1. Groton Toy Shoppe
Sheila Doherty
BY JENN DOHERTY
NICHOLS COLLEGE
BUSINESS AND SOCIETY 100-08

2. About the Company
 Sole proprietorship
 Has been in business for two and a half years
 Specializes in
 High-end toys
 Books
 crafts

3. Background
 Saw a need; there were no local toy stores
 She did not want to have to drive 20 miles to the
nearest toy store
 Used personal money to finance the business
 Has a degree in Business Management with a
concentration in marketing as well as life skills
 Has grown but not at the rate she wanted, still
unable to draw salary from it

4. Successes
 Being able to meet customers and build relationships
with them
 Has been able to introduce customers to many toy
lines only available to small toy shops
 Most rewarding aspect is meeting new people, and
getting to do something you enjoy everyday

5. Challenges
 Finances-most of the companies have a high cost
associated with your first order if you want to carry
the line
 Most banks will not take you on for a loan until you
have been in business for at least 3 years
 Unfortunately you need the money in the first year or
two to get your inventory and establish yourself as a
business

6. Challenges continued
 Had to get credit cards for store purchases through
her personal credit
 Fatal flaws in the business:
 With the internet, many people are staying home and making
purchases online
 Pricing can be a sticking point--too high--too low and
customers will stay away
 Until you open your doors, you never know if you have the
right target market

7. Competition
 Two of biggest competitors : Toys R Us and the
internet
 Being a small store, you have to seek out toy lines
that only sell to small shops
 Offer services like free gift wrapping, lay-a-way, and
a more personalized shopping service
 Take everything back with no questions asked and
offer a discount after they make 6 purchase

8. Marketing
 Advertising in local papers, taking ads in school
events
 Advertising can be very expensive and many small
business must rely on word of mouth
 They also donate toys or a family game basket to
fundraising events

9. Staffing
 So far, the business has been run by family members
 You must love your job and the products you sell or
you will not be able to get customers to purchase
 Must know how to deal with kids:
 sometimes they will have a tantrum in your store, or make a
mess
 you have to say with a smile that it is ok to the parents

10. The Future
 When her current lease is up, she will be closing the
business
 Sales have not increased at a rate which would make
her stay
 Moving forward to open a business which sells
organic and natural products
 New store will be in an area with much more foot
traffic and a higher population

11. Other Questions
 Do you think you made the right decision to start
your business?
 yes, I had a vision and a dream and I followed it, it was not a
failure, just not the success I was hoping for, it has been a
valuable learning tool as I move forward with another business
 What is your favorite part about owning your own
business?
 you are the boss and control your destiny. you have the
opportunity to shape and mold something into what you see it
becoming

12. Questions Cont.
 What advise would you give to someone trying to
start a business?
 Make a business plan!! Be prepared to support the business
with personal funds for at least 2 years. Do your SWOT
analysis and make sure you have the right market for your
product. Most of all, know that you will be working seven days
a week, so have a passion for your work. Build a network of
support--other small business owners, friends, family--they
will help pull you through the tough times--which there will be
many