Running a successful toy business is certainly not child’s play, but it is an exciting and dynamic sector to be involved with. Innovation and creativity are part of your everyday working life - every year brings new technology, popular characters and trends to keep toy manufacturers and retailers on their toes.
The UK toy sector is good at keeping ahead of the game; it's considered to be the largest toy market in Europe. And sales grew by 5.9% between 2015-16, with a strong forecast of further growth in 2017. Do you fancy a share of the £3.2 billion toy industry in the UK? Then, here is the ABC of starting up a toy franchise business.
Toy companies helping toy store franchises
The phrase 'if you can’t beat them, join them' comes to mind. A standalone toy shop or online supplier will face extremely tough competition from established brand names. This is a highly price sensitive retail sector - parents shop around for the best value. This means that bigger companies with buying power and long standing contracts can undercut independent start-ups.
The good news is that some of the biggest and best toy companies are happy to share their business models with people who want to be their own boss. A toy franchise arrangement means you get to run your own business, with help available if you need it. This could include, for example, assistance finding a shop location, a crucial instant website for online or physical toy retailing, and insights on knotty insurance and compliance issues.
What’s in the toy store franchise toy box?
Amongst the companies looking to expand in the UK, are franchisers Build-A-Bear and the Early Learning Centre. There are work from home franchise opportunities too, such as Child’s Play inactive books, or there are niche initiatives, such as Business in a Box toy vending machines.
Would you like to play around with toy franchises that match your interests and budget? We can help turn imagination into solid business success.