Should I open or wait??

[BMeister68]

Ok… I have been reading and studying but I just have to ask this question. Due to the current FDA getting involved and the possibility of new strict regulations, would you suggest opening a brick and mortar shop now or waiting until this new proposal is voted on? I would really hate to quit my job of 15 years and have the FDA put me out of business. I am not concerned about the business making it because currently I am in a very “dry” area… just the government. Feel free to move this to the correct forum if I posted it in the wrong place. Thanks for your time. B~

 

[Feraloxide]

I'd go for it while new products are still able to enter the market without registration for a while.

 

[Susan~S]

Once you get in 5 posts you will be able to post to most forums on ECF.

 

[zoiDman]

Ok… I have been reading and studying but I just have to ask this question. Due to the current FDA getting involved and the possibility of new strict regulations, would you suggest opening a brick and mortar shop now or waiting until this new proposal is voted on? I would really hate to quit my job of 15 years and have the FDA put me out of business. I am not concerned about the business making it because currently I am in a very “dry” area… just the government. Feel free to move this to the correct forum if I posted it in the wrong place. Thanks for your time. B~

You CAN'T do anything until At Least the FDA Public Comment period is Over. And you have a Better Understanding of what Direction the e-Cigarette Market is Headed.

Then you have to ask Yourself: If I Quite my Job and Dump the Money into a B&M and it All goes south, can I recover?

BTW - Have you done an Extensive Cost Analysis of just how much Money it is going to Take to get a B&M Started? And then done a Profit Analysis on what would be Realistic Profits after Initial and Monthly Expenses?

 

[TyPie]

The quick answer is: I don't know for sure. BUT, I don't think (and I could be dead wrong) that the FDA is going to completely shut things down. It is a question of, "How restrictive will regulations ultimately be?"

Not long after I wondered why there were not more B&M's opening, there seem to be a bunch of them springing up in strip malls and neighborhood commercial districts.

Do you like to take risks with your own $$$ ?. I would be very careful, make sure you do all your homework. The hard part of any business is, really, accurately assessing the risk. (And I am seeing some places that have sunk a TON of $$$ in some of these stores, and I'm not sure I see them doing bonkers business yet.) Some believe that the bigger the risk, the bigger the payoff. Difficult for us, I think, to tell you you should or shouldn't.

 

[BostonVape]

if i'm not mistaken the regulations won't even go into effect until 2016 right?

 

[PaulBHC]

Get a quote for product liability insurance before you do anything.

 

[Susan~S]

Have you done a business plan?

 

[Rickajho]

With potential regulations an inch away and having the potential to be so crippling that they could put you right out of business... I wouldn't be putting my own money into something like this right now. Especially if you have no motivation for doing so other than "I want to open a vape shop."

 

[Rwb1500]

If you do I'd plan on making as much money as possible as quickly as possible, in case things go south. That means buying in tremendous quantity and being sure you can turn it around quick. Think you can do that? As long as you break even or make a little profit before things get gubermented I don't see why not.

 

[BMeister68]

Thanks everyone! I have done my homework as far as investment cost I am fine with the start up cost and investment. The location has been researched thoroughly. I just was very worried about FDA shutting down shops and what people were feeling. Maybe I just do not understand what the FDA is trying to do because I am not a lawyer and it seems to be a lot of conflicting interpretations….. I know some have begun to stock pile like it will be the end of the world. LOL! I feel very strongly about vaping and I know how much it has changed my life. I really want to bring this to my neck of the woods so I can educate the community about a healthier alternative. There have been many people that have came to me and I have helped them start their vaping experience, but without having it available (except online) it has been difficult for some to stay off the cigarettes.

 

[zoiDman]

Thanks everyone! I have done my homework as far as investment cost I am fine with the start up cost and investment. ...

So what is your ETTBE (Estimated Time to Break Even)?

 

[Imme]

Personally I would educate myself on the deeming regs. I couldn't make a decision without understanding the implications of that, first. Especially since that's what seems to be holding you back. Vapers Place has just finished 4 shows that explains what the FDA deeming regs are, how it would effect vendors, etc. I would suggest Vapers Place VP Live audio replay podcasts to educate yourself. Oliver (the owner?) of ECF is on the round table panel in one show. I can't recommend their shows highly enough for understanding the regs.

 

[BMeister68]

I have given myself a year to a year and a half.... but I really see it possible in six months. (Due to circumstances I won't go into at this time..I am blessed with some advantages that others might not have) And I am not saying that to be arrogant in ANY way. I have always tried to be smart and cautious when it comes to investments and so far it has paid off. But for some reason (perhaps a lack of the correct information) this FDA is scaring the crap out of me.
I will definitely continue to educate myself and watch the podcast!! Thanks!

 

[zoiDman]

I have given myself a year to a year and a half.... but I really see it possible in six months. (Due to circumstances I won't go into at this time..I am blessed with some advantages that others might not have) And I am not saying that to be arrogant in ANY way. I have always tried to be smart and cautious when it comes to investments and so far it has paid off. But for some reason (perhaps a lack of the correct information) this FDA is scaring the crap out of me.
I will definitely continue to educate myself and watch the podcast!! Thanks!

Keep us Updated. And I wish you the Best of Luck in whatever you Decide to do.

 

[Wolf_06]

Good luck to you in the future bro

 

[Iniquitious]

Maybe try a home based shop with a good internet presence and flood the local community with targeted advertising so they know its local. Might be a great way to cultivate some new customers locally without the outlay of capital on a B&M and once the regs are settled you will have the answer how to proceed. Good luck to you.

 

[Susan~S]

Keep abreast of the law/proposed laws in your state and local governments as well as what is going on with the FDA. In Minnesota (was well as many other states) our state/local governments are not waiting on the FDA. Laws are already being proposed and voted on that would treat e-cigarettes as cigarettes and vapers as smokers. If passed vaping would not be allowed in brick and mortar stores. There would be no eliquid stations for vapers to try out new flavors before they purchased them. Vaping would not be allowed anywhere cigarette smoking is not allowed. This would be an extreme hardship to these new businesses and the vaping community at large.

Whatever you decide, I wish you well, and keep vaping!

 

[Elizabeth Baldwin]

I don't think I'd attempt to start a Vape shop until all this has passed. There is so much involved with these regulations that if these regulations go through as is, it will be crushing to nearly all small businesses associated with vaping. The costs of new products alone would cripple any large business let alone a smaller one. Each product means another application. These costs were written for huge tobacco companies with millions to play with. I'd think long and hard before I put my money into any Vape business before these regulations are written in stone.

We have to fight these regulations before they go through.

Good luck...