Retailing Company

Binky's Vapes

39%

Funding Goal $150,000
Funding Raised So Far $59,000
Funding Commitments $0
Funding Remaining $91,000
Funding Type Common Equity
Pre-Money Valuation
Investor Ownership
Interest / Dividend
Previous Funding

Company Overview

Binky's Vapes, LLC is a start-up specialty alternative smoking shop to be launched in the coming 90 days. We will sell a wide variety of vape products accessories, repair and a menu of e-liquids to customers including medium- and high-income residents of Maryland and local communities.

Binky's Vapes, LLC is established as a limited liability company owned by its founder. The store will be managed and directed by me, Beatrice Foster, a Army veteran in logistics and program manager with over 20 years' experience in customer service, inventory and product management in the private, military and government sectors. I will be joined by husband as partner when the second store is opened. I will serve many roles until we expand.

My husband and I understand we will constantly fight the stigma of being a "head shop," and plan to educate our communities. We will provide one-on-one and group sessions in the store to teach e-cigarette users and hobbyists about the products.

I started my eBay business and soon realized I could make a bigger impact and reach more customers through retailing my products of choice. As a previous smoker my husband found vaping and electronic cigarettes an excellent alternative. He and I both have tried cold turkey, patches diet and exercise changes but continued to smoke. He achieved success with quitting smoking much sooner than I. We would travel 30-45 minutes to get the vaping products he needed, hence the idea of opening a store closer to our community.

We continue to operate via eBay until we have solidified funding and a location that suites our needs and the community we will serve. eBay has changed what is allowed so our personal site is in the making. We will provide e-cigarette, e-liquids, batteries, associated repair parts and products for our customers.

In the beginning the retail store will be operated by myself and two local employees. Eventually my husband will join the team as we open more stores in MD.

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Business Summary

Company Age 8 years, 9 months
Employees 2
Sub-Industry Specialty Retail, Other
Prior Year Revenue
Current Year Revenue
Next Year Revenue

Products/Services

eCigarette, eLiquids, Vaping Products

Binky's Vapes will stock traditional retail vape items, though the product mix will be a little different from the surrounding store. The history and growth of the store will then be used to develop the right product mix to take advantage of the available square footage and untapped products, education and lounge service to maximize profits.

We will also open vape stores in adjoining Maryland Counties over a two year period to provide close proximity for our targeted audience. Our expansion goals will increase customer awareness, our cash flow, provide jobs to local residents and promote the sales of vape products and accessories.

http://www.businessweek.com/articles/2013-10-03/healthy-markups-on-e-cigarettes-turn-vacant-storefronts-into-vape-shops

Service & Atmosphere

We have come to realize the more customer focused the more repeat business and word of mouth advertising a business receives. We will carry the knowledge and experience from the first store as we build and brand ourselves with multiple stores and lounges for ease of access to local customers.

Our business atmosphere will be clean, friendly and upscale where customers will be comfortable discussing and interacting with us and other customers. We will offer a personal touch, such as birthday special, new flavors at customer request, free product testing, engage with customer, provide training, offering flavor of the month, product repair, lounge and social area.

• Electronic Cigarettes, Pipes, Vape Pen,
Starter Kits
Intermediate Kits
Expert Kits

• Disposable:
Vape Pen Singles
Packed Vape Pens (3-10)

• Training and Education
One on one
Videos
Classes
Group Sessions

• Build Kits and Repair Tools

Retail Growth

Recently opened vape shops have gained immense popularity among E-cig smokers. These shops offer smokers “vaporizers” which consist of five times the battery power and liquid, as compared to E-cigs. In addition, vape shops further allow consumers to choose from hundreds of different flavors and hardware offered by different manufacturers, at a relatively lower price.

According to the Smoke-Free Alternatives Trade Association, the number of vape shops has increased by almost 300% YoY, to 35,000 shops, over the last one year. Avail Vapor LLC, which offers more than 70 flavors, opened its first vape shop in Richmond, Virginia last year. It has opened 13 new vape shops till now, across North Carolina, Maryland and Virginia. The company plans to add over 40 new vape shops to its network.

http://vapestores.com/vape-shops-health-concerns-hit-e-cigs-sales-growth/
https://davenportosrn.wordpress.com/2014/11/07/big-tobaccos-e-cigarette-push-gets-a-reality-check-msn-money/

Management

President
Beatrice M Foster

The store will be managed and directed by me, Beatrice Foster, a Army veteran in logistics and program manager with over 20 years' experience in customer service, inventory and product management in the private, military and government sectors. I will be joined in the future by husband as partner when the second store is opened. I will serve as the company's CEO and COO until we expand.

If you cannot make your donation or investment through this site please send contributions via Paypal: moreinfo@beafoster.com with Binky's Vapes as the subject.

39%

Funding Goal $150,000
Funding Raised So Far $59,000
Funding Commitments $0
Funding Remaining $91,000
Funding Type Common Equity
Pre-Money Valuation
Investor Ownership
Interest / Dividend
Previous Funding

Documents

Contact

Binky's Vapes

Mitchelleville, MD 20721, US

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