Setting up shop.

[mack]

Dec 7, 2014 0:30:07 GMT @letsavit said:

Dec 7, 2014 0:12:17 GMT markm said:

I think you might have your eye on step one, some proper research might get you up there.
but don't forget learning about current regulations, trading standards website and distance selling regs.
then there is the minor matter of running a business. Tax, natinal insurance, product liability 
insurance, business insurance, business rates. Where you source product, legalities arising from importing product, testing it etc. import duties, customs and excise. Finding reliable suppliers, the list goes on.

Come on be realistic, stop bombarding him, find a product or provide a service that's sells with a good margin and the rest will come, his talking about starting out if his garage. I started a business about 10 years ago and still don't deal with most of the above.  

You have honestly have found an insurance company to insure you and your CE marked products in a unregulated industry?  Have you read the small print..  

Does seem slightly excessive especially for what I'm talking about although I'm glad of any input, would be content if someone just plonked down an immovable problem. That then would allow me to think of other things.

[chykensa]

Might be worth talking to zeldamum - she has a vape business piggy backed on another, and she might be able to help you with some of the practicalities.
I know a garage is different to a B&M shop, but all the same, some of the larger issues might be less of a problem for you in the early stages.

[mack]

Dec 7, 2014 1:15:19 GMT chykensa said:

Might be worth talking to zeldamum - she has a vape business piggy backed on another, and she might be able to help you with some of the practicalities.
I know a garage is different to a B&M shop, but all the same, some of the larger issues might be less of a problem for you in the early stages.

That's awesome, thank you I shall.

[Deleted]

You have a young family so I will say don't invest what you can't afford to lose, that goes for any business, let alone one with such an unknown future as this.

Not my industry but I suppose you either sell equipment, juice or accessorises.   

Equipment; well that's just turning over stock from china, don't hold a lot of stock, it could be illegal with a swipe of a pen and when, not if, the bigger players come in they will squeeze the suppliers and sell cheaper than you buy it. Juice, if they ban the sale of nicotine products you're under. It could then go black market, you're need muscle then! Accessories, that's where I think the "niche" market is, hand made quality in the UK, and the least risk and investment.

IMHO from a buyer prospective only.

Good Luck as I really want to see UK companies grow big enough to protect thier brand names and hire quality solicitors.

[thatguy]

Hello mack . I wish you luck if you go down the road you have mentioned. To take a consumers point of view rather than a legal/political one, I'd like to bring a few points to your attention.

1. Stock good starter kits. Bring in evod/protank style starters and shun the CE4 trash most corner shops stock, and make sure that customers know the difference. Even a cheap evod/protank clone vapes infinitely better than a CE4/5. Use these as tanks for tasting juices, let the newbies see the difference in what you offer compared to the local spar/petrol station.

2. Buy good clones, not trash. Many more advanced vapers will gladly pay an extra few quid (your markup) on gear, if it is good. For example, fasttech sell a kraken clone for £6 odds, and it is fantastic. You could charge £10-12 for this and people would be ecstatic, but if you got a crap clone, ppl would feel cheated.

3. Stock a ranges of liquids. Some people want to pay £1.50 or so per 10ml for a vasic liquid, while others are happy at the £5 mark. Don't assume everyone will pay for better liquids.

4. Treat all customers with respect. Newbies should be respected for the effort they make to quit the stinkies, and more advanced vapers could teach you a trick or two.

5. Build a social aspect. Many experienced vapers will gladly come along and run coiling tutorials and the like for you. Be grateful and perhaps offer a little reward for the help they give you.

6.. Use the internet. Use a laptop/TV to show customers reviews of your gear. Great free in store advertising.

7. Offer good customer support. If you help a customer by showing them how to rebuild etc you earn a lot of good will, thus repeat business and new customers via word of mouth.

8. Make customers feel welcome for a chat and a vape. Having regulars pop in for a vape and a chat makes the shop seem busier and a busy shop attracts more customers.

All the best buddy.

[mack]

Dec 7, 2014 1:26:16 GMT @letsavit said:

You have a young family so I will say don't invest what you can't afford to lose, that goes for any business, let alone one with such an unknown future as this.

Not my industry but I suppose you either sell equipment, juice or accessorise.

Equipment; well that's just turning over stock from china, don't hold a lot of stock, it could be illegal with a swipe of a pen and when, not if, the bigger players come in they will squeeze the suppliers and buy cheaper than you can sell. Juice, if they ban the sale of nicotine products you're under. It could then go black market, you're need muscle then. Accessories, that's where I think the "niche" market is, hand made quality in the UK, and the least risk and investment.

IMHO from a buyer prospective only.

Good Luck as I really want to see UK companies grow big enough to protect thier brand names and hire quality solicitors.

Thanks @letsavit, I appreciate the words and thoughts. I can honestly say I would never risk any more than I was prepared to lose (I have a grasp on thisfrom years of forex trading), and that is minimal at the moment. So whilst the probability of it ever getting of the ground is small at least it is focusing my mind for a bit. I'm going to keep reading for a couple of days and hopefully get a story or two from some of the folks that have been mentioned here and have a look at things then.

[Deleted]

Thatguy makes some good points. Quality and service as we can't compete with China on price.

[thatguy]

When a shop is the hub of a vaping community, it makes money. I honestly believe this is the one advantage a brick and mortar shop still holds over companies such as fasttech and focal e cig, or even online UK stores.

[prowler]

Drip Tips. Yeah, just Drip Tips. Wooden, glass, stone, acrylic, metal and anything else.

Have a look around the threads here and see how popular they are. Especially pink ones.

[yourgurnard]

This is Gonna Come Over as Really Negative....! Please Take it in the Spirit Intended, Which IS Positive!....
You Mention 5 Yrs Experience in FX Trading, & That You Don't Have Much in the Way of Capital For a Biz Venture:- Surely You'd Be Better Off Using a Small Trading Bank & Compounding Your Profits? No Premises, No Steep Learning Curve, Good Leverage, No Stock &............No Tax (Assuming Spread-Betting..) Seems Safer To Me as You Can Bale Out Losing Less Than if a New Biz Don't Work Out.....? I'd Be Looking at That....esp. if I Had Prior Experience (It's Cold Working Outside at the Mo'!!! Anyway, G/L!!