One of the biggest personal technologically backed advancements in recent years is to tobacco smoking. Cigarettes are losing favor, and the E-cigarettes and vape pens with flavored juices are gaining in popularity to replace the old tobacco products. That means more people than ever before are “vaping” with newly created products and a constantly shifting variety of “juices.” If you want to start a new business, why not open a vape shop? Here are some ways to make sure your business is successful.
Finding capital is not as difficult as it once was for new entrepreneurs. There are online fund-raising sites, venture capital companies, and traditional loan banks. Once you know how much you need, take your business plan with you, and ask for financing options that are available to you. You can begin an inventory list by looking at online sites such as www.smokingthings.com. You may be surprised at how much financing you can get.
Finding the perfect location for your shop may be the most difficult part of opening a brick and mortar business. You will need access to ample parking, a quiet and clean area, and a location that is safe from break-ins or vandals. Spaces should be provided for signage and images announcing your store, and the sign must be visible to people on the street as they drive by.
Before you get too excited about building a vape shop, make sure you understand the rules, regulations, and laws of your city, state, and the government (frequently located under tobacco business laws). The municipal codes change often, so even if you checked regulations a year ago, make sure you locate the updated information for your tax codes, regulations, and zoning laws.
To prevent the loss of customer data, make sure you have the best technology available to protect personal information. From firewalls to backup copies of data, it is essential to keep all payment and personal information about your clients free from prying eyes.
Invest in business insurance before you hire employees, purchase inventory, or open your shop doors. Knowing which manufacturer’s products will be covered by your insurance policy is critical in protecting yourself from senseless lawsuits over exploding batteries or broken pens. Work with your insurance company to carry brands covered under your policy.
Becoming an entrepreneur and opening a vape shop is not much different than opening any other type of business. It will require hard work, dedication, and understanding the regulations established by your state. Once you open the doors, remember to be professional – the public’s perception of your shop revolves around you.