We’ve recently shared with you the beginning information on opening your own vape shop. The crux of financing, inventory, regulations, etc. Here, we’re going to share the steps that experienced and successful vape shop entrepreneurs have shared with us:
Location, Location, Location
If there is an important first step (after getting your financials in order) it the location of your vape shop. Whether it is your home or your business, location is the utmost important things, and this may take some research on your part. Your store location needs to be where you’ll attract business, convenient to get to, and you’ll want to check on the city and state regulations for your type of business.
Successful owners of vape shops will tell you that not only is accessibility important, but so is visibility when it comes to the location. You need to be easy to find for the people looking for you and want to attract drive-by business. This will require signage which needs to be clear, concise, and of course, visible. Corner locations are the best in the fact that you can be reached by two different directions.
Once you have your vape shop location secured, you want it make a good presence. It should be comfortable feeling on the inside, welcoming and well-lit on the outside. You want your customers to be drawn inside and then to feel welcomed once they are inside.
Staffing Your Vape Store
A good employee can make your vape shop successful and a bad employee can break it. You should hire knowledgeable people that can talk intelligently to customer about all aspects of electronic cigarettes and the things that go with them. They should know the laws and regulations, such as not selling to minors, because that will get your fined in the best outcome, or shut down in the worse outcome.
Your staff should be able to exchange conversations with newbies just as easy as they do vape aficionados. Ideally, the perfect employee will vape and have their own personal advice and information to offer. Above all, you want your staff to be approachable, friendly, honest, and customer service oriented.
Your Inventory
Your vape shop should have a wide range of products in stock. The more products you offer, the more people you can appeal to. You won’t be able to stock everything vape, but you need to have multiple choices in each category, including the vaporizers themselves. One of your biggest competitors will be the online vape shops. Their pricing will be less than yours, but your advantage is convenience – if you have stock.
Don’t Get Greedy With Your Mark Up
Retailers are said to have an excellent margin in the vaping industry, but you can get too greedy. Don’t stock your store with only the high-end (i.e., high priced) products. You should also have lower price point products as well so that you’re reaching a broader range of vapors.
Social Media Is The Best Way to Promote Your Vape Store
If you haven’t been a social media fan, now is the time to get there. Social media rules these days, especially when it comes to new things like electronic cigarettes. You can interact with your customers, potential customers, even your competition via social media.
This allows you to see what the other guys are doing, or not doing, and you can follow suit or go a totally different direction. Get your social media accounts established as soon as you have your location and name established and start getting your grand opening buzzing!