Ever wonder how you can put up your tobacco or vape shop?
Or perhaps you’re thinking of a shop that offers both tobacco and vape products. Whatever smoke products you want to specialize in, your business will require proper planning and preparation like any other business, but with particular things to consider.
Keep reading below to learn the five things to consider when successfully starting your tobacco and vape business.
Secure Your Finances and Business Planning
Before starting your business, you need to have a concrete business plan and a budget to open up your shop and begin thriving.
When starting a business, especially a vape and tobacco one, you should not base it on passion alone but a solid foundation. Once you have a business plan, you can now use your existing funds, get a business loan, or contact some investors. You also need to secure a budget for your employees, inventory, and a vape shop point-of-sale (POS) system.
Ensure You Follow Laws and Licensing
Unlike other businesses, tobacco and vape products are grounded in definite laws and regulations concerning selling them.
Most of the laws that regulate tobacco also apply to vape products. However, they may vary depending on what state you are located in. You will need to get a license for your vape or tobacco business as required by the state and federal laws.
Before you put up your shop, make sure you look at the rules and regulations of the state, local, and federal levels to abide by the law.
Acquire Proper Inventory and Suppliers
Before you even put up your business, you are likely already an enthusiast of vaping or tobacco. It’s also possible you already have a list of suppliers in mind from where you’ll get your orders to avoid running out of stock.
In creating your inventory, make sure you consider the needs and wants of your potential customers or the tobacco or vape users in general. The first step is stocking quality staples, then branching out from the base inventory.
Find the Right Zoning and Location
You don’t just put up a tobacco or vape shop because the rent space is cheap. You need to secure the legality of your shop and the convenience it can give to your potential customers.
Most towns have zoning policies to follow, such as tobacco or vape shops with a required distance from specific places or properties. Once you have already secured where you can legally open, you need to think about where exactly your potential customers will find you. Consider places with a high car or foot traffic, so people can easily see your shop.
Get the Right Equipment and Staffing
Now that you have secured the important segments of your business, you can move on to buying the necessary equipment and hiring employees to run your shop.
But finding the best employees would be beyond just giving someone in need of a job. You may want to hire people with the same passion as your customers and you. Aside from that, securing the right sales equipment such as a tobacco store POS system can:
- Track your sales statistics
- Manage your transactions
- Scan existing items and even add more
- Record vendor and customer relationships
- Weigh and price tobacco leaves
Starting your very own tobacco or vape business requires careful preparations, a proper budget, legality, licensing, suppliers, inventory, staff, and equipment. It also needs your passion and enthusiasm for planning everything to make running your business more successful in the long run.
ASAD Wholesale is a wholesale distributor of tobacco, groceries, candy, and food service products. We offer wholesale cigarettes and vape products, perfect for your business needs. Browse our products today to discover what’s in store for you!