In2021, the global e-cigarette market was
valuedat $18.13 billion
and is expected to continue growing at a 30% annual rate. Why thesteep growth rate?
Researchshows that e-cigarettes are safer than conventional cigarettes, andthe younger generation is paying attention to this. That said, vapeproducts are most popular among the younger demographic.
Demandhas increased even more as a result of a broad spectrum ofcustomization features like nicotine concentrations and temperaturecontrol. Moreover, technologies like squonk mods and pod systems aremaking vape products even more appealing.
Andbecause this demographic is synonymous with its online presence,there’s no better time to start an online vape store than now.
Doyou have a physical vape store and want to take it online? Are youlooking to start an online vape store without a physical location?Find out how.
1. Research the Vape Space
Thefirst step when starting a vape store is research. Researching thevape space means knowing:
Whatproducts you should sell
Howmuch inventory you need
Whatcustomers want the experience of shopping at your store to be like
Wherecustomers can purchase them
Whosells them
Whatprice point shoppers expect to pay for these items.
Italso includes knowing how much profit margin there is in each productcategory (i.e., hardware, e-liquids, accessories) to know how muchmoney you need to make from each sale to break even or make a profiton each sale.
Youalso have to find out where people go when they want information onvaping. Look at forums, Facebook groups, and other communities wherepeople discuss vaping. See what kinds of questions they have and whattypes of answers they get from other vapers; this will help youcreate valuable content for new vapers who have questions about howthings work or what kind of device is best for them.
2.Register your Business
Itentails creating a business name, filing for a DBA (Doing BusinessAs), and obtaining a business license. You can use the same name asyour brand, but make sure you have permission from the brand owner ifit’s not you.
TheDBA does not require any official documents; it just means that yourcompany is registered in whatever state you choose to operate. Youcan do this through the secretary of state’s office or
onlinesites.
Anybusiness needs to register with the government to pay taxes andobtain an Employer Identification Number (EIN). The EIN is a 9-digitnumber that all businesses need to open a bank account and receivecustomer payments. If you're starting an eCommerce store, you'll alsoneed an EIN to accept credit card payments.
3.Develop a Brand Identity for your Online Vape Store and Product Line
Brandidentity is the cornerstone of your business and will be the basisfor all of your marketing efforts. Therefore, it must take time todevelop a strong identity because it will help you stand out fromother online vape stores.
Nowthat you have your name picked out, it's time to brainstorm someideas for logos and images that represent your brand. You can startby looking at other vape companies' websites or social media pagesand seeing what elements they use in their branding. It will give yousome inspiration.
4.Choose Products for your Online Vape Store
Ina vape store business plan,
you can choose any type of product, but if you want to sell manyunits, it's best to choose something that people use regularly andwill buy again and again. For example, if someone buys a box mod for$150 and then finds out they don't like vaping, they won't return foranother $150 mod anytime soon.
So
,what should you sell? Well, there are two main types of products:
Hardware(electronic cigarettes)
e-liquids(the liquid that goes into these devices)
Hardwareincludes things like tanks, mods, chargers, and batteries. E-liquidscome in flavors like tobacco, menthol, or fruity flavors likestrawberry or banana nut bread. Some people get creative with theire-liquid flavors by mixing them to create a unique product.
5.Manage Inventory
Inventorymanagement is critical to maintaining your vape store. It's essentialto track which products are selling and which products you need toorder.
Goodinventory management system, like
theErply POS system
,is cloud-based and works with multiple stores and locations. It keepstrack of everything from sales, inventory, and customer data.
Inaddition to that, the Erply POS system allows you to have a mobileapp that helps you process orders right on the spot. You can also runreports on anything you want at any time.
Trythe
60-dayfree trial
toenjoy smooth operations in your vape business.
6.Set Up a Website for your Vape Shop
Websitedesign is an essential component of starting any business, especiallyif you plan on selling products online. In fact,
accordingto E-commerce News
,nearly half of all online shoppers begin their product searches onsearch engines such as Google.
Therefore,your website must get optimized for these types of searches so thatpotential customers can easily find it when they are looking forspecific information about your products or services.
Searchengine optimization (SEO) increases the visibility of a website or aweb page on search engine results pages. It includes strategies likelooking for backlinks, blogging, improving the user experience,increasing page speed, and others.
Besure to use keywords related to your products - terms that youraudience is constantly searching on Google - on product pag
esand blog posts.
7.Market Your Vape Shop on Social Media
Socialmedia is a
powerfulmarketing tool
,and the vape industry is heavily reliant on social media to marketitself. The question is: how can you use social media to youradvantage?
Hereare a few tips:
Youneed to be consistent. If you don't post regularly, people won'tknow what's going on in your shop and won't be able to see how greatyour products are.
Youshould post photos of new products, promotions, and events at leasta few days a week. You can also post videos of new e-liquids orother products that you have in stock.
Tryto keep the same style of photos and videos so that your customerscan recognize them as coming from your shop. It will help buildloyalty among your customers who feel more involved with the brandbecause they recognize it online.
Makesure each image or video has a caption (or description) so thatpeople can understand what they're looking at. The caption shouldalso include hashtags related to the topic so that people can findyour content more easily when searching on social media platformssuch as Instagram or Facebook.
8.Provide Outstanding Customer Service
Itmay seem like common sense, but it's something that many peopleforget when starting an online business. You'll likely be workingalone, for the most part, so you need to make sure that your customerservice is top-notch. This means:
Respondingquickly to emails or phone calls
Offeringfree shipping on all orders over $50 (or whatever amount suits yourneeds)
Offeringfree returns on all unused items within 30 days of purchase
Offeringcustomer support 24/7 (if possible)
Conclusion
Startingan online vape shop can be a gratifying experience if you're preparedto go the extra mile. First, you need to research the space, registerthe business, and choose products to sell before setting up awebsite. Next, you'll want to attract customers through SEO andsocial media marketing. Finally, you'll need to create systems todeliver your products safely and efficiently t customers. If all goeswell, you should be able to start a profitable business that'ssustainable over the long-term.