Children’s Educational Toys Business Plan Leave a comment

ToyLearn is an exciting start-up company that has developed a line of educational tools for children that are fun and engaging. Jen Funster and David Funster have founded ToyLearn. ToyLearn has Ohio S-Corp registration. ToyLearn will become profitable by year 1, and will experience an increase in sales over the following years.

ToyLearn initially offers three educational toys. NumberToy is a fun toy that helps children learn number skills. LetterToy 2, as the name suggests, helps children quickly learn the alphabet. PhonicToy is the final product. This device looks like a miniPC and helps with math and phonic skills. All the products are educational tools for young children. However, they can also be fun and encourage them to use them frequently. New products are currently in development by the in-house department.

ToyLearn has identified three keys to success that are instrumental in the sustainability of the business. Number one is the necessity to develop educational, creative, and engaging toys. Adopting strict financial controls is the second key. The last last key to success is the need to listen to customer, effectively creating a feedback mechanism for product improvement.

ToyLearn is targeting two customer segments. The first group consists of individual customers. These are parents or grandparents who are purchasing the product for their child. The market segment is expanding at 8% annually and currently has 3354,430 potential customers. The wholesale purchasers market will be the next segment. They are typically companies that purchase the products to sell to their clients. These are usually care centers or pre-schools. With 702,335 customers, this segment is increasing at 10% per year.

ToyLearn’s potential for success is ensured by its strong leadership team, which includes Jen Funster and David Funster. David, who is responsible for product engineering, graduated with an Engineering degree from the University of Rochester. David was employed by HP for a number if years in the product development department. David then moved to Nintendo, where he worked in game design. David is a product of these experiences as well as his education. They have provided him with valuable skills to help ToyLearn expand its market share based on the quality and value of its products. Jen is the other half of ToyLearn’s management team. Jen earned her Masters of Education through Case Western Reserve University. Jen brings extensive experience in educational tool development to ToyLearn.

ToyLearn projects sales of $367,000 in the second year. In year three, the yearly sales will be $475,000 ToyLearn’s success can be attributed to the combination of exceptional product development, seasoned management and the ability to spot a market opportunity.

1.1 Objectives

• You can create a profitable business.
• Innovate and create educational toys.
• The use of interactive toys can improve children’s learning curves.

1.2 Mission

ToyLearn is committed to making the best educational toys. We are more successful if more children learn basic functions with our toys.

Success Keys 1.3

• Develop creative, educational, engaging toys.
• Adopt strict financial controls.
• Pay attention to what the customers say.