The vaping industry is one of the fastest growing business sectors in the world, is this the venture for you?

Vaping E-cig imageThe vaping industry is one of the fastest growing business sectors in the world, currently predicted to grow a further 20% to $61 billion by 2025.

Vaping has become a common thing not only for ex-smokers but also for the younger generation, with kids vaping instead of smoking cigarettes. This cultural shift has made vaping fashionable, with people now wanting to buy the best e-cigarette and the best e-liquids, fuelling the growth of  the vaping community.

So, if you want to become a part of a profitable vaping business, now is the time to start. Whether you are considering manufacturing, importing or exporting products, opening on-line or in-store retail outlets we can help you with your logistic and retail supply chain requirements.

At TPS Global Logistics we work with several UK and overseas vaping companies and our experienced team understand the products and processes required for handling these, often classed as hazardous goods.

This guide on starting a vape entrepreneurship, covers issues to consider to help you decide if this venture is right for you.

There are several opportunities for a beginning entrepreneur in the vaping industry.

  1. Opening an online vape shop

This option is cheaper than building a brick and mortar store. But you will need to invest in a website to represent your company, integrate your e-commerce platform, manage social media and SEO promotion. You’ll need to decide where to get stock and where to store it, and how you’ll deliver it to customers.

At TPS Global we specialise in retail and e-commerce solutions for high value, time critical and hazardous goods. So, from manufacturer to customer, we can manage your supply chain operation.

We have an easy and affordable storage package, software that is integrated with all e-commerce platforms and we can pick, pack and deliver your products across the UK or worldwide using our courier and freight distribution network.

  1. Selling vape gadgets, parts, or accessories

If you already run a business and sell products like bongs and water pipes, it can be a good idea to add vapes and vape accessories to your product range.

You will already have experience in importing, so could benefit from our buyer’s consolidation export services. Consolidated shipping has many advantages for business, by combining LTL shipments or small individual shipments under one bill of lading and into one container. You can earn preferred rates and save time and efficiencies. Better still our TPS Global Sea Freight team do all the work for you.

  1. Creating your own e-liquids

Are you one of those enthusiastic vapers who like to cook their own e-liquids? If you’re good at it, why not turn it into business? There’re many similar e-juices and e-liquids on the market. You could create something new and different.

We work with a client who creates vape e-liquids in their West Midlands laboratory. As well as retailing on-line and in UK stores, they are exporting into Europe and Dubai, and expanding into other worldwide destinations such as Canada, the Middle East and USA. Exporting e-liquids is a huge growth area, as legislation begins to relax and demand for the products are increasing.TPS-Global-Logistics-Export-freight-champions

But vape e-liquid products are often classed as hazardous goods due to their ingredients. Therefore, they require experienced handling, packing, labelling and documentation to avoid costly damage and customs delays.

Luckily at TPS Global our MD and Ops Director have both been appointed Export Champions by the Department of International Trade and they are hands on to help and advise you.

To build your vape business you need to identify your target market

Vape shop customers tend to fall into three groups:

  1. Struggling smokers who want to break the habit with a help of an e-cig. These customers need to be educated on using an e-cigarette and the advantages of vaping over smoking.
  2. Current e-cig smokers. There’re about 3 million vapers in the UK. To win them as buyers, you need a high-quality range of products or something new. Experienced vapers like to try new vapes and e-juices, and an affordable price is always a good bonus.
  3. If possible, make sure that your shop is situated near tourist’s hotspots. Usually, they buy e-liquids to refill their devices.
Then prepare for the costs of setting up business.

Setting up any business requires a certain level of investment.  You need to budget for the following:

  • Premises lease
  • Inventory (vape devices and accessories)
  • E-liquids
  • Tech software
  • Liability insurance
  • Business rates and running costs (electricity etc)
  • Understanding the legal aspects of vape business (Vaping regulations change constantly, so be in the know of the latest laws.)

Then if you think you are ready to set up you need to look at your business processes, suppliers and logistics. Which is where we come in, we like to partner with entrepreneurial businesses and streamline their supply chain, so they can concentrate on the day to activity such as marketing.

  • Communicating with customers (answering questions and helping them to find the best option)
  • Networking with other representatives of the industry, researching the latest industry trends. You will need to know the best e-cigs, the best vape materials for a particular type of vaporiser, the peculiarities of the unique e-cigs, and more.
  • Ideally to grow in this industry you’ll need to have a passion for vaping. Some customer will want to discuss current trends, news, and rising vape stars or ask about on-going events. Stay knowledgeable.
  • People new to vaping usually want to know whether it is safer than smoking, or whether it can help them quit. If you love vaping, you’ll be able to attract new customers.

So, the key to success is to combine your genuine interest in vaping with effective business planning. Then leave the logistics to us.

This approach means you’ll start reaping the financial rewards of this booming industry very soon.

Contact us for quotes, guidance and advice +44 (0) 1622 237979 or sales@tps-global.com

 

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