You might have noticed people are Vapes Instead of Cigarettes more often.Vapes Instead of Cigarettes
Technological advancements have driven smokers to “vaping”, the widely known term for smoking e-cigarettes. The first e-cigarette arrived on the market in 2004, but it wasn’t until 2010 that the trend caught on worldwide. Interest in vaping continues to grow and with it the production of e-cigarettes. As a result, an increasing number of entrepreneurs are ditching traditional cigarettes for vapes.
Vaping Businesses Are Extremely Profitable
There are 35 million e-cigarette users worldwide. By 2018, vape sales will hit 55 million. This skyrocketing interest in vaping worldwide is the result of various factors. As people become more health-conscious, they’re making the switch from smoking traditional cigarettes to vaping because the latter is less harmful.
Health concerns around the adverse health effects of smoking traditional cigarettes lead to the 2007 UK ban on public smoking. In the years following the ban, vaping became a popular alternative to cigarettes. Vaping technology has made great advancements. Let’s take a closer look at the causes behind the profitability of the vaping industry.
1. Vaping Is Less Harmful Than Smoking Cigarettes
In today’s society, people are becoming increasingly conscious of how their lifestyle choices affect their health and wellness. As a result, fewer people are taking up smoking than did in the past. Moreover, many smokers are switching to vaping because it’s less harmful than smoking traditional cigarettes.
Cigarette smoking has well documented long term health effects, which include lung cancer, heart disease, and an increased risk of stroke. One in five deaths in the US result from cigarette smoking. Vaping can be a less dangerous option for cigarette smokers who want to quit.
It is also important to note that secondhand exposure from e-cigarette vapor is less than that of cigarette smoke. For the safest option, vapers use e-liquids that don’t contain nicotine, the addictive compound in the tobacco used to manufacture traditional cigarettes. Many vapers use THC rich hash instead of nicotine in their vapes. With many people crossing over to vapes, the demand for such products is on the rise. This means that manufacturers of products that allow vaping are set to reap big.
2. Vaping Is Cheaper In The Long Run
In addition to being a better alternative to cigarettes health wise, vaping is also more affordable than smoking traditional cigarettes. Although the initial investment might be a little high, in the long run it comes out to be quite affordable. The savings that smokers make by switching to vaping are significant, especially when you consider the fact that the use of tobacco is more prevalent among people of lower socioeconomic standing. Due to its affordability, it’s no doubt that the demand for vaping products is set to increase.
3. The Vaping Culture Is Vibrant
The vaping community is diverse. Vapers who show up to events showcase only the hobbyist side of the culture. It’s unlikely that a cigarette smoker would approach another smoker to ask what brand they’re using and if they can give it a try. In contrast, such a scenario is not uncommon among vapers. As a result, the users share ideas and their favorite products, which lead to a broad market base for entrepreneurs to venture.
Members of the vaping community even trawl closed online forums to search for the latest vaping gear. Top companies sell limited-edition handcrafted vape pens to vape enthusiasts.
The Essential Costs of a Vape Startup
As a budding or established entrepreneur, you might be wondering how to get into the lucrative vaping business. First, you need to realize that, like any other enterprise, opening a vape business has its share of challenges that you need to overcome.
Like other small businesses, there are some vital steps you need to take to launch your vape business. A few of these steps include setting up a business bank account, finding a location, identifying suppliers, buying accounting and point-of-sale software, marketing the business, and recruiting staff. Stocking inventory is among the main costs of running a weed vape store.
Make sure you include the following products:
- Vaping Hardware
- Replacement Coils
- Vape Batteries
- Battery Chargers
- Vape Juice
It’s advisable to buy your stock from a reputable supplier to maximize the markups on your vaping products. Just be sure not to compromise the quality.
Starting an Online Vape Business
The FDA requires online vape businesses to comply with the same regulations as brick-and-mortar vape shops. When running a vape business online, you need to comply with the regulation of the location where you ship your vaping products.
Additional regulations for online vape businesses include laws around marketing weed vaporizer products online and installation of age verification tools. Keep in mind that the online vaping market is highly competitive, so you need to find ways of setting your vape shop apart.
Vaping offers a unique profitable opportunity for entrepreneurs. The fact is, there’s a huge population of smokers worldwide shifting to vaping. This is why the vaping industry will continue to make enormous profits by offering a safer alternative to traditional cigarettes. For that reason, many entrepreneurs in the startup and small business sectors are jumping onboard the vaping industry.
Click here to learn more about vapes and shop Come Back Daily’s selection of vape products.