For entrepreneurs looking for a business with potential, vaping franchises should be on the radar. The vapor industry is expected to more than double to over $10 billion in sales in the US by 2020. Worldwide, the industry is looking at almost $50 billion by 2025. The projections, by Bonnie Herzog of Wells Fargo, are based on current market stability. The vapor market is steady, strong, and stable. Millions of adult tobacco consumers have moved from traditional products to vapor technology products.
There is an X factor. If the FDA makes a determination that e-cigarettes are a reduced risk product and a viable tobacco alternative, we may see public health officials actually support vaping like they do in England. If that happens, the growth of the e-cig industry in America may be even bigger than anyone can imagine.
Electronic cigarettes have been sold in the United States for a decade. In that time, the evolution of vapor products has been dramatic. Remember, e-cigs and mods are technological devices and always advancing. In a way, they are like cell phones. Your potential customers will always be looking for the newest thing. Vape shops have a social element and you can build personal relationships with customers. Vaping franchises help you build your business using a proven model.
A vaping franchise is a ready-made vape shop business. Vaping franchises are an opportunity for entrepreneurs to tap into a rapidly growing business with ready-made business model and established proof of concept. You don’t have to be an expert in vaping. You get an established layout, access to resources, advice, training, and products. This is essentially what you are paying for when you buy a vaping franchise.
A vaping franchise is like any other franchise. The franchisee will have a build-out plan, signage, and a source for inventory. It is much the same as buying any other franchise. The corporate head office will have guidelines and a model to follow. It will be your business but you will be working with a corporate team.
Along with brand recognition and credibility, there are numerous benefits of vaping franchises especially for people who may not necessarily be vaping experts. Corporate staff will generally assist in training. They will bring you up to speed on the trends in vapor as well as schooling you in the use of vapor products. As a franchise owner, a good corporate team can help you quickly become very well versed in vapor. We do recommend that when it comes to hiring, you seek out experienced vapers who know the products. Good staff can make or break a vape shop.
Franchisees will have access to ready-made marketing materials. In addition, franchisees can benefit from professionally executed marketing strategies carried out by the corporate head office. You will want to the certainty of having a protected area in your city or region. The best vaping franchises will grant this.
Because your business will be part of a network of stores, your business will be able to take advantage of the expanded purchasing power which should reduce your wholesale costs.
Being part of a larger vapor business entity has the added benefit of being easier to find. Most customers use the internet to find a local vape shop. Being a part of a larger company just might give you an edge over a mom and pop vape shop.
If someone in your area does an online search for “local vape shops”, being part of a franchise may help you appear higher in search results. You just might get yourself a head start on recognition and trust. Of course, you still have to perform and provide excellent customer experiences to succeed. The vaping franchise simply gives you a nice head start.
We have identified what we feel are the three best vaping franchises in the United States. What we looked for in identifying the best American e-cig store franchises is the branding advantage, the corporate support, success rates, and the layout. In terms of layout, a vaping franchise should have a design that is attractive and inviting while also quick and easy to assemble so you can get your store open and in business as quickly as possible.
Premier Vapor and Lounge franchises are growing at a phenomenal rate. There were 15 franchises at the beginning of 2017 and the company expects as many as 150 franchises by the end of 2018. The model is so fine-tuned that corporate head office informs us that new vaping franchises can expect to be open for business in as little as 30 days.
Premiere Vapor Lounge was named one of the top 100 franchise opportunities by Entrepreneur Magazine. CEO Kevin Monahan was honored by the ranking saying “From large-scale distribution, wholesale operations, to retail operations and franchise opportunities, we are well-versed and involved in every area of this revolutionary industry.”
As a vapor entrepreneur, you want access to those connections. In addition, Premier Vapor and Lounge has their own line of e-liquids that only franchisees can sell. No other shop in your area will have them. In general, you will be selling similar products as your competition so any proprietary products can help.
Vapor Shark also made the list of the top 100 franchises rated by Entrepreneur Magazine. The company has had 30 new stores open in the last two years. The Vapor Shark brand recognition has been aided by the company’s line of products. Devices like the Vapor Shark DNA box mod and the Vapor Flask are very popular among vaping enthusiasts.
The cost of establishing a Vapor Shark franchise requires $25,000 for the initial franchise fee and a net worth of $100,000. The overall cost to get up and running ranges from $120K to $200K. A 1000 square foot to 1,500 square foot space is the ideal.
The process for opening a Vapor Shark franchise is nicely streamlined and designed for a successful opening and beyond. You fill out the application and then have an interview with the corporate office. A webinar session will outline all of the necessary steps to get your store open. Ultimately, you will go to the Vapor Shark head office in Florida to finalize the agreement and begin the process of build-out and opening.
Learn more about Vapor Shark franchises here
Mad Vapes is a North Carolina based vaping enterprise that is making a mark in the industry. They have dozens of franchises in the US and a few overseas as well. Mad Vapes makes our list of the best vape franchises for a couple of key reasons. Number one, they get the newest products on the shelves fast. Second, they have a massive range of products for a full range of potential customers. From the first time vaper to the experienced aficionado.
As a Mad Vapes franchise owner, you will have access to one of the country’s biggest distributors. This gives you the edge of very competitive pricing. Mad Vapes does have proprietary products and their own manufacturing center.
To get started with your Mad Vapes franchise, it begins with the online application that will include your preferred locations. You can own more than one franchise location. Most of the current franchises are located in the eastern United States.
UK Vaping Franchise
The UK has embraced vaping. Public Health England and the Royal College of surgeons have stated that vaping is at least 95% safer than smoking. More and more adult tobacco consumers in the UK are opting for electronic cigarettes. Here you can find the list of best e-cigs in the UK. The vape franchise we want to feature is called, simply, the Vape Store.
The first Vape Store opened in the UK just a few years ago in 2014. In their first year, they made $160,000 or £120,000 profit. That’s year one. The company claims a 100% success rate for franchisees. They have step by step support including help in selecting a location. And like any business, the three big keys to success are location, location, location.
The Vape Store corporate team is well schooled in the TPD guidelines for stores located in EU countries. While the company is relatively new, they know vaping. Franchisees have access to a wide range of in-demand vapor products and e-liquids. The store layout is attractive and inviting. Vape Store corporate provides in-store marketing and national advertising.
Establishing your own Vape Store boils down to a five-step process. It starts with getting qualified and then location selection. That is followed up by training. The training includes business and product training. Next, the corporate team will help you fit your shop. They will help with layout, signage, and setting up the point of sale systems. Finally, the launch complete with marketing.
Canadian Vaping Franchise
The state of vaping in Canada is somewhat muddled but vaping is nonetheless very popular among Canadian tobacco consumers. Each province may have different rules or regulations. If you are looking for a Canadian vaping franchise, it will be important for you to know and understand all applicable regulations in the location where you intend to open.
There are many vape shops in Canada and the industry is growing robustly. There is an effort by the government to introduce harsh regulations which may or may not impact business. While there are many legal questions yet to be settled in Canada, the vaping community is vibrant.
The 180 Smoke vape franchise system has been developed to make starting a vape shop a streamlined and efficient process. In a short time, this brand has developed a lot of clout. They have access to the best prices on hardware so franchisees will be able to offer customers competitive pricing.
The corporate office manages the marketing for you. If you search for vape shops in Canada, internet search results place 180 Smoke at or near the top. That is a very good sign that they know what they are doing on the marketing side of things.
180 Smoke vape shop franchisees will have access to proprietary products including their own Canadian made e-liquid brand. The company offers the potential for excellent return on investment, great profit margins, tiered payment structure, and ongoing support.