Franchise Deep Dive: Good Guy Vapes’ Franchise Costs, Fees, Profit and Data

LAST UPDATED: 7/2023

FRANCHISE WEBSITE: https://www.ggvfranchising.com/

NUMBER OF LOCATIONS: 35

REPORTED COST TO GET IN: $67,095 to $132,150

REPORTED ROI (Item 19): N/A 

Good Guy Vapes is a New Jersey-based retail franchise that specializes in vaping and smoking products. The company aims to assist individuals in discovering alternatives to conventional smoking. 

How Many Locations Are There?

Good Guy Vapes started out as a small vape shop that its founders modeled on the kind of place that they, themselves, would want to shop at. Since its founding in 2013, the franchise has grown to over 35 locations across six states. 

What Is the Business Model?

At Good Guy Vapes, the mission is “to provide the highest quality vape, glass and hemp products at the best possible price with the best customer service worthy of our name.” The retailer sells vapes and accessories, cannabidiol (CBD), and hookah. The franchisor will provide franchisees with recommendations on new products as well as provide training on its features.

Franchisees do not necessarily need to be owner operators at their store and can hire a general manager to run day-to-day operations. Once a franchisee becomes a Good Guy Vapes owner, they will receive support in operations to get up and running quickly. The brand will help owners evaluate real estate options, select the equipment they will need and offer step-by-step guidance to help fit out each Good Guy Vapes location. Once franchisees commit to a location and sign a lease, they should be able to open in three to six months. 

How Much Can Good Guy Vapes Franchise Owners Make?

The amount that Good Guy Vapes franchise owners make is not publicly available.

How Much Does It Cost to Open a Good Guy Vapes?

Good Guy Vapes offers single-unit, multi-unit and conversion opportunities. Here are the investment costs for each: 

Single Unit

• Initial franchise fee: $20,000
• Total investment: $67,095 to $132,150
• Ongoing royalties: 6% of sales (reduced royalty figures with sales growth)
• Brand development: 1% of sales

Multi-Unit

• Initial franchise fee: $20,000
  • +$5,000 Per additional store at time of entering franchise agreement.
• Ongoing royalties: 6% of sales
• Brand development: 1% of sales

Conversion

• Total investment: $23,325 to $84,350
• Ongoing royalties:  6% of sales (reduced royalty figures with sales growth)
• Brand development: 1% of sales

What Is the Franchise Fee for Good Guy Vapes?

The franchise fee for Good Guy Vapes is $20,000. 

Who Are the Leaders of Good Guy Vapes?

• Shoaib Iqbal — Chief Executive Officer
• Jehad Zeidan — Chief Operations Officer
• Patrick Ganon — Chief Financial Officer
• Julian Seepaul — Director Of Operations
• Rich Capone — Director Of Quality Assurance
• Michelle Chung — Director Of Franchising

What Helpful Articles Can I Read to Learn More?

• The Investment
• The Process
• FAQ
• Meet the Team

Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on this site constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any franchises, securities, or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the franchise and/or securities laws of such jurisdiction.

All content in this article is information of a general nature and does not address the detailed circumstances of any particular individual or entity. Nothing in the article constitutes professional and/or financial advice, nor does any information in the email constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content in this article before making any decisions based on such information or other content.