Starting a New Sex Toy Retail Business

New Brick and Mortar Store Checklist

You are looking into opening up a new brick and mortar sex store business.  Before you open up your doors, there is a large list of things you need to do.  Honey’s Place has provided you with this Sex Store Retail store checklist that breaks everything down that you need to do before starting your retail adult novelty business. 

1.  Get support from friends and family

You’ll have enough challenges without resistance from friends and family. Get them on your side so they will be your cheerleaders and root for your success.

2. Create a business plan

This business plan will be your roadmap to help with your overall success for your business.  Many first time businesses believe that you don’t need a business plan.   Keep in mind that, creating a business plan with financial projections allows you to stay organized and to help you to stay focus on your goals.

3. Apply for an EIN

An Employer Identification Number (EIN) helps you separate yourself from your business. You’ll need it if you plan to incorporate your business or open a business bank account.   EIN numbers are free; apply online.

4. Research and apply for business licenses

More than likely you will need a business licenses for your startup business,depending on your industry and where you are located.   Here in the United States, the Small Business Association (SBA) has a helpful business license and permits tool. 

5. Choose a business name

You want a name that will stick in your target audience’s heads. And another company shouldn’t already take it. Do Google searches and use a corporate name search tool to see if the name you have in mind is unique.

6.  Check for local zoning laws

Before signing any lease, check with local city or townships for any local zoning laws restricting the sale of adult novelties.  City zoning regulations dictate the type of business that can open in their town.  Many cities and townships regulate adult sextoy businesses with zoning ordinances. These ordinances normally define any sex toy business in the same category as other sexually oriented businesses including " adult arcades ,adult bookstores or adult video stores, adult cabarets, adult escort agencies, adult motel, adult motion picture theater, adult news rack or adult performance and encounter (live) business." We have seen many brick and mortar stores set up their stores to specialize in lingerie and are considered to be lingerie stores.   These businesses may not be restricted to the same zoning laws as “adult” businesses.

7. Rent or lease retail space

When running a retail business, pay attention to foot traffic, accessibility, and other factors that will affect the number of people that will walk in your store. The maximum amount a business should allocate to their lease payment differs depending on the industry. The experts recommend a range between 3 % to 10 % of gross monthly sales. Ideally, you should spend no more than 10% of your monthly gross sales on your lease payment.

8. Set up a website

Get your website up and running as soon as possible. It is a must for any business today. Honey's Place offers a website platform called Build the Store. Build the Store is designed as an easy to use, a customizable website to meet your needs and budget.

9. Register social media profiles

Getting set up on the major social media channels (Facebook, Instagram, and Twitter)

10. Open a business bank account

It’s all too easy to use your personal bank account to pay for business expenses now, but it can become a mess to sort out later.

11. Set up your Merchant Account and POS system

Credit card processing companies allow all types and sizes of businesses to boost their sales by accepting both credit and debit card payments.

12.Use sex toy and lingerie suppliers like Honey’s Place 

Finding a good source for your store’s inventory is crucial for any type of brick and mortar sex toy business.   Honey’s Place is your one-stop shop for lingerie, sex toys, lubricants and Home Party Supplies under one roof.  By using wholesale distributors like Honey’sPlace is one of the ways retailers can be more successful in their business.

13. Order business cards

As a startup founder, you’ll be doing a lot of networking, so order plenty of business cards. They are inexpensive enough that you can reorder them later if things change.

14. Assign responsibilities to co-owners

If you have one or more owners, it’s imperative that you decide who will do what up front. Put it in writing.  These misunderstandings can harm your business.

15. Consult your insurance agent and secure coverage

You may need insurance of one kind or another, like liability, workers’ comp, or health insurance, especially if you hire full-time staff.

16. Hire your first employee

Depending on the type of business you have, you may need staff for you may be able to outsource to freelancers, interns ,and third-party vendors for a while (service and tech businesses).   Just remember, trying to do everything yourself takes you away from growing the business. 

17. Work your network

Reach out to former co-workers and colleagues, as well as friends and family. Ask for guidance and network opportunities to help with other things on this startup checklist.

Your checklist might be longer than this , but organizing what needs to be done before you launch and what you can take care of down the road makes it easier to prioritize your tasks.