Running a vape shop can be a great way to earn a living. There’s typically a big difference between the wholesale prices for vapes and vape juices and the retail prices that you can ultimately charge for those items, so there’s potentially plenty of money to be made. The best part is that with every sale you make, you’re doing your part to get stinky tobacco out of your community.
Before you can even get to the point of opening your vape shop, though, you need to know where it’s going to be – and that means you need to choose the right location. That’s not as easy as it might sound, and you shouldn’t just rent the first storefront that’s available. In this guide, we’ll provide some advice that you need to know before you get started.
Scout the Area for Other Vape Shops
It’s obviously ideal to start a vape shop close to where you live if you can, and your first thought will probably be to launch your store in your own hometown if it’s possible. Before you jump in and lease the first nice location you find, though, you need to consider the competitive situation in your city.
If there are no other vape shops within a few miles, you’re golden and can probably expect to enjoy a great deal of success. If there’s already another vape shop in your city, though, you need to consider whether you live in an area with a population large enough to support more than one vape shop.
As much as you might like your vape shop to be close to home, it might be necessary to choose a location that’s a bit of a drive away if there’s already too much competition in your city.
Learn Your City’s Zoning Laws
You’ll also need to become familiar with your city’s zoning laws for vape shops. This is a situation where it’s very helpful to have an attorney on retainer because you definitely don’t want to sign a lease on a storefront only to find that you can’t actually open a vape shop there.
Many cities have implemented restrictions on where vape shops and tobacconists are and aren’t allowed to operate. It’s common, for instance, for cities to disallow vape shops in close proximity to places like schools and daycare centers. Some cities may also have restrictions on vape shops near hospitals and city-owned buildings. Knowing what restrictions your city has for vape shops – if there are any – can help you avoid a nasty surprise.
Find a Storefront That’s in Your Budget
Once you’ve determined the right city and the right general area for your vape shop, it’s time to start scouting different locations and determining how much you can expect to pay per month. If you don’t already have a concrete business plan, now is the time to draw one up. You need to know how much you can afford to spend on your lease and expected utility costs while still remaining profitable.
Ideally, you want to open your vape shop in a storefront that gets plenty of foot traffic because high visibility is basically free advertising. If the rent doesn’t leave enough room for you to earn a living, though, it’s not worth the expense.
Good marketing can help you overcome a less-than-ideal location, and the good news is that vape shop customers are often extremely loyal. If you provide a good shopping experience and a good selection of products at fair prices, people will keep coming back once they’ve discovered your store.
Evaluate the Parking Situation
You should also think about how easy it will be for people to get to your vape shop before you settle on a location. A storefront with a challenging or expensive parking situation usually isn’t ideal for a vape shop because many people will be reluctant to jockey for a parking spot or pay a parking fee to buy a $15.00 vape. If you can manage to find a spot in a strip mall that has its own parking lot, that’s usually ideal for a vape shop because people will be able to get in and get out without a hassle.
Consider Synergy with Other Nearby Businesses
If you find a possible location for your vape shop that seems to be a good fit, it’s worthwhile to consider the other businesses in the immediate area and think about whether putting your vape shop next to those businesses would be a good thing or a bad thing. If you position your vape shop near a dispensary, there might be an opportunity for a synergistic relationship because people who buy from one type of store will often buy from the other. It can also be advantageous to position a vape shop near a business where people might like to hang out and linger. If you’re next door to a café or coffee shop, for instance, you might have a good chance to receive plenty of foot traffic.
Make Sure You’ll Have Enough Room
Before you begin a lease on a storefront for your vape shop, it’s crucial to make sure that you’re going to have all of the space you need. Between all of the devices, accessories and bottled e-liquids, a vape shop needs plenty of room.
The space issue, however, is further compounded by the fact that many states and cities require vape shops to display their products in locked cabinets to ensure that customers’ IDs will be checked before they’re allowed to touch the items. If your products need to be kept under lock and key, that’ll add to the amount of space needed.
If you can manage to find a storefront that already has cabinets in place, that’s a huge bonus. If not, you’ll need to visualize what the space will look like once you’ve put them in. A vape shop needs to have a large selection of products, or it won’t receive a lot of business. At the same time, though, you don’t want the space to feel cramped and unpleasant.
Photo by Joaquin Carfagna: