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How to Start Your Own Vape Business

E-cigarettes have been consistently growing in popularity over the last five years, they are a healthy and effective method of quitting smoking that has blossomed into something of a movement. Furthermore, it is a market that doesn’t look like it’s going to start stagnating any time soon.

Don’t think that you’re the only one who’s had the idea of starting your own vapour cigarette business though, as there has been a 45% rise in e-cigarette stores over the last six years. There are ways and means of standing out in a crowded market and, with the increasingly popularity of vaping, you can stand out from the rest if you’re prepared to put the extra work in.

Taking knowledgeable advice from Liverpool based Vapourmate vapour shop, we run down some of the best tactics for starting up your own e-cigarette business and proving yourself a cut above the rest!

Location, Location, Location
It’s important to pay attention to the pros and cons of exactly where you are going to base your store. Get a space on the high street and you’ll get a wealth of visitors, but you will be paying the highest rent, whereas if you situate yourself outside of the city centre your rent will inevitably go down, but then so will your foot traffic. Finding the balance is key here, while also paying close attention to where the competition is based, you don’t want to be on the doorstep of the best performing e-cig store in town.

Pay Attention to your Product
Making sure you have a diverse range of products and an expert knowledge of all of them. Knowing which e-liquids, coils, tanks, mods and everything else you could possibly need is essentially to making sure your customer base is satisfied by your store. Costing your products is also important, keeping your prices competitive while still operating to preserve a profit of at least 50% is the best way to go.

Insure Yourself Properly
It’s critical to have insurance for your business, not only that, the right insurance. Make sure that your insurance provider understands the e-cigarette market so you are correctly covered should you ever be unlucky enough to have to make a claim. The amount of security you invest in will certainly help lower the cost of your insurance, and of course, is just good sense.

Don’t Ignore the News
As they are fairly new, regulation for e-cigarettes is a constantly changing landscape. Be sure to stay alert to any changes is the law that could have any effect on your business, so you are able to plan accordingly ahead of time.

Wow Your Customers
Your customers are your lifeblood, make sure you’re looking to go above and beyond for them every time and you will find yourself with repeat business. Grow yourself a loyal customer base by giving them a great customer experience whenever they walk through your door – having an extensive knowledge of each product you sell goes a long way to convince people that you’re the perfect go-to vape store for them.

Set Money Aside for Marketing
Marketing is key to people finding your business, never presume that just because you’re setting up a small business that you wouldn’t need to engage with it. The problem is with e-cigarettes is that, although they are popular, there are stringent advertising laws surrounding them – so social media is the most powerful tool in your marketing arsenal for getting the word out about your business. Remember, don’t always try to sell people your product, sometimes providing customers with valuable information about your product is just as important in getting them to trust you.

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