As I've posted previously, Squarespace do not yet provide a way to approve members and this doesn't seem to be high on their priority list. There are some workarounds which, whilst they aren't 100% effective and I wouldn't recommend them to protect personal or private information, may be enough for your situation to hide a store page and the products it contains. It would certainly offer significantly more protection than any third party products like SentryLogin and MemberSpace as these don't provide any real protection for Squarespace content.
If you are a Circle member, you can vote here: Require approval of members to join Member Sites.
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