Choosing to start a smoke shop is a great decision to make in the rapidly growing industry. Total sales in the legal market are projected to increase at a rate of 14% over the next 6 years, reaching $30 billion by 2025. 33 states currently have legal medical markets, while 10 states have legal recreational markets. The demand is there, but the supply is far behind. We want to help you close that gap.
Let's create a fictional smoke shop. We'll call is Khalifa Smoke Shop, named after the great Wiz Khalifa himself. Unfortunately the state we live in only facilitates a legal market, so we will only sell accessories and CBD products. No, based on the data collected, we kinda did our homework, we realized that everyone smokes. Big surprise! Next, all smoke shops sell water pipes, hookahs, and grinders. So what makes us different? Well, we are the exclusive carriers of the Rolled Green, BLA, and Papa Salt brands, along with many other popular brands, like Raw rolling papers. Now, how and where will you set up shop. We choose a great location in the heart of Orlando, FL. but, what if you don't live in Orlando? No problem, we have a great online store built with Shopify. Now comes the "hard" part, driving traffic to your site. Luckily, we have a team of expert marketers that set up Instagram, and Facebook accounts to engages with our fans. In addition, we set up accounts on Yelp, Angie's List, and Google My Business. These services all optimize our search engine rank, which help us appear before our competitors on Google.
In such a heavily regulated industry, it's important to obtain all proper licenses, permits, and insurance before you open. In addition, you'll need to open a business bank account and register for taxes, no on is exempt from paying taxes.
All that's left is growing your inventory. We picked a local distributor, ALT 1000, for all of our needs.
To sum it up, if you want to start a successful smoke shop you need to create a business plan, get the proper licenses, open a business bank a account, market your business and find a reliable vendor for your products.
We hope this guide serves you well, and your business ventures are extremely profitable. Best of luck in your endeavours, and if you're looking for a wholesale distributor remember ALT1000. Best of luck, and sign up for our newsletter to stay up to date with all smoking related news. Until next time!