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Costs
- Vape shops are a relatively cheap business to start with costs ranging from $25,000 to $50,000.
- Additional costs such as insurance, licensing, and a lease for the store vary by location.
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Profit
- The average vape shop reports approximately $26,000 in monthly sales.
- If monthly expenses are $10,000, the business would realize an annual profit of $120,000.
Licensing and Franchising Details
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Licensing in the UK
- You do not need a specific license to open a vape shop in the UK.
- Regulations around the sale of e-liquids should be adhered to.
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Vape Store Franchise
- The featured franchise is called the Vape Store, established in 2014.
- In their first year, they made $160,000 or £120,000 in profit.
Additional Information
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Vape shops can be considered tobacco product retailers or manufacturers under federal law.
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Minimum startup costs for a vape shop business: $12, maximum: $27,209, average: $13,936.
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Costs of license and permit fees on average: Retail vaping license: $50–$200 (per year), Seller’s permit/resale license: $50 (one-time fee).
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It might not be as easy to run a profitable vape shop in 2022 compared to earlier due to an increase in the number of vapers. Successful operation requires thorough research, planning, and effort.