You may have considered opening your own store to sell vapes and all their corresponding paraphernalia, however, there are many things you must consider beforehand ahead making the jump.
In the following article we will guide you through the steps to make sure you have the right knowledge and tools for a sure success and a profitable store.
Is There a Vape Store Near Me?
The first thing you must consider is of course the competition. This will mark your client base and serve as a pilar from which you can determine your own products and pricing.
Today, thanks to our modern search engines used online, finding vape stores near you is easy. A simple search on your preferred engine will give you the easy answer.
There is a small possibility that a store might not be correctly registered on google or other search tools. This gives you a great advantage as it is a huge loss for the competition.
Local Vaping Laws
Each area has its own specific set of regulations regarding E-Cigarettes.
In America, there are well defined restrictions and taxing which have been implemented by the FDA.
You can easily browse the current obligations in this State System E-Cigarette Fact Sheet, kindly provided by the CDC.
Keep in mind that you will also need a store license to sell E-Cigarette products in a similar way as tobacco as stated by the FDA.
Costs of Opening a Vape Store
The cost of aperture greatly depends on the location for your store and its size.
It’s possible to start a store for as little as 15.000$ though the costs will increase if you are installing your vape shop in bigger metropolitan areas such as large cities.
Once you have determined the location, you must research for legit suppliers. Going cheap is not always best as your customers will notice the quality of your products, affecting your vape store’s reputation; Quality over quantity.
Wholesale Vaping
A legit supplier will have wholesale inventory ready for you to purchase and use in your store.
Here at ALD Group Limited they offer nothing but the best, being a noticeable leader in both manufacturing and vape supplies ever since 2009. The quality and fabrication capacity are simply matchless.
Store Insurance
You never know what can happen. For this reason, it is imperative to insure your store for any level of issues. The kind of coverage you contract will depend firstly on your budget, which can be increased as your sales and revenue grow if need be.
Creating You Vape Store Business Plan
It’s extremely important to have a plan and not rush in blind with your Vape store.
Many resources exist but only you can know what is the right plan for yourself.
Score.org offers a great service regarding planning amongst other business friendly recipes.
Concepts to Keep in Mind:
- Expenses for Startup.
- Organization & administration.
- Product & Service planning.
- Marketing Strategy
- Your Enterprise Description.
- Operational & Finance planning.
A good idea must lead to planning, which in turn will mark your strategy for a successful plan.
Do Your Research
Targeting your audience in the correct way will be primordial to your vape store’s success.
In this industry the consumer has been defined as follows:
Tobacco Smokers
Many new vape enthusiasts come from smoking cigarettes, simply searching for an easy way to quit while not quite abandoning the habit of intaking nicotine. These are new consumers and a prime target for your marketing strategy.
Present Vape Users
Current vape users mean a loyal and constant cashflow for your business. Attracting them to your store requires positioning yourself above the competition. For this you need to offer greater benefits for them switching from their previous supplier to you, the new ‘’vape store near me’’.
To Conclude
Kickstarting any kind of business can be a daunting task. Being well informed and following the indicated regulations as well as having a thorough strategy and planning will undoubtedly keep you ahead of the curve.
We wish you the best of luck in your entrepreneurship.
