Recently, VEEX has launched a series of special activities for beginners. You may ask, how do I join VEEX membership? This article will show you how to become a member of VEEX. But before that, you also need to know about e-cigarettes.
Of the 21.5 million smokers who tried to quit in 2018, only 7.5% were successful.
Some studies suggest that e-cigarettes can help people who want to quit smoking. With as many as 68% of smokers wanting to quit, there is a clear opportunity in the vaping industry.
Participating in any industry involves planning, cost analysis and a lot of paperwork. Getting into this industry in particular means following strict regulations and having other industry-specific knowledge.
But being part of the vaping industry can be done. Follow this guide to start planning for success.
Why get involved in the e-cigarette industry?
Smoking causes a variety of diseases, including cancer, diabetes and heart disease. The good news is that many smokers want to quit and are looking for ways to help them quit.
Although they are not FDA-approved smoking cessation aids, studies have linked vaporizer use to greater smoking cessation. The e-cigarette industry continues to grow as more and more smokers look for alternatives to help them quit.
In fact, the global e-cigarette industry was worth more than $14 billion in 2018. By 2022, it is expected to reach nearly $30 billion.
That potential alone is reason enough to enter the vaping industry. But before getting involved, you should understand the barriers to starting a vaping business and what you need to prepare.
Online or in store?
One of the biggest decisions you have to make is whether to open a brick-and-mortar store or whether to sell your vaping products online. The decision will have a lot to do with the state in which you live.
If you live in a state that aggressively bans the sale of vaping products, brick-and-mortar stores won't do. In this case, you may have no choice but to sell your product online.
When choosing between the two, you also need to consider taxes. Some states and municipalities impose taxes on these products, and in some states, these taxes are high. Make sure you know the taxes you'll be paying, the cost may be too high to open a brick-and-mortar store and an affordable option.
Understand the rules
Arguably the most important thing you need to consider when entering the vaping industry is FDA regulations. E-cigarettes are strictly regulated by the FDA, and they are subject to the same regulations as tobacco products.
The U.S. vaping industry is a relatively new industry, and FDA regulations are subject to change. In fact, new regulations are expected to come into effect in 2022. This means you must not only be aware of the FDA's current regulations, but you must also be prepared for changes that affect your business.
FDA regulations affect everything from how you sell your products to how you plan your costs. Knowing these regulations and how to comply ahead of time will help you understand how your business will work.
Start a business
The next, and most creative, step is to give your business a name. After remembering the name, you need to check if the name is available. You can do so on the Secretary of State's website.
Then, you need to register your business. Registration is required at the federal, state and local levels.
You may also need licenses and permits to conduct business in certain states, counties, and cities. Don't forget the fees you'll have to pay for each, which will vary depending on your location.
To properly register your vaping business, it is best to consult a lawyer. The Office of the State Clerk will also provide information on the local regulations you need to comply with to operate legally
