The doll business has a wide market segment. If people think dolls are only for children, then they are very wrong. Dolls are not synonymous with children. In fact, many adults also need or like dolls. Whether it’s for your own use or to give to someone as a gift. In essence, dolls become part of people’s lifestyles.
The doll business can be said to be anti-expired. The product and its market are durable without ever diminishing. Even if people’s purchasing power decreases, this business can still exist. There are always challenges, but in fact this business actor is still growing. This business has also become a livelihood for some Indonesian people.
Puppet Business Opportunities and Challenges
You could say the doll business opportunity is quite good. With a wide market segment, doll entrepreneurs can freely determine the model of the doll. Luckily, anything can be made into a doll nowadays. Not only cartoon characters, emojis, celebrity faces, mascots, even food products can be transformed into dolls.
In addition, business opportunities can also come when there are national and international events. For example, the Asian Games event some time ago. Doll entrepreneurs earn up to billions of rupiah from the production of Asian Games mascot dolls. Consumers no longer care whether the mascot is official or not, as long as the shape is the same, the mascot doll is always hunted.
Indeed, generally the buyers of dolls are children, so it is not wrong if dolls are always identical with children. Dolls are also the things that quickly come to mind when looking for birthday gifts for children. Therefore, as long as there are children, the business opportunity for the doll business remains bright. It’s definitely an interesting fact, that there are businesses that don’t know market saturation.
Challenges in Running a Doll Business
Behind the bright business opportunities, the doll business also has a number of challenges that are not easy. This business requires perseverance and tenacity. This business is only successful if the management goes well in all lines. Starting from the production process, marketing, human resources, and also finance. Distribution is also often a problem in this business.
Doll manufacturers need to invest a lot of capital to buy machines. Not to mention the supply of raw materials that is not always smooth. Not to mention that some raw materials have to be imported due to a lack of domestic supply. In addition, high HR turnover also often disrupts the production process. This is a natural thing to find because most doll businesses are home businesses or SMEs.
Business competition is also quite tight. It takes continuous creativity to produce unique and quality dolls. The ability to read what is trending is very important in this business. As said above, that the doll business can bring abundant profits, but the challenges are also heavy.
Other Interesting Info : 5 Most Complete Women’s Accessories and Knick-knacks Wholesale Centers in Asemka
Tips for Successfully Running a Doll Business for Millennials
|Photo Source: Angel Doll (Tokopedia).|
Millennials are a generation that is not afraid to run a business. In addition, the ability to obtain and absorb information quickly is the advantage of this generation. Of course this is in line with their high creativity. Therefore, the doll business is suitable for millennials to run.
Here are tips to be successful in running this business:
Recognize Capital Capability
It is important to analyze the ability of capital before starting this business. If the capital owned is large or excessive, being a producer is certainly more profitable. However, if the capital is not too much, it’s better to become a reseller first. Millennials tend to dare to take risks but are less careful in analyzing potential losses from the risks taken. Therefore, this capital analysis is very important.
Expand Information About Trends
Trends do not only belong to clothes, but dolls also refer to trends. Indeed there are doll models that will continue to exist. Examples include famous cartoon characters like Doraemon, Hello Kitty, Mickey Mouse or Donald Duck. However, there are also dolls that follow trends, such as Frozen characters, Avengers, or emojis in text messages.
Another trend is important events that are happening. For example, when the wedding of Prince Harry and Meghan Markle took place, doll manufacturers competed to make their dolls. In Indonesia, of course, the Asian Games event has not disappeared from the memory, which made doll entrepreneurs flooded with orders. These are the trends that doll entrepreneurs must follow.
Proper Use of Promotional Channels
Millennials are known for their ability to use technology and social media. Of course this is very useful in terms of doll marketing. Marketing through social media and the internet is the most effective and efficient. Create a website and social media accounts for this doll business and actively post content.
By maximizing the internet and social media, doll entrepreneurs can reach a wider market. In addition, it can do the right branding. Try to upload business-related content and do it consistently. Manage websites and social media professionally for maximum sales.
For distributors or doll manufacturers, their network is resellers. Expand resellers and give them conveniences so that they remain loyal to being resellers. However, there are things to note about this reseller. Try not to have a tempo system in reseller payments. To make it easier for resellers, give a discount for a minimum purchase.
Build a network so that doll sales can reach a wider area. With a strong reseller network, the distribution of dolls can be faster. In addition, by strengthening the reseller network, a strong business ecosystem will be formed.
Other Interesting Info: Business Prospects for Wholesale Women’s Accessories (This is a Good Business!
Maintain Good Relationship with Supplier
|Photo Source: AR Doll (Tokopedia).|
Finding suppliers of raw materials for a doll business is not easy. At the beginning of the business, try to find a supplier whose supply is guaranteed. In addition, make sure the quality is good. When the supplier network is established, maintain good relations by providing smooth payments. Avoid late payments to suppliers so that the production process continues to run smoothly.
On the other hand, if you choose to be a reseller, then choose a doll manufacturer or distributor who is also smooth in terms of supply. The chain of relationships between sellers, producers and suppliers cannot be broken. The continuity of this relationship has a significant impact on sales figures. Suppliers will also consider their partner businesses as healthy businesses, so they will maintain the quality of the goods they supply.
Don’t Give Up Easily When Problems Come
Millennials are known to be persistent, but also prone to problems. The slightest problem has the potential to make millennials take impulsive actions. Doll business is prone to HR and production problems. Therefore, on the HR side, establish good relations with employees. Make sure business owners know the characteristics of their employees, and build a good HR system. Face every problem calmly and find a solution that benefits all parties.
Puppet business can bring abundant profits with good management. Moreover, this business can be run by anyone because the products are not stale. After knowing all about this business, it is hoped that more people will try the opportunities in this business. When more people do business, people’s purchasing power can increase because of the absorbed workforce.
Other Interesting Info: Wholesale 5000 All-in-One Toys And Examples Of Products That Sell All Time
That’s the info about the doll business, one of the business opportunities that are suitable for the millennial generation. Hopefully this article is useful, and see you again in the next interesting article.
Author by : Bang izal.