Starting your own vaping wholesale business in the US might seem intriguing and impossible at first. However, there are cons for every business you can think of, especially if we’re talking about vapes and vaping products here.
Thus, this article is going to list all the pros and cons of starting a vaping wholesale business to help you get started and prepared for the worst to come.
But before that, let’s have a quick look at some statistics…
Vaping Wholesale Business Statistics You Need to Know
The world’s entire vapor products market was worth $22.6 billion in 2018, which was $4.2 Billion in 2013 alone.
According to vaping business gurus, this number is going to drastically increase till the year 2025, which will be around $61.4 billion- which is a whole 20% growth rate. (source)
You Will be an Entrepreneur
Being an entrepreneur is as exciting as it sounds. However, there’s no fixed routine if we talk about entrepreneurs. Apart from the noteworthy title, you will have to face new obstacles and challenges every day regarding your new business.
Starting a vaping wholesale U.S. business does not mean you’ll only have to stick to one business. Rather, you will have many more business opportunities.
Because the demand for vapes and cannabis is on the rise, everything related to this niche is becoming a preferable choice for all the smokers out there.
Even non-smokers are enjoying vapes. Therefore, you will be able to satisfy such demands easily once you step foot in the vaping wholesale business.
Here we’re talking about opening your own online vape shop, a brick-and-mortar vape shop, creating your very own e-juice brands, and even creating your own brand of vapes! The possibilities are endless!
Your vaping wholesale business will be profitable for sure. Here we’re talking facts of the rise in vaping devices over the past years, which keep on increasing every year. Also, ask an entrepreneur, it would be a wise idea to step your foot into one of the most profitable businesses, rather than creating a niche or market of your own.
Creating your own market or niche may have several advantages, but riskier. Therefore, aiming for a market where profits may be high would be a wise thing to do.
You’ll Help Smokers Quit
Vapes are ideal substitutes for smoking. This is because, unlike tobacco cigarettes, vapes do not contain harmful chemicals which are injurious to our health.
Therefore, vapes are great for those wanting to quit smoking. This is a great advantage to starting a vape wholesale business, as you’ll not only be making profits but making other people’s lives better.
Even researchers have agreed how incorporating new features of technology into vapes greatly helps save lives and also improves the health of millions of ex-smokers out there. This will not only be a business for you, but also a mission.
Getting enough funding to start an independent business will be difficult if you don’t have enough finances.
Well and good, if you can acquire financing from banks.
If not, starting your vaping wholesale business in a market like the US will be a real challenge.
Besides that, you may also have to face:
Laws & Regulations
The laws regarding the vaping industry are constantly changing over time. Therefore, this can actually be quite a challenging factor when you’re a new entrepreneur. Moreover, even state and local rules regarding vapes may alter or affect some of your decisions.
It is also important to note that some cities in the US don’t allow opening a vape shop near schools or parks. This is an important consideration to make when opening your own vape shop.
It is estimated that in the States, there are currently more than 3K vape shops. Because of the high demand for vapes, more and more vaping businesses are coming into existence. Therefore, staying competitive is difficult for start-up businesses.