If you’re an online business owner who wants to start selling toys and games, or just someone looking to start a side hustle, you’re in luck!
This post will provide a step-by-step guide on how to do just that.
But first, let’s take a look at some of the benefits of selling toys and games online.
Benefits of selling toys and games online
One of the significant benefits is that this sector is growing rapidly. In fact, global toy sales are currently valued at $305 billion U.S. and are expected to grow to $405 billion by 2026. So, if you want to tap into this lucrative market, selling toys and games online is the way to go.
Another benefit is that entry into this selling niche, especially for those considering selling used toys online, is that you don’t need to invest a significant amount of money in starting inventory. Your online toy sales business can grow as you grow.
That said, there are a few pitfalls along the way that you’ll want to avoid.
So without further ado, let’s get started with our guide to selling toys and games online.
How to sell toys and games online
Thanks to the internet, selling toys and games online is easier than ever before. But how can you ensure that your toys and games stand out from the competition?
Here are a few tips:
- Focus on quality. There are a lot of toys and games on the market, so make sure that yours are well-made and entertaining. If your products are superior, customers will be more likely to buy them.
- Offer a great selection. Don’t just sell one type of toy or game – offer a variety of products so that customers can find exactly what they’re looking for. That said, it’s a solid strategy to keep your toys specific to a particular niche – focusing your business on baby toys, 80s video games, educational toys, toys for kids with sensory issues, or the many, many types of Legos, for instance.
- Provide excellent customer service. If you treat your customers well, they’ll be more likely to come back to you in the future.
By following these tips, you can make sure that your online toy business is a success.
Is it profitable to sell toys online?
In recent years, online retail has become a significant force in the toy industry. Thanks to the ease and convenience of online shopping, more and more people are purchasing their toys online. But is it actually profitable to sell toys online?
The answer may surprise you. While it’s true that there are some challenges to selling toys online, there are also a number of advantages.
For one thing, online retail provides a global market for toy sellers. This means that you can reach a larger audience with your products than you would if you were selling through brick-and-mortar stores.
Additionally, selling toys online allows you to bypass the traditional wholesale channel and sell directly to consumers. This can help you to avoid markups from intermediaries and ultimately earn a higher profit margin on your sales.
Of course, running an online toy store is not without its challenges.
The biggest challenge is shipping costs. Shipping heavy or bulky items can be expensive, and this expense is often passed on to your customer in the form of higher prices. One way to get around this is to make sure you set the best shipping costs for your business.
Additionally, competition in the online toy market is fierce, and you’ll need to work hard to make your store stand out from the crowd.
However, if you’re willing to put in the effort, selling toys online can be a very profitable business venture.
Seven things to consider before starting your online toy business
eCommerce store owners in the toys and games space sell a wide range of toys and hobby-related products, including both new and used toys.
These may include traditional toys, video games, action figures, board games, various hobby kits, Legos, arts and crafts supplies, and more.
With so many toy and game options to choose from, you’ll want to consider these seven factors before starting your business.
Decide between used toys, new toys, or both.
Do you plan to sell new toys, used toys, or a combination? Where will you source your inventory? What will your profit margins be?
How do you intend to set up your new business, and what are the requirements in your state?
Will you be a sole proprietor? An LLC? A partnership?
Will you need a tax license to sell online in your state?
How do you plan to market your online toy store? What is your budget for marketing, and how will that impact your profit margins?
What eCommerce marketplaces, if any, will you sell your toys on?
Or will you sell exclusively on your own website and social media? Not sure the difference? Check out our resource on eCommerce websites vs. marketplaces.
Are you planning on storing your inventory or dropshipping them? If you’re planning on storing your own inventory, do you have enough space, or will you need to get warehouse space? If it’s the latter, you may consider inventory management software to keep track of your growing collection of products.
Pro-Tip: See our resource on dropshipping for beginners to avoid crucial mistakes when you get started.
How will you track and manage your expenses to ensure your business is profitable?
How long will you give your startup to be in the red before you expect it to turn a profit? Three months? Six months? Two years?
What technology will you need to run your business? Depending on the size or scale of your business, you may need software to help you keep track of inventory, ship products, optimize your online listings, and manage your finances.
Selling Used Toys
Believe it or not, used toys can be very profitable – provided you have the right strategy.
For starters, you’ll need to find a niche market. Are you selling dolls, action figures, or stuffed animals?
Each of these categories has its own dedicated fanbase, and you’ll need to know which one you’re targeting.
Once you’ve decided on your market, it’s time to start sourcing inventory.
Don’t worry – you don’t have to scour garage sales for hours on end. (Although this can certainly be one way to snag some fantastic inventory for pennies.)
Many websites specialize in selling used toys, and they’ll often offer bulk discounts.
Finally, it’s essential to set realistic prices. Used toys won’t generally sell for as much as new ones unless they’re collectible – but you can still make a tidy profit if you price them correctly and leverage nostalgia.
Selling used toys can be very profitable, provided you use an effective strategy.
Where do I find used toys to sell?
If you’re in the market for used toys, a few options are available.
One option is to purchase them from a local consignment shop.
Another option is to find them at garage sales or online auctions.
Finally, you can always try your luck at the local thrift store.
Whichever route you decide to take, be sure to scrutinize the condition of the toys before making a purchase. Used toys should be free of any damage or wear and tear, and all parts should be accounted for.
With a little bit of effort, you should be able to find some great used toys that will be perfect for reselling online.
Which used toys sell best?
It’s essential to understand what buyers are looking for. While certain toys (like branded dolls and action figures) will always be in high demand, others (like toy cars and building blocks) tend to have more appeal to collectors.
In general, the best-selling used toys are those that are either brand new or in excellent condition. That said, even lightly-used toys can find a home if they’re priced competitively.
So whether you’re hoping to unload some old favorites or turn a profit on last year’s holiday gifts, there’s a good chance you can find a buyer for your used toys online.
How much should I charge to sell used toys and games?
When it comes to selling used toys and games, the sky’s the limit – or is it?
There are a few factors to consider when setting a price for your gently-used wares.
First, take into account the condition of the item. Is it in good condition, with all pieces intact? Or is it missing a few key components?
Second, think about how popular the item is – is it a timeless classic that will always be in demand? Or is it a fad that has already come and gone?
Third, consider your target audience. Are you selling to collectors who are willing to pay top dollar for rare finds? Or are you selling to parents who are looking for a bargain?
Finally, remember that vintage and antique toys generally sell at a higher price, depending on how rare, old, or popular they are. And, if you’re not quite sure how to price an unusual item, you can always check with your online competitors to see how they’re pricing similar items.
Once you’ve considered all of these factors, you’ll be better positioned to set a fair and reasonable price for your used toys and games.
Selling new toys online
Where to find new toys to sell
If you’re in the business of selling toys, it’s important to keep your inventory fresh and up-to-date. But where do you find new toys to sell? There are a few different options:
Wholesale toy companies: These companies specialize in manufacturing and selling toys. You can usually find a good selection of wholesale toy companies online.
Toy stores: Many toy stores have clearance sections where you can buy toys at a discount. This is a great way to find new toys to sell without spending a lot of money.
Manufacturer closeouts: Sometimes, manufacturers will sell their excess inventory of toys at a discount. This is a good option if you’re looking for specific types of toys.
Online auctions: Online auction sites like eBay are great places to find new and used toys. Just be sure to do your research before bidding on anything!
With a little bit of effort, you should have no trouble finding new toys to sell. Just remember to stay up-to-date on the latest trends so you can offer your customers the best selection possible.
Which new toys sell the best?
Are you wondering which new toys sell best? The answer, of course, depends on the age of the child.
For toddlers, the top-selling toys tend to be simple and durable, like plush animals or building blocks.
For elementary schoolers, favorites include anything that lights up or makes noise, from lasers toys to musical instruments.
As kids get older, they become more interested in games and devices that allow them to interact with their friends, like video game consoles or social media applications.
And for teenagers, the hottest items are often the ones that allow them to express their individuality, like makeup kits or fashion accessories.
Ultimately, the best way to find out which new toys are selling best online is to ask your child what they want. After all, they’re the experts.
What requirements are there to get an inventory of new toys and games?
Before you can set up shop and start selling the latest and greatest toys and games, you’ll need to acquire an inventory. The good news is that there are a few different ways to go about this, and there’s certainly no shortage of options when it comes to what kinds of products you can sell. But before you can start stocking your shelves, you’ll need to meet a few requirements.
For starters, you’ll need to obtain a business license. This will vary depending on where you’re located, but generally speaking, you’ll need to fill out some paperwork and pay a fee. Once you have your license, you’ll be able to apply for a wholesale account with toy manufacturers and distributors.
In most cases, they’ll require you to have a business license and tax ID number before they do business with you. However, once you’re approved, you’ll be able to purchase inventory at a discounted rate.
Of course, if you don’t want to go the traditional route, there are always other options.
You could try contacting local toy stores and asking if they’d be interested in selling their overstock inventory to you at a discount. Or, if you’re feeling really ambitious, you could even try manufacturing your own line of toys.
Whichever route you decide to go, just make sure that you have all of the necessary requirements taken care of before moving forward.
How much should I charge for new toys?
There’s no one answer to this question – it all depends on your toys, your target market, and your business goals.
However, there are a few things to keep in mind when setting prices for new toys. First, consider the cost of manufacturing and shipping the toys. You’ll also want to factor in any applicable taxes or fees. Then, set a price that will allow you to make a profit while still being competitive with other retailers.
Finally, don’t be afraid to experiment – you can always adjust your prices based on how well the toys sell. The most important thing is to get started and start making money!
Which is more profitable, selling used or new toys?
The world of online retail is a competitive one, and toys are no exception. When it comes to profitability, the answer to the question “used or new?” is not always clear-cut.
In general, selling used toys is more profitable than selling new ones. Used toys generally sell for a lower price than their brand-new counterparts, but they also tend to have a higher markup.
That said, there are certain circumstances where selling new toys can be more profitable.
For example, sellers can charge a premium price if a new toy is in high demand but in short supply. In the end, it all comes down to supply and demand.
By keeping an eye on trends and staying flexible, online retailers can maximize their profits regardless of whether they’re selling used or new toys.
The toy and game industry is growing rapidly, with no signs of slowing down.
If you’re looking for a profitable business opportunity, selling toys and games online may be just what you’re searching for.
It’s clear that there are many different ways to sell toys and games online, and which options you choose will depend on your business goals, the products you’re selling, and your target market.
With careful planning and execution, these methods can help you to be successful in generating profits for your online toy business.