Anyone own or know much about the cigar business?

[compassion101]

I am investigating the possibility of opening a cigar shop/lounge. Anyone have experience with this or knowledge?

[Anonymous]

Know your market and demographic.

[Luscher]

Wait and see if the whole Cuban thing passes into law and then buy all the cubans you can!

[TheGardner]

May see an uptick in cigar purchases for a few months, I don't think it would be sustainable honestly. Only go into this if it is your passion and would do it even without Cuban cigars.

Smoking in general has been declining year over year, cigars are no different. The fad will fade and your get rich quick plan will turn into a bankruptcy plan.

Not trying to discourage you, just make sure you are doing it for the right reasons not knee jerk reaction.

Good luck!

[compassion101]

This doesn't have anything to do with the Cuban events fyi. I'm sure that could be a small boost to the industry but not really a factor in my considerstaion. Was just wondering if anyone in the community has owned or worked in the cigar business.

[pipeguy]

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@Luscher wrote:
Wait and see if the whole Cuban thing passes into law and then buy all the cubans you can!

Considering that branded Cuban Cigars are now $20 to $60+ each with the USA market opening up expect to see quality go down and prices to go way up.

OP - I'll PM you

[juggalo9er]

as far as a business model diversifying would be better, cigarettes, vapor (growing quickly) and cigars would not be a bad idea.....roll your own as well

[Anonymous]

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@juggalo9er wrote:

as far as a business model diversifying would be better, cigarettes, vapor (growing quickly) and cigars would not be a bad idea.....roll your own as well

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Especially in a state where such activity is encouraged.

[gen-specific]

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@TheGardner wrote:

Smoking in general has been declining year over year, cigars are no different. The fad will fade and your get rich quick plan will turn into a bankruptcy plan.

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You can still get rich from a company that goes into bankruptcy......

The company pays YOUR salary, the company goes into bankruptcy as the fad fades.

[Anonymous]

The percentage of smokers, as stated,  (including those who smoke cigars) goes down each year. Knowledge is power. Know the business. Location is most important. Are you buying someone's existing business? If so, why are they selling? If not, do your research. Although, the percentage of people who smoke is declining, you can still have a profitable business if you follow a good business plan and keep emotion out of all of your business decisions. Good luck!