Want to open a vape shop?

The e-cigarette industry is still fairly young with many major players just now starting to really gain market share. For many people, the term “e-cigarette” brings to mind an image of a Cig-a-Like or similar product. To veteran vapers the term conjures up a pictures of high end RDAs, high power box mods, and other hardcore devices.

When deciding to open a vape shop many people have a vision of selling the hottest high end devices and having a room full of hobbyists talking about the latest trends in the vapor world. What many people fail to realize is that those entry level devices are your gateway to not only gaining a new customer but also gaining the opportunity to have them keep coming back and spending money with your vape shop as the advance through the world of e-cigarettes.

By and large, starter kits make up the majority of e-cigarette products sold in the USA and in Europe. As much as you may want to sell a newbie a Kanger Sub-Ohm Tank with a Siglei 150 watt box mod, stop and think about what you are actually doing. First, you are asking a new customer who may be unsure about e-cigs to make a very large first purchase. Second, you might overwhelm them with terms like variable wattage and resistance. And lastly, you losing revenue by spring boarding what would be their natural progression through the vapor world. Not to mention the obvious safety risks and potential legal impact if that person were to get hurt.

How to Open a Vapor Shop

Opening a vape shop has been proven to be a high profit, low investment situation for people who desire to open their own e-cigarette business. Because of the relatively low starting costs, many people can break into an industry that they love without much risk. With low startup cost comes higher turn around rates and many shops go under in less than one year. Many factors are involved but iVape Local decided to put together some key things to think about before you open a vape shop.

Step 1 – Create a Budget

You absolutely must create a budget for your e-cigarette business. Put pen to paper and come up with a set of recurring monthly costs. Include things like inventory, rent, utilities, payroll, etc. Always overestimate these expenses so that you don’t find yourself in a pinch once your vape shop is open.

Step 2 – Create a Unique Name and Logo

Your brand is how your customers will remember you. Keep the name short and sweet so that people will easily remember it. You can find a logo design on Fiverr and get a neat logo for $5. Use your new logo on business cards, your e-cigarette website, and everywhere you want to be noticed.

Step 3 – Find a Great Location

You want your store to be in a high traffic area. If your store is located in a place that’s not very populated or difficult to find, you will lose business to your competitors. If you cannot find a good location it be best to just hold off until you can. It’s better to wait for a good location than open your store in a bad location and fail miserably.

Step 4 – Buy Insurance

For obvious reasons you will need insurance. Be sure to purchase quality insurance that will pay any claims with very little arbitration. Cheaper insurance = harder to get paid after a claim.

Step 5- Find a Good E-Cigarette Wholesale Company

E-cigarette suppliers are a dime dozen. Good e-cig suppliers are hard to find. Many e-cigarette wholesalers will want you to place a minimum order to get good pricing or they will make you place a large first order but will lower the minimum order quantity (MOQ) going forward. LA Vapor and Local Vape Wholesale are two suppliers who do not have MOQs. Both of these companies sell high quality, name brand vaping products. You can also source your inventory from China which will lower your costs. Once your shop grows to the point of being a big brand in your local market, you can get branded products from China with your store’s logo.

Step 6 – Promote and Market Your Vape Shop

There are many ways to promote your vapor shop and let customers know that you are opening. You can leverage social media by setting up Facebook and Twitter. Having a good website with solid local SEO is absolutely key to making sure customers can find you. iVape Local can help with this and we offer special deals for new businesses.