When it comes to the entrepreneurial world, many people have ideas about what type of business they want to go into, but most times they don’t know how start it. A lot of vape or e-cigarette shops have become successful in the US, even if those who opened them didn’t have immense experience in the world of business. In fact, some of them don’t even understand how they have succeeded in the vape industry without formal experience in the retailing. When opening a vape shop, there are a lot of things that everyone needs to know. So what should you do when starting an e-cigarette business?
Let’s find out:
Mind about the location of your vape shop
There is a difference between picking a good location and picking the right location. A business location could be good but not the right one. If you don’t choose the right location, you won’t enjoy good returns of your business. Your vape shop should not only be near an anchor store but also in an area with high foot traffic. When your vape shop is near anchor stores, you are likely to get new customers every other day. Don’t open a vape shop in any place that doesn’t have a widespread appeal and foot traffic.
Anchor stores could be:
- Movie theaters
- Gas stations
- Grocery stores
The brand you create for your vape shop should be solid if you are to realize good profits. Never make a mistake of coming up with a brand that won’t resonate well with the location and the target market. There are different vape shop brands on the market today. If you aren’t sure of the best brand to choose, just get one from the E-Cig-Brands.com’s top electronic cigarettes brands list. Remember you don’t just want to have a nice vape shop, but a successful one. You would say you have a successful vape shop if it doesn’t strain to craft and communicate its brand image consistently from the top to the bottom.
When the customers walk into your vape shop, they would know what to expect by checking the:
- Location to the decor
- Name of the store
People who end up with a successful business start by doing a thorough market research. Research is a step you shouldn’t skip if you are serious about the vape business you intend to start. You need to know who your competitors are in that area before you set in. A vape shop location could be perfect but the level of competition could be a threat. The quality of your business products and services must match or exceed those of your competitors to realize unmatched success. You need to craft some uncommon strategies to succeed in an area with stiff competition.
Calculate the cost
Having an idea to open a vape shop is one thing and calculating the cost of having it is another thing. Vape shops are of different types and the cost of starting up a vape shop of any type is different. For a small vape shop, you may tentatively need about 25,000 dollars while you may spend about 50,000 dollars to start a large vape shop.
Starting a vape shop involves numerous expenses on:
- Space building
- Design work
Inventory happens to be the biggest expense when starting a vape shop. Inventory expenses build up fast but you shouldn’t ignore them.
Inventory expenses include:
- Starter kits
Where you get your vaping supplies would determine how much they would cost you. Be sure the supplier you get has no track record of frustrating other vape shop owners. A good example is Vaper Empire a UK-based company that has been in business since 2012 when it was founded in Australia. In addition to offering a huge selection of vaping devices and accessories at affordable prices, they also provide a wide range of e-juices. Vaper Empire is one of the most reputed e-cigarette brands on the globe and their stuff comes with amazing discounts from time to time.
Another is Moreish Puff, with over 40+ unique vape juice flavors and growing. Established in 2016, the company offers great deals for both retail and wholesale customers
ePuffer is another popular vaping company where you can find quality wholesale vaping supplies at extremely affordable prices. In addition to having been in business for more than a decade now, ePuffer provides a huge selection of vaping devices, including e-cigs, mods, and accessories. There’s also a myriad of e-juice options to choose from their online store. Their customer service is great and amazing discounts are almost always available.