In Part 1, Laura and Stephanie and their respective spouses, Bill and Robin, are finding it hard to make ends meet with both men having lost their jobs during the ongoing recession. The girls learn of a club called the Cow Shed, where predominantly ladies, offering services mostly of a personal or sexual nature, are auctioned to the highest bidder for a 24-hour period. Having discussed it with their husbands, they all agree that it's worth pursuing as a possible means of generating some much needed income.

They meet with the Cow Shed manager and agree to be auctioned, signing contracts which stipulate that 'moderate corporal punishment may be applied if complete satisfaction is not provided.' On the day of the auction, Stephanie and another woman are bought by a gentleman who expects them to perform as schoolgirls in a role play situation at his 'Academy'. During the intensive session they are given several tests to perform with the loser being subject to a caning each time and the overall winner receiving a large cash prize.

Laura's services are bought by a young female entrepreneur who wants her to engage in sexual activity with her twin 18-year-old brothers, who are relatively inexperienced sexually. It turns out to be a long and taxing night, at the end of which Laura feels that she has earned her money! In addition, she is found not to have given complete satisfaction and is subjected to a painful paddling by her female employer.

Part 2 sees the temporary closure of the Cow Shed due to legal difficulties, but Stephanie and Laura are invited to participate in the Ladies Circuit, a female boxing enterprise based in Bangkok, Thailand, which could provide a new source of possible income for them. Taking their husbands with them as corner assistants, the girls agree to participate and soon begin a training programme. They soon witness their first female boxing match, where they learn that the losers are subject to corporal punishment, being fastened to an 'A' frame in the centre of the ring and then caned, much to the delight of the predominantly male audience. Both girls have their successes but both also have losses and have to endure the resultant canings, and in one match Stephanie and Laura find they have been assigned to box each other...