Children’s Educational Toys Business Plan

ToyLearn has been an exciting start up company. They have developed educational tools that engage and entertain children. Jen Funster, a husband and wife team, founded the company. It is an Ohio S-Corp. ToyLearn should be profitable by year one. The first few years will see a sharp increase in sales.

ToyLearn initially offers three educational toys. The first is NumberToy, a fun toy that teaches children number skills. LetterToy is the second product. It helps children quickly master the alphabet, as the name suggests. PhonicToy, which looks similar to a mini computer, is a device that helps children learn phonics and math skills. While the products serve as educational tools to develop core skills in youngster users, the toys are fun to play with and encourage children to use them often. The in-house department is currently developing new products.

ToyLearn identifies three keys to success which are crucial for the survival of the business. Number one is the necessity to develop educational, creative, and engaging toys. Adopting strict financial controls is the second key. Listening to customers is the final key to success. It creates a feedback mechanism that can be used to improve product quality.

ToyLearn has identified two customer segments that it will go after. Individual customers are the first. These customers are either grandparents or parents purchasing the product on behalf of their child. The segment is growing at 8% per year and currently has 3,354,430 perspective customers. Wholesale purchasers are the second segment to be addressed. These are typically businesses that purchase products for their clients. These organizations are typically some sort of care center or nursery/pre school. The segment is growing annually at 10% with 702,335 possible customers.

The likelihood of success of ToyLearn is ensured by its strong management team, lead by David and Jen Funster. David, who is responsible for product engineering, graduated with an Engineering degree from the University of Rochester. David then went on to work in product development at HP for a number years. David then moved to Nintendo, where he worked in game design. David’s education and these experiences have given him valuable skills that he can use to help ToyLearn grow its market penetration through the quality of their products. Jen is the other half of the management group. Jen received her Masters of Education at Case Western Reserve University. Jen brings extensive experience to ToyLearn in the design and development of educational tools.

ToyLearn predicts that $367,000 will be sold in year two. Year three will see sales of $475,000. ToyLearn has the right combination of experience management, exceptional product development, and the ability recognize an amazing market opportunity.

1.1 Objectives

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

1.2 Mission

It is ToyLearn’s mission to make the highest quality educational toys available. We are more successful if more children learn basic functions with our toys.

1.3 Keys to Success

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