You never mentioned the cost of a proper size humidor, to have built. And yet another thing to consider is location. Small towns will not have the customers that a medium size (or larger )town or cities will have, to justify the number of smokers that will even visit the store. hoping that they buy enough every month, to support the stores operation every month
I’ve got a place in mind, nice river town with no lounges. I’m just not sure how much a lounge can make or if it is even a realistic business opportunity
It depends on the city/county. There are places in California where the license can cost upwards of $300,000. Here in Florida, same thing. Anywhere from a few thousand to hundreds of thousands of dollars.
When you say 3-5 years to become profitable is that before you can take money out to pay yourself or profit in addition to paying yourselves? I mean how on earth can anyone survive for 3 years without income?
We do not have a physical retail store. Only online at the moment. But we have many friends that own shops and/or lounges. Finance either through the bank or with private investors.
You never mentioned the cost of a proper size humidor, to have built. And yet another thing to consider is location. Small towns will not have the customers that a medium size (or larger )town or cities will have, to justify the number of smokers that will even visit the store. hoping that they buy enough every month, to support the stores operation every month
What about vendors and where to get products what companies to use to start
I’ve got a place in mind, nice river town with no lounges. I’m just not sure how much a lounge can make or if it is even a realistic business opportunity
I wonder what a ballpark estimate for sales might be for the first year?
It all depends on the location and customer demographics. But often times, it usually takes around 3-5 years to become truly profitable.
Where do you get 100k for a liquor license? It’s max 18k here & I’m in Cali
It depends on the city/county. There are places in California where the license can cost upwards of $300,000. Here in Florida, same thing. Anywhere from a few thousand to hundreds of thousands of dollars.
When you say 3-5 years to become profitable is that before you can take money out to pay yourself or profit in addition to paying yourselves? I mean how on earth can anyone survive for 3 years without income?
We consider paying yourself, your salary, etc. as an expense. So profit in addition to paying yourself.
Being independently wealthy already unfortunately.
Question is, do you guys have a spot, how much did it cost, and how did you finance it?
We do not have a physical retail store. Only online at the moment. But we have many friends that own shops and/or lounges. Finance either through the bank or with private investors.
Probably hard to find investors for tobacco I would imagine. Bummer.
It’s becoming more popular so more people are looking to invest. But, the plan has to make sense. Investors don’t want the risk to be TOO high.
500k 😬
Yeahhhh 😬