Should you start a Vaping Shop?
With the proliferation of vaping products all over the UK, you may be wondering if now is a good time to pounce on the opportunity to setup a vape shop. Wherever the market is, is where you seemingly should go. But what if you’re not exactly sure if it’s the right move? Considering that, we’ll be providing you with a range of tips so that you can make the wisest choice.
It could be exceptional customer service, lower prices, or else. Either way, you don’t have to know the stats to know that e-cigarettes are continually soaring in popularity, year after year. According to info from the Office of National Statistics, an estimated 2.2 million Brits were regularly using e-cigarettes in 2015.
Based on statistics from the Local Data Company stats board, in just six years, the number of high street e-cigarette shops have quadrupled in number. With that, perhaps it feels like it’s a little too late to get in on the act. However, it’s never too late to make a dent in the market if you have a brilliant plan.
The first thing you’ll need to ensure is to know your product. There’s no use entering the vaping industry unless you’re as passionate about it as your customers, if not more so. If you’re not fascinated by vaping it, then that’s only going to inevitably show in the level of customer service you provide.
Today, with the world of Social media, nothing is more important than giving your customers the right impression and soliciting positive reviews.
You can only be in a position to do that to your full advantage if you know the market and product well. Because this is such a new market space, your customers will rely on you and your team to help them pick out the most suitable product. Word of mouth recommendations will naturally spread like wildfire if you’re able to make an impression, and give value to people visit your shops.
Depending on the size and location of your potential vaping store, you’ll need a sizable amount of money to set up shop. You’ll need to consider which locations will be ideal for your business, but more importantly, you’ll need to think about how you can increase the visibility of your business through online marketing channels.
Branding will be critical for your brand because it’s what will allow you to create an emotional connection with you and your audience. It’s what will allow you to drive traffic to your store’s location. And even if you don’t have an online store, it will be wise for you to setup a website in this day and age. So, it’s not just the costs for the store that you have to factor – you also have to consider the costs of building your website, and marketing your store effectively.
Based on all that, setting up a successful vaping shop is not something you can do light-heartedly. It requires knowledge, drive, and passion.
If you can consider all these factors for your business, and feel like you can pull them off, then, by all means, maybe starting a vaping shop is for you.
If you do decide to start up your shop, you’ll want to ensure that you have a generous amount of stock. One of the worse things you can do for your business early on is to turn away customers because you haven’t prepared enough.
To ensure that you protect yourself, you’ll also want to choose the right insurance company for your business. Ideally, investing in insurance with a company who has a proven track record of supplying services for different vaping business, should be your priority.
We hope that these tips make you informed about the prospect of setting up shop as a vaping business. Other things you’ll want to consider for your business include providing exceptional warranty service and free shipping (if you set up an online shop). We recommend you first start as a regular store to get your bearings before you jump over to online sales, as it can give you the right information.