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In 2015 the vaping industry has seen more changes than ever before. We have gone from the e cig to mods to temperature controlled devices. It is mind boggling how many new products, new companies have evolved and new ways to use a vapor device have entered the market this year alone. E juice companies are sprouting like weeds in the US and Europe and most places on earth.
What is one to do, or make of all this new product and information changes, that are coming like punches from Mahomed Ali? Vape shops across the US are living paycheck to paycheck in many cases. This is due to the abundance of shops opening in every city across the country. Competition is fierce and price fighting has reached a new level of low that makes us scratch our head and wonder. Who is actually making money? Well.. China is, and a few of the big companies are too. However due to the cannibalization of all of the shops , e shops, e bay, eeks! Profit is shrinking for everyone. I suppose the consumer is winning for now. Only at the expense of all shop owners livelihoods. This is another conversation to be talked about at another time.
Lets just focus on planned obsolescence. This is new replacing the old in simple terms. The problem for vape shop owners is that when the new arrives in their face, the old is still sitting on the shelves. This applies to e liquids as well as devices. So, for instance a shop believes they have made 100K. When they do their inventory they find 30k in old juice and devices that are out of fashion, out of style or they just don't sell. What is one to do? Place the liquids in the 5 dollar barrel and hope someone will buy some to at least recoup some of the lost money. Thats one idea. The truth is it's lost money and every store across the US and Europe and facing the same problem.
Mig Vapor created the Vimanna Vape Juice Bar to combat this adverse profit problem. However creating the bar, not only made a solution for lost profits in bad merchandise. The Vape Juice Bar has created triple profit (something most shop owners have not seen for a long time) as well as customer loyalty. This was an unexpected and welcomed side effect of the bar. Allow me to explain. Customers are coming in shops with the Vape Juice Bar and designing their own mixes. However they are bringing in friends to to make their custom blend, because the friend liked it. Vapers are proud to show off their creation. Many people know what flavors they like and come in and are excited to mix what they already know they want. The juices and nicotine base mixes are made in an FDA registered lab in California, with the highest standards. Vimanna Vape Juice Bar Flavors and PG and VG are of the highest quality.
Promotions for owners are now unlimited vape tastings and contests and giveaways are now fun and exciting as creations are flowing from the bar. Customers are coming back and naming their concoctions of flavor.
Creating a sense of pride and ownership of their invention.
We talked about profits briefly, I will indulge now. The average cost per 30 ML bottle is under 5 dollars for premium e-juice in a glass bottle. This means the store makes 15 dollars per bottle. When a new flavor hits the scene, the shop owner just purchases a new new 750ML flavor bottle for 20–55 dollars depending on the flavor. All the Base and nicotine 30 Ml bottles come 60% full and no flavor added. This means no more bottles that don't sell. The shop owner just buys unflavored base bottles premixed with nicotine in 0, 0.15, 0.3 or 6 mg in pure VG. The pumps for the bottles and the flavor bottles are basically sold at cost to the store. A store can start with as few as 10 flavors and move up to 200. Let's do some basic math.
If a store started with 60 flavors, that would be 60 pumps needed at 100 dollars. ( the pumps are a one time cost as they are accurate to 1/10 of 1 mL). That's $ 6,000 dollars. Then we need flavors, they vary in price so we will work an an average of 35 dollars. So, 60 flavor bottles x 47.50 dollars = 2850.00 so we are at 8,850 dollars. OMG that's a lot! Not really when you consider average shops lose 20k a year in non sellable merchandise. Now let's add the very cool led step bar for $600 dollars and mmm let's say we buy 700, 30 ML bottles of nicotine base to start at 4.05 a bottle 700 x 4.05 = 2835.00. That's another 3435.00!
So the total we are looking at, is $6000 for 60 pumps, $2850 for 60 flavors, and $600 for the bar and $2835 for 700 bottles, plus 100 free bottles to start. If this bar costs $12,285 how the heck does a shop owner make money?
Easy, if the store sells just the 800 bottles he purchased to start, that is 15 dollars a bottle profit. So, 800 x 15 = 12,000 dollars. Stores average a minimum of 30 bottles a day is sales. On a low average stores make 13,500 dollars a month. Your cost of the bar was 285.00 dollars, or you made all most all your money back immediately.