The prospect of opening a vape franchise or a similar business in the US has become more possible, due to the number of Americans who are choosing electronic cigarettes as an alternative to tobacco.
Around 10.8 million people below 35 years old smoke e-cigarettes, which comes to almost one out of 20 adults, according to a study. Those who plan on setting up a business should consider the location, especially since some states impose higher excise taxes on vaping products.
Number of Smokers
A person’s chances of picking up the habit of vaping are higher if they are jobless, smoke traditional cigarettes, or in their 20s. The shift towards vape products has led major tobacco companies to develop their own line of e-cigarettes.
By gender, men still accounted for frequent users of vaping compared to women. The study noted that almost 6% of male respondents admitted to vaping versus 3.7% among women. The growing use of e-cigarettes also caused some states to increase the taxes on sold products.
The tax policy on vaping products has yet to be fully implemented in most states. There are currently eight states that impose excise taxes on all vaping products. Minnesota, for instance, charges taxes based on 95% of wholesale value. California also has a lower charge, based on 65.08% of wholesale value.
Some states determine their taxes on vapor on a per-unit or per-milliliter products. These include Kansas, Louisiana and North Carolina. So far, the US federal government hasn’t planned on implementing federal rules on vapor taxes.
Fewer Americans smoke cigarettes, and this led the vaping business to thrive in the country. A franchise is a better option since it already provides you with leverage by having an established customer base.