There are many popular stories about toy inventors making it big with a new toy, from Trivial Pursuit that sold millions to tiny inventions that sold in the thousands. There are toy inventors who succeed every year, yet the odds are still as high against them as they are against inventors in all categories. From an inventor’s perspective, the toy industry has several things going for it.
- There are toy agents who work with inventors to license their toys to manufacturers. Several of these agents and the representatives below may carry toy products to major retailers such as Toys-R-Us or mass merchandisers.
- The industry has a large trade show where inventors can meet toy companies and their representatives.
- The toy manufacturing and retail trade has a dominant trade magazine that allows for press releases and provides some degree of access to key industry players.
- There are several independent sales representatives who sell toys to independent toy stores and other stores, such as pharmacies and hardware stores, that also carry a selection of toys.
toy agents
Toy agents work in a variety of ways and with different payment methods, but most will try to license your idea to a toy company or sell your idea to major retailers. All agents have product submission requirements, so if you’re interested in working with an agent, contact them to find out what you need to do to get them to review your idea, and then decide if you want to offer them a contract.
International Toy Fair
At the beginning of each year, the Toy Association has its annual International Toy Fair, which is a very well attended event and the place where almost all the important new toys are presented. The program also has a launchpad section for first-time inventors to help get those products recognized. The trade show is an event where you can get orders, get exposure to the most potential buyers, and have the opportunity to meet agents and representatives interested in representing your product. I highly recommend you attend, even just as an attendee if you really want to pitch your idea.
You can also find plenty of information from a wide variety of Toy Show participants, from first-time inventors to established sellers simply by Googling toy show sales.
toys magazine
The industry has well-read magazines that reach stores, manufacturers’ sales representatives, and other manufacturers. You can submit press releases to the magazine about your product and any events or activities you plan. You can also submit stories about any planned marketing campaigns, as well as photo stories from events you’ve held to promote your toy or game. You can also find the names of the independent sales representatives in the magazine by checking the industry news. Another way to find reps is to simply send out product brochures about new product launches from small and medium-sized businesses. Often the literature will come with the name of a representative who you can contact to see if they are interested in selling your product.
Manufacturer Sales Agents
The industry has sales agents from many manufacturers who will sell your product to both large and small retailers. You can expect to pay a commission of around 10-12% on everything they sell. Representatives generally cover a limited area, so you may need 8-10 representatives for nationwide coverage. Some of the agents listed in the previous section might also be willing to represent you and your product in stores.
You can find representatives by searching names or requesting literature as detailed in the previous section or by calling local stores and asking who their representatives are. Often if you get the name of one representative, you will get the names of other representatives. Once you get just a few names, you get additional names by doing a Google search for those reps. Sometimes their names will appear on another manufacturer’s site for their representative list. It can take more than 10 hours or research to develop an extensive list, but it can usually be done.
Once you get the names of the reps, spend more time crafting your emails. Reps typically won’t accept a product unless it looks like it could produce at least 10% of your revenue. Include in your agent package retail success stories, copies of any press releases you have, images of your product being sold in stores, and any other relevant information that shows your toy is a winner. You should also list shows you attend or have attended, photos of your booth, and any upcoming marketing programs you plan to host.