HOW DID VAPE & SMOKE SHOP FRANCHISE?

Vape & Smoke Shop was founded in January of 2013 when we opened our first retail store, Brickell Smoke Shop, in Down Town Miami, Florida. The company found immediate success and quickly grew to six locations throughout South Florida. Our goal is to provide a one-stop shop for premium products in an atmosphere unlike any other. We strive to be an all-out Smoke Shop with focus on quality products and excellent customer service. We carry over 5,000 products including the largest selection of hand-blown glass, cigars, premium e-liquids, vaporizers, hookahs, shisha tobacco, smoking and vape related accessories.

Our inventory also includes a huge variety of lighters, ashtrays, cases, grinders, scales, detox products, incense, hats, t-shirts, and more. The list goes on and on. If there’s something the customer needs that we don’t carry, we will be happy to order the item and have it available for the customer’s next visit.

OUR TARGET MARKET

There is no denying the statistics that the demand for Smoke Shops is significant. One Stop Smoke Shops are beginning to proliferate around the country. The Head Shop industry is growing into a $15 billion industry this year, with an average growth rate of 8.1 percent, according to IbisWorld research. There is a broad following in this industry that ranges from the age demographic of 18-50 years old. Young and old this industry aims at the masses. Below you will find some statistics for past years industry trends

FRANCHISE OPORTUNITY

Vape & Smoke Shop is leading the smoke and electronic cigarette retail industry. With locations currently throughout South Florida we are looking to expand into more locations through the USA. The tobacco retail industry as well as the new e-cigarette industry are thriving now more than ever.

We offer a full turnkey operation in order to get your store opened with inventory, ready for business. If you are interested in joining our team and want to learn more about our franchise opportunity, please fill out the franchise form and a member of our Franchising team will contact you within 24 hours.

Year Company Founded: 2013

Year Started Franchising: 2016


+8
CURRENT FRANCHISING
130000
INCOME POTENTIAL
3500
CATALOG PRODUCTS

ESTIMATED INITIAL INVESTMENT

Type of Expenditure (1) Amount (Low-High Range) Method of Payment When Due To Whom Payment is to Be Made
Initial Franchise Fee $19,900 Lump sum Upon signing of your Franchise Agreement or Regional Area Development Agreement Us
Travel and Living Expenses While Training $1,000 – $2,000 As arranged As incurred Third parties
Real Estate Lease $3,500 – $7,000 As arranged As incurred Third parties
Furniture, Equipment and Signage $6,000 – $11,000 As arranged As incurred To us or third party approved vendor
Computer System $250 – $750 As arranged As incurred To us or third party approved vendor
Office Supplies $1,000 – $2,000 As arranged As incurred To us or a third party approved vendor
Construction of Leasehold Improvements $7,000 – $14,000 As arranged As incurred Third party contractors
Security or Monitoring System $1,000 – $5,000 As arranged As incurred Third party contractor
Inventory and Supplies to Begin Operating $35,000 – $80,000 As arranged As incurred To us or third party approved suppliers
Grand Opening Advertising $1,000 – $1,500 As arranged As incurred Third parties
Security Deposits, Utility Deposits, Business Licenses and Permits, and other prepaid expenses $150 -$1,500 As arranged As incurred Third parties
Architectural and Engineering $1,000 – $2,500 As arranged As incurred Architectural and engineering firms
Attorneys and Accountants $1,000 – $2,000 As arranged As incurred Attorneys and accountants
Insurance (for first 3 months) $300 – $1,000 As arranged Before opening Insurance carriers
Additional Funds (3 months) $12,000 – $18,000 As arranged As incurred Employees, suppliers, utilities, lessor, etc.
Total $90,100 – $168,150

Who makes a successful Franchisee?

We understand that Vape and Smoke Shop franchisee candidates want more than just a franchise; they want a franchise with purpose to increase the quality of their life and financial position. Just as we are committed to researching and finding the latest and the highest quality products to be offered at our retail stores. Starting a business is a demanding endeavor no matter what industry or opportunity you are considering. As you work through the process of determining what is right for you, you should carefully consider whether the opportunity is compatible with your skills and goals. Not everyone is a good fit for our business model. Thus the clearer you’re about your goals and the more wiling you’re to engage in open and direct dialogue with your Franchise Discover representative, the more we can help you. The good news is that we are mutually vested in the outcome and will not move forward unless we are confident we have the fit as our franchise partner.

Strong Belief System

A chain is only as strong as its weakest link, and a franchise system works much the same way. We take pride in what we do, and we want to make sure every franchisee is dedicated to the integrity of our brand. We also want to make sure every franchisee is willing to embrace our core values:

  • Always do what is right
  • Increase brand value
  • Demonstrate honesty, integrity and work ethic
  • Undeniable customer service
  • Always go the extra mile
  • Accountability to Commitments
  • Research the latest products
  • Only offer the highest quality products to our customers

Multi-Unit and area development agreements

Avalible for qualified candidates

Characteristics and Qualities Fitting for the Role of an ideal Vape & Smoke Shop franchisee must be innately driven, self-motivated and have support from family and friends. They must be willing and enthusiastic about using the proven Vape & Smoke Shop franchise systems. Why would you buy a franchise if you just want to turn around and run things differently? The strength of a franchise lies in its proven systems. Management experience is important, but it doesn’t matter whether it’s in the retail business or something completely different.

Minimum Liquid Capital: $20,000
Minimum Net Worth: $200,000
Credit Score of 700 or above

  • A motivated, self-starter
  • Totally focused and 100% committed to the business
  • A people person
  • Communicative – they reach out and ask for advice
  • Understands and executes marketing
  • Follows the system
  • Supportive of other franchisees – team player
  • Passion for helping others
  • Have family and friends that support their business
  • Financially Qualified

Commitment to a Hands-On Approach to Excellence

Some people want to approach Vape & Smoke Shop with a fistful of dollars and say, “Here’s my money. I want to buy my franchise:’ or “What are you going to do for me?” That doesn’t work for us. We have procedures we will follow to make sure every franchisee is the right fit for Vape & Smoke Shop.

Before signing a franchise agreement, all franchise candidates go through a rigorous screening process including interviews with our executive team, background checks, financial verifications, and more. All candidates are required to also talk with our other franchise owners. Our owners will provide valuable feedback to the candidate, and they’ll also provide valuable feedback to Vape & Smoke Shop, because we all look out for each other. Someday you may be in the same position to want to protect your own investment by helping us choose the right partners for the Vape & Smoke Shop franchise business model.

How will Vape & Smoke Shop Train Me?

Vape and Smoke Shop provides you with a comprehensive and multi-faceted training course. You and up to three addition people may attend training. The training program is comprised of 20-hours of classroom training; 20-hours of on the job training; 2-days of onsite opening assistance (we come to you); and refresher courses are offered throughout the year.

Pre-Opening Training

Pre-Opening Training occurs surrounding the opening date of your new business. This training covers several critical topics that ensure a flawless launch of your local Vape & Smoke Shop business including:

  • Always do what is right
  • Increase brand value
  • Demonstrate honesty, integrity and work ethic
  • Undeniable customer service
  • Always go the extra mile
  • Accountability to Commitments
  • Research the latest products
  • Only offer the highest quality products to our customers

Ongoing Training Opportunities

Vape & Smoke Shop offers our franchise owners various webinars and training programs available on demand, such as:

  • Onsite client location training
  • Social media training
  • Financial management and reporting training
  • Management team training
  • Slide decks and How-To documents make it easy to implement these trainings in your location using traditional Train-the-Trainer techniques.

We have proven sales protocols, market research, and marketing protocols that identify what our customers want and expect from Vape & Smoke Shop By working with a professional brand and design firm, we have developed Vape & Smoke Shop brand standards that ensure consistency across the system. We will help you develop and implement an opening marketing plan and support you with long-term local marketing strategies using the following tools:

  • Annual marketing plan
  • Corporate social media content
  • Targeted email marketing campaigns
  • Monthly automated e-newsletter
  • Automated customer surveys
  • Uniform guidelines

Every year, our corporate support team will meet with you to review your financial statements and help you with next year’s budgeting process further.

We host an annual franchise owner convention every year at our Miami, Florida, headquarters so you can learn about the new products and network with your peers. Additionally, we provide you with all the marketing tools required to grow a thriving business. Periodically franchise owners participate in a webinar to discuss trends, challenges, and wins across the system to improve the brand and share best practices.

We seek driven business leaders who are highly motivated to build a business by following our proven strategy to aggressively target their market, quickly secure exclusive accounts, and consistently exceed business goals. It is together with our franchise owners that we will transform the Vape & Smoke Shop brand into a household name and further our reputation as a leader in the Head Shop/ Retail industry.

Frequently Asked Questions

What type of franchise is available?

Vape and Smoke Shop is offering single franchises and area development agreements for the operation of single or multiple retail locations within an exclusive territory.

How much does the franchise cost?

The total estimated initial investment for a Vape and Smoke Shop single franchise ranges from $90,100 – $168,150 which includes an initial franchise fee of $19,900. This initial franchise fee covers the cost of training, opening assistance, operations manual and other support and franchise development services.

Is there a royalty or an on-going fee?

Yes, the continuing services or “royalty” fee is 5% of the monthly gross revenues derived from the franchised business. This fee entitles you to continued use of the Vape and Smoke Shop name, trademarks, and access to our unmatched franchisee support/benefit system which includes: initial and on-going trainings, proven operating system, marketing assistance, group buying resulting in low product costs, and other benefits that come with being a part of the Vape and Smoke Shop community of franchises.

What about financials?

The Tables below represent the actual unaudited Profit and Loss statement for 3 of our Affiliate stores that have been open for at least 1 year. The Affiliate stores, while not franchisees, operate substantially the same business as that of franchisees herein would operate. There are several factors that are unique to the Affiliate’s business that may be different from the business of a franchisee herein. The Affiliate has 6 locations located in Miami, Florida. The rental market conditions in Miami, Florida are highly competitive with some of the highest rents in the United States. Our Affiliate, Vape & Smoke Shop, LLC, are all located in areas having an extreme amount of foot traffic. Rents in these areas vary, but are approximately $20 – $55 per sq. ft. The population of Miami, Florida which is the 44th most populated which has an estimated 430,332 residents. The median income for the market is $46,946 for Miami, Florida. The gross number from the Profit & Loss Table are earnings before interest, taxes, and amortization (EBITA) which refers to a company’s earnings before the deduction of interest, taxes and amortization expenses. Again, we encourage you to consult with your own accounting, business, and legal advisors.

What about advertising?

We realize that furthering the recognition of Vape and Smoke Shop Tobacco Store brand and reputation is essential in the success of our franchisees. A collective advertising budget allows us to advertise in media outlets that benefit us all. While we have not activated it at this time, we may require a contribution of up to 2% of your monthly gross sales in the future for a national marketing fund. You are also required to spend at least 2% of your monthly gross sales on local advertising.

How much training is provided?

Vape and Smoke Shop provides you with a comprehensive and multi-faceted training course. You and up to three addition people may attend training. The training program is comprised of 20-hours of classroom training; 20-hours of on the job training; 2-days of onsite opening assistance (we come to you); and refresher courses are offered throughout the year.

What form of continuing support will I receive?

As a Vape and Smoke Shop franchisee, you are in constant contact with your franchise representative that will provide you continued guidance with customer service, operations, accounting, marketing, and any other questions that may come arise.

Will I have an exclusive territory?

Yes, each Vape and Smoke Shop franchisee will be given their own “designated zone” in which no other Vape and Smoke Shop locations will be allowed to operate. The exclusive territory will be a radius of 5 miles around your store or a population density of 50,000 people whichever is lesser.

What is the term of the Vape and Smoke Shop franchise agreement?

The term of the Vape and Smoke Shop franchise agreement is ten years, followed by two consecutive renewable terms of 5 years each. The renewal fee at the time of each renewal is 25% of the current franchise fee.

What’s my next step?

Complete the franchise application form on our website. If approved, your franchise representative will reach out to you in a timely manner to discuss the next steps in the franchising procedure. At this time, if you have any further questions, please feel free to call us at (800)710-1050 or email us at franchising@vapensmokeshop.com
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