Vaping is an evergrowing trend in the 21st Century followed by the massive conversion of tobacco users from conventional cigarettes into eco-friendly and healthy alternatives such as e-cigarettes and vaporizers. The number of vape users has skyrocketed in the last couple of years as it has also gained international recognition. But to target such a growing market as a businessman, let us get you well-acquainted with some of the aspects that you should be aware of:
Learning About the Vaping Industry:
Gaining sound knowledge about the perimeters of the vaping industry is an integral part of the process as there are various terminologies that you need to aware of.
E-Cigarettes or Vape Pens:
These devices contain the e-Liquid and a heating mechanism which vaporizes the liquid.
E-Liquids or E-Juice:
This is the liquid or fuel which is used with the E-Cigarettes. It features countless flavors from citrus fruits to a wide variety of other aromas.
Vape Mods, Tanks and RBAs:
These products are designed for passionate vapors who like to tweak their vapes and include customizable modules or variants which enable them to control the temperature and intensity of the heat, including additional functionality. You can host all of these items and more with the advanced POS systems of today as POS inventory management can not only help you keep track of your products but also provide real-time data for you to keep your store updated.
Types of Vaping Products:
There are a plethora of vaping products that you can set up in your vape store with the best Retail POS systems to avoid any operational hiccups. Some of the standard options include but are not limited to e-Liquids, E-Cigarettes, Vape Pens, Mods, Batteries for Mods, Coils, Covers, Wiring, and Cotton Kits. By housing all of the above-mentioned products, you will not only increase sales but attract a larger customer base as the vaping industry is always open to innovative developments.
Policies, Taxation and more:
Whenever you are setting up a business, then there are certain legal obligations that you need to tend to execute your business model successfully. E-Liquids also feature a certain amount of nicotine which needs to be approved by the FDA as they set the bar for the overall ratio in all nicotine oriented products. On the other hand, every vape vendor or manufacturer needs to obtain specific certifications and permissions from the government to openly operate or sell vaping goods. With state-of-the-art Vape Shop POS System and purchase by your side, you can always keep track of the different kind of products and their respective attributes.
The taxation is different on vaping products across every state such as the state of Nevada imposes a tax of 5% per fluid millimetre on any nicotine liquid. In contrast, Columbia charges all the way up to 65% accompanied by Minneapolis, Chicago, and Boston, which rank among the highest taxed regions.
Analyzing the Online Market:
Analyzing the online market is essential as with the internet on your side, you can set up a vape store on-the-go. There are multiple eCommerce platforms that can conveniently host your vape store online, such as Shopify, Woocommerce Inventory System, BigCommerce, and more. But in order to get your business the right kind of traction, Social Media Marketing can be the turning point in getting you an adequate share of customers during the initial phases of your startup. Once you go big, you can always upgrade to your very own website store and even list down your products on Amazon for improved exposure to the market!
Mandatory Precautions for the Road:
The vaping business is surely a sustainable business model for you to adopt, but it also has its sensitive areas which require special attention such as the legal implications which are associated with the vaping business. Age Verification is the first and foremost as every state has a different law regarding the provision of nicotine products to individuals including appropriate and clear product warnings and hosting a proper product page or brochure which grabs your customer’s attention and informs them of the terms and conditions of the purchase. In order to assist your employee in getting that information across to your customers more efficiently, NCR Counterpoint can surely pave the way with its Mobile POS terminal for transparent detail viewing and communication.