Despite public health campaigns and legislation against tobacco products, the demand for cigars remains strong. In fact, the limits placed on where people can smoke may actually be helping cigar shops. Where allowed, cigar shops sometimes double as smoking lounges and are one of the few places at which people can still enjoy a smoking product.
If you are willing to open a cigar shop then you should follow the given steps -
- Plan your Cigar Shop
- Form your Cigar Shop into a Legal Entity
- Register your Cigar Shop for Taxes
- Open a Business Bank Account Credit Card
- Set up Accounting for your Cigar Shop
- Get the Necessary Permits Licenses for your Cigar Shop
- Get Cigar Shop Insurance
- Define your Cigar Shop Brand
- Create your Cigar Shop Website
- Set up your Business Phone System
Some of the biggest expenses incurred when opening a cigar shop include:
- securing a location for the business
- building out the location
- purchasing inventory to sell
- acquiring a humidor for storing cigars
- buying cutters and lighters (if also serving as a lounge)
- In addition to these, there are legal and insurance costs.
Business owners who have limited funds can save by selecting a smaller location that’s still in a high-traffic area. If only selling cigars (and not serving as a lounge), something as small as a mall kiosk could work. Alternatively, a little storefront at a significant intersection could be excellent. Cigars don’t require a large place to display or store, which is why total space isn’t all that important.
To reduce overall inventory costs, business owners can order a variety of cigars but not too many of any one cigar. Cigars are small and light, so they can be shipped in one or two days if necessary. While regularly overnighting orders isn’t a wise long-term plan, it does let business owners get started without tying too much capital up in inventory -- which can take months to sell.
The one expense business owners shouldn’t skimp on is the humidor. A good humidor can cost $20,000 but is absolutely necessary. It’s the humidor that keeps the cigars in stable conditions so they don’t spoil. Without a high-quality humidor, a shop’s entire stock could be ruined.
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