Starting a business requires a great deal of strategy. In a lot of cases, this means drawing upon your own experiences as a retail customer to create an environment perfectly suited to your target market. The first step is to get your business license and permits. After that, it’s time to start looking at wholesale vapor products.
Draw on the expertise you already have built up. Odds are, you’ve been buying your gear from a brick and mortar vape shop. Looking into their suppliers and the lines of e-liquid on their shelves will give you insight into what performs well for them. Finding the suppliers that can get you the right product is essential if you want to provide the best experience.
Be prepared to budget your starting funds wisely. You’ll need to know what your customers will want before buying wholesale vapor products. Some wholesalers will force minimum order quantities (or MOQs) which may load your shelves with more of one product than you can stock. Some distributors offer informational services and are available for questions, whereas some are online-only with little support offered.
Make sure you won’t have to compromise on quality. Finding wholesale vapor products of verifiable authenticity can be tougher than you expect, and if you don’t take the extra steps to prevent counterfeits and low quality products, your customers may not be the happiest about it. Take precautions, ask questions, and do anything you can to ensure that you are providing your customers with the real thing. Do your research on the industry and follow the trends, it will go a long way in your preparation. While some shops might sell tons of cheap “clone” devices without telling their customers they’re counterfeit, those same shops will see tons of returns and unhappy customers. Buying authentic and sourcing your wholesale vapor products from a reputable supplier will make a lasting effect on your customers.
Keep an eye on your competition and how well they are doing at their scale. If they are similar in business volume to you and haven’t made the decision to expand, do your due diligence to see if there is a reason they have chosen not to. The vaping industry is in a state of constant flux as the cultural acceptance and regulations stabilize. Make sure those closest in size to you don’t know something you don’t. Some businesses actually turn a greater profit by scaling down.
While in the process of starting your vape business, research your sources for wholesale vapor products. Make sure you’ve got the right team of suppliers behind you when you’re starting up. Find the right suppliers, the ones that will help you to get started at your own pace, and you’ll be off to a running start. Stick with the suppliers that help the most, and you’ll be prepared for all of the changes, ups, and downs of the vaping industry.