In this article we want to share with you the steps on how to open a vape shop. Did you know that the vape industry registers an annual income of $18 billion? Because vaping popularity is rising year in and year out, this business could be your gold mine.
In case you are thinking of launching an online vape shop, but are not sure where to begin, then keep it here. Here is how to put your
thoughts into practice.
First things first – Pick a Method
Now, you can start this kind of business in two ways, either as a “drop ship store,” where a different person will take care of the shipping of the goods to the customer or you can purchase, store and supply your own vape products to your customers. Upon choosing a method, you are now set for the first step.
Step 1 – Develop a Business Plan
If you’re blank about how to open a vape shop online or maybe it is the first time you are diving into this kind of business, you can visit BPlans.com where you can get downloadable business plans. Business plans from this site provide an outline of how the business should operate and your expectations.
Step 2 – Get Your Supplier
In case you intend to start immediately and you lack sufficient cash to purchase your inventory, you can go straight to Google and feed the words, “dropship vape products”. You will get access to a wide range of vape supplies to start selling in your online shop immediately, without the need to purchase any of the products.
If you’re lucky to have some cash and you want to take charge of your inventory as well as store the supplies in your warehouse for shipping, you can search “wholesale vape products or wholesale vape supplies" on Google. Here, you can see a change in the listings… it is possible to find a company where you can do a bulk purchase of vape products… at great deals.
Step 3 – Business Registration
So, it is time to make your business official. You cannot receive payments for your supplies without completing this step. You are supposed to register and get a federal EIN Number, which will enable you to form a corporation or LLC.
Step 4 – Get a Bank Account for Your Business
Once you have a business name have the business registered, you sign up for a bank account for the business. Opening the account is hassle-free; however, you must have the legal incorporation documents alongside the EIN number mentioned above. You can do this in your local bank where you already have an account or opt for a different bank.
Step 5 –Brand Your Business
Branding forms one of the critical steps in establishing an auto parts store since it identifies your brand that will have a significant impression on your newly found customers. You can use 99designs since it makes the process easier and quicker and you achieve your desired results.
When it comes to marketing, you can get materials from Envato. There, you will find thousands and thousands of graphics that match each and every on-demand business. For a vape shop, you simply need to start with a logo, set up a website as well as email marketing flyers, alongside some graphics for social media. At 99deisgns, you will find any 'brand identity pack to kick start your business straight away.
Step 6 – Secure a Website Name
Now, your next step is to purchase web hosting. Bluehost can help you achieve this since it's one of the most reliable sites for e-commerce websites. You start this process by confirming whether the website name of your choice is available… free and if you opt for their packages, you get great discounts. You get a free domain, SSL, ad credits as well as round-the-clock access to tech support. Once you purchase a plan from Bluehost, you get login details. Ensure you save the information and make it available for your web designer in the following step.
Step 7 – Get a Web Designer
In case you are unfamiliar with Fivver, it's a platform where you can buy affordable and quick marketing and web design services. You only need to type in the search bar what you want, and several service providers willing to develop your website in less than 3 days will appear for you to choose from. When you choose a freelancer to perform the task, share with them the website's vision and plan.
Step 8 – Create a Merchant Account
As work on your web development goes on, you can activate a customer's merchant account where they can make their payments. You're now set to receive your payments! The majority of businesses use stripe, square, or PayPal. The most recommended of all is Square because it is easier to receive online payments through your website, over the phone, or via email. You can sign up for a Square account free of charge. After signing up, share the details with your web developer to finalize the integration process.
How to Earn From Your Vape Shop Online
Now, since everything is ready to go, how will you earn money from your vape shop online? This is what you must have in mind to have you smiling at the bank.
Now, you have the liberty to choose the range of vape products to sell in your shop. Currently, the on-demand products include e-cigarettes, batteries and chargers, tanks, bottling supplies, mods, vape kits, coils, and disposable vapes.
Remember you can also opt to sell branded vape accessories and lifestyle clothes. These products also attract huge profits and can earn you BIG cash.
Any vaper will be interested in these items… So make them available for them.
So, I’m sure you must be asking yourself… how much can I make from this trade? If you intend to launch your vape business online with a drop ship supplier, you need an average of between $500 and $1500. However, if you're self-funding your inventory, you need a spacious warehouse to store the inventory along with several employees. Therefore be ready to part with extra bucks.
The majority of individuals have dreams of operating their own vape businesses and being their own bosses, but they don’t have a single clue about how to open a vape shop. We hope this article empowers you to achieve your desires.