Business Overview

The fidget spinner was the first “fidget toy” to be introduced into the marketplace. Designed to help alleviate and channel nervous energy in children, this popular toy is Googled over 100,000 times per month and has already generated over $500 million in sales since its introduction in early 2017. Due to its overwhelming popularity, inventors and entrepreneurs across the world are now focused on dreaming up the next fidget fad to take over the Internet marketplace.

Who is this business right for?

While a significant amount of capital isn’t required, this industry does require an entrepreneurial spirit, an inventive mind, and a deep understanding of your target audience. If you possess these qualities, as well as the drive to be your own boss and manage a business in a dynamic industry, opening your own fidget toy business could be the “career change” you have been looking for.

What happens during a typical day at a fidget toy business?

There are many moving parts (pun intended) in managing a business of this genre. The fidget spinner became an overnight sensation, proving to the business community that there is one overriding component contributing to its success - marketing. Therefore, the bulk of your time should be spent mastering your marketing strategy, ensuring each new product successfully reaches its target audience. In your marketing efforts, you will need to conduct thorough research, getting into the minds of your customers. This will not only shed light on how you market to them, it will also assist you in identifying changing trends and what products best fit their needs, both now and moving forward.

Once you have gained this valuable information, your team will need to work on new inventions and coming up with the best strategy for moving these ideas from paper to production and, ultimately, to the marketplace. While you will likely want to distribute these items directly to customers yourself, it would be beneficial if you are able to tap into other sales platforms, both on a national and international level. Fulfilling order requests, addressing questions and concerns, and seeking out new opportunities will be a part of your everyday routine.

What is the target market?

While these toys are primarily geared towards children, your marketing efforts should target both children and parents. The parents are, ultimately, who have the buying power, so it is important that you appeal to them as much as the kids you are catering to.

How does a fidget toy business make money?

A fidget toy business generates revenue from the sale of each toy. Initially, filling orders will be on a smaller scale, with individuals visiting your website to place their order. However, as your site gains popularity, you will start filling larger orders, distributing directly to retailers.

What is the growth potential for a fidget toy business?

As demonstrated by the phenomenon that is the fidget spinner, there is the potential to realize significant profits and experience remarkable growth. For long-term success, however, you will need to either invent a product that is recognized on an educational, therapeutic, and/or occupational level, or continue to produce items that follow the latest in industry trends.