With the rising popularity of vape shops around the US, opening your own vape franchise is an attractive prospect. The question remains, however: how much does it cost? Vape shop start-up costs vary depending on your location and the size of the shop that you are hoping to run. There are also, of course, baseline franchise fees and a royalty payment you should be aware of. These costs are relatively minor, however, when compared with the broader financial benefits of opening a VaporFi franchise.
The General Cost
The total cost of opening a vape franchise depends largely upon your store location, which varies from city to city. Before choosing a shop, make sure you’re located close to high-traffic areas, where you’re as visible as possible. One of the biggest expenses will be stocking your shelves with hundreds of e-liquids and vapor devices. While estimates are quite wide-ranging, you should expect to have between $125,000 and $260,000 in liquid capital.
Special Financial Considerations
Vape shop franchising is becoming an increasingly more attractive option, as many banks are shying away from lending to independent vape shop owners. When you partner with a franchise, however, you will benefit from the support of an experienced franchisor, and find the financial burden somewhat lifted. VaporFi will provide you with everything you need to succeed, including the proper resources, training and expert advice. As a result, you will face fewer roadblocks both before and after opening your franchise, and you will be better-equipped to overcome the ones you do face.
In addition to franchise fees, location expenses, and inventory, there are other costs you should also consider. These include insurance, payroll and taxes at your new shop. These expenses can be rather difficult to predict up front, so it’s important to learn about them from your franchisor up front. you should ask the franchisor to disclose this information for you. Vape shops, however, can be very affordable options for many people. Working with a larger brand to open a franchise is usually the best way to get your vape shop off the ground; it also puts you in a strong position from which to borrow money from lenders.