How To Start A Dog Toys Business
Designing, producing, and selling dog toys in bulk can place you on an ideal path to financial freedom. What’s makes this business more alluring is that you can run it part-time from your home using the same amount of outlay.
Manufacturing dog toys aren’t really what matters the most, as there are literally countless different dog toys in the market, but selling them successfully is really what counts. Wholesaling them to retailers or selling them directly to customers digitally or by mail order depends on you.
However, your ticket to success in this dog toy business is making your toys of a high standard and making sure you’re visible and accessible to many prospective customers as possible.
Don’t forget that many people treat their pets as children, and they are ready to spend on them without considering the cost as long as it concerns their happiness.
By starting this dog toy business, you already have a head start on your journey to financial prosperity.
Some Mouth-Watering Statistics
There is a continuous increase in dog toys’ sales in the whole market, making it one of the fastest-growing sectors in the market.
The constant increase can be traced to the rising demand for recreational and capture toys, a rekindled interest in chew toys, and a new preference for more durable soft toys.
Packaged Facts concluded that the increasing trend in chew and fetch dog toys have made it a profitable business for both the producers and retailers.
Generally, dog lovers have been more eager to buy dog toys than cat lovers, reports David Sprinkle, Director of Research in Packaged Facts.
Though, the most remarkable improvement, and a good one at that, is in the homes of both cats and dogs. In these homes, the purchase of toys rose from 57% of dwellings buying toys in 2011 to 67% of households in 2016.
Pet humanization and “pets as a family” trends play a crucial role in developing the toy industry.
There is a very high possibility that all dog owners are making use of new dog toys. It’s like a way of spoiling their dog.
Survey results show that 88 percent of dog owners think that pampering their dog with new toys is a way of expressing their love.
Indeed, those days have passed when we could use some old stick or old shoe as a toy.
Behaviors have significantly changed over the years, and today just 36% of dog owners claim that their dog frequently uses household items as toys rather than commercial toys.
This evolvement is fantastic for dog toy producers.
Starting your dog toys business
Starting a company may be a challenging task. Advice keeps coming in from the right, left, and middle, and if you’re not careful you the confusion might leave you in disarray.
The nature of the business always determines the requirements, and this business is no exception.
What should you consider before starting a dog toy business?
Location
The location of a company affects its overall performance. Businesses situated in a pleasant and conveniently accessible area seems to attract more customers.
In the case of a dog toy store, you can aim for an area where there are many dog owners—making sure that the store is situated close to other stores or facilities that sell similar items would be an added advantage.
This is because customers prefer visiting a store in places where they can quickly get whatever they seek.
Quality of goods
Dog toys have different qualities, and it depends on the producer and the resources often used in producing them.
Dogs are healthy pets, and so when you use non-standard materials, even the finest dog toys will not last for a long time. By selling this kind of dog toy, you risk losing many customers in the immediate future.
To prevent this from happening, only store goods with credible brands are confirmed to be of very excellent quality.
Capital
The fact is that all businesses need adequate capital to survive during the first few months of operation.
Thus, businesses dealing with dog toys will need specific figures to ensure that the business operates successfully. The very first six months at most will depend entirely on the location and the business environment.
The total capital you need can be determined by estimating costs like the cost of buying stocks, the wages and salaries of staff and facilities, the cost of obtaining licenses and permits, and the cost of any inspections.
The startup cost range from $2,000 – $10,000.You can also add the cost of training new workers, health expenses, and the cost of staff welfare.
Variety of goods
There are various kinds of dog toys. These are specifically tailored for the disparities in sizes, preferences, and ages. By being a seller, you should have a wide variety of the finest dog toys on the market.
As toys keep changing over time, it is essential to keep the catalogs and toys in stock updated, so that dog owners can have many options to choose from.
You can also have a range of fun dog toys for anyone who’ll love to play with their dogs from occasionally.
It is best to keep stock levels minimal for the first few months as you don’t have precise details about dog owners’ purchasing cycles. After researching the trending items, you can then make changes to the items in your store.
Digital Dog toy Stores
The Internet has changed businesses across the world. Many individuals are going on the Internet to buy various things. The same applies to nice dog toys. Since individuals are purchasing dog toys digitally, your next plan should be establishing an online store, where people can place their orders.
Businesses with physical facilities can also be available on large social networking platforms to take care of customers in rural areas.
As an online company, ensure that you have excellent customer service, top-notch dog toys, and that your delivery services are both prompt and cost-effective.
Moving your dog toy business online
Starting small can be a safe, low-risk way of creating an online dog toy business. You could try starting with an ecommerce platform to see how your goods will be received and to get acquainted with the world of digital marketing. So, when you’re stabilized, you can jump in — however, make sure you’ve covered all the bases first.
Some great ecommerce platforms
You could consider starting with an eCommerce site such as Amazon or Etsy if you’re marketing specific kinds of products.
The great thing about Amazon is that you’re only required to pay when you eventually strike a deal. Etsy is targeted towards people who make the items they sell themselves. Thus this might be a pretty nice place to start for everyone who likes to deal with the exclusive special dog toys they produce themselves.
Both of these platforms provide different types of support, and both are simple-to-use platforms.
Develop your business strategy
This might sound like an overstatement; like come on, it’s only a dog toy business, but a good business strategy can be beneficial along the way, especially in cases when you might need funding.
Your strategy should have an executive summary revealing the intent of your business. It should describe how the business can be promoted, alongside suggestions for advertisement and promotions.
Who’s your future competition? Who are your potential customers? How many workers do you want to employ, and what are their wages and salaries in total? These are questions you should have answers to.
About the financing…
Every new business needs you to meet start-up expenses, and you need to have a finance source. This might require any advanced preparation, like requesting for a small business administration loan or a business loan from a local bank.
If you’re producing your goods for sale, you might be able to finance your start-up process by saving or borrowing from your retirement account if the initial expenses aren’t too high for you.
You’ll still need a place to store this money and also profits when your goods start selling, so make sure you create a merchant account with your bank.
Identify your competition
You’re going to face many competitors, and you better understand what they’re selling and the price at which they’re sold if you want to compete effectively with them for buyers.
If you have a specific product, that is indeed awesome, but other than that, you need to know what brand of products are currently in high demand.
Find the distributors for your dog store online.
Deciding what kind of toys you want to sell and getting credible suppliers is another crucial step, though this isn’t necessary if you’re selling the things you make yourself.
Having more than one supplier is also a smart idea if you find yourself in a lurch. In a situation where one of your competitors lacks a particular product or goes bankrupt or suffers any losses, your suppliers would come in handy.
Be sure you have ample resources and other tools at your disposal if you’re making your dog toys, and you find yourself in a lucky situation where you’re bombarded with demands.
Establish a Memorable Catchy Company Name
The perfect domain name for your online company is essential.
It should be something fun and catchy, something your clients will easily remember.
Sadly, you’ll probably notice that some of the best domain names have already been collected. You would have to be innovative. This is best, especially when you have a particular product to sell.
Market your Dog Toys business Efficiently Using these Strategies.
People love their dogs, and that is certain. Sometimes, dog owners are much more selective about the things they choose for their dogs than what they choose for themselves.
When it comes to selling dog toys, you need to concentrate on the feelings of dog owners. Your marketing strategies are more successful if you prioritize the attributes that dog owners consider vital. If you do that, your marketing will undoubtedly be a success.
What are people searching for whenever they shop in a dog toy store?
The first thing you can do to earn a firm reputation in your dog toys business is to know what dog owners require whenever they go shopping for dog toys.
Below are the attributes you must give relevance to:
- Trustworthiness: It comes first for a justified reason. When people buy your product or use your service, they would like to be convinced that it is safe for their dog.
- Compassion is yet another essential element. Dog owners want to make sure that they buy toys from care for their dogs as much as they do.
- Playfulness and enjoyment can also be relevant, depending on what you’re offering. For instance, a business that manufactures dog toys can stress that pets love spending quality time with them.
Choosing your logo
The colors and the shapes you pick for your logo must represent the values you choose to express to your customers. For instance, a blue color expresses trustworthiness and loyalty.
Furthermore, the logo gives a clear image of a business.
The logo you pick will tell your dog owners a lot about you by just taking a glance at it. The colors, shapes, fonts, and photos you select will decide whether a prospective user stops or continue moving, looking for something more alluring after seeing your advertisement or product.
Finding your place in the dog industry
When you’re marketing your dog toys business, the first thing to consider is figuring a way to find your niche in a competitive industry. Dog ownership is widespread, and this is why there is a tremendous demand for dog toys.
What can you do to help yourself stick out from a mass of competitors? Here are a couple of ideas:
- Identify your strength and your weaknesses. If your business’s vital force understands a dog’s behavior before picking the perfect toy for them, then concentrate on it. Discovering something unique about your services is a fantastic decision. You can offer luxurious Items for people who enjoy pampering their dogs. Is your niche picking toys for older golden retrievers? , whatever it is, find a place that makes your business unique.
- Identify your target audience before marketing. Just identifying dog owners as your targeted audience isn’t enough. Successful marketing has to be more precise than that. You can provide special training programs from dogs or make things that pet owners can categorize. Knowing who your clients are, through demographic details such as age and income levels and interest, will help you develop your marketing strategy.
Creating a customer persona may look daunting, but it doesn’t have to be that way. And you can use the details you’ve obtained, create an imagined potential customer who can be used as the subject of your ads.
By taking these three steps, you will create a marketing strategy that’ll benefit your business. After you have taken all of them, the next move is to start marketing.
Marketing your dog toys Business
Planning is helpful when it comes to marketing your dog toys business. Marketing is a science, anyway. Highly skilled marketers spend many years studying their work and apply everything from psychology to statistical theory to what they do. Conversely, you do not have to be a professional – or even employ a full-time professional to do a great marketing job.
How marketing will benefit your business
It may be easy to believe that you know all the ways your business will gain from marketing, although there might be certain things you haven’t noticed.
The first thing to remember is that brand awareness is critical. When it concerns every business’s growth, customers have to know the brand before trusting it. A 2013 Nielsen study reported that roughly 60 percent of Internet users preferred buying from a brand they known rather than from an unfamiliar brand.
What that entails in practical terms is that the more recognizable and popular the brand is, the greater chance you have in selling your goods. If you want that to happen, you’re going to have to be consistent with marketing – and to do that, and you’re going to have to create a marketing plan.
Tips on creating a Business Strategy
Being unreliable or haphazard in marketing doesn’t pay. A Scattershot is hardly ever successful. You might get it right by luck at least some of the time, but the probability of it occurring multiple times is low. Luckily, it’s not hard to develop a detailed marketing strategy. All you need to do is follow the necessary steps:
- As mentioned earlier, determine what makes the business different. Only a few small businesses can deal with supermarket companies like Wal-Mart. They can strive to be all things to all people, but you need to concentrate on what you do well if you want your marketing strategies effectively.
- Secondly, hone in on your key audience. If you have already developed a thorough customer person, then you have completed this stage. Being aware of where your target audience spends most of their time digitally is very helpful. For instance, if you’re selling glamorous dog toys, Pinterest marketing may be quite useful to you, seeing as many of its users are relatively wealthy and usually female.
- The third step is to identify the brand objectives. You may want to raise your sales by 50%, draw a thousand new clients, or drastically increase your market awareness. Whatever your goals are, articulating these will help you strengthen the rest of your marketing strategy.
- Once you’ve outlined your objectives, the next move is to create a strategy, which is a rundown of how you want to achieve your goals and your marketing schemes, which are the concrete steps you need to take to execute your plan. For instance, you can choose to use Pinterest marketing to meet your intended audience. Other relevant strategies you can use involve making bulletin boards showcasing your items or employing infographics to teach pet discipline. Ultimately, determine how much you can spend on ads.
- Calculate the total amount of your expenditures. After that, you can also allocate a similar amount to specific strategies to have a comprehensive approach.
- When the marketing plan is in place, it’s time to execute all your objectives. You’ll need to use your logo together with some relevant content marketing techniques to get back the money invested.
Eight Dog Toys to Invest In
- Big Dawg: Many dog owners buy this because of its indestructibility. They made of solid rubber are also gentle on the gums and teeth. Its current price ranges from $18.99 to $27.99.
- H.O.Y.S. Crab: This is a durable chew toy. Dog owners with teething puppies and active chewers buy this more often. Its current price is $13.99.
- Rumpus: It is designed for tough chewers; it consists of three chew lobes, floats in water but bounces when inland. It’s usually available in three colors and two sizes. Its current price ranges from $11.95 to $15.95.
- L.A.Y.: This set consists of a football, calculator, beakers, artist palette, and a scroll and graduation cap that’s squeaky and crinkles. It also glows in the dark. This toy is perfect for smart pups that happen to have a teacher as their owner. The price for the collection is $51.90, but they’re sold individually for $7.90-$16.90
- Ricochet: consists of two paired toys that make the dogs keep bouncing back and forth in their attempt to catch the squeaking sound that’s moving in both toys. It’s powered by 3 A.A.A. batteries, which only last for about a month. Dog owners use this to keep their dog busy. Its current price is $59.99.
- Fun Foods Chips: These toys have whimsicalrealistic drawings on a piece of durable fabric with a squeaker inside. It tastes fantastic and requires little filling. It costs $7.99.
- O.B.O. the Wolf Puppy: Its fluffy toy and this pup’s blue eyes help it stick out even in a pack. It can survive the tumble play of a giant dog. It currently costs $28.95.
- Pacific Ring: it’s a very engaging toy, and it’s usually fun for both the dog and its owner. It was built with a dual shield high- tenacity rope, and it can be played in several ways. Its current price is $24.9.
To sum up;
As easy as starting a dog toy business may sound, lots of work needs to be put into it. It just requires diligence and good communication skills to win the heart of your customers.