You were sitting in the kitchen eating your favourite cereal staring at that bottle of cookies and cream e-juice when the thought popped into your mind. “Why don’t I start my own vape shop? “How hard can it be? All I need is a shop, some products, and I am ready to go. But there is much more to opening a vape shop than just the products and the premises. Let us get started…
Okay before we get to the legal aspect of things, let us first look at the basics that you need to start your own vape shop:
What is the most important thing when it comes to owning your own vape shop, product, etc?
That is right client satisfaction. Without satisfied clients, your product or shop is going to be everything but successful. So the first thing you need to do is think about how you are going to make your clients happy and how you are going to stand out from the vape shop that is a block away from you.
Next on the list is where are you going to locate your vape shop? Okay here is a suggestion, locate your shop where there is little to no competition because this will ensure that everyone in the area comes to you. Yes, you are going to get more customers if you are going to have your shop in town, but your rent is also going to be higher. So, get a location that is out of town.
Next, we have what you are going to stock. Okay, this is important because this can make or break your reputation. Why? Because imagine the following scenario, a client walks in, they want a certain kind of vaporizer battery, you don’t have it and this means you are losing that customer. Do research and see what is popular and stock up on it!
After making your competition study about the vape shops around, we get to the marketing part, this is where things get a little bit tricky. Because there are strict advertising laws when it comes to e-cigarettes. So using social media and word of mouth is particularly important when it comes to vaping. Are you going to have a website advertising your products and keeping your clients up to date? Or are you going to advertise it on Facebook and tweet about it on twitter?
Insurance, insurance, insurance…
Yes, I know what you are thinking: “Just get to the point already!” Choose an insurance company that understands the vaping industry. Your insurance needs to include the following: product, public and occupier’s liability, employer’s liability, and contents insurance.
Now we get to the tricky part…
Vape Shop Laws and Regulations
Although you do not need a license to open a vape shop you still need to be on top of things when it comes to the government’s regulations.
Restrictions and Penalties
It is against the law to sell nicotine products to people under the age of 18. There are the following penalties for companies that break the law:
- A criminal record to the person who sold to the person who is under 18
- A fine for the person who sold to the person who was under 18
- A fine for the company who was responsible for the sale of the product to the under 18
Training your staff for a vape shop
Your staff needs to be updated with the new regulations and laws and need to know the following:
- What the age restriction is
- What products are age-restricted (rather don’t sell any products to under 18’s even if it is not age-restricted or his nicotine free)
- What they must do if there is a person that is under 18 and wants to buy something
The meaning of white label
This is when a product or service removes its brand and logo from the product and then uses the brand that the purchaser wants. Here is an example, you go to Walmart and see the products that are made under their Great value brand, but this does not mean that Walmart produced all of these products. No! some companies were willing for their products to be wrapped in the Great Value packaging.
Now we get to OEM or ODM
OEM products are products that are sold by the manufacturer bases on the specifications of the buyer. Where ODM products are products that are pre-designed and sold under the brand name of the company that is purchasing it. ODM are products that are finished.
WHAT ARE THE ADVANTAGES OF CHOOSING AN OEM MODEL?
The advantage of OEM companies is to purchase quality products in larger quantities at lower rates.
WHAT ARE THE ADVANTAGES OF CHOOSING AN ODM MODEL?
You do not have to sit and waste your time on product development. This model is usually the most beneficial to companies because it saves time.
There you have it guys we have come to the end of this article. I hope you found it helpful and that you now know the ins and outs to open your own vape shop. Yes, opening a vape shop is not only choosing your location and products there is a lot more to it. But if you follow your heart as well as the laws and regulations, you will have the key to your new vape shop and success.