Vaporin, a distributor of vaporizers and e-liquids products, has announced they have signed a lease to open an additional Vape Store in North Fort Myers, Florida. The company, also a marketer of the product, is pleased with the store’s highly visible location. Using cash flow from existing Vape Store locations to fund the development of the new store, the company notes that no additional investment was needed.
With retail store sales being a fast-growing segment of the vapor market, vape stores have tripled during the previous twelve months. A recent report put out by Wells Fargo has indicated the e-cigarette market has decreased $400 million from $1.4 billion to $1 billion while vaporizers, tanks, and mods have increased $400 million from $1.1 billion to $1.5 billion. The retail vape store as a stand-alone segment has also grown to become a $1 billion market.
In recognition of this trend, the company now focuses its attention on expanding The Vape Store retail locations. Vaporin, Inc. has plans to ambitiously grow their retail store model by continuing to acquire existing stores as well as opening new locations. Forecasts going forward call for $650,000 in annual revenue per store.
CEO Scott Frohman noted, “The opening of another Vape Store is part of our strategy to continuously build out our multi-pronged revenue model. We are very pleased with the production from our current Vape Stores as the cash flow generated has enabled us to build out this new location without taking on any additional investment. This allows us to increase shareholder equity as we continue to execute on our business plan. We are very confident in our ability to quickly turn retail stores cash flow positive and will continue to move aggressively towards expanding our retail store, online sales and distribution market shares.”
Both a distributor and marketer of vaporizers and e-liquid products, Vaporin uses a multi-faceted growth model made up of convenience store sales, vending machines, online retail continuity programs and acquiring and opening traditional brick and mortar retail stores. The company’s innovative technology offers the look, feel and taste of traditional cigarettes without tar, smoke, tobacco and odor. Alternatively, Vaporin is offered in a variety of disposable and rechargeable starter kits and flavors. The unique Vaping Pens product line and Made-In-USA E-Liquid is what makes distinguishes Vaporin as one of the emerging brands in the market.
For more information on the company, visit www.vaporin.com
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