Many first time entrepreneurs have started and grown successful vape shops in every state in the country.However, within a few short years many also realized that they didn’t have any formal business experience.VapeMentors was founded in 2013 by Norm Bour, a lifetime entrepreneur, to help these people.After 30 vape business launches and 200+ students in our online community, VapeMentors has become the largest provider of business advice for vape shops, eCommerce sites and e-liquid brands.This is article is a culmination of everything we have learned helping vape shop owners open a shop for the first time.Perhaps the most challenging part of starting a vape shop is picking the right location.The best guide for picking a good location is our ebook “How to Pick a Vape Shop Location”.You can download it here: For now, here is a quick summary of how to pick a location.This is a difficult question to answer with one blog post.Every shop is different, but here is what we say in general: There are lots of expenses involved in starting a vape shop.

You’ll have to factor in the cost to design and build the space, your rent, licensing and insurance.One of your biggest expenses is your inventory – starter kits, mods, parts, e-liquids, etc. This can add up very fast.But you don’t want to skimp on that, because after all, that’s your primary product and the entire reason people will visit your store.To see a detailed guide on how it all breaks down, see this post: One of the biggest challenges in starting a vape shop is getting the financing you need.If you try to get a conventional loan for a vape shop, banks will put you in the riskiest category and charge you exorbitant rates.That is, if they’ll even give you a loan.We recommend Ventury Capital.They have helped launch dozens of vape shops and will help you access the financing you need to get started and grow.We also recommend Fundera, and they also have a great blog post on the economics of starting a vape shop here>> You also may want to look at non-traditional funding sources.

Check out this list of new funding sources you may not have thought of: We also have an extended post about financing here Most merchant account providers put vape space businesses in a “high risk” category and charge high rates upwards of 3 percent or more.TransAct giving us their low-risk rates (well below 2 percent), and offering the same bulk pricing rates reserved for large trade associations.iqos leitsystemCheck out their rates here>>> As for a good POS system, we recommend ShopKeep.iqos price amazonNCR Silver and LightSpeed.iqos leitsystemThey are the most highly recommended brands AND they offer programs that are specific to the vaping industry.vaporizer store brooklyn

Whether you’re just getting started or are frustrated with your current supplier, we have a hot tip for you.Use VaporBeast for all your vaping hardware and e-liquid supplies.One of the fastest growing wholesale vaping suppliers in the U.S., VaporBeast will do their utmost to get you started on the right foot, with low minimum order quantities and valuable guidance on the hottest selling products.cheap vaporizer with bagBatteries explode, and retailers should assume they are liable for lawsuits.violin vaporizerInsurance will protect you from losing your entire business over a $10 battery.ios location change eventThink of insurance as an investment, not a cost.qos of service

We heartily recommend CALCO Commercial Insurance because they are one of the very few insurance companies that specializes in our industry.They offer General Liability (with or without Product Liability coverage) as well as property coverage.They literally wrote the first insurance policy for vape shops and are among the top experts.Other insurers view and rate e-cigarette and vaping businesses as tobacco companies and apply the exact same exclusions to their insurance policies.ios emulator reviewCALCO pools its vaping clients and uses the insurance premium as security, which results in preferred rates and expanded coverage that addresses the needs and exposures of manufacturers, importers, distributors and retailers.Be aware that some brands are specifically not covered by your insurance.Get a list of brands that are not covered and do not carry these in your shop.State regulations on vape shops pose a much more immediate threat to your new shop than federal regulations.

As of March 2016 we have no idea what the regulations will look like, but there are plenty of state regulations to worry about already.Indiana, Iowa, California and many others are handing down regulation faster than we can keep track.While we can’t detail every legislation we can suggest some resources to do your own research: Don’t forget to use MuniCode to research zoning!There are many restrictions on proximity to churches and schools.Most cities require a business license to operate, and some may require a tobacco license, special use permit or conditional use permit.“Special use permits” AKA “conditional use permits” are what cities give to bars, night clubs and other “establishments of ill repute” to impose a sort of “nuisance” tax.Because some cities don’t know how to deal with vaping they tend to categorize them in the same place as these “nuisance” businesses.Obviously this is unfair but nonetheless you may run into this.If you do you may need to address your city council with your concerns.

Special use permits often come with hefty fees so you don’t want to be required to have one.City councils meet regularly to discuss new or pending regulations in your city.They often have public hearings on new legislation, giving you the opportunity to offer your input on the regulations or on your specific problems.Get a schedule from your city to learn about the next public hearing on vaping.If you do go, please follow these tips.Remember that you don’t just represent yourself, you represent the entire vaping community.Federal vaping laws are changing a mile a minute and VapeMentors has a great training program for regulation newbies.It’s a 3-part email mini-course with videos and blog posts.What You’ll Learn In This Free FDA Training Mini-Course: Finally, we want to introduce you to our online training community and courses.We believe these are the best resources available for new and existing shop owners.VapeMentors has helped over 35 vape shop owners and e-liquid lines start and grow a business in the vape industry.