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options, more opportunities, more people look-
ing to go direct to the manufacturer; China is
easier to work with. There are many more op-
tions than there were 17 years ago.
BVM:
Will your members have to make any ad-
ditional investments to make the strategy work?
Smith:
They won’t have to make more of an
investment. Outside of the very first capital
investment that any new member had to make,
which was only $500, we have not required any
new capital investment.We’ve been profitable,
we stay profitable, and all these new initiatives
are being funded by our own internal growth.
BVM:
What does the landscape look like for
the specialty toy industry over the next several
years, and what challenges will you face?
Smith:
What will be different for our stores
is that many Main Streets, where many of our
stores are located, are struggling to find their
way in a world where people don’t want to
shop– they want an Amazon robot to drop
things on their doorstep within an hour of be-
ing ordered; they’re on their phones and they’re
much less attached to their communities. And
Amazon has convinced everybody that its pol-
icy of not collecting sales tax is good for their
business and not detrimental to the consum-
er. Our challenge is to find ways to make our
The Good Toy Group
stores more financially viable and more successful.
Whether it’s trends, whether it’s bringing in new
products, whether it’s digitally reaching out to cus-
tomers on Facebook and Instagram, and whatever
the next iteration might be, to find ways to speak
to consumers and let them know the service that
we offer, the knowledge that we offer, the excep-
tional, curated selection that we offer. Our chal-
lenge is how we will get that customer to interact
with us, whether it’s online or in the store. That’s
our challenge – that’s everybody’s challenge.
BVM:
What are some important points that you
would like our readers to know about your compa-
ny and its members?
Smith:
First of all, our people are independent
retailers because they’re independent. But the
good thing about being very independent is that
all of our owners are right where they want to be,
interacting with children. They usually have an ed-
ucational background or some kind of background
that has children as part of it. And they are relent-
less at finding the best toys for kids and making
the best suggestions. In our stores, you’ll find that
somebody will greet you; there’ll be a play table
or a place to play; they’ll be somebody who knows,
if your child is seven, what they’d really like to do
–whether they’re into games, or puzzles, or con-
struction, or art, or craft, and they’ll ask you ques-
tions about your child. And one of the best things
about all of our stores is the passion everybody
brings to making sure that your child gets the very
best tools and toys for them to play with, spend
time with, and use. They care about children. . . and
what else is more important?