Romal Banga

Owner, Loottastic

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Lianna Harrington

Who is Romal Banga, could you please introduce yourself?

Hi, I am Romal Banga, founder of Loottastic. I have been a STEM educator for almost a decade. I am an avid reader and love traveling. I am passionate about learning and taking up new challenges.

What is your business and when did you start?

Loottastic offers open-ended, sensory, Montessori aligned kits, resources for kids. Natural, non-toxic scented playdough in addition to sensory fillers and wooden learning boards are some of our products. Loottastic was started in April 2020.

What inspired you to start your business?

Kids love doing things. They love using their hands, holding, scooping, pouring and getting messy. And each of these aids development. I started making sensory play bottles, shaker bottles, texture bags etc for my son since he was an infant, we moved to water play, rice, sensory dough eventually. I observed how engaged he would be with the sensory play as opposed to a zillion plastic toys at home. That is how Loottastic started, and I am enjoying every bit of it.

What were the challenges in the initial stages of your business and how did you overcome them?

Oh! The sweet hard initial days! I had no idea how or where to begin, beginning from scratch with little knowledge of the market and social media, was indeed a learning experience. My biggest challenges included funding, sourcing raw materials and packaging the bulky kits, and shipping them at affordable costs. There were many roadblocks along the way but the community of small business owners and seeking help did make it happen!

What motivates you about your business?

The impact of it all. Returning customers, happy pictures, and great reviews always motivate me to continue curating creatively for the tiny humans in our life. Besides, Winning the Diamond award for the best toy store in Oakville 2021 – Oakville Beaver Reader’s Choice Awards and Platinum award for the best new business 2021 – Flamourough Review Reader’s Choice Awards has made me more determined than ever to keep going.

What advice would you give to other entrepreneurs?

Take risks, being an entrepreneur is to fail and fail often, but learn quickly and move on. Celebrate all the victories along the journey big or small.

Interesting fact most of the people do not know about you?

Before starting a small business in Canada, I professionally taught STEM to high school in the US and India.

The best business advice I ever received was…

Do not make revenue your only barometer for success. Increasing cashflow is a great sign of success, but take pride in the fact that you are succeeding in doing something you love and that brings value to others.

My definition of success is…

Achieving financial stability whilst enjoying my creative pursuits without sacrificing my personal life and freedom. If I can keep both my kid and company happy, I am successful.

If I could go back in time when I started my business, I would tell myself to…

Set realistic goals, and don’t be concerned with how big or small they are. Just stay focused and love the journey.

Three books I recommend for entrepreneurs are…

The 7 Habits of Highly Effective People by Stephen Covey

How Money Works by DK

Secrets of Six Figure Women by Barbara Stanney

My personal tagline is…

Add the “extra” to the ordinary!

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