Vape Shop Business Plan Template [Updated 2024]

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V. Competitive Analysis

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Direct & Indirect Competitors

Smoke Shop
Smoke Shop is an online vape shop that has a large selection of products and has been in business for xx years. Smoke Shop offers a wide array of products like vape tanks, replacement coils, kanthal wire and wick, batteries and drip tips, and a huge selection of the most popular vape juice flavors currently on the market. Besides offering vaping products, Smoke Shop also provides a vast array of flavored liquids. It also provides the service of refilling the tank on-site for the customer.

Founded in [xx], Smoketown is the premier online vape store offering a selection of electronic cigarettes, e-liquids, and accessories. The company’s friendly and knowledgeable customer service team is always ready to provide the best customer service experience to ensure customers find what they’re looking for. In its e-cigarette gear shop, customers can find all their favorite electronic cigarette brands and accessories in one location.

Vape 299
Vape 299 is a local favorite known for its large selection of portable and desktop vaporizers. It also has an impressive selection of CBD, pipes, and other 420 accessories that are sold at some pretty low prices. All products sold on Vape 299’s website are strictly authentic. The company’s support team is super friendly, available 24/7 and helpful, and works to quickly resolve any issues customers may have with the ordering process.

Competitive Advantage

[Company Name] enjoys several advantages over its competitors. These advantages include:

  • Management: The Company’s management team has xx years of business and marketing experience that allows them to market and serve customers in an improved and more sophisticated manner than the competitors. The Company has been able to hire some of the best business developers to handle the sales and marketing.
  • Relationships: Having lived in the community for xx years, [Founder’s Name] knows all of the local leaders, newspapers, and other influencers. As such, it will be relatively easy for [Company Name] to build brand awareness and an initial customer base.
  • Great service at an affordable price: The complete array of vaping products and services offered by [Company Name] nearly equals the most premium positioned competitor, [Competitor Name]. However, [Company Name] will offer these services at a much more affordable price.
  • Location: [Company Name]’s location is near the center of town, giving the company access to people going to and leaving the colleges, clubs, bars, and passersby shopping in the city.
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