|
Community Links |
Social Groups |
Pictures & Albums |
Members List |
Search Forums |
Advanced Search |
Go to Page... |
|
Thread Tools |
01-08-2014, 01:41 PM | #1 |
Iron Grenadier
Join Date: Aug 2009
Location: texas
Posts: 656
|
Hey all,
So i find myself at a point where I dont want work in an area i just dont LOVE, thus I was talking to a friend and he we were talking about selling toys and my mood just went sky high! so I was wondering has anyone started a toy business? I go to a few toy shows in my city and every time I think I should get a table. It usually the same guys and I dont think or know if you would call them scalpers but they seem to do ok or at least they say. I think the big thing is getting the product at the discount rate from the big companys Hasbro Mattel or Diamond Select. if not then your just hunting toys all over the city barely making 3-5 dollars on each fig and that if you price things to sell. in any case does anyone have any experience in this or advice?
__________________
Be Silent or be Silenced |
01-08-2014, 02:35 PM | #2 |
Crimson Guard
Join Date: May 2013
Location: San Antonio
Posts: 1,014
|
It is possible, and I have been considering it. I had helped a friend open a pipe/bong/video game/toy shop here in SA a few years back.
First thing you will need is a tax license to buy wholesale. This will net greater profit, and minimize losses on unsold items. Second, customers. Do you have any lined up? How will you find new customers? Third, physical location. Even starting from home isn't bad, but you will need a good amount space to allocate and sort your inventory. Not trying to discourage, but it can be a gamble. The main point is, be prepared for the worst as best as possible, work hard to bring the best.
__________________
BST http://www.hisstank.com/forum/g-i-jo...ml#post4535691 FEEDBACK: http://www.hisstank.com/forum/buy-se...-feedback.html |
01-08-2014, 04:53 PM | #3 |
Iron Grenadier
Join Date: Jul 2011
Location: Texas
Posts: 759
|
I would say location too, if you are in a small town (under 150,000) I would think it would be hard to stay in business. Not that it can't be done but... It also depends on what is in your area like Wal-Mart, Target, TRU that is competition. Even in Dallas it is hard to find a Toy store/ comic book store. I do think that now is the best time to do it where kids of the 80's and early 90's are at the age with disposable incomes.
|
01-08-2014, 09:17 PM | #4 |
Cobra Viper
Join Date: Oct 2003
Posts: 128
|
I've known people that have started toy shops. It's hard and competitive and for the most part it's a side business more than their main income source.
While location is important, I've seen plenty of store owners check their laptops to see how their ebay auctions are going so I don't think it's as important as it once was due to the internet. A good place to start might be just doing those toy shows. I've done a few and they are a lot of fun due to the people you meet and randomness of what people will buy vs what you can sell on ebay/the internet. You'll have to get a seller's permit to get a table at most shows so just keep that in mind. One of my friends did look into getting an account with Hasbro to buy Joes but in the end he realized that after calculating costs and profit margins for what would have been fairly small orders, it would have ended up cheaper to just buy stock from the big box stores. |
01-09-2014, 11:03 AM | #5 |
Iron Grenadier
Join Date: Aug 2009
Location: texas
Posts: 656
|
Quote:
I've known people that have started toy shops. It's hard and competitive and for the most part it's a side business more than their main income source.
While location is important, I've seen plenty of store owners check their laptops to see how their ebay auctions are going so I don't think it's as important as it once was due to the internet. A good place to start might be just doing those toy shows. I've done a few and they are a lot of fun due to the people you meet and randomness of what people will buy vs what you can sell on ebay/the internet. You'll have to get a seller's permit to get a table at most shows so just keep that in mind. One of my friends did look into getting an account with Hasbro to buy Joes but in the end he realized that after calculating costs and profit margins for what would have been fairly small orders, it would have ended up cheaper to just buy stock from the big box stores. I would have thought getting joes from hasbro you get em at less than half of the retail. BUt I guess you have to order throusands of figs. A small order of a few cases aint gonna get you much
__________________
Be Silent or be Silenced |
01-09-2014, 11:33 AM | #6 |
Broca Beach Realtor
Join Date: Oct 2008
Location: Broca Beach
Posts: 8,260
|
Quote:
really! I at one time saw a comic shop owners book from diamond cause he was gonna order me something and they pay like 4 dollars for a trade paper back which they sell for 14-18 dollars!
I would have thought getting joes from hasbro you get em at less than half of the retail. BUt I guess you have to order throusands of figs. A small order of a few cases aint gonna get you much I had talked with a small toy shop owner a few years back to see if he could order me some stuff and he said he could only place orders with hasbro for $5,000 or more. I don't know of that is for everyone, or was just his deal, but I do know big corporations DO NOT like working with small businesses.
__________________
"[Zarana] it's obvious by how many post[sic] you have... That you live a sheltered life...probably surrounded by your toys" |
01-09-2014, 11:41 AM | #7 |
Cobra Viper
Join Date: Jun 2010
Location: Leeds, UK
Posts: 237
|
I started up about 11 years ago and the hard part is finding decent wholesalers. Hasbro will only deal with you direct if you order X amount of dollars per order (about $5000 sounds right, I think it's £4000 here in the UK). Lego's prices depend on the amount of shelf space you can offer them in your store, which is why TRU always have a huge lego department as they get better rates that way.
Diamond comics require you to order $4000 worth of stock a month. I've never dealt with Mattel direct so I can't say what their requirements are. Some manufacturers only deal with you if you have an actual brick and mortar store. Some demand you don't sell their stuff on ebay. So far the best company I've dealt with for wholesale stuff is Entertainment Earth but they do seem to get there stock a few weeks after Target, TRU, etc. have theirs.
__________________
Action Figure Supplies: Vintage G.I. Joe parts, figures and spares We Ship Worldwide! |
01-09-2014, 11:54 AM | #8 |
#voteblackjack
Join Date: Sep 2008
Location: Northwood, NH
Posts: 35,747
|
Read this article for how much wholesale costs:
Jedi Temple Archives News: A Star Wars Collecting Paradigm Shift Please I've heard from a couple of stores that those numbers are very accurate. From what I understand, Hasbro also has minimum quantity orders, somewhat up front payment and can only put in an order when it has a minimum cash value (for example, don't bother putting in an order under $5k). It takes ALOT of upfront money. You need stock to start with. Talk with the guys that run SmallJoes, Kokomo Toys, Nerd Rage, Dorkside, etc... It's a pretty competitive market.
__________________
Join the New England G.I. Joe Collector's Group: Battleforce New England Join the March of Cobra. Read the epic adventure on Kindle Worlds and visit the page to learn more. https://www.facebook.com/marchofcobra/ |
01-11-2014, 02:57 AM | #9 |
Cobra Viper
Join Date: Dec 2009
Location: Nashville
Posts: 238
|
Quote:
Hey all,
So i find myself at a point where I dont want work in an area i just dont LOVE, thus I was talking to a friend and he we were talking about selling toys and my mood just went sky high! so I was wondering has anyone started a toy business? I go to a few toy shows in my city and every time I think I should get a table. It usually the same guys and I dont think or know if you would call them scalpers but they seem to do ok or at least they say. I think the big thing is getting the product at the discount rate from the big companys Hasbro Mattel or Diamond Select. if not then your just hunting toys all over the city barely making 3-5 dollars on each fig and that if you price things to sell. in any case does anyone have any experience in this or advice? I would never try and discourage anyone from pursuing their dream job. If you really want to own your own toy business then you should go for it. Being self employed is incredibly liberating and satisfying. It's a painful stressful "privilege" that I've not once regretted. Before you get started though you probably need to do some type of reflection or self inventory. You need to be certain you're willing to make the sacrifices that are required. I can tell you first hand that running your own business takes and incredible amount of hard work and dedication. You'll have to be 100% committed to your business, we're talking burn the boats committed! The toy business is very competitive and margins for the most part suck. You must have real passion for what you're doing or you simply won't make it. You'll have to work harder than you ever imagined. Running your own business is not a 40 hour a week job! You need to be prepared to handle adversity and you'll need to have think skin. No matter how hard you try to be honest and do the "right thing" some people will still trash you. Be prepared to accept responsibility for your mistakes. We all make them, when you screw up, own it. Most people will appreciate your honesty. Unless you have a ton of cash you need to be realistic about your goals. This is not a get rich quick type of thing. In fact, the longer I do this I'm convinced it a not get rich at all type of business When I started selling online in 2005 I was essentially broke. I had almost no money but I did have a huge stash of star wars toys. I stated selling them on ebay. With the profits I bought more toys and then sold them. The first year I did whopping 16K, that's about $300 a week. Definitely not very much for a full time job. Now we have 3 full time employees, a fourth full time coming in July and 1 part time person! Be prepared to handle criticism and or advice. Don't assume you know it all....you don't! Far smarter people than me and you have failed at running a small business. Also don't be afraid offer advice if asked. There's more than enough business for all. It's Karma treat people right way, even your competitors. Most likely he's just like you, a nerd whose passionate about toys. Luck, sometimes you just need to be lucky. I do subscribe to the harder you work the luckier you get theory, but honesty sometime it's just random luck. If you're lucky enough to get in the position where you need to hire employees. Hire good people and pay them well. They're the people who are going to be packing orders and and answering emails with your company name on it. They represent you. Most importantly, don't be a f'king douche! It's not lip service when I tell that serving your customers is the single most important key to your success. Your customers are advocates for your business. If you treat them great, they tell their friends. If you act like a d!ck then word gets around. Good Luck! |
01-13-2014, 11:29 PM | #10 |
Green Beret
Join Date: Feb 2008
Location: WI
Posts: 2,058
|
Hasbro's yearly MOQ is $25k. I looked into it last year.
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
so i started...... | shawn | G.I. Joe General Discussion | 0 | 10-01-2012 11:03 PM |
Figures This started off | england joe | G.I. Joe Customs Finished Projects | 7 | 06-03-2012 03:09 PM |
Where Toys Are Still Serious Business- Business Week article | johnsocal | G.I. Joe Toys Modern & General Discussion | 0 | 11-28-2009 10:32 AM |
Business people and Shopkeepers: How to start and business? | Kungfuguy | General Discussion | 10 | 08-31-2009 09:20 AM |
F.Y.E. Going out of business?? | Bionic Commando | Movies DVD Television | 24 | 01-09-2009 08:29 PM |
|
|