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1.0 Introduction
At The Toy Shop, we strive to offer fun and good quality toys that kids want
to play with and that parents and grandparents feel good about buying.
Our knowledgeable staff is ready to help you find the perfect gift for that
special kid in your life, whether he's 1 or 8.
And when you've chosen that perfect item, we are happy to gift-wrap it for
free, complete with a gift tag, so that you'll be party-ready when you leave
our store.
We also offer gift cards to make birthday and holiday shopping easy! We
offer a wide range of dolls, puzzles, stuffed toys and alpha berry. We're
sure we'll have something you like!
Plus, at The Toy Shop, we have lots of toys out for demonstration so you
can try before you buy.
Want to play a round of Suspend?
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2.0 product
The main operation of our business is selling different types of toys to the 1 to 8 years’
children’s parent. The list of toys that our shop will sell that are listed as follows
1. Dolls toy
Dolls are toys that look like a human. Commonly dolls have a head, torso and a pair of
legs. In ancient times dolls are made of wood and clay. People use them for
entertainment like a puppet show. Kids enjoy watching puppet shows especially when
the puppets are fighting and talking. Dolls are much appreciated by little girls.
2. Stuffed Toys
Most stuffed toys are made out of cotton and cloth. They are cute and soft. Kids love to
hug them, sometimes they use them as a pillow and can’t sleep without them. Some
kids always carry their stuffed toy wherever they go because they feel safe with it.
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3.Puzzle Toys
Puzzle toys is one of the hardest yet educative and interesting game to play especially
for kids. By fixing the image, it will determine the ability of a child on how well they can
remember or recognize something they saw. It will enhance the memorization and
power of imagination of a child. It will also help a child to gain more patience and
determination by trying to finish the puzzle.
3. Alphaberry
Appropriate for: 18 months+
Kids love music and they love pushing buttons. Lucky for them, the Alphaberry
combines these two loves into a pint-sized Blackberry that your toddler will love playing
with. In addition to learning letters and hearing them aloud, there are four different
songs for kids to bee-bop to as well for a fantastic all-around learning experience.
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5. Electronic Toys
The electronic toys mainly work by a simple electric motor that you would typically find
in a toy. Those are really popular among children’s.
At first we will participate many trade shows, lot of fairs that are arranged in different
time in year for promoting our toy shop, initially will offer our toy at discount price to
taste our product we also give buy one and free one offer in those fairs for promotional
purpose.
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Every time we have seen that customer taste are always change that’s why our policy
would be imitative whenever we see any technological advancement we will
immediately adopt those for the betterment of our business.
3.0Technology
Web site: we will have our website, a customer can order toys for purchase in our
website, we will give them home delivery service. The customer can also can also pay
by their credit card.
The customer can return old toy they can get some lum-sum amount money or can give
some extra money and can get new toy.
We will directly sell toys to the customer, we will import toys from china because china
is the best is the best low cost provider country.
4.0 Market environment
Target market
Our target market is 1 to 8 years’ children’s parent. Basically, we have seen that
children with this age group are like to play with toys.
Business to business market
Hawker is our business to business target customer as well early mentioned that
customer can return their old toy that they purchased from us. We will sell those to
hawker, less income group people after repairing them. Our toyshop would be in Dhaka
city.
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Business to customer market
Geographic area:
As our business operation in Dhaka city we will have home delivery service as well.
Target customer:
Our targeted consumer market is 1 to 8 years’ children parent;
Income level
targeted customer income level is minimum 25000 tk per month or above.
Gender
Irrespective of gender every child loves toy, so our target consumer are both male and
female children.
Educational level
We observed that educational level of customer does not really matter, we see every
parent purchase toy for their child.
Purchasing behavior
Basically we have seen that when customer feel satisfied they show repeat purchase
behavior, for that we will give seasonal discount such as Eid-Ul-Fitr, durga puza etc.
Psychographics factor
In technological change
We know the technological advancement always happen for that we will try to upgrade
our collection year by year.
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5.0 Competitors
Don’t go looking for any Barbie Dolls in this classic, European-inspired toy
shop. Head to Geppetto’s for its collection of wooden toys from responsible
manufacturers. The shop stocks puzzles, building toys, craft sets, books
and more to please parents and kids of all ages. The shop has a well-
curated selection of toys, books and gifts designed to spark imagination in
kids of all ages. Free gift wrapping is included with all purchases.
6.0 Industry
Our toy shop is related to toy industry.
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7.0 Business Model:
Key Partners
4 group members
Employees for home delivery
Key Activities
Focus Group, door to door marketing, local advertising(cable operator)
Value Propositions
Entertainment, Enlightenment, Enhancement
Toys with home delivery
Playful, Educational, Enjoyable
Customer Relationships
Through Marketing
Providing Best Product
Better Service
Customer Segments
Children(1-8years)
Children’s Parents
Yes It Does
Single sided
Key Resources
China, Old customer
Channels
Website, billboard, newspaper
Cost Structure
Importing toy cost , Shipping cost,
transportation cost, marketing cost, employee cost
Revenue Stream
Toy Selling, Retail Price
7 51 4 2
6 3
9 8
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Description:
Value Propositions: We are satisfying the customer’s children’s need for
entertainment, enlightenment and enhancement they want their children to
be entertained, enlightened and enhanced.
Our specific products are toys which we also deliver to their homes.
Our products are playful, educational and enjoyable for the children which
matches the customer’s needs.
Customer Segments:
We are solving children’s (1-8 years) Problems.
Our customers are the parents of the children (1-8 years).
Yes, the value proposition matches their needs as the parents want their
children to be happy, enlightened and enhanced.
It is a single sided market as our target market is only the children’s
parents.
Channels:
Our customer segments want to be reached through our website.
Customer Relationship:
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We can get customer through marketing, keep customer by providing best
product and grow customer by providing better service than our
competitors.
Key Activities:
Our value propositions require Focus Group, door to door marketing, local
advertising (cable operator).
Key Resources:
Our key resources are China, Old customer.
Key Partners:
Our key partners are Chinese few toy manufacturer such as chilbo
(dongguan) industrial co., ltd, shenzhen diya silicone co., ltd, shanghai gk
industrial co., ltd.
8.0 Marketing and Sales Strategies
Business Strategy
We are going to apply the low-cost best value strategy in our toys so that
the toys can stand out by offering good features, benefits, services or other
elements of our solution. This strategy means identifying the most
important criteria used by buyers in the market and then designing product,
service or other offerings in a way that best meets those criteria. Offering
the highest-quality toys, the best solution, an exclusive feature or tool or
organic materials are examples of ways to relative to certain criteria. Low
cost best value strategy coincide with relatively low prices than competitors
points than low-cost providers because it costs less money to provide a
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better overall solution. Emphasizing the value-added elements above the
low-cost options is key.
Other strategy to run business
Strategy 1. By thinking big and auditing our time. No matter the size of
our business, we can place a mental image in our mind as if we are the
largest and most successful person in our industry. How much time is
consumed by routine office work someone else should be doing? Spend
more time with more important tasks such as marketing strategies,
improving customer relations, and implementing new strategies to expand
our services.
Strategy 2. Be different and stand out from the competition.
Strategy 3. By Building relationships with the customers. For each
month that goes by, customers lose 10% of their buying power. By Creating
a customer database and contacting them on a regular basis and by
mailing them a postcard, birthday card, sales flyer, newsletter etc. we can
keep our name, phone number, and service on their mind.
Strategy 4. By Collecting E-Mail Addresses . Get permission from the
customers to use their E-mail address. Periodically send updates and
notices to the client list. As long as we have their permission and we avoid
overuse, E-mail can be a powerful and inexpensive marketing tool. Using
an email marketing service provider like Constant Contact* can make our
mailings professional and easy to send.
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Strategy 5. By Hiring top sales people. Successful businesses realize
the quality of their sales staff is critical to sustaining their growth in the
marketplace. A top salesperson can outsell an average one 4 to 1. Sales
people must understand their strengths and have a well-defined plan to
reach their potential. Many companies can provide the sales assessments
to both identify top candidates and develop currently employed sales
people.
Strategy 6. By putting a shopping cart on our website. Online sales are
still growing at a dramatic pace. This is coming from people who want to
save time, avoid crowded stores, convenience, and the ability to shop
outside of store hours. So We should use our own shopping cart system in
our own website.
Strategy 7. Pay-per-click advertising.
Strategy 8. Use customer service commandments to create good habits.
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9.0 Production/operating requirements
As an importer or distributor of toys intended for children, we must comply
with the provisions of the Toys (Safety) Regulations 2011 for toys placed
on the market after 19 August 2011.
The main requirements are that toys must:
satisfy the ‘essential safety requirements’ in the regulations
be properly marked to ensure traceability
bear the CE mark
be accompanied by instructions for use, and warnings where
necessary
Technical documentation and a description of the conformity assessment
method used for each toy must be available.
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As importers we must:
make sure that the manufacturer has fulfilled their obligations above
before placing a toy on the market
make sure that the importer’s name and address is marked on the toy
or packaging
make sure that the compliance of the toy is not affected by the
conditions of storage or transport
carry out sample testing of marketed toys
investigate and record any complaint made in relation to the toy and
keep a register of complaints, non-compliant toys and recalled toys
bring non-conforming toys into compliance and inform the authorities
if there is a safety risk
keep a copy of the technical documentation for a period of 10 years
identify the other economic operators in the supply chain
As distributors we must:
verify that the manufacturer has applied information identifying the toy
and manufacturer, applied the CE mark and that the toy is
accompanied by instructions for safe use and safety information
where appropriate
verify that the importer has applied their name and address on the toy
or packaging
make sure that the compliance of the toy is not affected by the
conditions of storage or transport
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bring non-conforming toys into compliance and inform the
enforcement authorities, the importer or manufacturer if there is a
safety risk and provide information relating to the compliance of the
toy to an enforcement authority
identify the other economic operators in the supply chain
Distributors have no obligations related to technical documentation but
must comply with a request for information or documents they know or
have regarding the toy’s compliance with the safety requirements.
Pricing For Retailers
Dollar Markup = Retail Price - Cost of Merchandise
Percentage (of Retail Price) Markup = Dollar Markup/Retail Price
Percentage (of Cost) Markup = Dollar Markup/Cost of Unit
Example:
Dollar Markup = $175 - $85 = $90
Percentage (of Retail Price) Markup = $90/$175 = 51%
Percentage (of Cost) Markup = $90/$85 = 106%
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10.0 Management and personnel requirement
List of key partners:
In our toy shop we have four partners each of them will handle accounting,
finance, marketing and sales, human resource management, (hiring
employee). In our toy shop management, each partner will have one in
B.B.A degree in accounting finance major, two in marketing major, one in
H.R.M major. We will divide our toy shop monthly income within four
members proportionately.
Personnel requirement:
In our toy shop we need 14 to 15 employees to operate a business for
home delivery of toy, and selling toy.
Skill and qualification that we are looking for:
Communication skill, interpersonal skill, product selling skill, decision
making skill, co-ordination skill.
We assume that each employee will cost monthly 10,000 taka per month.
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11.0 Intellectual property
As we are retailer directly sell to the customers we will go for trademark.
We have our log that is shown below.
For Getting a trade license/trademark we have to apply for the legal
permission and trade license from City Corporation or City Council of your
business area is that way to be legal. It is used for a company uses to
identify the origin of a product or to distinguish it from other goods on the
market.
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12.0 Regulations / Environmental Issues:
Some toys, like plastic toy soldiers and baby dolls, are responsible for
water and air pollution because they leach hazardous toxins in to the air
and water, but we used anti-oxide chemical to produced our toys which is
not hazardous to the air water, soil or the environment
Rental cost of our shop:
The rent cost of our shop will cost may be 20,000 taka per month.
The major rules and regulation that every business have to follow that are given as follows,
1.1.1 Section 3 of the Ordinance states that no trade organization shall be
registered under the Companies Act or such other law unless it holds a
license granted by the Government authorizing it to be so registered. Sub-
section (2) of section 3 provides that no license shall be granted to a trade
organization for its registration under the Companies Act unless it fulfils the
following conditions:
1. It is a Federation of Chambers of Commerce and Industry organized on
all-Bangladesh basis torepresent Chambers and Associations enumerated
in b., c., and d.
2. IT is a Chamber of Industry organized on all-Bangladesh basis;
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3.It is a Chamber of Commerce and Industry organized to represent trades
and industries of specific areas, such as, divisions, districts, upazilas and
municipalities
4.it is an Association of trade or industry or both, organized on all
Bangladesh basis to represent specific trades or industries or both;
5. it is a Town Association organized to represent trades and industries at a
place where there is no Chamber of Commerce and Industry;
6. it is a Group organized to represent specific trades or industries or both
of specific areas, such as e. d. c. b. a. Page 1 Business Organization Laws
divisions, districts, upazilas and municipalities.
1.1.2 Conditions of License
Sub-section (3) of section 3 provides that a license may be granted with
such conditions and subject to such regulations, as the Government may
think fit to impose or prescribe.
1.1.3 Government’s Power to grant Exemption
It has been provided in sub-section (6) of section 3 that the Government
may grant exemption to any trade organization from any provision of
section-3. This means a trade organization not fulfilling the conditions
as enumerated in sub-section (3) and discussed above may also be
granted license for its registration. Such exemption shall be for such period
and subject to such conditions as the Government may
determine.
1.1.4 Promoters/organizers Obligation
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It is provided in sub-section (7) of section 3 that for granting of a license,
the promoters or organizers of a
trade organization, before formation of the organization, have to publish a
notice declaring their intention to form a trade organization and the aims
and objects of the trade organization in at least two national dailies, in case
of a trade organization to be formed on all Bangladesh basis, and in local
or regional newspaper, in the case of any other trade organization.
1.1.5 Prohibitions and Disabilities
All trade organizations (and companies) has to comply with the following
provisions of the law:
i). A Trade Organization prohibits payment of any dividend to its members;
Sec. 2(12)(c)
ii). No trade organization shall function or engage in any activities without
first Obtaining a license; Sec.3
iii). No trade organization shall function and maintain office in any form after
its license has been
cancelled; Sec.5 (3)
iv). No company or trade organization other than a registered trade
organization will use the words
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13 .0 Critical Risk Factors:
Startup idea will have enough risk to fill a dozen business plans. The risk
analysis in our plan is to show that you have through risk my plan can
address several kinds of risk need to address every kind of risk in like
political risk.
Change in regulation government some change rules and regulation
regarding business that can create some sort of problem to our business
Uniqueness adaptation risk: we will have our website, we will also
provide description of our product with price in our website. we will have
home delivery service, customer can easy order toy through website, it
copy any of our competitor that can create some sort of problem to us.
Investment risk we will invest 45 lakh taka that involves some sort of risk
because we do not know we can sell product at right time or not
product risk is the risk that the product can't be created. toyshop often
have a high degree of product risk. They never know for sure they can sell
the product they one hoping to sell.
* Market risk is the risk that the market will develop differently than
expected. Sometimes markets take too long develop, and cash runs out
while a company is waiting for customers.
* People risk is big in companies that depend on having certain employees
or certain kinds of employees.
* Financial risk is the risk that a company will run out of money or
mismanage their money in some way. Financial companies may have huge
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financial risk. Since bad lending policies combined with poor investment
policies can risk them.
* Competitive risk is the risk that a competing product or service will be
able to win. Many wed-based businesses. Have high Competitive risk since
they can be started with little money and have no way of locking in
customers.
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