Start a Wake N Vape Franchise in 2024

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 Definition: The initial fee paid to a franchisor to join their system What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.	$19,900
Initial Investment Definition: The total amount necessary to begin operation of the franchise What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.	$71,400 - $106,300
Net Worth Requirement Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.	$19,900
Royalty Fee Definition: A ongoing fee paid to the franchisor on a regular basis. What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.	4.5%
Ad Royalty Fee Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.	1%
Term of Agreement Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.	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? Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.	No
Can this franchise be run part time? Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.	No
# of employees required to run	5
Are exclusive territories available? Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.	Yes