How to Start a Business in the Vaping Industry

With the Oxford Dictionary adding the word “vape” to its lexicon and the industry expected to be worth a staggering $61.4 billion by 2025, you would think that the vaping industry would be a sure win to get involved in. You might be right. You can start a successful vaping business with the proper research and hard work.
First, a Brief History

While the first e-cigarette dates back to the 1960s, it would take a few decades before the first modern vapes in the United States were created in 2003. It wasn’t until 2006 and 2007 that the industry that we know it today came into being. It grew from there. By 2015, the market brought in $3.7 billion in the United States alone. 

Opportunities Abound

From starting an online smoke shop to merely offering reviews of vaping mods, vape pens, and vape juices to actually building a brick-and-mortar store, there are plenty of opportunities in the industry. 

Creating an Online Vaping Shop

If you’re too short of cash to open a brick-and-mortar store, there is always the possibility of opening an online store. Keep in mind, however, that utilizing a free website won’t have you rolling in dough overnight – and you will have expenses. You’ll need to know who you’ll get your stock from and where to store it. You’ll also have to familiarize yourself with content marketing – just putting a site up and hoping people find it isn’t the best way to success. 

Offering Vape Products, Accessories, and Components

This can be especially rewarding if you are expanding an already present novelty or “head” shop to include vaping properties. Adding vape pens and mods, as well as popular desktop vaporizers like the Storz & Bickel Volcano, can help to attract new customers. If you’re already selling glass-blown pipes and water pipes, you can bring in more business by offering cannabis vaporizers and mods. 

Creating Your Own E-Juice Line

If you have a delicate palate, a tongue or nose for flavors, and a head for chemistry, then creating your own e-juice or vape juice might just be your business. However, note that the vape juice business has become highly competitive, and you’ll have to know your state and federal regulations. You might also need to know some international regulations, as some countries have banned e-juices containing nicotine. 

The Challenges

For a long time, the vaping industry and its components – batteries, tanks, e-juices, mods, etc., were considered to be a part of the cannabis industry. The FDA has gotten involved, and soon enough, the vaping industry will have its own regulations. You’ll also need to be aware of both state and federal taxation laws and other regulations as well. A solid business plan considering all of this will be necessary.

All of this taken into consideration, if you’re willing to put in the research and the hard work, you can build a successful vaping business. You don’t have to go all-in and offer everything known to vaping to start. You can just be a niche industry and offer purely cannabis-related vaping products. Or, you can simply review the products already on the market for free and some cash.