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Ep 103: Why Product Selection Is Critical For Toy Companies (AKA Why I Turned Down Settlers of Catan)


This is the script used for recording Episode 103 of our PLAYING AT BUSINESS podcast. If you prefer to listen to the podcast instead of reading it, you can just click here: https://playingatbusiness.libsyn.com/why-product-selection-is-critical-for-toy-companies-aka-why-i-turned-down-settlers-of-catan


· Hello and welcome to Episode 103 of the Playing at Business podcast.

· I’m your host Steve Reece

· For today’s podcast We’re going to take a look at Product Selection and why the process of selecting your product ranges is the fundamental backbone of your company’s success in a product driven business like the Toy & Games industry!

· Before getting into that, just a couple of up-front bits and bobs:

1. I recently began a series of Linked In Newsletters offering long form report style analysis & commentary on the Global toy & game business – just search on Linked In for Steve Reece toys or Toy Industry Journal Newsletter & you should find the newsletter. Please feel free also to send me a Linked In connection request, and then you should see everything I post on Linked In in your feed (algorithm allowing!). At the time of recording we have 27 editions of that newsletter you can check out, and with around 5,000 subscribers from across the Toy & Games business this is a Free resource you would be crazy not to tap into!

· Now a quick plug for our Consultancy business services:

1. Did you know that I have helped many companies review their Sourcing strategy & find new factories in new geographies, especially outside China in India & other places? For more info check out www.ToyTeamAsia.com

2. Do you want to increase your Toy export sales? We help companies grow their Export sales, over my career I have $hundreds of millions of Toy sales under my belt. I have to tell you though that sometimes I start helping a company & get almost instant success, but sometimes I get tumbleweed by way of feedback – some products are harder to sell than others. The difference with what I do is that if you work with a commission based sales rep they just move onto other products which will sell more easily, my approach as a Consultant on a retainer is to help the company understand why their products are not selling & how they can improve the sales proposition. To find out more about these services, just go to www.KidsBrandInsight.com/services

3. Thirdly & finally in terms of our services alongside helping companies with their export sales we also work as head-hunters or recruitment consultants to help you find the right senior people to power your growth. As we speak I am finalising recruitment for a major Asian company for a senior international role. For more details just get in touch!

· Anyway, that’s quite enough up front rambling, let’s get into the topic of today’s podcast:


PODCAST MAIN TOPIC – Why Product Selection Based On Company Self-Awareness Is Critical For Toy Companies (AKA Why I Turned Down Settlers of Catan)

· OK, so I’m going to start here in the obvious place which is to talk you through the main anecdote in the title of this podcast – how I came to turn down one of the best-selling board games of the last 30 years in Settlers of Catan.

· Before I do that though, just understand that anyone who has been in the business of Toys & Games long enough has turned down something that went on to be a big success elsewhere – if you meet someone who has been doing this stuff for decades & they say they have never turned down anything that went on to be a hit, then they have either not achieved very much or they are not being entirely truthful. This is a hit & miss industry we work in, and what works & what doesn’t can be unpredictable – over time I have seen numerous concepts which were more or less the same launch with varying degrees of success from total failure to massive success, all on the same concept executed somewhat differently into a market at a particular stage and time.

· One of my bosses of the past once turned down the UK rights to the TV gameshow Who Wants To Be A Millionaire board game which went on to sell millions of units and broke all kinds of records for commercial success! I’m not mentioning his name, but he knows who he is since he told me that story himself!

· So anyway that’s enough self-justification – here’s why I how & why I turned down Settlers of Catan, which according to the official website has now sold more than 40 million copies.

· One of the creative team at a company I worked with brought me the game – which by that stage was a major hit in Germany and said the distribution/licensing rights were available for a couple of territories I looked after.

· While I personally knew the game was great & would most likely be a success for someone out there, the question was could it be a success for the company I was managing this portfolio for.

· And the answer to that question at that time was NO, the financials didn’t work based on the financial parameters we had to work on in that company, the specialist distribution and niche marketing required to make the game work were not capabilities my company had at that point in time AND perhaps most importantly, I was already managing a portfolio of very established & highly successful Games which were already more brands and products than we could realistically get listed in enough retailers to fully exploit the opportunities.

· So I turned down the iconic ‘gateway game’ that is Settlers of Catan, with best wishes and with a genuine expression of my desire for it to be massively successful for those who owned and managed it at the time.

· At a different point in time, the company I was working with may have been the perfect partner for that game, but not at the time we made the decision to pass.

· So in essence we made the right decision despite the success the game has achieved since.

· Many companies harbour staff who constantly butt up against the restrictions and limitations of the company. If you work for a massive corporation, and you are a born rule breaking entrepreneur who wants to run whacky contentious product initiatives, you probably won’t last long in that big corporation (I am speaking from personal experience here!).

· Similarly, if you are work for a smaller company and can’t handle the uncertainty of a smaller company with less retail clout that lurches from one good year to a bad one the next dependent entirely on the listing decisions of a limited number of retail buyers you are probably going to struggle to be happy at that place of work.

· Product selection is not (primarily) about chasing whims – it is about placing a limited number of educated bets on what your company can successfully execute in the marketplace based on your relative strengths & weaknesses.

· You should take great pride in turning down products which have excellent potential, but not for your company.

· Product selection is about taking the right risks and placing the most prudent bets you can.

· You can still be creative within those parameters but don’t expect miracles from your company.

· Choosing the right risks to take is where success and failure are borne.

· Whatever you do, don’t bet the house on any one initiative, product line or new product. Far more products fail at launch than succeed, so to reiterate a point I make often on this podcast – success is about portfolio management in this game – if you launch 10 things, expect 2 to be big successes (if you are great at what you do), expect 2 to 3 absolute flops which make you embarrassed to get up in the morning, embarrassed to speak to the customers you dols those total dogs of products to and which leave you with a serious inventory problem. Then you can expect the remaining half of the products to do ok and to just about wet their beaks.

· Based on years of cynicism inducing experience of this crazy hit or miss business of ours, the trick is not to over bet on any concept and to play the numbers games to ensure the stats eventually align in your favour.

· Oh, and be ready to turn down something you know will work for a different machine than yours or risk adding to your list of flops!

OUTRO

· So, that’s all we have time for this time, thanks for listening to Episode 103 of The Playing At Business podcast.

· If you like this podcast or enjoyed this episode, please give us a good review or rating on the podcast platform you are listening to, and a reminder again to check out our Blog websites: www.toyindustryjournal.com and www.boardgamebiz.com

· Please share the podcast with your friends and colleagues in the industry and stay tuned for new episodes coming soon!

· If you’re interested to find out more about my work as non-exec Director and board adviser, or how I help Toy & Games companies find Export distribution overseas, just check out www.KidsBrandInsight.com/services

· If you want Consultancy help to boost your business, you can find more details on our work on any of those websites I just mentioned.

· That’s all for now, I’ve been your host Steve Reece, this has been the Playing At Business podcast and we’ll see you next time. Thanks and bye.


Global Toy Industry Q4 2023 Outlook: What’s Going On & Will Product Sell Through Retail This Q4?

Sign up for my free e-newsletter and receive all the latest reports, analysis and insights on the Toy & Games business: sign up for free here: https://forms.aweber.com/form/54/1325077854.htm

This newsletter instalment takes a look at what’s happening in the global Toy business as we head deeper into peak selling season. Also below is a link to my latest podcast episode looking at how Toy companies are bought & sold, how to go about selling your company and how to get the best possible price for your company if you choose to sell it.



HOW DID 2023 LOOK BEFORE WE HIT Q4?

Before we take a look at the outlook for Q2, it’s worth setting the scene. Firstly our industry had a terrible Q4 2022, due primarily to high inflation causing a cost of living crisis across major Western economies. The failure of the consumer to show up in Q4 2022 left over abundant inventory in retail and eventually as that stock was aggressively cleared out by Toy companies eager to protect their cashflow. As a result, stock commitments for the back end of 2023 are by all accounts conservative to say the least.


I’m going to analyse some industry stats here, but before I do, I just want to give kudos to Circana (Previously NPD), who throughout my c. 25 years in the Toy business have been (in my opinion) the best Toy market data provider for me and my clients based on my experience & interactions. To read more from Circana, check out their Toy portal here: https://www.circana.com/industry-expertise/toys/ The stats quoted in the next two slides come from reports released into the public domain which can be accessed via the link above.


Circana recently reported that US Toy sales were down a whopping 8% year on year for the first 9 months of 2023 versus the same period in 2022. That’s clearly not great news, although we have to put it in the context of numerous good years previously. Circana also reported that c. 80% of consumers they interviewed have or plan to cut back on spending due to cost of living challenges.


Circana also reported that YTD end August 2023, the 7 biggest Toy markets in Europe were down 3.6% vs the same period in 2022. Clearly this is a less dramatic reduction vs the USA, but nevertheless supports the idea of consumers finding things tougher than in previous years and again challenges our usual presumption in the Toy business – that being that our industry always does well regardless of the financial circumstances.


The reality for most of us working in Toys is that we have not worked through a period of high inflation and reduced disposable spending by consumers. I’m no economist, but there are clearly signs that inflation is dropping in major Western markets, and that wage growth has started to rebalance the situation for consumers wages vs costs of living.


The day after I wrote this article just as I was about to hit the ‘Publish’ button, the UK & USA announced their latest inflation data. The US government announced an inflation rate of 3.2% based on their Consumer Pricing Index – 3.2% would not normally be considered as massively excessive, so it looks like the world’s biggest Toy market is on the road to moving past high inflation.


The UK has had a more profound issue with high inflation due to being less fuel independent than the US and therefore more impacted by the rise in domestic gas and oil prices coming out of the Russia-Ukraine conflict. Just like the U.S., the UK also handled the Covid-19 pandemic by printing extra money on a massive scale and scattering it around like confetti, which was always going to push up inflation according to my economist sources. Finally, the self-harm that Brexit represented pushed out low-cost European labour (primarily from Eastern Europe) putting up wages in the UK. But despite all this the annual inflation rate has just dropped to 4.6% in the UK down from an annual rate of 6.7% measured just the previous month. I could go through more major Toy markets but the point is made already here – inflation seems to be dropping.


The counter issue with inflation dropping is that it has been largely leveraged down by interest rate rises which tend to dull consumption and can cause economies to contract, which could lead to recessions in major western markets. However, as long as wage growth has equalised out the cost of living increases we have seen in the last few years, the Toy industry is proven to be recession resistant, so this would be less of a worry going forward versus perpetually high inflation.


In conclusion then from a macro-economic perspective, we’re not out of the woods yet. It looks like there will still be some issues heading into 2024, but we are heading back towards more typical inflation rates which should (fingers crossed) facilitate the return of consumers to Toy aisles going forward!



2023 Is Almost Predestined To Be A Reset Year

One of the key cycles I have observed across c. 25 years working in this marvellous Toy business of ours is that Inventory levels often work in a cyclical way. We can look at inventory levels as a pendulum that swings back and forth. In Q4 2022, when consumers didn’t show up in retail as per previous years, the pendulum swung dramatically to the side of inventory being heavily over stocked. What normally happens in the Toy trade after a situation with heavy inventory is a vicious inventory reduction program with markdowns in retail and heavy clearance/closeout activity by Toy companies. Shipments in to market tend to be highly conservative through the next sales cycle (which in this case is 2023), as discounted inventory clears through the system over time, and as retailers and Toy companies choose to batten down the hatches and only ship in what they are certain will sell in order to protect cashflow and avoid any further inventory overstocks.


This process normally ends with either an under stock towards the end of the reset year, or if the initial over stock was really high as it was at the end of 2022, then the following year (2023) should end up with a fairly clear market. In theory then, the pendulum should then start to swing back in the other direction heading into 2024, as long as there are no further major shocks to consumer demand.




Lower Demand Has Seen Sanity Return To Container Shipping Rates

One positive point in 2023 has been that the reduced demand across consumer product categories appears to have facilitated the return of viable container shipping prices after counter-seasonal sales surges caused havoc on shipping costs during and immediately after the pandemic. Rates of $20,000+ per container were not unheard of at the peak of the problem, whereas a more typical cost in 2023 has been more along the lines of c. $2,000 USD.


Maersk, one of the world’s largest shipping firms, has announced 10,000 job losses worldwide in 2023 alongside a 92% reduction in profits. While few of us will be too worried about shipping companies making less profit after they fleeced the heck out of us in recent times, cutting 10,000 jobs is a major move and is another indicator of far more conservative shipping volumes across consumer products in 2023.



THE CORPORATE VIEW OF Q4 2023

The major Toy companies varied in their performance for YTD through to the end of Q3 2023. Mattel obviously benefited considerably from the massive success of the Barbie movie, which at the time of writing is sitting at 14th highest grossing movie of all time – that’s a ridiculously successful movie for a Toy based movie. But even Mattel with the momentum of such a great media even on their flagship Barbie brand have cautioned against a tough market out there as follows:


“The company is operating in a challenging macro-economic environment with higher volatility, including inflation, that may impact consumer demand”

Reporting a significant decline in year-on-year sales, Hasbro informed markets that: “We have a cautious outlook on the holiday. We do not have a real solid view on where the market will go.”


Max Rangel, Spin Master’s CEO stated that: “As macroeconomic pressure continues, we have seen POS and orders for toys slow down, particularly from mid-October. We expect this trend to persist for the remainder of 2023.”


So the reality is that Q4 2023 Toy market performance could be constrained for a variety of factors, not least of which is low expectations and lower inventory commitments. The best thing we can hope for at this stage is that whatever happens retail inventory ends up clean heading into 2024, discount channels enjoy a bumper year but also end up clean and our industry can regroup and hope for a more uplifting 2024!



ON A BRIGHTER NOTE

One brighter bit of news in recent times has been the performance of Japan’s Toy market, which was up 7% for the year ending March 2023 according to the Japan Toy Association. This suggests that the cost-of-living crisis experienced in the major Western economies was not having the same detrimental effect on the Toy market in Japan through 2022 in the same way it negatively impacted performance elsewhere! This is a reminder that when some markets are down, others are up, and this speaks to the importance of geographical diversification in selling. The Japanese market is a notoriously tough one to crack, so I’m not directly suggesting we all switch our focus from the U.S. or Europe to Japan, but just making the general point that there are always green shoots and upside somewhere across distribution channels and markets, and that when the going gets tough, the tough get selling!

N.B. All trademarks and data featured herein are the property of their respective owners.


SPIELWARENMESSE – SPIRIT OF PLAY BLOG

THE GROWING ‘KIDULT’ OPPORTUNITY

Here’s to Adults growing older later! The Kidult market is a major thing right now, offering significant growth opportunities for Toy & Games companies despite the fact that birth rates are dropping in most major markets. Read more in this latest article I wrote published by the Spirit Of Play Blog, which is published by Spielwarenmesse, the world’s biggest Toy trade show. Click the link below to read the full article:

Also here’s a short video excerpt from my presentation at Spielwarenmesse’s Toy Business Forum in 2023 looking at the potential impact of the ‘Kidult’ phenomenon on the future of the Toy business: https://www.youtube.com/watch?v=hE2ZERGW7nc&t=26s

UNCHANGING PLAY FUNDAMENTALS

So often in the world of Toys we look for the big changes, we go trend spotting to find new things to jump on. The reality though is that far more doesn’t change than does. That’s what this latest article I wrote, published by Spielwarenmesse.de looks at. Just click the link below to read:

PLAYING AT BUSINESS PODCAST

EP 102 - Selling A Toy Business: How Mergers & Acquisitions Work In The Toy Biz

Many companies in the Toy business grow via acquisition. Company owners often want to sell up and retire or move onto other pastures. In this episode we take a look at some of the biggest Toy acquisitions of all time, we look at why and how Toy Cos are bought and sold and we discuss the details of the process of buying or selling.

Maybe you have a Toy business you want to buy or sell, or maybe you just want to understand how company sales work in the world of Toys, either way this episode will have something for you.

EP 101 - How To Run A Successful Tech Toy Start Up With HoloToyz

In this latest episode host Steve Reece talks to Kate Scott & Declan Fahy, the Founders of HoloToyz. Their company aims to inspire creativity and imagination via augmented reality technology.

Kate stated "At our core, we believe that children should be able to experiment, play and learn through emerging technologies in a kid-safe environment away from the open web, whilst not losing touch with the physical world."

We discuss this proposition, and the path from starting the business, through raising funding to achieving distribution for HoloToyz products.

This episode is a must listen for anyone interested in or actively pursuing a start up in the Toy business, as well as international distributors looking for new products and new stories to latch onto.

EP 100 – How To Recruit Good People And Find New Job Roles In The Toy Business

Join host Steve Reece in a deep dive into the toy industry's recruitment nuances. Having helped many people to find new roles in the Toy business and having advised many Toy companies on who & how to recruit, Steve unveils key strategies for companies to recruit effectively and tips for candidates to land their ideal roles. Whether you're hiring or job-hunting, discover invaluable insights to assist your recruitment/job search process.

AND FINALLY…

Can we help your business? Do you want to grow your export sales, prep to offer your business for acquisition, find senior staff or maximise your sourcing efficiencies? If you want to find out more about our Toy & Game business consultancy services, please just click the link below. Our company has helped hundreds of Toy & Game companies to get ahead and grow sales/make more profit. I have worked on all product categories across a 25-year career in Toys & Games, and genuinely love sharing knowledge, contacts and facilitating greater success for our clients.

Here’s a profile of some recent projects:

· Helped several Asian Toy companies to grow distribution in ‘Western’ markets & to recruit key staff to build distribution with new retail accounts opened up.

· Advised a leading high end Toy brand on marketing and licensing strategy.

· Advised multiple Amazon vendors on accessing traditional/offline distribution channels with various distribution deals signed across North America, Europe & Asia.

· Toured a leading U.S. company around India’s leading Toy factories leading to factory selection, production start & significant cost savings.

· Advised a leading Toy industry association on trends and data related to Toy Sourcing.

· Reviewed and scouted available Toy manufacturing facilities in Europe for a major Toy Co.

· Advised the board of a leading factory group on sales trends and best practise in the Toy business.

For more information on our services, click here:

Sign up for my free e-newsletter and receive all the latest reports, analysis and insights on the Toy & Games business: sign up for free here: https://forms.aweber.com/form/54/1325077854.htm

This article is the published script for Episode 102 of our PLAYING AT BUSINESS podcast. To listen to the podcast episode, just click here:



· Hello and welcome to Episode 102 of the Playing at Business podcast.

· I’m your host Steve Reece

· For today’s podcast We’re going to take a look at how Toy businesses are bought & sold. This might be interesting for you if you have a business to sell, but also might be interesting for you just to understand how these transactions happen and what’s involved. We’ll also look at how to pump up the price if you are selling & how to do your due diligence if you are buying.

· Before we get further into today’s episode though, just a few sponsors messages from, well me actually!

· You can sign up for our Free email newsletter on our Blog sites – www.ToyIndustryJournal.com & www.Boardgamebiz.com (not updated that often, but I keep mentioning for 1st time listeners who haven’t visited that blog yet!), sent out on Fridays when I have time, with links to our latest published content including notification of new podcast episodes

· Also, I recently began a series of Linked In Newsletters offering long form report style analysis & commentary on the Global toy & game business – just search on Linked In for Steve Reece toys or Toy Industry Journal Newsletter & you should find the newsletter. Please feel free also to send me a Linked In connection request, and then you should see everything I post on Linked In in your feed (algorithm allowing!). At the time of writing we have 25 editions of that newsletter you can check out, and with nearly 5,000 subscribers from across the Toy & Games business this is a Free resource you would be crazy not to tap into!

· Now a quick plug for our Consultancy business services:

1. Did you know that I have helped many companies review their Sourcing strategy & find new factories in new geographies, especially outside China in India & other places? For more info check out www.ToyTeamAsia.com

2. Do you want to increase your Toy export sales? We help companies grow their Export sales, over my career I have $hundreds of millions of Toy sales under my belt. I have to tell you though that sometimes I start helping a company & get almost instant success, but sometimes I get tumbleweed by way of feedback – some products are harder to sell than others. The difference with what I do is that if you work with a commission based sales rep they just move ontop other products which will sell more easily, my approach as a Consultant on a retainer is to help the company understand why their products are not selling & how they can improve the sales proposition. To find out more about these services, just go to www.KidsBrandInsight.com/services

· Anyway, that’s quite enough up front rambling, let’s get into the topic of today’s podcast:


PODCAST MAIN TOPIC – TOY BUSINESS ACQUISITIONS

· Acquisitions have been a major part of the Toy business for a long time. Mighty giants such as Hasbro and Mattel have a history of buying up tried and tested brands – from Hasbro’s acquisition of Games giants Parker Brothers and Milton Bradley (the latter bought for a now paltry looking $350m) through to Mattel’s circa $460m purchase of Mega Bloks, Toy companies have been growing for a long time by snapping up other Toy companies and brands.

· At the time of recording, Spin Master’s acquisition of Melissa and Doug has recently been announced with a reported headline price of $950m. This comes on the back of many transactions completed by Spin Master in the last decade or more, perhaps most notably the boys & girls from Toronto acquired the iconic Rubik’s Cube brand a few years back for a reported $50m.

· But it isn’t just massive corporations who purchase companies and brands – it happens at all levels and segments of the Toy & Games business.

· There are various reasons for selling a company:

o Firstly, many Toy companies are family businesses, and when the founder or current member of the founding family reaches retirement age, quite often they seek a sale of the asset they have built up or inherited.

o Secondly, companies often want to take advantage of recent growth to capitalise on a higher market value.

o Thirdly, many Toy companies end up hitting the rocks – these ‘distressed assets’ often get sold or at least some of the assets get sold to clear up the mess, debts and cashflow issues.

· From a buyer perspective, common reasons for acquiring another company are:

o Buying a distribution focused company in a different country as a way to a). grow overall group revenues and b). acquire an already established subsidiary to enhance group distribution in the new market.

o Buying intellectual property (aka Brands) or buying companies to get hold of their valuable intellectual property. Brands are a big thing in the Toy & Games business, and as we saw above with the Mega Bloks & Rubik’s transactions can command high sales values.

o Buying to remove an awkward competitor from the market to allow for higher pricing and / or increased retail shelf/online marketplace space. (This approach may subject to competition regulations in some markets, but nevertheless it happens surprisingly often!). I’m not at liberty to identify any transactions which might fall under this category for legal reasons, but there are some really clear examples over the past 10-15 years you could find quite easily if you were interested!

o Buying as a new market entry from a company looking to expand/diversify into a new market.

o Buying as an investment vehicle – this is quite common whereby an Investment company buys a Toy co and looks to either run it as a long term concern, or perhaps private equity style seeks to buy, pump up the value to 3 to 5 times the purchase value & then sell out again after c. 5 years. For this type of transaction, the buyers will need to calculate in advance where they can either add or buy in value to pump up the asset enough to merit selling on again.


THE TRANSACTION PROCESS

· So that’s the two perspectives covered, now we’ll look at how the process goes:

· Normally the parties looking to sell draw up a tender document which outlines an overview of the company, the people, the structure, the market, the key financials, the competition/competitive advantage and any other salient features. Having worked on many of these documents I could tell you all about over harassed business owners trying to do their normal job while cranking out what can become quite a hefty document in their ‘spare’ time. Quite often on the transactions I have worked on I was asked to take on a lot of the work involved, which is fine, but obviously cost the client for my time & knowledge. Overall I would say it’s a sensible thing to do to partner up with someone who can do the grind while taking input/guidance from the business owner, but other way a tender doc is needed to solicit interest.

· Normally the seller will have an idea of what they are looking for financially from a deal.

· Normally the buyer will also have an idea, and that idea will involve a lower price!

· After some haggling the parties will tend to agree an overall price, subject to some variables i.e. inventory ebbs and flows throughout the process, so there is always a final tally up of exact value of inventory & cash in the business.

· The most arduous part of the process both ways is the due diligence process by which the buyer seeks to validate the statements and claims made by the seller. I won’t go into all the details of what is asked for, because I’ll fall asleep from boredom if I have to replicate a full due diligence list, but standard things would be to look at audited accounts, speak to some key stakeholders and staff potentially, review inventory and validate the value, audit the dealings with customers to ensure that those relationships are true and strong and I could go on, but let me just say that with most transactions, by the time you get through this stage, both sides tend to be kind of sick of the whole concept of the transaction!

· One of the key elements of the process of selling a business is what happens to the owner once the transaction is completed. Normally the owner is a fairly critical member, if not the key member, of the management team. In such an instance the seller can expect to be tied in for anywhere from 12 to 48 months after the transaction to some extent to ensure the asset remains as valuable after purchase as it was before.

· Quite often these arrangements get terminated due to ‘irreconcilable differences’ and end before the agreed time, but for the seller to fully benefit from the sale there are often performance criteria the business has to hit for a while after the sale to fully benefit the seller.


HOW TO FIND BUYERS OR SELLERS OF TOY COMPANIES

· Now in terms of how you connect with interested buyers or sellers – that can be another fairly grinding process.

· Basically it’s like any sales process, you have to do the leg work to sell to find and pitch to potential purchasers/investors. To buy you need to find those companies looking to sell.

· You can work with Agents like myself rom either standpoint, in which case you pay the agent via a small percentage of the overall transaction value, and in return the agent helps you with all elements of the deal from due diligence to pitching.


· If you are interested in buying or selling a toy or game company, and you would like to discuss your needs, please feel free to reach out directly to me via my usual contact methods – via Linked In or the details on my various websites and we can discuss further from there.


OUTRO

· So, that’s all we have time for this time, thanks for listening to Episode 102 of The Playing At Business podcast

· If you like this podcast or enjoyed this episode, please give us a good review or rating on the podcast platform you are listening to, and a reminder again to check out our Blog websites: www.toyindustryjournal.com and www.boardgamebiz.com

· Please share the podcast with your friends and colleagues in the industry, and stay tuned for new episodes coming soon!

· If you’re interested to find out more about my work as non-exec Director and board adviser, or how I help Toy & Games companies find Export distribution overseas, just check out www.KidsBrandInsight.com/services

· If you want Consultancy help to boost your Sourcing efficiency – both in terms of finding reliable capacity & saving money, again, just check out: www.ToyTeamAsia.com

· That’s all for now, I’ve been your host Steve Reece, this has been the Playing At Business podcast and we’ll see you next time. Thanks and bye.



Again, just a reminder, if you want to listen to the podcast episode covering this topic, just click here:

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