Starting Your Own Cigar Business
The cigar business is a billion dollar business. Many rich and wealthy people invest in it because there’s a captured market for it. This business guideline will help you with a few steps that can help you get started in this lucrative business venture.
First and foremost know the effects of cigar to health. Statistically it has been proven to be linked to all sorts of cancers and these numbers don’t lie.
Become an Expert When it Comes to Different Types of Cigars
Understand that your type of business promotes irresponsible health practices. That said, next study your product. Do a research on which cigars are easily movable and marketable. Research also different brands as well as different flavors and tar grade content. As a business owner it is your duty to take ownership of your business. You got to know your products’ inside out.
Find a Supplier You Trust
A cigar business operates similar to a drug store business or a soap retail business. You’ve got to have a trusted supplier who can deliver high quality products on time and regularly. Find a supplier thru the web or thru personal references. Try talking with a sales representative and get a deal. Try to offer a bargain like you’ll take 5 boxes but in exchange he’ll give you 1 free. Or maybe you can get a consignment deal for 30 days so you don’t have to shell out money for inventory. Think about your moves when dealing with suppliers. Work smart not hard.
Survey a Good Spot for a Cigar Store
Truth be known, most businesses succeed or fail depending on the store location they choose. Don’t be in a rush in searching for the right place. On the other hand, don’t take to much time either or you’ll never accomplish anything. Start by working on your calendar and set a definite date to start. With the time you have, survey as many locations as you can. Try to look for stores which you can tie up your business to. Find a location near a liquor store or find a location near a gas station where many people stop over to buy stuff.
Get a Cigar Business License to Operate
Talk with a business lawyer to help you with legal matters such as store permits, business licenses and maybe a liquor business license too. Better to get first hand expertise than try to save money by doing it yourself only to find out you lack proper documents to begin your venture and cost you twice as much at the end.
Buy Equipment for Your Business
After you have gotten your licenses and have found the right location for your store, begin to invest on store equipments. Purchase display cabins, racks for other products you might want to sell as you sell cigars and maybe cooling equipment for beer, bottled water or other beverages like soda.
Have a Target Profit Goal
Before you begin your cigar sales, compute for a targeted amount of sales your business needs to cover your daily expenses, incurred debt, and also make money for you. Be prepared and know your business numbers.
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