Wesley's to open second vape shop

[zoiDman]

Heck I learned everything I know about negotiation from watching Pawn Stars so you probably don’t want to mess with me.

 

[somdcomputerguy]

..I think you might be surprised how flexible a landlord with empty commercial can be.

I want this opinion to be taken on a general level, but I'm sure people here know which groups I am referring to. People can be very flexible and negotiable, or at least seem to be, to get money.

 

[somdcomputerguy]

flexible and negotiable

For good or bad.. whatever is good for them is good..

 

[YoursTruli]

I have heard about a few new vape shops opening over the past few months and by larger vendors that have been in the game for a while and know the score like CravinVapes, so, I don't know what to think about it. Maybe they know something we don't.

 

[somdcomputerguy]

Heck I learned everything I know about negotiation from watching Pawn Stars so you probably don’t want to mess with me.

I'm sure that shop in Detroit offers a good training..

 

[Jazzman]

Opening a vape store now could be very profitable and I see no reason not to. Just like adjusting for impending market forces on any business you need to plan a business strategy according to market potential over time taking in all considerations. For example: Do not spend a lot of money on the storefront setup anticipating a short term profitability rather than a long term investment. Do not sign a lease longer than 2 years until the dust settles with regulation. Plan on reducing inventory to negligible levels near the end of the lease term if regulatory hurdles are insurmountable before a new lease term is entered. You will be in a better position to negotiate good lease rates for the next lease term if regulatory issues are manageable, leaseholders will be quite flexible in renegotiating a lease for an existing tenant.

In SoCal there are so many available storefront rentals available it is not at all uncommon for 1 to 2 year lease terms for a new lease contract if the lessee has realistic expectations. Just be aware a leaseholder will not be willing to do buildouts or significant improvements for a short term lease (generally less than 5 years). The new business owner will need to incur costs such as new flooring, wall treatment, etc. 1 or 2 year leases will be more expensive month to month for shorter term leases, which is fine for both parties if the business is structured with this in mind. A business opening a second location with a positive history in their first location is very likely to get quick approval for a shorter term lease based on the history of the 1st location.

Opening a short term business with good planning is not really a gamble and with proper management can be very attractive. Look at all the 3 month leases for Halloween stores and Christmas stores (pop-up stores) that crop up year after year. So yeah, done right this can a very positive venture for the short term with the only gamble being will it also be a profitable long term investment. But done right, negligible downside.

 

[CharTech]

Opening a vape store now could be very profitable and I see no reason not to. Just like adjusting for impending market forces on any business you need to plan a business strategy according to market potential over time taking in all considerations. For example: Do not spend a lot of money on the storefront setup anticipating a short term profitability rather than a long term investment. Do not sign a lease longer than 2 years until the dust settles with regulation. Plan on reducing inventory to negligible levels near the end of the lease term if regulatory hurdles are insurmountable before a new lease term is entered. You will be in a better position to negotiate good lease rates for the next lease term if regulatory issues are manageable, leaseholders will be quite flexible in renegotiating a lease for an existing tenant.

In SoCal there are so many available storefront rentals available it is not at all uncommon for 1 to 2 year lease terms for a new lease contract if the lessee has realistic expectations. Just be aware a leaseholder will not be willing to do buildouts or significant improvements for a short term lease (generally less than 5 years). The new business owner will need to incur costs such as new flooring, wall treatment, etc. 1 or 2 year leases will be more expensive month to month for shorter term leases, which is fine for both parties if the business is structured with this in mind. A business opening a second location with a positive history in their first location is very likely to get quick approval for a shorter term lease based on the history of the 1st location.

Opening a short term business with good planning is not really a gamble and with proper management can be very attractive. Look at all the 3 month leases for Halloween stores and Christmas stores (pop-up stores) that crop up year after year. So yeah, done right this can a very positive venture for the short term with the only gamble being will it also be a profitable long term investment. But done right, negligible downside.

My perspective was long term and didn’t even consider short term. If you’re already a vape shop owner then yeah, makes complete sense, plan for short term. The next couple year will probably be the most profitable and who knows maybe it will work out for long term. Brilliant Jazzaman!