The vaping industry is so hot right now that in the United States alone, the vaping industry is over $6 billion and it is projected to grow by 27% by 2028. So, if you are looking to get in on the action, now is the time to do so. From getting the right licenses and permits to finding the right vape wholesale supplier, here are 7 things to consider before you think about getting your slice of the action;
7 Things to Consider Before Opening a Vape Shop
Have a Plan
Before you rush out to take your slice of the vaping cake, you want to have a plan. It is important to take the time to sit down and draw up a business plan. It doesn’t have to be “investor standard”. Just something simple for you – a plan that shows our business goals and how you plan to achieve them. this plan will help you stay on track. Will also include your market size and competitor analysis. And as I said earlier, it doesn’t have to be an MBA standard plan – just a guide to help stay on course.
Licensing and Permits
A major area where a vape shop differs from a traditional retail business is that while most businesses may not require licenses and permits, you require one to set up a vape shop. Some laws guide the sale of e-cigarettes and vape devices. In fact, most vape wholesale suppliers will not do business with you if you don’t have the required license. Now, licenses differ based on states and localities, so it is important to check with your local authority to know the laws you need to comply with and the licenses your need to get. This will save you a lot of legal trouble in the future.
Get the Location Right
Like most retail businesses, get your location right. Whether online or offline, you need a place that makes you visible to customers. From gas stations to convenience stores to going online. If you decide to have only an online store, then you should budget money for digital marketing and search engine optimization
Get Your Finances Right
You want to keep an eye on your money. You need money to run your business, so you want to assess all the costs that your vape business will require. Some things you should account for are rent, fees, insurance, permits and licensing, payroll and taxes, inventory, equipment, and marketing. P.S the US frowns on advertising to teenagers and has raised the age from 18 to 21. So be mindful of that in your marketing.
Find a Reliable Vape Wholesale Supplier
Finding the right vape wholesale supplier will do wonders for your business. The last thing you need is a vape wholesale supplier that is unreliable. The difference between failure and success when running your online vape store is finding the right vape wholesale supplier. Irrespective of whether you want to dropship or you want to buy vape wholesale, the right supplier is the key to your business success.
Here are 7 things to look out for when choosing the right wholesale vape supplier;
- Product Range
- Product Authenticity
- Shipping and Delivery
- Product Warranty and Return
- Regulation Compliance
You should get a vape supplier in the US rather than a China-based vape wholesale supplier. A US-based supplier offers you fast shipping and customer support. Since they operate in the same time zone and have no language barrier meaning you have a business partner to help you run your online store smoothly. Faster shipping means your customers can get their vape devices on time. Also, e-cigarettes in the US have a higher manufacturing requirement which is why they are trusted. This means customers get quality vapes and premium e-liquids
Choose a Vape-friendly POS System
After finding the right vape wholesale supplier and getting the necessary permits, the next most important decision you are going to make is purchasing a vape POS system. A vape POS system provides a great customer experience and ensures you don’t have abandoned carts. You deliver a great experience at the checkout point with the right vape POS system.
Have a Social Media Strategy
9 in 10 people use social media to search for a product before making a purchase. So, the goal here is to create a smoking-hot social media presence. The right social media presence combined with the right SEO strategies will drive customers to your vape store, both online and offline. One of the reasons it is important to create the right social media presence and get your SEO strategy right is that Google and other Search Engines don’t allow vape stores to create ads. So you are going to be growing your customers organically.
You have seen the 7 things you need to get started with before you open your vaping store. Of everything that has been highlighted, getting the right vape wholesale supplier, finding the right POS system, and getting the necessary licenses and permits will make the difference between success and failure for your business.
Not Sure Where to Begin?
Vaperboss is the solution to the Chinese and US-based supplier conundrum. Vaperboss offers a wide range of vaping devices. If you can’t find the product you are looking for on Vaperboss, then rest assured that you can’t find it anywhere else.
Vaperboss is the number one name in the mouth of most vape store owners because they tick the 7 boxes listed above. Not only does Vaperboss stock the latest vape devices and provide different options for you, but more than anything, they offer the best prices so you can have a profitable business.
In addition, Vaperboss provides relevant information that you need as a store owner, whether the best-selling vape devices to stock or the ejuice that is fast-selling. This is because Vaperboss cares about your business and wants you to succeed.
Finally, Vaperboss has an extensive delivery system that guarantees super-fast deliveries and customer support. With Vaperboss, you have a partner to grow your business. Visit Vaperboss today to get started.