So You Want to Open a Vape Lounge?
Entrepreneurs are cashing in big time,Ā both on the web and in your hometown. Brick and mortar e-cig stores and vape lounges are opening up all over the place.
When the dust settles at the local vaping scene, who will be left standing? If you are thinking about opening a vape lounge, here is a reality check:
Why open a vape lounge?
If youāre considering opening a vape lounge, ask yourself why. If youāre just hoping to cash in on a growing industry, you are dooming yourself to fail from the start. Do you really know what youāre getting yourself into?
- Are YOU a vaper?
- Do you want to help others convert to a healthier lifestyle?
- Do you understand the products? Orā¦
- Are you willing to hire staff who does?
These are questions that could be asked of any start-up, but they are especially important to vapers. Why?
Consider your target customer
The vaping industry targets smokers. You are offering a possible solution toĀ an unhealthy daily habit that has existedĀ for 10, 20, 30, or more years. If a smoker walks into your store, odds are they have already tried other options and failed.
They are lookingĀ for help
This requires a certain amount of sensitivity and a true desire to help people. You have to be able to find a good fit for each individual through the products you offer.
The #1 complaint about brick and mortar vape shops is that the staff isnāt knowledgeable.
Most vapers I know are very passionate people, and they are enthusiastic about what theyāre doing. Ā Newbies donāt remain newbies for very long. VapersĀ self-educate, and quicklyĀ catch up on the technology and products.Ā When that happens, they will ask themselves:Ā Did XYZ Vape Shop really help me? Did they recommend the best products to meet my needs?
Far too often, the answer to that question is no. If you want to operate a successful vape lounge, make sure that your staff knows what theyāre talking about.
Skip the house brand e-liquid
There is a huge profit margin on e-liquid, and most brick and mortar stores have their own house brand for this very reason. The only problem is, most house brands suck.
Yes, you will sell e-liquid by the gallon to newbies who donāt know any better. But again, self-discovery moves very quickly in the vaping industry. If you put a lot of stock in your e-liquid sales, just know that you probably wonāt generate a dedicated customer base.
The e-liquid market isĀ massive. Itās not even competitive, because there are soĀ many options available. The DIY market also continues to grow at an alarming rate.
Instead of going through the hassle of investing in all of the equipment and hiring a mixologist, consider stocking popular e-liquid brands and/or brokering a deal with a local juice maker.
Atmosphere
Simply opening your doors isnāt enough. If you want to open a successful vape lounge in todayās market, you needĀ a space that your customers want to come back to. Four walls and some white paint isnāt going to cut it.
Vaping isnāt a product, itās a lifestyle
You need to embrace that lifestyle. Vaping isĀ outlawedĀ in most public spaces, even pubs. If you create a space thatĀ vapers enjoy, they become loyal customers. More importantly, they will tell their friends.
There is a local vape shop that is less than oneĀ mile from my house, and another right down the road. I will bypass both of them, drive 30 minutes and fight traffic to get to my favorite placeĀ where the prices are higher. Why? Because itās a cool place on the inside. It has personality.
The Catch-22 here is, donāt make itĀ tooĀ comfy. Your focus should be getting new people in the door, not catering to cloud blowers. You donāt want your store to become a haven where vapers just hang out all day.
Think outside the box
If you really want to go above and beyond and set your self apart from the competition with your new business, consider the following:
- Offer classes (building coils, battery info, etc)
- Sell inexpensive tools for the rebuilders and tinkerers
- Other products like coffee, wine, or even food
- Get involved in vaping advocacy
Becoming a vaperpreneur isnāt difficult. There is huge demand, a guaranteed client base (40+ million smokers in the US), and currently no federal and few state regulations governing the industry. If youāve got the capital, a vape business is about as close to a sure thing as youāre going to find.
Make no mistake, this isnāt an āif you build it, they will comeā opportunity, either. Thatās the problem a lot of vapers are seeing with their local B&M stores. The shingle has been hung, but thereās no life inside.
With new stores opening almost daily, thereās no reason why a customer shouldnāt just go down the street to your competitor.
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