- Franchise 500 Rank
-
N/R Not ranked last year
- Initial investment
-
$71K - $106K
- Units as of 2021
-
1 0.0% over 3 years
Founded in 2014 in South Florida by Marlin Silva, Wake N Vape is a retail business for portable vaporizers and e-liquids. They prioritize quality in their approach to crafting e-liquids and started expanding their business through franchising in 2019.
Other products they offer besides vaporizers and e-liquids include apparel, smoking essentials, and do-it-yourself supplies for people who want to create their own e-liquids. Additionally, Wake N Vape is a CBD lounge for customers looking for an area to enjoy their smoking products, including providing rig rentals for dabbing CBD concentrates and herbal oils.
Wake N Vape has been franchising since 2019 and is actively looking to expand its reach further throughout the United States.
Why You May Want To Start a Wake N Vape Franchise
If you want to establish a business as the main source for smoking alternatives in your local community, then Wake N Vape could be a suitable franchise for you. They are seeking franchisees with experience in the e-cigarette and smoke shop industries.
Wake N Vape differentiates itself from competitors by crafting high-quality e-liquids through extensive research and development. By taking months to develop each new flavor, they balance ingredients, test flavor notes, and have rigorous quality control standards. Becoming a franchise with a brand that produces high-quality products may offer a more predictable outcome than companies with a less meticulous approach to product development.
What Might Make a Wake N Vape Franchise a Good Choice?
Wake N Vape provides more than just vaping and smoking products; they support the vaping lifestyle with their lounge and quality-controlled e-liquid flavors. They also have exclusive territories available where a franchise can operate in an area without other Wake N Vape units opening nearby as competition.
A typical franchise agreement runs for ten years. Franchisees may be allowed to renew their agreement if they meet the Wake N Vape requirements. For instance, franchisees must run the business full-time and will need at least five employees.
To be part of the Wake N Vape team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees. Franchisees may also need to meet the company's set net worth requirements.
How To Open a Wake N Vape Franchise
As you decide if opening a Wake N Vape franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Wake N Vape franchise would do well in your community.
Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees about their experience.
If awarded a franchise, franchisees receive various support from the Wake N Vape company throughout the franchising process. In addition to pre-opening training, franchisees may receive marketing support, site selection, and lease negotiation support, as well as on-the-job training and other continued support after the franchise has opened.
Company Overview
About Wake N Vape
Industry | Retail |
---|---|
Related Categories | Miscellaneous Retail Businesses |
Founded | 2014 |
Leadership | Marlin Silva, CEO |
Corporate Address |
13350 S.W. 131st St., #108 Miami, FL 33186 |
Business Overview
Franchising Since | 2019 (5 years) |
---|---|
# of employees at HQ | 10 |
Where seeking |
This company is offering new franchises in the following US states: Florida |
# of Units | 1 (as of 2021) |
|
Information for Franchisees
Here's what you need to know if you're interested in opening a Wake N Vape franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
Initial Franchise Fee
|
$19,900 |
---|---|
Initial Investment
|
$71,400 - $106,300 |
Net Worth Requirement
|
$19,900 |
Royalty Fee
|
4.5% |
Ad Royalty Fee
|
1% |
Term of Agreement
|
10 years |
Is franchise term renewable? | Yes |
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
Third Party Financing | Wake N Vape has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll |
---|
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
On-The-Job Training | 25 hours |
---|---|
Classroom Training | 15 hours |
Ongoing Support |
Grand Opening
Site Selection
|
Marketing Support |
Social Media
|
Operations
Additional details about running this franchise.
Is absentee ownership allowed? | No |
---|---|
Can this franchise be run from home/mobile unit?
|
No |
Can this franchise be run part time?
|
No |
# of employees required to run | 5 |
Are exclusive territories available?
|
Yes |
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