BUSIENSS PLAN FOR TOY SHOP
KIDZONE TOY STORE
Overview of the Industry
The toy industry mainly concentrated in and around the metropolitan cities of New Delhi and Mumbai in India, is characterized by small-scale establishments. Of late, the toy industry has been internationalized. The application of new materials and technologies have added value to the variety of the toys. Today, the use of toys is unlimited. They are used for decorations by adults and for education & play by children. Toys are also being used for entertainment and child development. Plastic toys, along with soft toys (mainly dolls) and board games, make up about 80% of the Indian market in value terms. The change that is discernible is the decline in Importance of board games (other than puzzles), which involve play by a group of children. Those in the trade argue that, with smaller family size today and the growing incidence of both parents working, there is little scope for board games, which families used to traditionally play together. The emphasis these days is much more on toys, with which a child can play on his/her own. Market Dynamics of the Indian Toy Trade
The Indian toy market exhibits some of the characteristics common to any toy market while others have uniquely the Indian character. Individual toys have a short life cycle. There is a constant need for novelty. Consumer tastes change rapidly. Resurrection of old toys does not work – a new content has to be added or altered. These rules, in general, apply to most toy markets internationally. In addition, the Indian market has its own angularities. Toy sales in India have well defined seasonal patterns coinciding with the festival season. Generally, the time period from July to November is the high season with temporary surges in some States in December & March. Toy selling in India often involves selling to 3 individuals simultaneously, namely the child, who will use the toy, the mother, who is concerned with safety, space to play, etc. and the father who controls the purse strings. The market is also highly price sensitive. This trend has been reinforced by the entry of large-scale imports of cheap and novel toys from China. These have mostly been unbranded, of low priced and indifferent quality toys.
The past decade has seen the Indian toy industry making quick strides in terms of production and exports. At present, India produces a wide range of toys, namely plastic and mechanical activity toys, plastic and soft dolls, stuffed toys, board games, puzzles, educational games and toys, metal toys, electronic toys and games. It is estimated that the toy production in India is around INR 5.50 billion in the organized sector and INR 12.50 billion in the unorganized sector with nearly 20% annual average growth rate. There are more than 3000 units in the small-scale sector including large number of units in the cottage sector. Some large/MNCs’ toy units like the Mattel, Lego and Funskool are also present in India. With international quality toys available in India now, the average spending on toys has increased substantially and this process is supported by an increase in disposable income at the customer end.
“To every child, presenting a toy creates a special attachment between the two.” We intend to satisfy the needs of the children mainly aged below 10yrs. by having an “KIDZONE” as a part of organized retail, catering to almost all the trifling requirements of kids. Service will be one of our main focus areas wherein we intend to have a “play n feel the toys” zone attracting the kids to enjoy with toys. This facility will give a real feeling of amusement to children, hence attracting the kids and parents towards it.
Thereafter we will also provide a babysitting facility for parents shopping throughout the...
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