Prospective businessmen get attracted to the vaping industry because of its great capacity of profitability. But business veterans will know that starting a vape shop and running it successfully isn’t as easy as it seems. For starters you will require a prominent shop and staff costing, on top of that managing the inventory can be a complete nightmare. You will have to devise many combinations of flavours and strengths among which most flavours won’t sell as desired. Challenges such as E-liquids, newer tanks and mods will make it quite a task.
Having said that making the right choice in your products will make a lot of difference and maybe help you reach profits from breaking even. But the problem is the trends of the vaping industry changes constantly. New products such as custom clipper lighters keep flooding the industry on a regular basis and you’ll find it very difficult to catch up to them. So, if you are planning starting your vape shop you must prepare yourself thoroughly before you start off. Here are a few tips to help you through with choosing the right products.
1. Make sure to be a part of every mailing list
Vaping commodities are manufactured mainly by Chinese manufacturers and they specialize in transforming vaping products from concept to material. Hence, they ship out new products every week and replace them instantly with superior iterations such as Glass Pipes in bulk. Whenever a brand has peaked and slowly on the decline they roll it out and start a new brand hence joining the hype train. The catch is to ride the small peaks that every product experiences before they trickle out. In order to do that you will have to contact each and every distributor and manufacturer and get yourself on their mailing lists. You won’t obviously be buying from every one of them but getting into mailing lists ensures that you know when a new product is getting launched.
2. Harnessing data
There is an old saying which works wonderful relevance in this case- “If the product is free, then you are the product.” Ever wondered why large companies such as Amazon or Google provide so many products for free or very cheaply. It’s because it allows them harness consumer data more efficiently and cheaply than any other hired services. When you give something away for free you learn the likes and dislikes of your customers and their interests. The foremost thing you need to do in order to run your vape shop successfully is analyse the sales trends properly and understand which products are hot with your customers and which are not, whether your customers likes custom clipper lighters or not. That way you will be able to get the right products at the right time for your customers and hence stay relevant to the business. Harness data as much as possible.
3. Hype it up
You need vapers to know that a product exists and is available at your shop. Unless you do both, your products will fail the market. That is why hyping your products will prove to be very essential for your Vape shop. Otherwise you will end up buying glass pipes in bulk and rotting them in your inventory. Use social media effectively to promote your new products and ensure they get enough hype throughout your customer base.
4. Buying low and selling high
Every business some time or the other has to mark their products low in order to get them out of their store. There are tons of distributors and manufacturers who fail to hype their products and get them sold and hence these rot in their godown. Put a bit more effort and try to get these products at a marked down price. Then you can turn these into a profitable sale for your vape shop. Buy in volume and negotiate properly. Buying at a low price and selling them highly always works wonder for your sales.
Getting the right products gets you halfway down the road to successfully running your Vape shop. It isn’t typically tough if you follow the above tips and get the trendy https://shopluvbuds.com/ custom clipper lighters and buy glass pipes in bulk https://shopluvbuds.com/glass/ when these products are trending like hot cakes to your potential customer base.