A vape shop is a promising business, but to start one is particularly challenging. Due to the US Food and Drug Administration (FDA) regulations, taxes to be paid, and the bigger issues with logistics, it will take time to finally have one running. But you can make things easier: Own a smoke shop franchise.
The emergence of the vape industry as an alternative to smoking is impressive. Based on the latest figures, in 2016, there were 35 million vapers all over the world. The U.S. still dominates the market with over $3 billion in sales annually. The surge in users was mainly attributed to smokers who wanted to reduce their smoking habits or use vaping as a cessation aid. The market growth is expected to continue as more national health departments are beginning to accept vaping as an effective tool to eliminate smoking.
Costs to Consider
ENDS (electronic nicotine delivery systems), as the device is called, is a battery-powered device. It aerosolizes liquid that has propylene glycol or vegetable glycerin, nicotine, and other flavorings. The system itself can be costly for a potential vape shop owner. Apart from the device, one must consider additional hardware, replacement coils, e-liquids, vape batteries, chargers, and vape juice as additional input costs. But these startup costs can be fulfilled easily through a franchise.
Franchising enables many franchisees to own a business and its brand by buying the right from a franchisor. In the vape industry, the issues with regulations and permits can be easily solved with franchising. Apart from providing the operational equipment or materials and other logistical support, the franchisor arranges licensing, permit, FDA regulations, and business registration requirements.
Vaping has gotten so popular now that it gives cigarette manufacturers a run for their money. Putting up a vape shop may still be difficult, but owning one via a franchise is not. To benefit from the growth, a franchise is a wise option.