When e-cigarettes started gaining popularity, they were known to be foul-tasting but a lot of changes have happened over the years. Consumers now have a variety of options when it comes to flavors and sometimes it can be overwhelming to make a decision. You can now find such products in multiple outlets across the globe. Those who are trying to quit smoking are opting for e-cigarettes as an alternative. For a business person, there is never a better time to invest your money in the industry. Here are some of the reasons you should consider investing in the vape industry.
Marketing Getting Hotter
The e-cigarette market has been growing exponentially in the last decade or so. It was valued at $2.5 billion in 2013 but the numbers have tripled since then. Going by the trend, you’ll expect an upward trajectory. There are some Vape Wholesale Prices That Won’t Be Beat! If you’re just starting out with the supplies. For a business person, you’d want to make sure that you’re getting the best quality and price as your customers will expect nothing less. With a growing market comes plenty of opportunities. You don’t have to physically sell the product in order to make a kill. One of the reasons why the vaping industry has been growing so fast is because of the younger generation. Smoking conventional cigarettes are no longer cool. No one wants to deal with the stains and odor when there is a better alternative.
Marijuana has entered the vaping scene which is bound to make things more exciting. In the places where marijuana is legal, the vaping industry is worth a lot more. The good thing about the plant is there are some parts that are not psychoactive. The use of CBD for example is legal in all the 50 states. CBD can be consumed in so many different ways and vaping is just one of them. The industry is slowly growing in order to serve the marijuana crowd. It won’t be long before marijuana is legally accepted in the majority of the states.
The Evolution of Technology
More and more people are turning to vape as an alternative to smoking. Technology is being leveraged to produce better quality and upscale products that are more desirable for consumers. Technology has also opened the playing field for companies to compete fairly. You don’t have to have millions of dollars for marketing in order to succeed in the vape business. The key is to identify a niche and the potential audience before coming up with ways that you can best serve them.
Little Barrier to Entry
As a business person, you’d want to minimize the chances of failure. You don’t want to waste money on setting up a business only to fail at the start. With the vaping industry, the potential audience is young people who use the internet fairly often. You can identify one or two quality products and start promoting them. The reason for doing so is to validate the business idea. When you start seeing some sales, it means there is a potential for sales. This will save you from having to invest a lot of money upfront when you’re not even sure if the business is going to take off in the first place.
Plenty of Business Opportunities
As we’ve already mentioned, you don’t have to deal with the product itself in order to make a fortune in the vape industry. You can decide to deal with accessories, merchandise, and so many other auxiliary businesses. The onus is on you to take a creative twist of the business. You can decide to create your own brand of e-liquids and vaporizers. If you’re already in the cannabis business and looking to expand, venturing in vaping products will be a no brainer since they’re in a similar vertical.
Help People Quit Smoking
Smoking can be addictive and the long-term effects on health devastating. With a vaping business, you can play a role in helping people quit smoking. According to a study by Public Health England, vapor smoke is 95% cleaner than the one for tobacco. One of the reasons why vaping has become popular is because it helps smokers quit combustible cigarettes. Users can opt to vape CBD oil which has numerous health benefits.
To sum it up, investing in the vape industry is not only lucrative but you also get to help people quit smoking. It is never too late to start a business in the industry.