In the last few years, there has been tremendous growth in the vape industry. More and more startups are appearing as this can be a highly profitable sector for entrepreneurs to enter. Vaping started out as a way for people to quit smoking but it has quickly developed into its own subculture where both smokers and non-smokers are heavily invested in the culture.
A Popular Industry
So, why are vape startups so popular? The main reason is that this is an activity which has skyrocketed in popularity with over 35 million people using e-cigarettes worldwide. It is predicted to continue growing at a rapid rate with predictions for the industry to eclipse $60 billion by 2025. Entrepreneurs are always on the lookout for industries which are experiencing a boom in popularity with growth expected to continue and there are few industries with as much predicted growth as vaping.
Why are People Vaping?
The industry is proving to be incredibly popular for a few different reasons. First, it is helpful for those looking to quit smoking tobacco as it is a safer alternative and can be used as a stepping stone to stopping entirely. People are also becoming more and more health conscious which means that more people are quitting than ever – this is furthered by more laws on smoking being implemented. Additionally, a subculture has emerged for vaping which is attracting people who did not smoke before as it can be a cool and social activity for people to do together.
A Lucrative Industry
For entrepreneurs, the vape industry is enticing as the future looks very bright. Additionally, there are constantly new developments being made and new technology being introduced in the industry so there is a demand for new products all the time with places like VIP proving that this is a lucrative industry to enter. On top of all this, the setup of a vape shop can be relatively low and stores can even be run entirely online to keep costs down. Kiosks in target locations can be highly profitable and low cost too.
While the vape industry can be an excellent area for an entrepreneur to enter, it is important to be aware of the strict rules and regulations that are in place. These are changing regularly so you will need to stay up to date with these laws and make sure that your vape shop is operating legally and morally.
As a billion dollar industry that is expected to continue growing rapidly, it is no surprise that so many vape startups are appearing around the world. This can be a highly profitable area to enter as so many people are currently vaping and looking to stop smoking along with new products and technologies keeping the industry fresh.