Setting up a business has never been an easy deal. It requires a lot of hard work, dedication, and patience. If you are thinking of opening a vape store then you will have to think about many things systematically. Though there are many profitable small business ideas to choose from. You will be selling vapor supply wholesale and to start a vaping business here are 5 important things that you will need to be triumphant in this area.
Preparing a business plan:
E-cigarettes and vaping is an enthusiast-driven field and the community of vaping is big. It covers important details related to pending FDA legislation, the launch of new liquids, and much more. Most people who get into this business are enthusiasts and just to fulfill their love for e-cigs they open a vape shop. It is their favorite time pass. Many think that when they are actually vaping the liquid themselves then why not be interested in starting a vape business and earning millions. They can turn their time to pass into an earning wheel.
The drawback is this passion doesn’t lead them anywhere. A business requires you to think rationally and learn about the calculated risks to execute the plan smoothly. Many fail to do so and most of the vape shops die an untimely death.
It is very important to write a proper business plan whether it is for the vaping industry or of any other industry you are thinking to do business in. You do not need an MBA degree for it. Go on Google, search for some business plan templates, and fulfill the license or legal requirements.
Remember, there are laws around the sale of vapor juice in Australia and tobacco so you cannot be ignorant. Each state has its own regulations and you must check with the authorities to know these laws. You should also abide by the laws to avoid legal trouble. Think about the financing part as well because without money you cannot start the business.
High trafficked area:
It is vital to do business in an area where plenty of people come in. An inviting storefront and more foot traffic are what you should seek to open the store. In 2015, the vaping industry has grown from an 8 billion dollar industry and the future stats shows that it will rise to 47 billion dollars in 2025. So, taking a good location is the key because vaping is a hot trend but to expand your business you need a location that is inviting.
This is important because the competition in the field is growing as well. You are not just the only one selling vape wholesale and there are convenience stores around with whom you need to compete. Therefore, a good optimal location to run your business needs attention.
Supreme product quality and a dependable supplier:
You have been vaping so you know what products are a great buy and there can be some favorite brands that are loved by you and others. Do your homework and get in touch with a well-known wholesaler who can offer products you trust and you do not want your supplier to run out of products. Research online and communicate with the vapor shop owners as well.
You know a little bit what others like and what you are using is of what quality, but ask some vapers around and do some research to find what vapers actually need. What is it that vape shops miss and what interesting products can thrill them if they see it at your shop? Try to be different. Someone who puts customers first is always appealing.
As a beginner, you must sell a few rechargeable e-cigarettes or an e-cigarette kit. Vapers who are experienced need a vaping kit that can help them in customization. Make sure to stock various types of juices. Contact the vape wholesale distributor Australia shop that can help you get many kinds from various brands so you have everything in your shop.
Acquire good knowledge and share your suggestions:
You should know your customers and recognize the ones who are new to vaping. Some can be experts in vaping. As per your understanding, you have to give them suggestions and share your knowledge about the products and vaping techniques at times so the individual needs of the customers are met precisely.
You should have knowledge about the products and help people choose the starter vaping kits, vape pen, and other things. Talk about the nuances with them of various flavours and ask their preference as well. Offer them some good combinations of vape juices and flavored e liquids which they may like.
Give high-quality customer service and make efforts to improve it:
As far as customer service is concerned there are a few things for which you should develop policies and it will help your business. For example, there should be a proper way to greet and interact with the shoppers in the store. Secondly, if there are no products that customers want then what you should do about it and how will you handle such queries. How can you deal with irate shoppers and handle their disputes? What will be the returns and exchange policy and what type of programs you can keep to develop customer loyalty and customer satisfaction?
So, these are a few things that you must address and keep these policies in writing. Knowing what you expect out of your employees will help you run your business smoothly. Mostly, in customer service, things are based on common sense so you can train your employees for a day or two on the same so in case they have to do objection handling they can do it tactfully without losing the customer and sale. Have a session every third day to discuss in teams the policies that are being practiced, mistakes that should be avoided, and people skills which have to be developed. Rate your employees and applaud them for good work so your customer service standards are at the supreme level each time.
Conclusion:
So, if you are planning to start a vape shop and thinking about what you need to do then the above-mentioned suggestions can help you to a certain extent. There are many more points which you need to think about, but these are a few, to begin with.