More and more people are planning to start a sex toy business these days. So, we put together some important steps you should follow. Without any further ado, let’s check them out.
1. Make a business plan
The plan should include the name you have selected for your store, your business’s definition, finance, a plan of things to do, aim, where your shop is located, etc. For example, Sexy World Browns Plains is a great name.
2. Work on the financing application
Do so except that you are affordable enough to fund your new store. We suggest beginning at your personal bank. Likewise, ask for a corporate checking account and information for using the customer’s credit card.
3. Find a decent location
Evidently, you do not wish to locate your store in an area where another sex store is already located. We recommend finding a location where there are stores frequented by adults. These include nightclubs, hair salons, dress stores, and so on.
4. Obtain licensing needed to start a sex toy business legally
For the info, ask your city administration. It will differ by state and city. Yet, there is a high chance that you need at least a business license. It is significant as beginning a sex store likely requires many government interactions. You may want to send a letter requiring guidance on beginning a sex business to a business advisory funded by the government.
5. Establish wholesale accounts with sex toy wholesalers
You can visit a wholesale expo. There, sales representatives are available to support you with the list of goods to start running your shop. You may add a few men’s sex toys to the inventory, for example, penis pumps. They are great for females to purchase as presents for males.
6. Invest in a POS when you start a sex toy business
To start a sex toy business, investing in a point of sale from a trusted provider like ConnectPOS is critical. For instance, ConnectPOS provides powerful multi-warehouse stock control, helps with a smooth buying experience, and delivers seamless integration with many eCommerce platforms. Its systematic store layout and loyalty programs are worth noting as well.
7. Employ an accountant as you start a sex toy business
This employee should deal with the accounting system with ease. He/ She should be able to use MYOB, cashflow manager, etc.
8. Arrange your shop’s layout
It is another important step. For example, you may want to have the staff who mans your cash register facing the front door. This way, he/ she will welcome customers smoothly when they enter.
9. Hire and manage your employees
Ensure every staff employed has checked out your staff manual. Doing so ensures your store is operated in line with your regulations.
10. Leverage front windows, showcase as a powerful marketing approach
Put attractive garments in your window to draw in visitors. Also, promote your shop via social networks as well as on the Internet. Coupons and stage demonstrations on your opening day can help too.