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NEWS AND EVENTS
» Toys-on-rent eyes pan India presence
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Prajakta Kapure was bitten by the entrepreneurial bug after she turned homemaker. Two years ago, Kapure decided to get into the business of renting out toys. Toys-on-rent was thus born. “Children get bored of their toys easily. With toys getting more expensive each year, it is not easy for parents to keep buying new toys. Toys-on-rent solves the problem,” Kapure said.

The company stocks branded toys, Kapure said. Her venture today makes an average INR60,000 a month. Operations are limited to one city, Bangalore, for now but expansion is on the cards. Toys-on-rent plans to take the franchisee route to be present in 12 metros by the end of the financial year, Kapure said. Excerpts from the interview:

On customers…

Families with working mothers are regular customers. Most of them have the money but complain about the lack of time to go shopping for toys. We allow customers to rent a maximum of three toys at a time. This fits their budget and saves precious time because we deliver, and pickup toys from their doorstep.

On competition...

There is not much competition for Toys-on-rent as of now. I do know of physical toy libraries but renting toys from us is more convenient.

On the company’s expansion plans…

We are looking to take the franchise route to expand across India. We hope to be present in 12 metros by April next year.

I am targeting stay-at-home mothers for francshisees . Many women quit their jobs to raise children and are open to working from home. Our’s is the ideal business to run from one’s home.

All a franchisee needs is about 100 sqft of space to stock toys. When the business  grows, most toys are in circulation and therefore one does not need additional space for inventory.

On investments…

Going forward the company will invest in branding and marketing. Franchisees will have to pay an annual fee and invest in inventory themselves.  We have worked out revenue sharing arrangements. For instance, a franchisee would share 50 percent of their total revenue with us.

On challenges of doing business..

Retaining delivery boys in the initial six months was a challenge. We could not pay our delivery boys high salaries initially and some would vanish after working with us for a few days. On-time delivery and pickup is the key to success in this business.

Advice to women entrepreneurs…

Do whatever it is that you like doing. Be confident at all times. Nothing can be done alone so find the right business partner. I was lucky that my husband supported me at every step.

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