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Starting an E-cig Store: Business Plan, Financing, and Opening Procedures, Study Guides, Projects, Research of Electronics

Ashford UniversityElectronics

A comprehensive guide for starting an e-cig store, including creating a business plan, financing options, and step-by-step instructions for opening the store. Topics covered include sales and marketing plans, legal structure, financing, and store setup.

What you will learn

  • What legal structure is recommended for an e-cigarette store?
  • What are the key elements of a business plan for an e-cigarette store?
  • What are some strategies for financing an e-cigarette store?

Typology: Study Guides, Projects, Research

2016/2017

Uploaded on 07/24/2017

wassefkamal
wassefkamal 🇺🇸

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Vape Room
1. Business plan:
•Flexible, manageable, simple
•Should address your strategic direction
•Sales and marketing plan, finance plan and potentially a staffing plan
•Use SBA starting a business plan tool
Legal Structure
Limited liability Company
2. Financing business:
•Access capital via SBA backed small business loans: loans to start up business and expand it.
•Calculate the cost of starting the business:
•Expenses: travel, payroll, rent, supplies, marketing
•Legal fees, state incorporation fees
•Assets: Inventory, buying assets as property, facility improvements, equipment ( see startup cost calculator)
How much can an ecig store make?
“We have heard of stores doing anywhere from a few hundred dollars per day in sales, up to 3,000+ dollars a day in sales. It all depends on the
population, the location, the availability of parking, and the marketing/advertising program implemented by the store. To further aid you in the
process of opening an ecig store, we have included some step by step instructions below of different things you may need to complete during the
process of opening your store”.
Step 1 – Set your budget and make sure the project is plausible.
Step 2 – Decide on a name for your store, that no one else is currently using. Trademark it.
Step 3 – Trademark the name and file an LLC or Inc. under that name.
Step 4 – Hire a graphic designer to design you a logo, business card, flyer, and product brochure for your store. Have these printed.
Step 5 – Find a high visibility location, in a high traffic area, that has out front parking, a good spot for a sign, and room for display cases inside.
Negotiate the lease.
Step 6 – Paint store if necessary. Do any construction if necessary.
Step 7 – Order display cases off of the internet, or from a local provider, measure out your store and design them to fit in the most efficient way. It
would be ideal to have 5-7 display cases.
Step 8 – Order furniture/fixtures/decor to complete design of store.
Step 9 – Order interior sign for behind the center display case, that is created from your new logo.
Step 10 – Order light up exterior sign for above the door, that is created from your new logo.
Step 11 – Order window & door text decals that have your business name/logo, message/slogan, and products you sell.
pf2

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Download Starting an E-cig Store: Business Plan, Financing, and Opening Procedures and more Study Guides, Projects, Research Electronics in PDF only on Docsity!

Vape Room

1. Business plan:

• Flexible, manageable, simple

• Should address your strategic direction

• Sales and marketing plan, finance plan and potentially a staffing plan

• Use SBA starting a business plan tool

Legal Structure

Limited liability Company

2. Financing business:

• Access capital via SBA backed small business loans: loans to start up business and expand it.

• Calculate the cost of starting the business:

• Expenses: travel, payroll, rent, supplies, marketing

• Legal fees, state incorporation fees

• Assets: Inventory, buying assets as property, facility improvements, equipment ( see startup cost calculator)

How much can an ecig store make?

“We have heard of stores doing anywhere from a few hundred dollars per day in sales, up to 3,000+ dollars a day in sales. It all depends on thepopulation, the location, the availability of parking, and the marketing/advertising program implemented by the store. To further aid you in the process of opening an ecig store, we have included some step by step instructions below of different things you may need to complete during theprocess of opening your store”.

Step 1 – Set your budget and make sure the project is plausible. Step 2 – Decide on a name for your store, that no one else is currently using. Trademark it. Step 3 – Trademark the name and file an LLC or Inc. under that name. Step 4 – Hire a graphic designer to design you a logo, business card, flyer, and product brochure for your store. Have these printed. Step 5 – Find a high visibility location, in a high traffic area, that has out front parking, a good spot for a sign, and room for display cases inside.Negotiate the lease.

Step 6 – Paint store if necessary. Do any construction if necessary. Step 7 – Order display cases off of the internet, or from a local provider, measure out your store and design them to fit in the most efficient way. Itwould be ideal to have 5-7 display cases.

Step 8 – Order furniture/fixtures/decor to complete design of store. Step 9 – Order interior sign for behind the center display case, that is created from your new logo. Step 10 – Order light up exterior sign for above the door, that is created from your new logo. Step 11 – Order window & door text decals that have your business name/logo, message/slogan, and products you sell.

Step 12 – Order enough product to fully stock the display cases. We recommend that you stock the center display case with all 10 flavors ofeliquid and cartomizers. We offer wholesale electronic cigarettes as a service and can supply any vapor shop with top quality products. The minimum order is $500. But we will waive the minimum order for any vapor shop/ecig store looking to carry our products. Step 13 – Hire employee. You can use craigslist to put out an ad, or you can put an ad in your local newspaper, or simply make a post on yourFacebook page, and I’m sure someone you know is probably looking for a job, or knows someone who is. It is important that the employee knows all there is to know about the products and is good with customers. We have found that time spent with each customer can range from a fewminutes all the way up to an hour! There is many flavors to try and many great products as well.

Step 14 – Set your employee up through a payroll company. It is not worth it to try to do all of the employee paper work by yourself. This way, atthe end of the week, or of two weeks, you just call your employees hours into the payroll company, they issue a check, and take care of the rest, this includes any employee related correspondence with the government. Step 15 – Insure your inventory, insure your business contents, get business interruption insurance, and get workman’s compensation insurance onyour employees.

Step 16 – Get a cash register and/or POS system with inventory management. Inventory management is extremely important. You are going toneed to know how much of each product sells daily on average, in order to calculate your orders for more inventory. A management system tied into your cash register, is the easiest way to do this. There is touch screen systems that make things very convenient. Step 17 – Set a grand opening. Issue a press release and send it to all major media outlets in your local area, including television news stations,newspaper, and radio, to inform them about the grand opening, Put several ads in the newspaper, with coupons, leading up to this date.

Step 18 – Open your store.