If you’ve landed on this article page, you’re probably searching for a
good business idea—an idea that’s light on the pocket but heavy on
returns, promising both a fulfilling journey and potential profit.
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How
to start a sex shop in Nigeria
A sex shop can consist of a shop selling any number of sex items
from lingerie to sex toys and beyond so this is a very generic
article that should give you the basics. While you constantly
hear that there’s money in sex there is a number of things that
you need to get right in a real physical shop the first time as
opposed to trial and error, this is because a real shop has so
many more expenses.
Common sex toys include male vibrators, vibrators, dildos, butt
plugs, lubricants, BDSM gear, and more. Due to the improvement
in people's quality of life and the increasing acceptance and
openness of people's sexuality, sex toys are no longer
considered taboo or shameful, but a normal part of human
sexuality. It is for these reasons that the sex toy industry has
grown significantly.
A lot of industry giants started with a corner shop type of
business, but today, digital is the only way to go. Google
reports 1,220,000 searches of the term “dildo” and over 550,000
searches for the word “vibrator” each month.
The 2008 economic crisis hasn’t hit the sex toy industry. Quite
the contrary — the sex toy industry has begun seeing an increase
in sales in 2009 and every year since. In fact, Adam and Eve
reported a staggering 17% increase in vibrator sales that year.
Right now, the sex toy industry makes over $15 billion annually.
The profit rolls in from over 80 million different sex toys
worldwide.
The sex toy business industry
The sex toy industry is booming worldwide. And how could it not,
when 44% of women between the ages of 18 and 60 have used a sex
toy at least once. And men don’t fall far behind! In fact,
around 42% of men own or have bought a sex toy.
Draw up a business plan for your new sex shop. It’s the single,
most important step for a business. The business plan should
include the name you’ve chosen for the business, the definition
of the business, funding, plan of action, future vision,
location and all pertinent research you’ve done regarding the
industry and other local sex shop businesses.
Look for a good location. Of course, you would want to avoid a
location that already has a sex shop located close by. Look for
a location in a mall or strip mall that already has shops adults
would frequent, such as dress shops, spas, and hair salons, take
away nightclubs and cinemas.
Convenience And Anonymity
Most people are not ready to buy sex toys in public. That’s why
an online sex toy business is more profitable. They allow people
to buy whatever they need without shame or embarrassment.
Furthermore, some people just don’t like making long trips, and
they prefer to do it from the comfort of their homes. Online sex
toy shops enable just that.
Income And Profit: Going digital has one huge advantage —
profit! You get to keep a better part of your revenue than if
you had a physical shop. Since there are no additional expenses
like rent and utilities, you can profit more and get a better
ROI.
Fast deliveries are one of the most critical factors that you
should consider when choosing the right supplier. Many people
buy sex toys on an impulse. Therefore, by prolonging the
delivery time, you’re diminishing your chances of making that
person a repeat customer.
Make sure you always check what type of contract the supplier is
proposing and whether the overall proposal is worth your time
and effort (meaning, whether there’s enough room for profit). Get our practical guide on how to open a lucrative Sex Shop. Designed to be an indispensable resource, the Sex Shop Business plan serves is an essential guideline for both new and established enterprises in the industry. It addresses business planning, operations, marketing, organizational structure, and finance and outlines how to effectively manage them.
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