Considerations Before Opening an Online Adult Retail Store

[LadyGardenSnake]

Perhaps you have made the decision to open your own online adult retail store. First, congratulations. Second, don?t forget to do things right! TAW?s Jennifer Leigh has a lot of experience with adult retail stores, and she has graciously chosen to share some thoughts on what you need to be thinking about before you go live with your first attempt at selling sex products. Follow her advice and your new online business will proceed with fewer bumps in the road.

It never ceases to amaze me when people just throw up a site and wait for the money to roll in. Granted, the whole idea of a web store is to generate revenue with little investment; I mean that?s why everyone jumped in to the dot-com fad in the first place. Nothing, though, should be done with out much thought, and no business, be it web or real world, should be operating without the basic business tools. Frankly most of these key tools can be had inexpensively or even produced on your own. Please be sure that you have considered the following things when starting up:


LLC. You can form your own LLC without an attorney. There are kits that are available at any national bookstore or office supply store. I know that mine was affordable and I obtained it from Amazon.com. The LLC protects your personal assets from those of your business. If you go under, you want to make sure you don?t lose anything that is not connected with the business.
Federal Tax ID Number. You need this for accounting purposes and to allow you to buy your product tax-exempt. In order to obtain one all you have to do is contact your local Chamber of Commerce for the phone number and web address of the appropriate government agency. This actually only takes a matter of minutes.
A Business Plan. Think carefully about how much you can invest in terms of money and time. You also need to make a schedule for yourself. Dedicate time to the project and stick to it. Figure out how to market cheaply, or better yet, cost free. I have many tips on marketing in TAW?s archives. Have a set two-year plan on how you want your business to grow. Don?t invest everything you have in an online business as you could sink quickly. Remember, this is a part time job to start and you won?t be getting rich overnight. Most of all don?t get discouraged by a slow start; getting your business known takes time and there is a lot of competition. Perseverance will pay off in the long run.
An Accountant. I don?t care if it?s H&R Block, you need to do your taxes quarterly. Save every single receipt, even those that may not apply. You will want every write-off you can get. As a home-based business you will also get a break based on your electric bill, phone bill, internet service charges and you?re your rent/mortgage costs, since your home is involved in generating revenues. Don?t forget that all office supplies, packing supplies and equipment used to run your business also apply.
Community Standards and Laws. You don?t want any obscenity suits so make sure you do some research on states that may or may not cause you trouble. Know your own community standards and obscenity laws as best you can, as you will likely be holding merchandise in your home. An obscenity charge can be quite expensive to fight, as I so regretfully found out.
Communication. Please be sure to talk to veterans in the business. There are many chat and newbie boards where you can seek advice and get questions answered, so take advantage of these resources.
Distributors. Make sure you speak to several, and do price comparisons. Look for a salesperson you can trust. Also look into how well stocked each distributor keeps its warehouses. The last thing you need is a popular item out of stock.
Product Knowledge. You need to know what you?re selling. It is difficult to give great customer service when you yourself have no idea what you?re selling. If you?re not a consumer of adult merchandise then you have no business becoming a retailer of such products.
Customer Service Department. This is the most difficult part of any retail business, even with a computer between you and the customer. Make sure your service is fast, efficient, and that you back up what you?re selling. Make sure that shipping time, stock availability, and return policies and clearly visible on your site. With all the competition out there you want to be sure that each customer is a return customer.
Until next time I wish all of you a great start to your new business venture.