How To Start A Successful New Toy Or Game Business
New toy companies are the lifeblood of the toy business. Unencumbered by decades of the right way of doing thing and understanding what works and what doesn’t, new companies push the boundaries and update thinking about what works as a toy as society and technology evolve over time.
For many of us old hacks who trudge around the same old toy trade shows every year, part of the joy of these shows is seeing what new companies have thrown their hats into the ring. Sometimes a company has so blatantly got it wrong that cynics doubt if they will last until the next toy trade show, others manage to uncover new hot concepts and product directions to the extent that they have distributors and retailers hanging around their exhibition booths like flies, along with all those who will be off to the factory soon after to try to copy the new idea from the new blood!
The journey for a start up is normally difficult, gruelling and fraught with banana skins and mistakes. Via our consultancy business www.KidsBrandInsight.com we have consulted with many dozens of start ups (some clients have described us as toy start up experts). We find that the same key areas define success or failure each and every time.
We recorded an episode of our toy & game business podcast: www.PlayingAtBusiness.com looking specifically at how to successfully start a toy company. Toy start ups are common, but not all of them make it. We cover what separates the successful companies from those that don’t make it on this podcast episode: