Vape Shop: Start Your Own with a Franchise

19/11/2018 18:00 | Start a business

vape shop

While the number of smokers has been decreasing globally in recent years, the number of people choosing to vape has increased rapidly. According to statistics from the World Health Organisation, there were about seven million vapers in 2011, but this number had risen to a whopping 35 million in 2016. Furthermore, the research group Euromonitor estimates that this number will increase to 55 million by 2021.

This makes it a great time to start your very own vape shop by investing in a franchise. Youll get to become your own boss while benefiting from the experience and support that a franchisor can provide.

What has led to the popularity of vaping?

There are many reasons why people choose to vape rather than to smoke traditional cigarettes. The findings from a study performed by Ernst & Young confirmed that the most common reason for using e-cigarettes is that theyre considered to be less harmful than cigarettes. People stating that e-cigarettes are used to help them kick their smoking habit closely follow this

Alongside the health benefits, the popularity of vaping can also be attributed in part to the fact that cigarette smoking is becoming socially unacceptable. Since the smoking ban made it illegal to smoke in enclosed spaces, including pubs and clubs, from 1st July 2017, peoples attitudes towards smoking have changed. The Ernst & Young survey also found that people switched to vaping as it didnt bother their friends and family as much and some establishments still allow vaping inside.

Vape shop franchise opportunities

So where are people buying their e-cigarettes? Well, great news if youre considering opening a vape shop, the majority are purchased from specialist e-cigarette stores. 35% of those questioned by Ernst & Young bought their e-cigs from a vape shop, while only 21% bought them online.

The UK is currently the largest e-cigarette market in Europe with approximately 2,000 vaping outlets. If youd like to invest in a vape shop franchise, then here are some great opportunities for you to consider.

Vapestore

The Vapestore launched in 2014 as an online retailer. However as this leading e-cigarette franchise has built up industry expertise and an in-depth understanding of the market technologies and products, they have switched to a bricks-and-mortar franchising system.

If youre interested in becoming a Vapestore franchisee, youll need to invest £50,000. Half of this investment goes towards the purchase of your stock so that you can offer customers more products and vape flavours than your competition. Depending on the size, condition, and location of your vape shop, the price of refurbishment and fitting can be anywhere between £20,000 and £35,000.

In return for your investment, youll also receive help to set up your store and prepare for launch. To make sure you have all the expertise and knowledge you need to run a successful franchise, youll be thoroughly trained and have invaluable support as and when you need it. Furthermore, youll stand out from other vape stores with the help of eye-catching regional and national marketing campaigns.

The London Vape Company

Starting as a small, family-run business, The London Vape Company is now the fastest growing vape shop in the UK. Focusing on providing excellent customer service, as well as an extensive product range and a thorough understanding of their stock, The London Vape Company prides itself on creating a first-class customer experience. With a popular try-before-you-buy policy and a massive range of e-liquid flavours, the franchise has built up a well-earned reputation.

If youd like to become a franchisee with The London Vape Company, youll be required to invest around £60,000. Once youre on board, youll benefit from help to find the ideal location for your business, a full store kit-out, access to marketing collateral, use of the London Vape Companys highly regarded brand image, and some of the industrys top products and e-juice flavours.

Youll receive comprehensive training and receive support from business launch right through to when you become more established. So, if youre looking to become part of a business that has a recognisable brand name and image with a strong franchise package, The London Vape Company might be the perfect opportunity for you.

Ecigwizard

Ecigwizard is the largest retailer of e-cigarettes both online and offline in the UK and are looking to continue expanding their brand through further franchising. With more than 45 outlets operating throughout the country and a proven business model, joining the Ecigwizard franchise is a great way to become your own boss. As well as stocking all things e-cigarette, Ecigwizard also has their own dedicated laboratory for developing new e-juice flavours. This enables the brand to continually introduce new stock and manufacture e-juices to the highest safety standards.

If this sounds like the franchise for you, then youll need to invest a minimum of £40,000. However, the typical total investment cost is around £60,000. Although the franchise requires a significant investment, you can expect to earn revenue of £290,000 after two years of running your own business.

In return for the investment, youll receive training in all aspects of running a vape shop. This includes training relating to product knowledge, financial management, administration duties, and the day-to-day running of the business. As well as ongoing access to support and expertise as and when you need it, youll also be provided with the initial stock necessary for opening your new store.

Conclusion

It looks like e-cigarettes are here to stay. The Government has recently acknowledged the significant role that vaping has played in helping smokers to quit and committed to a review of the current regulatory framework. Research confirming the relative safety of electronic cigarettes compared to the smoking of traditional cigarettes has also led to Public Health England to consider promoting the use of e-cigarettes in their quit smoking campaigns.

This means that starting a vape shop franchise can lead to a rewarding and profitable career combined with the freedom that comes from working for yourself.
 

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