Tips for Starting and Growing a Vape Shop

The exponentially growing interest in vaping in popular culture means that demand for vapes and other related products will soar in the next few years. Such a market opportunity would be the most brilliant time to establish a vape shop for enthusiasts.

However, starting a vape store is one monumental task like any other business endeavor. If you still intend to open your shop, stick to the following tips we got from Eurovap Laval from the starting phase up to the stage where you need to grow your business strategically.

The Starting Phase

Draft a business plan

Perhaps the initial tip in the beginning phase of startup establishment – preparing a practical business plan or strategy – is the most vital one. A standard business plan encompasses details regarding your startup, such as operational costs, target demographics, marketing strategies, competitive analyses, financial projections, and brand reputation.

Furthermore, a solid business plan enables you to unravel unknown variables which could pose a problem along the way and serves as your guide to staying on track with your startup goals and creating various solutions.

Know your local regulations

A vape startup differs from a usual retail business based on the permits and legal requirements involved. Thus, you should proceed thoroughly with your preferred legal entity or business structure (sole proprietorship, partnership), the registration for local and national taxes, and business accounting, among other considerations.

Understanding the business licenses to obtain and the laws you must comply with in the future is the first step to seamless coordination with local authorities. In most cases, every state has a set of regulations, even in selected localities statewide. Moreover, tobacco sale and use laws could also cover e-cigarettes and other associated products.

Select an ideal shop location

Choose carefully the most lucrative place to do business. Specifically, look for an available spot with an appealing storefront, substantial traffic, and prominent visibility.

Look for trustworthy suppliers

The last tip in the starting phase, but not the least significant, is to get your hands on an initial product inventory. Find some credible suppliers that offer products your prospective customers will surely love.

Additionally, even though you’re already targeting a niche demographic, still do your best to cater to the largest vape user count as much as possible. A few different products to sell, such as e-cig starter kits and customizable vape kits, could help kickstart your store operation.

The Growth Stage

Create an online presence

As with most startups, a vape shop would benefit the most from having a prominent presence over the Internet, be it through your website or social media channels. From there, build your online presence slowly but surely.

Practically speaking, don’t just rely on having an official website for your vape shop alone; harness the power of your social media channels’ market reach. A social media account requires lesser maintenance compared to a website.

Deliver excellent customer service

It’s a given that newly established businesses that offer excellent customer service will gradually stand out among their peers in the long term. To deliver top-notch customer service, hire the most qualified store employees, resolve customer inquiries quickly, offer zero-fee shipping beyond a particular amount total, and provide after-sales customer support.

Keep up with the most recent vaping trend

Finally, it’s essential to anticipate and identify the contributors that may impact your business in the future to stay ahead of the competition. Stay updated on the latest e-cigarette smoking trends, such as product updates and regulations.

Setting up a vape shop can be tricky, but once you bear in mind the outlined tips, your business has a higher chance of achieving success.

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