The Business of Vaping
Welcome to our new column about the business of vaping! This is not the place to go for technical know-how or advice on mods or e-liquids, but if you are in the business of vaping or thinking about it, read on!
As we roll out this column on “Business 101” we ask you, those in the “Vape Space” or those wishing to be, “What do you want to know?”
In successive columns, I will share more about my company, VapeMentors, and how we have grown to be the largest vape specific consultancy in the world. We have worked with retail and online shops, liquid companies, wholesalers, distributors, manufacturers, etc…so there is no sector we haven’t touched.
In this inaugural column, I’ll talk a bit about the growth of vaping across the world: Where it’s caught on, and where it hasn’t.
You don’t have to go back very far in time to recognize the accelerated growth curve of vaping worldwide. What started as a primarily US phenomenon expanded to Europe, the UK, former Soviet Bloc and the Far East, with various degrees of buy in. There have been a few hold outs like the Middle East and South America, but one large country that should be due and willing and ready is India.
With 1.3 billion people and 108 million smokers you would think that the Indian government would support the conversion of smokers to vapers. After all, vaping has been shown to be at least 95 percent healthier than smoking. And governments like that of the UK have encouraged their population to turn to e-cigarettes as a harm reduction method.
But such is not the case. Vape India 2017 was supposed to be the first major vaping event in the country. But it was canceled just days before the September 9 kick off.
It seems that the local Delhi government never approved it officially. But the promoters are not taking this lying down! They plan to appeal to the Delhi high court for a ruling. This is not the first event that has been canceled due to lack of proper permission or because of misconception. And it will probably not be the last. Stay tuned as the vaping industry tries to tackle this new market.
Meanwhile, back in the US, the vaping market continues onward and is predicated to hit $5 billion in 2017, an all-time high.
Do you have questions about mastering the vape industry? If so, send them on to norm@VapeMentors.com and we’ll address them in future columns. Stay tuned for the next one!
Norm Bour is the founder of VapeMentors and creator of the VAPE U online programs. They offer services & resources for anyone in the vape space, including vape shops, online stores and e-liquid brands. He’s also the host of Vape Radio, the largest vaping radio show in the world with more than 1.3 million downloads.
As a founding partner in the Vape Industry Business Exchange (VIBE), Norm is committed to supporting the vape space into this Brave New World.
Contact him at norm@VapeMentors.com.