Tips on How to Open a Toy Store

Proper inventory management is important in the toy store business. Ordering the right products, stocking and selling popular toys can increase the business profitability. Profitability depends on many factors such as cost of toys, regular patronage and operational costs.

Over the years big box toy stores have competed to open retail stores or connect with distributors. Variable estimates in recent years from 2012 to 2018 are 2.5 to 4.5 percent.

A store owner should be people oriented, interested in toys and collectibles. They need proper networking, distribution deals and unique ideas.

How does a toy store make money?

The store makes money through the sale of toys. They can focus on personalized services, home delivery, vending machines, and paid store games.

•         Sale of toys

•         Focus on personalized services

•         Home delivery

•         Vending machines

•         paid store games

Steps to Opening a Toy Store

The first step is to write a business plan. Make sure you form a legal entity, register for taxes and open a business bank account.

Other steps involve setting up a business account and getting insurance cover. More considerations are establishing a web presence, define your brand.

•         Write a business plan

•         Form a legal entity

•         Register for taxes

•         Open a business bank account.

•         Setting up a business account

•         Get insurance cover

•         Establish a web presence

•         Define your brand
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Cost of opening a store

The cost of opening a store depends on many factors. The costs include location, type of inventory, local taxes, insurance, leasing. Others are cost of customizing the store, staff wages, advertisement.

•         Cost of location

•         Type of inventory

•         Local taxes

•         Insurance

•         Leasing

•         Cost of customizing the store

•         Staff wages

•         Advertisement

Learn the trade

You need to have previous experience working in a toy store or hospitality industry. It is important to have quality mentorship and basic business knowledge. Learn through apprentice programs, seminars, trade workshops.

•         Gain experience

•         Get quality mentorship

•         Attend seminars, trade shows

•         Develop business knowledge

Expenses

Toy store expenses are utilities, rent, and staff wages. Others include insurance, local government levies, advertisement costs. More are cost of decoration, phone calls, store expenses and transportation.

•         Utilities

•         Rent

•         Staff wages

•         Advertisement costs

•         Store expenses

•         Transportation

•         Purchase of inventory

•         Tax

•         Government levies

Charges

The manufacturer fixes the retail price of the toy. Therefore charges depends on the price of each toy.

The toys attract very small margins and stores need to sell huge volumes. There are low cost toys and expensive toys. some stores supplement income by selling non toy related merchandise.

Storefront

To operate a store out of a physical location you can acquire the property or lease. To purchase the property you need a certificate of occupancy. The business should conform to zoning requirement and building codes for renovations.

Legal Requirements

You need a license and permit to operate. The business requires sales tax on the products. Register the business as a limited liability company and you need local licensing.

Staff

Many smallholder stores are one man businesses. However retail business requires a store clerk, bookkeeper, cashier, store manager. The size of the store would determine the number of employees you hire.

Get repeat customers

To keep customers coming back you can offer home delivery and toy storage. Other ways to encourage repeat patronage sell video games, offer sweets, promotions and public demonstration. A good strategy includes advertisement, discounts.

Marketing

The business is highly competitive and you need an effective marketing strategy. Use newspaper advertisement, social media, deals. Focus on holidays, special occasions and birthdays. Build a website or online store to push your products and use customer reviews

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How to Become an Appliance Repair Technician

An appliance technician repairs, maintains and installs equipment. The technician could gain employment or establish a small business.

They perform house calls, repair appliances, delivery service and scheduled maintenance. The field is broad and has may sub sectors such as electrical maintenance and appliance maintenance.

How to Become an Appliance Repair Technician

Types of Appliance Repair Jobs

There are a huge number of appliances that need repair. The appliances include radios, televisions, refrigerators and washing machines.

More are Electric cookers, electric irons, stoves, washers, and dryers. There are lots of vocational training schools that offer tutelage in carpentry, electrical wiring, and plumbing. You find courses in appliance repair, crafts, networking and combustion.

Common Appliances

• Radios
• Televisions
• Refrigerators
• washing machines
• electric cookers
• electric irons
• stoves
• Washers, and dryers.

Electrical Repair and Maintenance

 Electrical repair and maintenance covers application installation, repair, and heating. Others are precision metal working, air conditioning, refrigerator maintenance and vehicle repair.

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Seek Training

The technician could learn on the job or seek vocational training. Learn through online courses, websites, a community college or technical school.

Increase the knowledge by attending seminars, workshops and apprentice programs. Read technical books, e-books, tutorials and manuals.

College of technology study includes non-degree certificate course work. Universities offer Undergraduate courses and present grandaunts with an associate bachelor’s degree.

• learn on the job
• seek vocational training
• online courses
• websites
• community college
• technical school
• attend seminars
• workshops
• apprentice programs
• Read technical books
• e-books
• tutorials and manuals

Career Requirements

An appliance technician should be certified or posses a degree. Other requirements are ability to troubleshoot, and pass mechanical aptitude.

They should have excellent written, verbal and communication skill. It is essential you pursue continuity education to remain abreast of fast changing trends.

• Certified
• posses a degree
• good ability to troubleshoot
• pass mechanical aptitude
• excellent written
• verbal
• communication skill

Appliance Repair Technician Licensing

The person should posses a GED or high school diploma. They need regular vocational training and appliance specific certification.

You have the national society of certified electronic technicians and national appliance service technician certification. Other requirements are no criminal record and a current driving license.

• GED
• high school diploma
• vocational training
• appliance specific certification
• Driving license.

Finding Jobs

Look regularly at newspaper advertisements and online portals. There are many job search aggregators for qualified professionals. You could signup with an employment agency or start a small business. 

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10 Reasons Why Age Does Not Determine Starting a Business

There is no age limit to starting a business venture. Mature investors stand a better chance at success because of many factors.

Major advantages are self-confidence, better resources and learning from experience. Others are financial security, good qualification and adequate knowledge of the industry.

1Learn from Past Failure

If you have established an unsuccessful business in the past you can learn from failure. The greatest teacher is failure because you learn valuable lesson.

This will guarantee not repeating the same mistakes and supports proper planning. Business success requires hard work, adequate preparation and experience.

2. Self-Confident

Mature entrepreneurs are self-confident than young entrepreneurs. This is because of valuable life lesson they learned along the way.

Mature investors are more frugal, sensible and realistic in their expectations. They are better motivated, have good self-esteem, and confidence. They may have acquire good formal education, professional experience in related field and confidence.

3. More Resources

A mature investor has more resources available to them. They have a broader network, better chance at acquiring startup capital, experience. They have friends and acquaintances in position of authority.

Older investors are more financially secure, have lots of collateral. It is possible to leverage on established brands, join a franchise and hire professionals to run the business.

Two mature investors can form a partnership and leverage on each partner’s strengths, training and experience. The individual could decide to become a sleeping partner and merely invest in an established brand.

4. Financial Security

Matured investors have better financial security than young investors. They might have paid off their mortgage and saved up a reasonable amount.

They also have good credit rating and have retirement benefits. Having less financial responsibility offers more cash liquidity.

5. Knowledge

A matured invest must have gained work place experience. They are well qualified with formal training and education.

They have gained lots of practical experience and knowledge base. They are skilled professionals in their industry, good network.

6. Focused on a Niche

Young investors find it difficult deciding on a business venture. Matured investor know exactly the industry of interest. They have had ample time to develop a passion and develop ideas.

Statistics show that business based on passion tend to succeed. This is because profit is not the main determinant of such businesses. They will eventually become profitable because of the quality products and services.

7. Investors

Investors generally look at the business structure and management of a company. They are more likely to invest their hard earned money on startup with professionally trained and highly experienced owners.

Mature investors bring years of cognate experience and maturity to the table.

8. Set Goals

Matured investors are better at setting goals. This is because of years of workplace experience. The fashion objectives, vision and mission statement. They are more realistic in expectations, profit, and loss account.

9. Networking

It is easy for matured investors to network with industrial players. This is because their friends and acquaintances are in position of power. They would have built up a network of professionals in the financial, marketing and supply.

Common contacts are accountants, venture capitalists, financial planners. Others are attorneys, marketers, contractors, agents.

10. Life Experience

Good business acumen are benefits of life experience. Others are Hands on experience, training and education.

A mature investor has logical expectations and projections. It takes years to gain life experience and build trust with professionals in your industry.

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How to Open a Geriatric Care Management Business

Starting a geriatric management service is challenging and tough. You need proper training, patience an dedication to succeed.

Other requirements are good marketing strategy, networking and referrals.  Most geriatric management companies are one man businesses. Therefore register the business as a sole proprietor, get liability insurance and tax identification number.

Personal Traits

The business requires 24 hours on-call seven days a week. Personal traits you need include assertiveness, discipline, patience and dedication.

You need education or training, work experience and a business background. You need basic accounting knowledge, and boundless energy.

• Assertiveness
• Discipline
• Patience
• Dedication
• Education
• Training
• Work experience
• Business background
• Basic accounting knowledge
• Boundless energy

Why Start a Geriatric Business

Despite the long working hours there are many dividends. You earn the respect of the community and have a creative outlet. Other dividends are flexible schedule, good interaction with professionals in different fields and networking.

• respect of the community
• creative outlet
• flexible schedule
• interaction with professionals indifferent fields
• networking
• profit making

How to Become a Geriatric Manager

You need a bachelor’s degree in geriatric management or technical training. Increase your knowledge through compact disc, manuals, blog posts and eBooks.

Other ways are attending seminars, conferences and association gatherings. Another way is to study under a mentor or certified GMC consultant.

• get a bachelors degree
• masters degree
• compact disc
• manuals
• eBooks
• blog posts
• attending seminars
• conferences
• association gatherings
• learn from a mentor

Write a Business Plan

The first step is to write a geriatric management service business plan. Then carry out a feasibility study and survey.

Conduct a research on customer demography and ideal clients. The plan should include marketing, mission and vision statement.

Others are permits, location, re-training and startup capital. Study your competitor’s and evaluate their strengths and weaknesses. Learn from experts in the fields and gain work experience.

Marketing Your Geriatric Management Business

There are many opportunities for geriatric care management service providers. They can use the internet, tradition print medium, television, radio presentations. Another effective method is through advertisement in newspapers, senior citizen magazines or editorials.

Create Sessions

 A good way to attract senior citizens is to organize sessions. You can send out email invitation to seniors in a demography or geographical area. Select a central location for easier transportation too and from the venue.

Speak Senior Gatherings

Senior citizens are active providing philanthropy or attending communal meetings.  A good strategy is to offer to speak at such gatherings. You have gatherings such as pension groups and community groups.

Senior Centers

 Good place to visit are senior centers. You have a huge number of senior citizens in such places. Other important gatherings are health fairs and book clubs.

Build a Website

Choose a keyword rich domain name and paid host plan. People looking for geriatric management assistance would find the site and communicate with the webmaster.

Add high definition images of senior citizens, info-graphics and quality posts. Make sure you include your services, address, phone number and customer care line.

Use Brochures

Brochures are old school but very effective. Distribute them at HR offices, senior citizen events and introduce coupon for free gifts. You can use flyers, billboards, posters and banners.

Referrals

Personally introduce your services at local community centers. Top referral sources are social service agency counselors, senior center operators and senior lawyers.

Join an Association

There are many advantages to becoming member of such associations join the professional association of geriatric care mangers for networking opportunities and references. You get credibility from being a member and insider knowledge of best practices.

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How to Find the Business that is Right for You

You have taken a bold step to start a business and invest in an idea. The next step is finding the business that is right for you. The possibilities are endless and structures different.

You tend to face lots of competition, supply issues, branded products and low startup capital. To get a clearer picture you need better understanding of different types of businesses. Here are important things to consider before making  a choice.

Product or Service

You need to determine the type of business. Are you offering a service or selling a product.

Service oriented businesses are usually dominated by educated professionals in specialized fields.  Service provider leverages on technical knowledge and deduction.

Such services include, provision of healthcare, mechanics, teachers, realtors and bankers. Others include accountants, entertainers, bookkeepers and consultants.

Business Services

• Educators
• professionals in specialized fields
• technical knowledge
• healthcare services
• mechanics
• teachers
• realtors
• bankers
• accountants
• entertainers
• bookkeepers
• consultants

Products

Professionals can also offer products such as carpentry, making furniture, selling of digital products. The key to finding the right business is to offer either a service or sell a product.

The industry your level of education and talent would determine the industry you operate. The only binding factor in products or services is marketing. Irrespective of the industry you choose you need effective marketing.

• Hand Crafts
• Manufactured products
• Crops
• Farm produce
• furniture
• selling of digital products

Online or Terrestrial

Once your have chosen a product or service to offer your customer you need an office. The office could be Homebased, dedicated store or online.

You need to consider opening a storefront or not. A products sale involves having a physical location for your goods.

Product sales have different variations such as using third party merchants. Others are in-house stock or offering eCommerce solutions.

Choose Niche

Choose a niche based on your education, technical knowledge and interest. Offer service or sell a product. Product sales involve wholesale or retail structure. You might decide to go into manufacturing or the creative arts.

What you need to succeed

To succeed you need to have passion for the business. Other requirements are good location, supply chain, qualified staff and tenacity.

Start by writing a business plan, studying your competition and offering added value services. Always strive for quality and professionalism. Don’t forget to put in place advertisement and marketing strategies.

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Best Retirement Plans for Self-Employed

As a self-employed individual you need to save for your retirement. A good way is to get a good retirement plan. There are a few plans that are perfect for a sole proprietor or the self-employed. The process is simple complete a Form and deliver to the accredited receiver. Here are some retirement plans to consider.

Best Retirement plans for Self-Employed

401(k) plan

The 401 (k) plans is also referred to as the solo 401 k, uni-401 k or individual plan. The plans are exempted from discrimination testing because the only staff is your spouse. The plan allows annual salary deferrals of $18,000.

The plan accommodates an added provision of $6,000 for people older than 50 years. This is possible through a designated contributory scheme or on pre-tax bases. You could fashion the plan to access hardship distributions or account balance via loans. 

You can contribute 25% net earnings including salary deferrals. The pre-tax allows tax deferred growth and tax only on withdrawals. The scheme is flexible and accommodates spouse participation in the plan.

Simplified Employee Pension

The simplified employee pension SEP accommodates 25% of net earnings from self employment. You need to fill a one page form, Form-5305-SEP. This form is an individual retirement accounts contribution agreement.

You can obtain an IRS approved prototype of the SEP plan from accredited financial institutions and banks. All you need to do is approach an accredited financial institution and open a SEP-IRA. The advantage of this scheme includes high contributory limit, tax deferral and easy maintenance.

Savings Incentive Match Plan for Employees

The saving incentive match plan for employees is referred to as SIMPLE IRA Plan. You can contribute your net earning from self employment to the tune of $12,500.

If you are above 50 a provision allows additional $3000 and fixed contribution of 2%-3%. To benefit from the contributory scheme you have three options.

You can obtain the form from a designated financial institution or a plan administrative company. The Form-5304-SIMPLE which is the savings incentive match plan is not for use with a designated financial institution.

However the Form-5305-Simple is used with a designated financial institution. While the IRS approved prototype SIMPLE IRA plan are offered by banks, mutual fund managers and plan administration companies.

Where to File Savings Incentive Match Plan for Employees SIMPLE IRA Plan

To establish the plan there are three designated administrators. The Plans a accredited to certain financial institutions. The accredited financial institutions are mutual funds managers, plan administration companies and banks.

• financial institutions
• mutual funds managers
• plan administration companies
• banks

Other Contributory Plans

Other contributory plans include money purchase plan which requires a yearly contribution at a fixed percentage not exceeding 25%. Other plans are the profit sharing plan and defined benefit plans. The define benefit plan has the traditional pension plan, maximum annual benefit.

• money purchase plan
• profit sharing plan
• defined benefit plans
• traditional pension plan
• maximum annual benefit
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45 Unique Small Business Ideas for Teens and Youths

Teenagers are full of boundless energy and courage. They can put that strength and determination to work by starting a small enterprise. There are many small businesses and occupation that require very low startup capital. They are practicable full time or part time depending on the person’s schedule.

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45 Unique Small Business Ideas for Teens and Youths

1. Wind Chime Making

2. Web Designer- offer clients web designing services

3. Sell Used Books- sell used textbooks and novels online or to bookstores

4. Become a Wedding Planner- if you have good organizational skills you can try wedding planning

5. Start a Tattoo Palour- you need to learn the tattoo trade or work as an apprentice

6. Become a Tour Guide- rake in cash by offering foreigners tour guides

7. Become a cobbler- repair and produce shoes, sandals and slipper

8. Sell stock photography- sell photographs on stock photography sites

9. Pet setting business- try pet sitting

10. Flip domains- purchase top level domain names and resell for profit

11. Open a Pet photography studio

12. Start a catering service- there are lots of teens into catering services

13. Become a graphic designer

14. Flip websites- buy and sell websites for cash

15. Sell on eBay- there are lots of things to sell on eBay

16. Become a virtual assistant-to become a virtual assistant you need good organizational skills

17. Open a Laundry Service- use your washing machine to earn cash

18. Start a home tutoring service- good at mathematics and English tutor others

19. Become a social media marketer- a huge following on social media equates to marketing opportunity

20. Try freelance writing- join a freelance site and offer your services

21. Write and sell eBooks- writing eBooks are easy and fun. Sell them on kindle direct publishing

22. Produce apps- create and sell apps

23. Start a teen magazine

24. Stat a teen radio- purchase software and start an online radio

25. Become a voice over- artist- do you have an amazing voice try voice over

26. Try gardening- get your hands dirty with gardening services

27. Start a carwash business- earn good pay washing cars

28. Start a photography business- buy a digital camera and offer photography services at parties

29. Do micro jobs-there are many micro job sites

30. Breed exotic dog

31. Start a pet store

32. Start a babysitting business

33. Become a disc jockey

34. Open a video Rental shop

35. Try jewelry making

36. Open a grocery store

37. Go into fish farming

38. Blog for cash

Start a cleaning Service

39. Try affiliate marketing

40. Open a video game center

41. Go into craft making

42. Try computer programming

43. Drive a private taxi

44. Start a barbing saloon

45. Become an party clown

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Top 10 Part-Time Jobs for Senior Citizens

Many senior citizens are still very active into their seventies. Some love new challenges and are eager to experience different things. There are many reasons why seniors take on new challenges. They could work from home or take part-time jobs to supplement income.

There are many jobs best suited for seniors and some are high paying. The jobs cover professional fields, experience and technology.  If you are a senior citizen looking for part-time job then here are a few interesting ones.

14 Best Businesses for Retirees

1.Become a Virtual Assistant

A virtual assistant’s job is highly sedentary and requires long hours answering phones. They also organize paperwork, schedule meetings and attend to clients. The senior could decide to work part- time or full time.

The job requires good interpersonal and communicative skills. Anyone can work as an assistant from the comfort of their homes. However you need average computer knowledge, appropriate software and basic office equipment.

2. Pet Sitter

A pet sitter’s job is easy fun and exciting. The animal requires minimum attention and you get to rest your weary legs reading a newspaper. If you have many clients this could turnout a profitable side venture.

3. Customer Representative

A customer representative’s job is moderately challenging. Some companies pay reps based on performance on sales.

This is done based on a specified percentage per each client. You need to have good communication skill, boundless energy and perseverance. Customer service representatives deploy different tactics to achieve desired results.

4. Dog Walker

If you love dogs this job is perfect and moderately demanding. You need to be physically fit to handle those feisty canines. The gig pays only pocket money and is part-time.

5. Bookkeeper

A bookkeeper is a highly organized individual with a keen eye. They also excel on bookkeeping software and accounting software. They work part –time or full time depending on terms of employment.

6. Tutor

Qualified teachers have a host of jobs and business to consider. They can organize extra lessons, coaching classes or mark examination papers. Other jobs include online teaching or preparing online courses.

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7. Consultant

The number one job done by retirees is consultancy. They leverage on their professional experience and certificates. A consultant works part –time and charges clients appropriately. The sector depends on qualification, dedication and job experience.

8. Build a Blog

Blogging could be fun and eventually rewarding. Build a blog in line with your interests and personal experience. To build a blog you need a domain name, host provider and good theme. Make money by introducing advertisement, sell a product or use affiliate programs.

9. Become an Editor

Editing is time consuming and requires someone with good eyesight. The job is rewarding and editors earn good money. There are many places to get jobs especially freelance websites.

10. Become a Life Coach

You could become a life coach and impart knowledge and wisdom to others. The job is lucrative and requires good interpersonal skills. It requires zero startup and you could work for an organization or yourself.

11. Charity Work

There are lots of organizations that need charity workers. Some are sent abroad and given stipends for their effort. You giveback to society and earn some wages in the process.

12. Write eBooks

Ebooks are easy to make and require moderate investment in your time. write a book about your experiences, interests or culinary skills. There are thousands of topics from romance, business, self help and technical books.

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