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Children's Educational Toys Business Plan

Management Summary

ToyLearn has been founded and will be run by the husband and wife team of David and Jen Funster, each bringing specific and valuable skills to the venture.

  • David: received his Engineering Degree from the University of Rochester. Upon graduation David went to work at HP where he worked on product development. While this work was enjoyable, he longed for more autonomy and began looking for a new position. David found what he thought was the perfect opportunity at Nintendo dealing with handheld game development. David spent four years at Nintendo becoming quite proficient at game development. At the end of his third year he began having serious conversations with his wife Jen about starting their own company. David spent one more year at Nintendo, saving up money for the newly anticipated venture.

  • Jen: received her Bachelor of Arts and her Masters of Education from Case Western Reserve. Following her Master's Jen went to work for the Montessori Institute. At the institute, Jen developed educational tools for two to six year old children. While this was a rewarding experience, there was a decent amount of bureaucracy which prevented Jen from working on projects that she thought were of greatest importance.

At some point Jen began to chat with David and they had the epiphany that between the two of them they had the skills to develop learning toys. They welcomed the chance to work for themselves and began to work on their first product. Jen was able to provide incredible insight as to the design of a product that incorporated the fun aspect of a toy with the teaching capacity of a educational tool. David immeasurable contributions was the schematic development and one-off manufacture of the prototypes.

7.1 Personnel Plan

  • Jen: marketing, product development and operations.
  • David: product development and engineering.
  • Sales
  • Customer service: this position will also help out with bookkeeping functions.
Personnel Plan
Year 1 Year 2 Year 3
Jen $24,000 $30,000 $40,000
David $24,000 $30,000 $40,000
Sales $25,000 $34,000 $38,000
Customer Service $25,000 $34,000 $38,000
Total People 4 4 0
Total Payroll $98,000 $128,000 $156,000