How to start a toy store online or offline: A simple guideline.
How to start a toy store online or offline: A simple guideline.
Blog Article
The value of Bangladesh’s toy market is approximately 10 thousand crore taka. Bangladesh’s toy market is growing daily, and new business owners are showing interest in careers in this industry. Toys are extremely important for children’s healthy brain development, and parents’ interest in toys free of harmful substances is growing every day. By learning more about this field, you can discover how much money you can start making in this field and transform your life.
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How big is the country’s toy market?
A decade ago, imports accounted for 90% of the toys available on the domestic market. However, things have changed, and today, our nation produces 90% of the toys that are needed. This industry generates 100 crore taka in foreign exchange revenue annually. Nonetheless, 1200 crore taka might be made in this area by 2030 with government assistance. The government must work with us on this. At the moment, toy producers must pay 36–40% duty on the raw materials that go into making toys. Nonetheless, toy producers assert that they also favor a system of duty-free imports. However, specialists in this field claim that simply making it duty-free is insufficient; toy manufacturing requires a specific location and skilled labor. This sector can only get even more robust after that.
What to do if you want to start a toy business?
You may have realized by now how large and exciting the toy market is. Hence, you can launch a retail or wholesale company or a toy manufacturing company if you so choose. Here are some considerations to make to determine your profit in this industry.
Conducting market research: Determine the type of toys you want to stock in your toy store first. Because 80 percent of toys manufactured in Bangladesh contain hazardous chemicals that are bad for kids. It is entirely up to you what kind of toys you want to stock in your store.
Finding wholesale sources: Everyone in the country advises visiting Chawkbazar when looking for wholesale toy markets. But are toys limited to Chawkbazar? This isn’t true at all. If you would like, you can purchase toys from Islampur or Kawran Bazar at a wholesale price.
Budgeting and capital investment: You don’t need much money to start a toy business. You can start your own business if you have between fifty and sixty thousand taka.
Where to sell toys?
Where can you sell the toys you purchased from Chawkbazar? You can begin selling toys by putting up a little booth outside of a busy area, like a park for kids. Children always enjoy toys. Thus, it is certain that your toys will be sold both in the summer and the winter. You can, however, rent a stall at different fairs or festivals to sell your toys if you’d like. On the other hand, you can start your toy-selling business online while lounging around your house if you want to make things easier.
Do you need a license to sell toys?
A permission from the government is undoubtedly required if you want to manufacture toys, but none is required if you want to sell toys at fairs or online.
Both online and offline sales prospects
Right now, there is a great chance to sell toys online as well as in offline stores. Toys can be promoted by traders on Facebook, Instagram, and e-commerce websites. Reaching a greater number of buyers is achievable, particularly if you sell online through Facebook Marketplace and your website. Guffi World’s toys serve as a successful illustration in this instance. Guffi World’s founder, Waliullah Bhuiyan, stated, “We have brought some different toys that will not harm your child because 80 percent of the toys in the country’s market contain toxic chemicals.” He asserts that the nation’s conscientious citizens purchase non-toxic toys for their kids from overseas. This is why each toy’s price seems exorbitant, even though sales are very strong.
In Bangladesh, the toy industry is starting to establish itself as a lucrative industry. Collecting toys from the wholesale market and employing effective planning and marketing techniques can lead to success. For entrepreneurs, this is a viable venture that can yield healthy profits with little initial outlay of capital. So, start now without any delay.
Read More: https://bstandard.info/english/how-to-start-a-toy-store-online-or-offline-a-simple-guideline/