So you’re thinking about starting your own business in the vaping market. But how do you go about and turn your idea into reality? Well, this can either be a lonely process if you choose to do it by yourself or a team effort if you choose franchising.
The numbers don’t lie. While over 92% of franchisees report profitability in the first years of activity, according to the latest stats shared by the British Franchise Association in partnership with Natwest, 80% of new businesses fail in the 18 months.
The explanation behind these numbers is simple. A startup is born from a new idea and is based on a brand initially unknown to the public. An entrepreneur launching a new business has to do everything by himself, which can be rough if you’re new to the game.
However, franchising is very different. A franchisor offers a proven and tested business model, as well as initial training and ongoing support. That is why franchise is described as being in business for yourself, but not by yourself.
In other words, if you want to run your own vape business, why not consider a vape franchise?
With 2.1 million vapers in the UK, investing in your own vape business sounds like a good idea. Besides, while there are currently over 12 million vapers in Europe within an estimated total of 140 million smokers, these numbers are expected to reverse over the next few years. Actually, 90% of all smokers trying to quit are turning into vapers and the retail vape segment is already worth more than £670 million across the world, according to Wells Fargo. In other words, the only way for the vaping market is up.
Also, owning a vape business means selling highly demanded products like vaporizers and flavoured e-liquids. The sale of specialised vaporizers has increased from £739 to over £1 billion when compared to a drop of £270 million in the traditional e-cigarette market.
So what’s stopping you from following you dream and opening your own vape business?
Sky Throne offers a low-cost retail business opportunity in the vaping market. For only £6500 you will manage your own sales kiosk in a high footfall location, while Sky Throne provides constant support and technical assistance. Your branded kiosk will carry Sky Throne’s high quality vaping products such as TRUVAPE and The Council of Vapor.
