1. Choose an ideal location for your toy store – Consider factors such as foot traffic, parking, and accessibility to customers.
2. Develop a business plan – Outline all the details of your toy store including its goals and objectives.
3. Secure financing – Consider the costs and sources of funds that are needed to start your business and secure enough capital for it.
4. Design your store layout – This includes deciding on fixtures, décor, and display options.
5. Acquire necessary permits & licenses – Check with local authorities to find out what permits and licenses you need to operate your business.
6. Choose a point of sale (POS) system for tracking sales, inventory & customer data – Research different options that are available in the market and select one that best suits your needs.
7. Open an online store – Consider having an eCommerce component to your toy store to reach a wider customer base.
8. Secure reliable suppliers – Research the market and find out who are the best and most reliable suppliers for the type of toys that you want to carry in your store.
9. Market your business – Use various platforms such as social media, digital marketing, traditional advertising, etc., to promote your toy store.
10. Hire staff – Start staffing up for the opening day of your store and consider any additional training that they may need.
11. Invest in security systems – Shoplifting is a major concern for retail stores, so invest in CCTV cameras, alarms, and other security systems to protect your business.
12. Set up an accounting system – Have an accountant who can help you understand taxes, bookkeeping and other financial matters related to running the business.
13. Open for business – Finally, open your store for customers and start selling your toys!