starting a toy, doll and game manufacturing company is to build a standard and one-stop manufacturing company in Santa Fe – New Mexico. Although our toy, doll and game manufacturing company might not be as big as Cartamundi and K’NEX et al, but we will ensure that we put the right structures in place that will support the kind of growth that we have in mind while setting up the business.

We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders. As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more.

In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

  • Chief Executive Officer (Owner)
  • Factory Manager
  • Human Resources and Amin Manager
  • Merchandize Manager
  • Sales and Marketing Manager
  • Toys, Dolls & Game Designers and Machine Operators
  • Accountants/Cashiers
  • Customer Service Executive

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

  • Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
  • Builds, connects, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Accountable for fixing prices and signing business deals
  • Accountable for providing direction for the business
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization

Admin and HR Manager

  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
  • Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
  • Defines job positions for recruitment and managing interviewing process
  • Carries out induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Oversees the smooth running of the daily office activities

Factory Manager:

  • Responsible for managing the daily activities in the toy, doll and game manufacturing factory
  • Ensures that proper records of toys, dolls and games and other related products are kept and warehouse does not run out of finished products
  • Ensures that the factory is in tip top shape and easy to locate
  • Controls toys, dolls and games distribution and supply inventory
  • Supervises the workforce in the toy, doll and game manufacturing factory

Merchandize Manager

  • Manages vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
  • Helps to ensure that quality raw materials are purchased and used for the manufacturing of toys, dolls and games
  • In charge of planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
  • Ensures that the organization operates within stipulated budget

Sales and Marketing Manager

  • Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
  • Models demographic information and analyze the volumes of transactional data generated by customer purchases
  • Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
  • Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Develops, executes and evaluates new plans for expanding sales
  • Documents all customer contact and information
  • Helps to increase sales and growth for the company

Toy, Doll and Game Designers and Machine Operators

  • Responsible for designing and manufacturing of action figures
  • In charge of designing and manufacturing of dolls, doll parts and doll clothing
  • In authority of designing and manufacturing of stuffed toys
  • Liable to design and manufacture children’s automobiles
  • Accountable for designing and manufacturing of crafts and hobby kits
  • Responsible for designing and manufacturing of children’s and adult games
  • Responsible for designing and manufacturing of science kits
  • Responsible for designing and manufacturing of toy and hobby models
  • Responsible for designing and manufacturing of video game machines

Accountant/Cashier:

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensures compliance with taxation legislation
  • Handles all financial transactions for the organization
  • Serves as internal auditor for the organization

Client Service Executive

  • Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
  • Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
  • Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
  • Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make inquiries

6. SWOT Analysis

Mario Leo® Toys & More, Inc. is in business to become one of the leading toy, doll and game manufacturing companies in the United States of America and we are fully aware that it will take the right business concept, management and organizational structure to achieve our goal.

We are aware that there are several toy, doll and game manufacturing companies all over the United States of America and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be welled equipped to confront our threats.

Mario Leo® Toys & More, Inc. employed the services of an expert HR and Business Analyst with bias in the manufacturing industry to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives.

This is the summary of the SWOT analysis that was conducted for Mario Leo® Toys & More, Inc.;

  • Strength:

Our core strength lies in the quality of our finished products, the power of our team and the state of art and well – equipped toy, doll and game manufacturing factory that we own. We have a team of highly trained designers and support staff members that can go all the way to produce high quality toys. We are well positioned in the heart of Santa Fe – New Mexico and we know we will attract loads of clients from the first day we open our manufacturing company for business.

  • Weakness:

A major weakness that may count against us is the fact that we are a new toy manufacturing company and we don’t have the financial capacity to compete with multi – million manufacturing companies like Cartamundi and K’NEX et al. So also, we may not have enough cash reserve to promote our brand the way we would want to do.

  • Opportunities:

The fact that we are going to be operating our toy, doll and game manufacturing company in Santa Fe – New Mexico provides us with unlimited opportunities to sell our products to a large number of individuals. We have been able to conduct thorough feasibility studies and market survey and we know what our potential customers will be looking for when they visit our warehouse.

  • Threat:

One of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing/spending power. Another threat that may likely confront us is the arrival of a new manufacturing company in same location where ours is located. So also, unfavorable government policies may also pose a threat for businesses such as ours.

7. MARKET ANALYSIS

  • Market Trends

If you take a closer look at the toy, doll and game manufacturing Industry, you will realize that stagnant product prices and of course key demographic variables have affected the industry over the years. Surprisingly, growth in the number of children has not been sufficient to compensate for stagnant prices.

Going forward, wealth gains resulting from increases in per capita disposable income and improvements in equity markets will positively impact couples’ decisions to have children hence demand for toys, dolls and games.

Large toy, doll and game manufacturing companies have economies of scale in distribution and marketing and small scale toy, doll and game manufacturing companies can compete successfully by targeting low income earning brackets in the society.

Domestic operators have been forced to settle for lower profit margins to compete with low-cost imports and many Chinese-manufactured toys have been recalled due to unsafe levels of lead and choking hazards. Lastly, as part of marketing strategies, toy, doll and game manufacturing companies ensure that they are always improvising and following the trends if indeed they want to maintain their market share in the industry.

8. Our Target Market

Toys and dolls and even games are used by children and in some cases teens and adults (video games et al) all over the world and there are various toy, doll and game manufacturing companies whose products are not only sold in their host countries but are exported to other countries of the world. It is a fact that toys, dolls and games are used by the children of the rich as well as the children of the poor.

In view of that, we have positioned our company to service the clientele in the United States of America and other parts of the world. We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us.

We are in the toy, doll and game manufacturing industry to manufacture a wide range of toys, dolls and games for the following people;

  • Children
  • Babies
  • Teens (Video Games)
  • Adult (Video Games)

Our competitive advantage

A close study of the toy, doll and game manufacturing industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative with your designs and market approach, be customer centric and proactive if you must survive in this industry. We are aware of the stiffer competition and we are well prepared to compete favorably with other leading manufacturing companies in the United States and the globe.

Mario Leo® Toys & More, Inc. is launching a standard toy, doll and game manufacturing company that will indeed become the preferred choice of residents of Santa Fe – New Mexico and every other location where we intend marketing our products. Our company is located in an ideal property highly suitable for the kind of manufacturing company that we want to run.

Our competitive advantage lies in the high quality of our finished products, the power of our team and the state of the art manufacturing factory that we own. We have a team of highly trained and experienced designers and support staff members that can go all the way to produce high quality toys, dolls and games. We are well positioned in the heart of Santa Fe – New Mexico and we know we will attract loads of clients from the first day we open our company for business.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives. We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.

9. SALES AND MARKETING STRATEGY

  • Sources of Income

Mario Leo® Toys & More, Inc. is in business to manufacture and retail a wide range of toys, dolls and games in the United States of America and other parts of the world. We are in the toy, doll and game manufacturing industry to maximize profits and we are going to go all the way out to ensure that we achieve or business goals and objectives.

In essence, our source of income will be the manufacturing and retailing of a wide range of toys, dolls and games at affordable prices. Mario Leo® Toys & More, Inc. will generate income by selling the following products;

  • Manufacturing action figures
  • Manufacturing dolls, doll parts and doll clothing
  • Manufacturing stuffed toys
  • Manufacturing children’s automobiles
  • Manufacturing crafts and hobby kits
  • Manufacturing children’s and adult games
  • Manufacturing science kits
  • Manufacturing toy and hobby models
  • Manufacturing video game machines

10. Sales Forecast

One thing is certain, if you are into the manufacturing or various types of toys, games and dolls, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.

We are well positioned to take on the available market in the United States of America and of course the rest of the world and we are quite optimistic that we will meet our set target of generating enough income/profits from our first six months of operation and grow the business and our clientele base.

We have been able to critically examine the industry, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in Santa Fe – New Mexico.

Below are the sales projections for Mario Leo® Toys & More, Inc., it is based on the location of our business and other factors as it relates to toy, doll and game manufacturing startups in the United States;

  • First Fiscal Year: $350,000
  • Second Fiscal Year: $750,000
  • Third Fiscal Year: $1 million

N.B: This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor manufacturing or retailing same products and customer care services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

  • Marketing Strategy and Sales Strategy

Before choosing a location to launch Mario Leo® Toys & More, Inc. we conducted a thorough market survey and feasibility studies in order for us to penetrate the available market and become one of the preferred choice for consumers not only in Santa Fe – New Mexico, but also throughout the United States and the globe. We have detailed information and data that we were able to utilize to structure our business to attract the number of customers we want to attract per time.

We hired experts who have good understanding of the industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in the United States of America. In other to continue to be in business and grow, we must continue to manufacture and sell our toys, dolls and games which is why we will go all out to empower our sales and marketing team to deliver.

In summary, Mario Leo® Toys & More, Inc. will adopt the following sales and marketing approach to win customers over;

  • Open our toy, doll and game manufacturing company in a grand style with a party for all.
  • Introduce our toy, doll and game manufacturing company by sending introductory letters alongside our brochure to organizations, households and key stake holders in Santa Fe – New Mexico and other parts of the United States
  • Ensure that we manufacture a wide range of toys, dolls and games
  • Make use of attractive hand bills to create awareness and also to give direction to our retailing outlets
  • Position our signage/flexi banners at strategic places around Santa Fe – New Mexico
  • Position our greeters to welcome and direct potential customers
  • Create a loyalty plan that will enable us reward our regular customers
  • Engage in roadshows within our neighborhood to create awareness for our toy, doll and game manufacturing company and retail outlets
  • List our business and products on yellow pages ads (local directories)
  • Leverage on the internet to promote our business
  • Engage in direct marketing and sales
  • Encourage the use of Word of mouth marketing (referrals)

11. Publicity and Advertising Strategy

Despite the fact that our toy, doll and game manufacturing company and retail outlets are well located, we will still go ahead to intensify publicity for the business. We are going to explore all available means to promote our company.

Mario Leo® Toys & More, Inc. has a long term plan of opening our outlets in various locations all around Santa Fe – New Mexico and other key cities in the United States and Canada which is why we will deliberately build our brand to be well accepted in Santa Fe – New Mexico before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand. Here are the platforms we intend leveraging on to promote and advertise Mario Leo® Toys & More, Inc.;

  • Place adverts on community based newspapers, radio and TV stations
  • Encourage the use of word of mouth publicity from our loyal customers
  • Leverage on the internet and social media platforms like YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Google+ and other platforms to promote our business
  • Ensure that we position our banners and billboards in strategic positions all around Santa Fe – New Mexico
  • Distribute our fliers and handbills in target areas in and around our neighborhood
  • Contact corporate organizations, households, landlord associations and schools by calling them up and informing them of Mario Leo® Toys & More, Inc. and the products we manufacture and sell
  • Advertise our toy, doll and game manufacturing company and showroom in our official website and employ strategies that will help us pull traffic to the site
  • Brand all our official cars and trucks and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals

12. Our Pricing Strategy

Aside from quality, pricing is one of the key factors that gives leverage to a toy, doll and game manufacturing company, it is normal for consumers to go to places where they can get toys, dolls and games at cheaper prices which is why big players in the industry like Cartamundi and K’NEX et al. will always attract loads of clients.

We know we don’t have the capacity to compete with Cartamundi and K’NEX et al, but we will ensure that the prices and quality of all our products are competitive with what is obtainable amongst toy, doll and game manufacturing companies within our level.

  • Payment Options

The payment policy adopted by Mario Leo® Toys & More, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Mario Leo® Toys & More, Inc. will make available to her clients;

  • Payment via bank transfer
  • Payment with cash
  • Payment via Point of Sale Machine (POS)
  • Payment via online bank transfer
  • Payment via check
  • Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for the purchase of our products without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who purchase our products.

13. Startup Expenditure (Budget)

Starting a manufacturing cum production business requires detailed planning and budgeting hence the need for us to carry out a thorough market research and feasibility studies in order for us to have a clear estimate of the amount needed to launch the business and the areas in which we will spend the money.

In view of that, here are the key areas where we will spend our startup capital on;

  • The Total Fee for Registering the Business in the United States of America – $750.
  • Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
  • Marketing promotion expenses for the grand opening of Mario Leo® Toys & More, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
  • The total cost for hiring Business Consultant – $2,500.
  • The total cost for payment of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $9,400.
  • The total cost for long – term leasing of a standard manufacturing factory and warehouse – $250,000
  • The total cost for remodeling the manufacturing factory and warehouse – $20,000.
  • Other start-up expenses including stationery ($500) and phone and utility deposits – ($2,500).
  • Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $100,000
  • The total cost for Start-up inventory (purchase of toys, dolls and games making tools and equipment and the purchase of toys, dolls and games making raw materials inclusive) – $150,000
  • The total cost for counter area equipment – $9,500
  • The total cost for store equipment (cash register, security, ventilation, signage) – $13,750
  • The total cost for the purchase and installation of CCTVs: $10,000
  • The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al): $4,000.
  • The total cost of launching a website: $600
  • The total cost for our opening party: $7,000
  • Miscellaneous: $10,000

We would need an estimate of $750,000 to successfully set up our toy, doll and game manufacturing business in Santa Fe – New Mexico.

Generating Startup Capital for Mario Leo® Toys & More, Inc.

Mario Leo® Toys & More, Inc. is a private registered family business that is solely owned and financed by Mario Leo and his immediate family members. They do not intend to welcome any external business partner which is why he has decided to restrict the sourcing of the startup capital to 3 major sources.

These are the areas we intend generating our startup capital;

  • Generate part of the startup capital from personal savings
  • Source for soft loans from family members and friends
  • Apply for loan from the bank

N.B: We have been able to generate about $250,000 (Personal savings $200,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $500,000 from our bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business close shop.

One of our major goals of starting Mario Leo® Toys & More, Inc. is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to manufacture durable and quality toys, dolls, and games and to retail our wide range of products a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Mario Leo® Toys & More, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare is well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of six years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

  • Business Name Availability Check: Completed
  • Business Registration: Completed
  • Opening of Corporate Bank Accounts: Completed
  • Securing Point of Sales (POS) Machines: Completed
  • Opening Mobile Money Accounts: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Leasing and remodeling the facility: In Progress
  • Conducting Feasibility Studies: Completed
  • Generating capital from family members: Completed
  • Applications for Loan from the bank: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents and other relevant Legal Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Graphic Designs and Printing of Promotional Materials: In Progress
  • Recruitment of employees: In Progress
  • Purchase of toy, doll and game making machines and equipment: Completed
  • Purchase of the needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business both online and around the community: In Progress
  • Health and Safety and Fire Safety Arrangement (License): Secured
  • Opening party planning: In Progress
  • Compilation of our list of toys, dolls and games that will be manufacturing: Completed
  • Establishing business relationship with vendors – suppliers of raw materials, key stakeholders and wholesale suppliers of toy, doll and game related products: In Progress
Joy Nwokoro