Advice on setting up a B&M shop

[anythintreet]

I'm sick of the endless jobhunt and giving serious thought to setting up my own B&M vape shop.  There seems to be new shops of varying quality opening up all the time, so why not me? I've not got much retail experience outside of bars but my logic is I probably know more about the product than most of my local shops - and I know I could sell it in my sleep. With a little guidance, calling is some favours and using a little creativity to make the place look awesome and stand out from the generic shops I think I could do it.

If I were to do it I would probably start out selling a range of run-of-the mill liquids at a competitive price like most of the others - they sell well to the average vape shop local customer - but I'd be looking to add more premium stock like some US brands, possibly TJuice (I know they're extortionate on the wholesale) and if it were a success maybe approach some of the liquid manufacturers on here. Aside from liquids I'd want to stock a wide range of good quality hardware from the likes of Kanger, Aspire, Innokin etc.

So I'm hoping some vendors on here could give me some advice and insight on how to go about this.  Rent aside, how much are we talking to get the doors open?  How risky do you think it would be in the current climate and competition (Liverpool's got quite a few B&Ms now) and what steps can be taken to ensure the whole thing's not dead in the water in a few years if the EU get their way?  Last thing I need is a failed business and a huge debt.

I think I'd have the branding and marketing covered with my own experience and contacts, but I'd need some kind of mentor (or at least a brain to pick) when it comes to everything else about the day-to-day of running a business.

I don't know if I've posted this to the right place, so feel free to move the thread.

Thanks.

*EDIT* I know there's quite a few B&Ms in the Liverpool area now, but with their varying quality (basically anywhere outside the city centre is a different level to the two great shops, and I'm not even including Liberty Flights and Totally Wicked in the equation) I think the competition is healthy and friendly enough that if it's done right with a good location there's a niche to be found without stepping on anyones toes

[lynxkat]

I would imagine, Waterloo or Crosby, would be a nice place for a shop, not sure if there is any already there though. But I don't think so .

[Arcturion]

Hi anythintreet. I've no experience in the vaping sector but am a business owner of 10 years. My initial advice would be to make sure that you spend the time and money to get a good accountant and a good solicitor. There's a fairly significant amount of paperwork involved in both the setup and ongoing running of any limited company (let alone running a retail business) and the very last thing you want to be doing at the end of a long day is faffing with paperwork of any type. If possible get a business accountant on a retainer so that you can get ongoing advice as well as filings sorted - and do this for your personal tax as well i.e. combine them.

This is probably the most important thing but also the hardest to deal with - time off/downtime. Make sure that whatever else you plan you figure out some way of stopping work (completely) at a reasonable time each day and that you get at least one full day off each weekend. At first it's tempting to work all the hours possible and you'll enjoy it. But you'll burn yourself out quickly and really suddenly and that can be nasty.

Good luck

[anythintreet]

Thanks @arcturion. I don't know wether to go Ltd or Sole Trader, but My dad's self employed so I'd probably use his accountant. I don't know about/if he has a solicitor. I'll look into it.

If I want a day off I'd have to go ltd wouldn't I!

[Arcturion]

I can't really advise you about which way to go because I don't know about your particular situation or how you are thinking about running it (and in any event I'm not qualified) but I'd strongly suggest that you spend a bit of time talking to as many people as possible in your local area. For example, go talk to these guys. In my experience 'business mentoring and training' or 'skills training' from these kinds of organisations can be a bit 'patchy' but they should at least have an up to date list of grants and assistance that might be available for new retail businesses.

[Jerri]

I'm in Liverpool. From a buyers POV I think there's room for another shop.

I only use rojeans. The likes of crystal clear and liberty flights don't seem to know a jot about vaping.

Rojeans and Dr Hermans do. And whilst I love rojeans and visit often I find the staff at Dr Herman's shockingly condescending. When I was last in there one staff member picked up my friends MVP and told her it couldn't be a genuine one because she didn't buy it there. Then rounded the conversation off with 'let me explain how loyalty cards work babe'. Plus there stuff is vastly over priced. So I'd go without rather than spend there.

Which means I only really have one shop I'd consider spending my cash in. Rojeans.

So there's absolutely room for a shop with knowledgable, friendly staff.

[shez]

My advice would be compare the prices of items you'd be selling to those online. I popped in to my local vape shop & everything was way way more expensive than online so I don't buy.

[anythintreet]

Jun 10, 2014 17:03:21 GMT Jerri said:

Rojeans and Dr Hermans do. And whilst I love rojeans and visit often I find the staff at Dr Herman's shockingly condescending. 

That's my exact same perspective @jerri.  They might not be the most engaging with customers but Hermans do have some great liquids though

I think with the current shops they all have their strengths and weaknesses. Crystal Clear might not have the most knowledgable of staff (not all of them though) but you can't knock their battery and atty prices! Even some of their liquids arent too bad - i'd happily stock their tobacco and mint ranges cos they sell loads of them

[Vanessa]

Location, location, location!

Secondly, have the best, most knowledgable staff possible.

Will you import batteries from outside the EU? If so, you effectively become the 'manufacturer' so you will need product liability insurance, and test products in the Uk and do your due diligence. Buying from a UK wholesaler is easiest, but you will pay more as someone else is taking on all the risk/responsibility/import duty!

It's hard work, in the responsibility sense, and you never really switch off, but on a day to day level, it isn't 'work' its so much fun. If I could give up my day job and work in a vape shop full time, I certainly would. Vapers are the best people ever.

Be proud of the products and juices you sell.

Make yourself unique and different from other shops. Stock something exclusive.

All the best.

[Deleted]

Jun 10, 2014 15:53:02 GMT lynxkat said:

I would imagine, Waterloo or Crosby, would be a nice place for a shop, not sure if there is any already there though. But I don't think so .

Crosby and Southport have shops as do County Road,and Walton,Kirkby,...non in Broadway though,  ,and I don't know about Kirby. It's a shame Adam  at Rojeans doesn't have an online website.

[Jerri]

Jun 10, 2014 17:43:35 GMT anythintreet said:

Jun 10, 2014 17:03:21 GMT Jerri said:

Rojeans and Dr Hermans do. And whilst I love rojeans and visit often I find the staff at Dr Herman's shockingly condescending. 

That's my exact same perspective @jerri.  They might not be the most engaging with customers but Hermans do have some great liquids though

I think with the current shops they all have their strengths and weaknesses. Crystal Clear might not have the most knowledgable of staff (not all of them though) but you can't knock their battery and atty prices! Even some of their liquids arent too bad - i'd happily stock their tobacco and mint ranges cos they sell loads of them

My local crystal clear swaps staff a lot. For a while there was two lads in who were very knowledgable and I'd go in and have a gab, tell them about new stuff I'd seen and vice versa, take any new juices I had for them to try. They never actually vaped any of the shops juices. But now there's some old bloke in there who hasn't a clue. And the prices have gone up. So I don't go in much now.

But it is good to know I can go in and try a juice before buying. They do some decent fruit flavours.

[Cousin Itt]

Why B+M ?
Webshop is the best way to start imo .
Shops cost a lot to set up and run , rent , rates, fitting out, electric etc etc etc . If it goes wrong it can go horribly wrong and cost you a fortune.
I used to work a lot of shows around the country , quite an expensive set up . Then 7 years ago I went to web sales only . Turnover is up 8 / 10 fold , nothing gets pinched , was cheap to initially start up (I already had stock) and if it flopped I had risked little . You can run it from home so zero rent or rates to worry about.
Low over heads mean you can work on less profit and sell cheaper . The only customer loyalty you get these days is price.
the world is your oyster with websales. Takes a bit of effort and advertising to get your webshop going. Use ebay as one advertising format . just list good selling products and put your web addy across your pictures. send 10% off tickets with any ebay sales for customers who purchase from your website. You end up with a similar return after ebay fees anyway . Sites like this are great too for advertising

My first year of websales I did an order or 10 every week , second year 50-100 orders a week . Now I do 100+ orders everyday and double or treble that at Christmas .

www.ekmpowershop.com is a great way to start a webshop . cheap set up and as easy as ebay to get it set up as its all templates. If it works you can pay designers to upgrade your look . If it fails you can shut it down with not a lot lost.

Best thing I ever did was go internet based

[davetherayon]

From the few b&m shops I've visited, a good idea seems to be to tack on a coffee bar type area where people can relax and vape openly. Of course you could rope the family in to helping with cafeteria duties too

[Steve (VapeStorm)]

Think about franchising with ecigwizard. Im sure Matt Gluggles would be happy to advise you.

[Perpetua]

zeldamum's thread could be worth a read anythintreet . . . .

allaboute-cigarettes.proboards.com/thread/37651/vaping-shop?page=1