Sample Business Plan Wooden Grain Toy Company

Pricing Structure

Wooden Grain Toys will offer its products for the following prices:

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  All-Purpose Pick-Up Truck w/movable doors and tailgate - $25
  
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  Dump Truck w/functioning dumping mechanism and box - $30
  
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  Biplane (two-seater) w/movable propeller - $20
  
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  Additional train cars (single car) - $5
  
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  Additional train cars (three cars) - $12
  
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  City Bus - $12
  
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  Tow Truck - $18
  
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  Flat-Bed Truck w/logs - $35
  
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  Sports Car - $20
  
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  Sedan - $20
  

Product Lifecycle

All current Wooden Grain Toys products are in production and inventory is being accumulated.

Intellectual Property Rights

Wooden Grain Toys is a trademarked name in the State of Oregon.

Research and Development

The company is planning to conduct the following research and development:

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  Include a feedback mechanism on the website for ideas, suggestions, and improvements
  
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  Provide comment cards for distribution at craft fairs
  
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  Review available market research to identify top children’s toys and reason(s) for their popularity
  

Marketing & Sales

Growth Strategy

To grow the company, Wooden Grain Toys will do the following:

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  Sell products at craft fairs in California, Oregon, and Washington.
  
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  As business grows, advertise in target markets, especially in advance of the holiday season.
  

Communicate with the Customer

Wooden Grain Toys will communicate with its customers by:

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  Providing an email newsletter with company news, product information, and craft fair schedule.
  
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  Using targeted Google and Facebook advertisements.
  
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  Utilizing social media such as Twitter, YouTube, Facebook, LinkedIn, Pintrest and Tumblr.
  
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  Providing contact information on the company website.
  
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  Adding labels on toys that include company name, contact info, and web address.
  

How to Sell

Currently, the only person in charge of sales for Wooden Grain Toys is the owner, Andrew Robertson. As profits increase, Wooden Grain Toys will look to add an employee to assist with social media and online marketing. The target demographic for the company will be parents of children aged 3-10. The company will increase awareness to our targeted customers through online advertising and attending craft fairs.

WOODEN GRAIN TOYS