I think if the decision was made 5yrs ago then the world would have been your oyster. The problems i see is too many jumped on the bandwagon which waters down the demand and increases competition.
Now by no means am i saying its a bad idea, if your area is limited to vape supplies then it could work well. Things to bare in mind would be online competition,maybe an online shop so less overheads and be competitive in the market place .
The other issue is time line, imho i think we are closing in on taxs,restrictions on equipment which may even drive vaping to online/importing(would say underground a too strong word for now).
Here in the UK the EU are trying to push all kinds of stuff through,UK wise prescriptions from your doctors etc etc.........
Certainly a lot of money to be made, even now with a saturated market in most places............reputation,word of mouth is key to be on the cutting edge imo. Trouble is there are so many well established shops/sellers out there,the competition is high.
Being creative/innovative would be the way forward, ideas that maybe have not been introduced or limited right now .
An example would be, RBA ,tanks that have coils and can use rebuidable coils in one........who would have thought a couple of years back. Who would have thought sub ohm vaping would have been a buy over the counter,vape at home type..........
Mods, this could be improved, reduced size, different materials and now customs come in. Nice custom mods........yes lots already but not that many works of art. Look at the options in flashlights, imagine the cross over to a stunning ti mod with the latest chip set. Maybe there are some out there(probably will be) but the rarer they are,the more demand from hard core vapers to stand out from the "vaping crowd".
Many are happy to spend $2-$3+k on a beautiful light piece, well i am sure lots of vapers would too,after all vapers have their mods in their hands most of the time,lights not so much in comparison.
I am yet to use a flashlight for 8-10hrs a day,every day,for weeks/months............if i can spend $xxx on a nice light,why cant i justify $xxx on a nice mod
Being on step ahead is key, what that step is............well think of what would be your ideal mod,cant find/buy it ..........maybe that would be a start for a custom.
On to shops,would require a big risk,as Ryan said it is a gamble. Way of reducing this would depend on area and demand.........only kind of guide line would be the old fashioned way,surveys around town etc to gauge interest.
Not just a vape shop, customers come in and think vape cafe, choices of juice to try(home made from a menu type),vape,chat,sell!!!
I would love a vape shop, have an interest, enjoy it and could talk about it all day. Even my local vape shop said i should be behind the counter a couple of years back :laughing: .
The main ingredient for me is passion, has to be in your blood.............not just a money maker, but a passion. Key ingredients for me in a successful business...........easier said than done and again only my opinion in general .
The clock is ticking though!!!! but saying that, it has been for a few years now and nothing has changed................red or black!!!!