Congratulations – you’ve got the passion, secured the capital, and you’re ready to open the vape shop of your dreams. 

With the rise in awareness regarding the dangers of tobacco and safer alternatives such as vaporizers and e-cigarettes, the time to open a brand new vape shop is now! In fact, according to Grand View Research, the vape industry is expected to expand at an annual growth rate of 28.1 percent from 2021 to 2028.

However, there are several critical components to consider before opening your shop. These simple yet frequently overlooked factors can either make or break your business. Thus, let’s go over the five most critical tips to make your vape shop a money-making empire!

Make Your Shop Appealing

It’s no secret that branding is essential in most business sectors. However, the vape market tends to overlook the importance of branding. 

Although most of your budget should go towards your lease and product, you should also set aside money for branding. Branding can promote recognition, set you apart from the competition, and help strengthen customer relations.

Some examples of vape-related branding include:

  • Logos
  • Exterior and interior color schemes 
  • Stickers and emblems
  • In-house e-juices 
  • Business cards

You should also make your shop visually appealing. Having your products on glass shelves and containers will give your shop a more professional look. Wall graphics or custom-painted art can also make your vape shop more appealing. 

Take a look at the best vape shop in your city versus the worst. More than likely, the ones doing little business are called “vape shop” and don’t make use of branding. Successful vape shops typically incorporate branding, have a unique name, and have a professional-looking store. 

Find a Great Location 

Finding a great location for your vape shop is critical to its success. 

Fortunately, vape shops don’t require a great deal of space. A size in the range of 800 – 1,500 square feet is more than enough space for a standard vape shop. 

Most vape shops are located in storefronts or shopping plazas. However, indoor malls and stand-alone stores can also make great options. 

You want to choose a location in an area with a lot of traffic. This is why shopping plazas make great locations for vape shops – as they experience a high volume of traffic due to the collection of various stores. 

According to research published by AARC, most vape shops are located in low-resource communities that are predominantly made up of minorities. This may be a factor worth considering when deciding the location of your vape shop. 

Find Reliable Suppliers

Equally important to branding is finding reliable suppliers. Any competent business relies on its products to thrive. 

Unfortunately, there’s a lot of suppliers that sell fake e-juices that mimic legitimate brands. These products can immediately ruin your business’s reputation.

You can find suppliers through a quick Google search of “vape wholesale” or “e-juice wholesale.” In addition, you can search vape forums and Facebook groups. Just make sure to do your due diligence and ensure the wholesalers you choose to work with are legitimate. 

Open Your New Vape Shop Today

With the incredible growth outlook in the vape and e-cigarette industry, the best time to open a new vape shop is now!

Just remember to find a great location, implement solid branding, and find reliable product suppliers. We hope, with the help of these tips, you’ll be able to build the vape shop of your dreams!

If you’re looking to learn more about the vape industry, be sure to check out our other vape-related articles!