Is It Time To Sell Your Vape Business?

Vaping Is A Multi-Billion Dollar Business

Current industry estimates show that the global value of the vaping and e-cig market is at a whopping 28.17 billion dollars, and it’s projected to grow even more in the next decade. Are you ready to cash in and take your profits?

Is It Time To Sell Your Florida Vape Business?

The retail sales of e-cigs, accessories, and vaping juice can be highly profitable, and more growth will come. If you currently own a vape retail business but have recently considered selling and moving on to something new or retiring, maybe it’s time to list your business with an experienced Florida business broker.

Selling a vape store involves several steps and considerations. Here is a general outline of the process:

1. Valuation: Determine the value of your vape store. Revenue, profits, customer base, location, inventory, and brand reputation will determine the valuation. Hiring an experienced business broker can help you with this step.
2. Prepare Financial Records: Organize and prepare detailed financial records, including tax returns, profit and loss statements, inventory reports (vaping juice, accessories, displays), labor costs, and other relevant documents. This information will be crucial in showing prospective buyers your value.
3. Find a Business Broker or Advisor: Consider hiring a business broker or advisor experienced in selling retail businesses, especially vaping. Eric Wayne, an experienced business broker, has successfully sold all types of companies, including vape retail stores.
4. Marketing and Listing: Create a comprehensive sales package highlighting your vape store’s strengths and potential. This package should include financial data, customer demographics, lease agreements, inventory lists, social media followers, rewards club members, and other relevant information.
5. Screen Potential Buyers: Evaluate potential buyers and ensure they are financially qualified and genuinely interested in purchasing your vape store. As with many things, there are many potential suitors, but which buyer is qualified, motivated, and can follow through with the transaction? Eric knows how to eliminate the jokers from the deck.
6. Negotiation and Agreement: Once you’ve found a serious buyer, negotiate the terms of the sale. This includes the selling price, payment structure, transition period, and contingencies.
7. Due Diligence: The buyer will conduct due diligence to verify the information provided about your vape store. They’ll review financial records, contracts, inventory, and other relevant documents to confirm the business’s health.
8. Closing the Sale: Finalize the sale by signing the necessary legal documents. Ensure that all legal requirements are met, including transferring licenses, leases, and ownership of assets. Payment should be made as agreed upon in the sales agreement.
9. Transition Period: Depending on the terms of the sale, you might have a transition period where you assist the new owner in familiarizing themselves with the business operations, transferring relationships with suppliers, possibly retaining key employees, and introducing the new owners to customers.

Don’t Go At It Alone

Selling a vape business successfully, promptly, and for top dollar is a significant and complicated endeavor. Eric Wayne, an experienced, discreet, professional, and successful Florida business broker, has helped vape store sellers just like you.

Let me help you sell your business faster for more money and low fees.

I am offering a FREE customized video tutorial and business analysis to help you understand all the factors determining your valuation, listing, negotiations, closing, and more. Call me today at (952) 562-2019.

Wishing you continued success,

Eric Wayne
Eric Sell My Business
(954) 562-2019