Vision: To become the Supreme Makers of Human Powered educational toys that challenge dexterity & intelligence. We showcase our talent as we develop the eager minds and positively impact our communities.
Mission: We make Human Powered Educational Toys of the Highest Quality. No flashy lights, no batteries; just human engineering and toys.
Values: Fun, creative, quality, reliable, loyal, dependable, fair, diverse, innovative
2017/18 Revenues $236,000
As of 2015, all manufacturing was returned to South Korea. USA manufacturing failed to deliver quality satisfactory of our standards. 23% of the purchase order could not be assembled. The escalating costs of BAMKO & poor USA quality have made South Korea the only option in manufacturing. With a new Packaging agreement in Shenzhen, China, we can assemble and manufacture in Korea then ship to China where the puzzles may be packaged. Although, special orders will continue to be packaged in Astoria, NYC where currenly all puzzles are packaged as of 2016 to present.
Domestic Market Expansion:
We will start our growth by expanding within the domestic market in the USA. By focusing our attention on specific trade shows and organizations, we will be able to grow within targeted stores in the USA and expanding from key geographical areas. Currently, and key to our growth is the NYIGF (Spring), the TIA Toy Fair, MSA, and the ASTRA shows. These shows are all geared to getting high end retailors for our wholesale business in privately owned gift stores, toy stores, museum gift shops and university book stores. With a toy and marketing targeting college age late teens and young adults, we have identified a few more shows to continue our expansion. First is the Book Expo in New York City (Spring). This is designed to get into more book stores as they expand their retail base into brain teasers and also the college book stores. This also will expand with airport terminal and transit terminal stores where we can get premium retail prices and continue to expand our margins. The next shows are geared to expand geographically and are The Atlanta Gift Show and the Dallas Mart. We will also identify a yearly show on the west coast to continue our presence with LA Mart and San Francisco Gift Show. Our budget for this will need to expand as the profit margins expand. We have already started the process of bringing in new manufacturers in China (Los Angeles based BAMKO) and are adjusting price sheets for 2013. We have found the public willing to pay $16 retail on an average and will closely MAP the price starting 2013 at a retail of $13.95 as the lowest price available. Once we have acquired the capital to manufacture, package, and fulfill all of our products in the USA, we will continue the growth in Canada, Mexico & Europe in 5-7 years.
By targeting these types of stores and ignoring the Large volume retailors designed to decrease our margins and cheapen our brand, we are geared for the “revolutionary” attitude of being the “anti-big boy” giving us an image of a responsible caring company and a unique marketing strategy and likability that targets the new line of thinking. Even though we will need to move production to China, we will still have the “local” identity that many consumers in the USA are looking to find. This position in the market place represents the new attitudes in consumption and is displayed the growth of Whole Foods and Trader Joes. More toys are selling themselves as “green” and the word sustainable is one of the hottest terms in the marketplace. We have a report that identifies our carbon footprint on the planet to align our responsible way of thinking and are as sustainable a toy, packaging and ink included; as ABS acrylic can be at this point in time. All of this is geared towards our target market as these issues are at the fore front in their views of consumption.
As of 2015, all manufacturing was returned to South Korea. USA manufacturing failed to deliver quality satisfactory of our standards. 23% of the purchase order could not be assembled. The escalating costs of BAMKO (China) & poor USA quality have made South Korea the only option in manufacturing. With a new Packaging agreement in Shenzhen, China, we can assemble and manufacture in Korea then ship to China where the puzzles may be packaged. Although, special orders will continue to be packaged in Astoria, NYC where currently all puzzles are packaged as of 2016 to present.
We intend to use $10,000 for the move to packaging in China along with additional savings upon case packing boxes and then ship to us here in NYC for fulfillment. $15,000 will be used to pay down credit card debt and $5,000 will be added to our cash flow which has been low since a few unforeseen banking errors occurred.