The vaping or e-cigarette industry continues to boom as more people move away from tobacco products. The market for e-cigarettes, vaping liquids and accessories is expected to grow even bigger as more studies backing the benefits of e-cigarettes over traditional cigarettes are released. In addition, heavier taxes are being imposed on tobacco products to deter their use, making e-cigarettes or vaping a more cost-efficient alternative.
Entrepreneurs looking at franchising opportunities for a vapor shop want to make timely investments. As the following grows, more shops need to open in malls, commercials establishments and other key areas to be more accessible to vapers. Here are a few things to consider if you are planning to open a vaping shop business.
You Must Explain How Vaping Helps Smokers
Learn everything you can about the industry and vaping itself. When you open a store or kiosk, it will be natural for people to ask questions before they buy any of your products. You should be knowledgeable about facts and figures about e-cigarettes and their advantages over traditional tobacco-based products.
For one, they can help lower the incidence of lung cancer because vaping liquids do not contain tobacco, which is a known carcinogen. Vaping makes use of liquids that contain nicotine, which is what smokers crave when they smoke. Vaping also meets a smoker’s “oral fixation” or the need to have something in one’s mouth to feel satisfied.
While vaping is not a 100% healthy habit, it does help smokers quit the habit. This can eventually lead to millions of lives saved due to tobacco-caused cancer.
As a vaping store owner, you must also be able to explain how to use the vaping pen to new customers, too. How to load or refill it with the vaping liquid and how to check and charge the batteries. You must be able to walk them through dozens of vaping liquid variants, which are made of natural oils and essences.
You Must Know How to Run a Business
If you have no prior business experience, running a shop or store may be a bit of a challenge. If this is the case, it might be beneficial for you to opt for a franchise instead of setting up a business under your name.
A vape store franchisor will teach you more than just the basics of everyday operations; it will also provide training in all aspects of running a business. You will learn about inventory, supplies, accessories, repair, customer service and more. This kind of training is important when you have to make crucial business decisions on the fly.
The franchisor will also allow you to consult with other franchisees so that you can compare notes and ask one another for help and support. Moreover, you have access to a wide network of business experts who have had years of experience in various niches and industries.
You Must Have the Capital to Start a Business
Businesses like vape shops still require a significant cash outlay to get started. A franchise might cost more than a store that you set up on your own, but you will be able to recoup your investment in a shorter period.
A franchise means you will be holding a well-known brand with a good following, and this will make it easier for you to get customers anywhere you intent to set up. This also eliminates the need for intensive marketing, which can also be expensive in the long-term.