How to open your own vape shop – Our top tips for success.
With the vaping industry booming, now is the perfect time to open your own vape store. Here’s everything you need to know about opening a vape shop.
With an estimated 2.7 million adult vapers in England, the vaping industry is growing faster than ever.
The last couple of years have been extremely difficult, as the pandemic forced many shops to close their doors. But with rents lower than ever before as the high street starts to recover, now is the perfect time to open your own vape shop.
It’s certainly a tempting prospect, but starting your own business can be daunting, especially if you’re new to the retail or vaping industry.
How do you pick premises? What insurance do you need? How will you market your vape store? How much will you spend on vape hardware and your e-liquid range?
There’s a lot to think about when starting a vape shop.
To help you get started, we’ve put together this guide based on our own extensive experience. Since 2014, we’ve opened a chain of 11 extremely successful stores across the Midlands, so we know a thing or two about starting your own vaping business.
We’ll also talk about the benefits of becoming an 888 Vapour franchisee! Opening a new vape store with the backing of an already successful franchise simplifies the process and provides you with a reliable supply and support network.
So, let’s dive in.
Learn the relevant vaping regulations
Whilst you don’t need a license to open and run your vape store, there are certain regulations and processes that you need to follow.
Wherever you’re operating from needs to have A1 retail usage to comply with planning regulations in your area. If you’ve already signed on the dotted line, you might be able to change its intended use with planning permission from your local authority.
It’s illegal to sell vaping products to anyone under the age of 18, and there are harsh penalties for those who break these laws. Both you as an individual and the business could face fines, and you could even receive a criminal record!
It’s impossible to completely limit the risk thanks to convincing fake ID’s and over 18s passing vape products onto children, but being able to prove you’ve performed due diligence is your best defence if it does happen.
Having the Challenge 25 policy in place helps build a margin of safety, as it means anyone who looks under the age of 25 should be asked for a photo ID.
The policy has been around for a long time now and is commonly used for alcohol and tobacco sales, making it familiar and easy to implement.
Make sure you can afford it
So, how much does it cost to open a vape shop? Well, that depends.
There are several costs to consider when setting up a vape shop. Rent, shop fitting, salaries, bills, taxes and stock will all need to be budgeted for.
It’s important to sit down and build an in-depth, well-researched business plan, especially if you’re looking to borrow money for investment.
If you don’t show some know-how and effective planning, no one will be willing to lend you any cash.
There are lots of organisations out there, like the Prince’s Trust, who can provide valuable financial help and advice when creating your business plan.
As an 888 Vapour franchisee, we can offer you various scalable packages to suit your needs.
Whether you’re putting all the capital in to secure a business in a box solution, or you’re looking for us to invest alongside you – we can provide whatever works for you.
Whatever you go for, you’ll get our EPOS till systems, IT support, full staff and management training, marketing, sales, business and HR support.
Location, location, location
Picking the right premises is key to the success of your business. A prime spot right in the city centre might seem ideal, but if you can’t afford the rent then you won’t last five minutes.
Finding the right balance between rent and footfall is really important, as you want to keep rent as low as possible whilst still being accessible to your customers.
You don’t need to worry about being right on the high street either. As long as you’re operating a reliable and friendly vape shop, customers will actively seek you out.
If you choose to open a franchise with us, we’ll be on hand every step of the way to help you choose the right location, and support you with market research and any financial negotiations.
Once you’ve picked out your location, it’s time to think about shopfitting!
If you want to attract new customers into the store, displaying your stock attractively and professionally is vital. But remember, you also need to factor in the cost of installing reliable technology – you can’t sell anything without good tills!
Shopfitting can be an expensive and time-consuming process, especially if you’ve never done it before.
Another benefit of being an 888 Vapour franchisee is that we have a fantastic team of shopfitting experts who’ll get the job done quickly and to a high specification.
We’ll work with them to design the layout of your store to match our brand guidelines and provide all the necessary signage. We’ll also provide you with your EPOS (electronic point of sale) and payment systems, so you’ll be ready to open in no time.
Choose a reliable supplier and order the best vaping products
Now that the shop fitting’s complete, it’s time to fill it with stock!
Finding a good supplier is really important – there’s nothing worse than being unable to regularly stock up on your customers’ favourite starter kits, tanks, mods and vape juices.
All 888 Vapour stores are supported by our sister company, Juice Sauz. As an ever-growing distribution service and e-liquid manufacturer, Juice Sauz supplies not just our own stores, but hundreds of other independent vape shops and large online companies too.
Whether you’re an 888 Vapour franchisee or an independent store, choosing Juice Sauz as your supplier will guarantee you a reliable, personalised vaping wholesale service from a team that’s passionate about helping you succeed.
Juice Sauz also offers White Labelling and OEM services, so if you want to go the extra mile and launch your own e-liquid brand, they can help with that too!
To find out more, check out our guide to building your own e-liquid brand, or give Juice Sauz a call to discuss how they can supply and support your new business.
Promote your vape store with a strong social media presence
Building a strong, loyal following on social media is vital for any retail business.
As well as keeping your existing customers up-to-date with store news, it helps boost word-of-mouth to attract new visitors to your store.
Building a community of vapers online also opens up the possibility of starting an online shop, allowing you to ship out your vape kits and e-liquid to grow a wider customer base.
When you open a franchise with 888 Vapour, our support doesn’t end on launch day. We offer marketing support and promotion via our website and social media pages, as well as posters and banners for your store.
So, what do you think? Are you ready to take the leap and open up your own vape shop?
The industry isn’t slowing down any time soon, so why not get in touch to have a chat about franchise opportunities?
We’re always happy to answer any questions you might have and are more than ready to help you become your own boss in your new 888 Vapour store!