This Blog is supplied by Norm Bour and VapeMentorS, consultants to vape shops, on-line businesses and others in the Vape Space. This and other related reports can be viewed at www.VapeMentorS.com.
The topic on everyone’s mind is “What’s up with the FDA and the deeming regulations?”
I want to know as well but truth is, no one knows and we’ll not know anything for a while, so chill. The appeals process has been extended to August 8, so if you want to chime in and share your opinion and voice, please visit www.FDA.gov and look for the forms to do that. By all means, subscribe to the newsletters of www.CASAA.org and www.SFATA.org since these two groups will educate you with straight forward no bullshit information.
With that said I wanted to share some interesting side notes to the growth and expansion of the industry, both B:B as well as the B:C market.
As much as government wants to and feels they need to get involved, they really don’t carry as much weight as you may think. You know who does?? WE DO.
As a seasoned entrepreneur for longer than I care to admit, I have a few skills that I’m pretty good at and even more that I stink at. I am good with the radio microphone, teaching my clients how to open successful vape shops and I have a good read of “people.” WHO are these “people?” Who are the “they?” They are us, the vapers and non, the fans and supporters of the industry as well as those that could care less, BUT embrace freedom of choice and the common sense to let “us” control our own lives and destinies.
As I’ve been in the Vape Space for one year now (just celebrated number Uno anniversary on July 4th) I see the changing landscape of the industry and of the customers. There has been a strong transition by “older” smokers in both the user segment as well as the business opportunity side. There has been a huge surge of females and older, i.e. Baby Boomer females now entering this market. Let me touch on that briefly and as we speak I’m writing a Special Report on this pattern.
Baby Boomers, defined by those born 1946-1964, have been a tidal wave of change for decades, from the Love and Peace movement of the sixties to the “Me” generation and disco of the 70’s to the PC/IBM computer explosion for the next several decades, and NOW in this Vape Space.
Tie that together with Women Power, which has blown me away with their power and potential over the past 40 years, and you now have Baby Boomer women getting into vaping as well as owning businesses. Some are retiring and looking for their next career, some are housewives supported by their spouses and some are just entrepreneurial enough to take on this industry. I have run into more than enough to see it is happening before our eyes and I will be monitoring.
Who is most at risk of “losing” in the Vape Space? Unfortunately the demographics that really kicked it into gear: The Millennials or Gen Y. They had (and have) great passion and understand the technical side of vaping, but many do not have the money or experiential background to be sustainable in this industry. I have seen several companies, once strong, fold or come close to closing in just the past few months. These were companies that grew too big, too fast and did not know how to scale. They got carried away with success, which is common, and maybe went overboard. Regardless of where they were, they are now somewhere different.
What can be done to support this demographic? I believe they must learn from experiences or those of others and avoid the worst case scenario before it is uncorrectable. When a dying person is moments away from death it is hard to do anything. But when there are warning signs and indicators in most cases help can be offered.
What do you think? Am I wrong here? I welcome your thoughts, observations and feedback.
One a more traditional and time sensitive note, if you are in the Utah or Salt Lake City area, there’s an event going on in a few weeks called VIP Vape Street (http://vipvapestreet.com/) on July 25-27 at Utah State University. This is the first all outside event I know of so it may be an interesting crowd. And don’t lose sight of where this is: Salt Lake City, heart of Mormon country. When I say the movement of the people and “middle America” is having great influence of the vaping industry this is just one example. These Fests and conventions, once rare, are more commonplace and permeating into nooks and crannies of bigger towns as well as the smaller ones; from the most cool and hip areas to the super conservative ones. THIS is what will save this industry.
Contact me at norm@VapeMentorS.com or 949-495-6162 for information.
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