Vape products are getting popular around the world. Do you want to start your own vape brand? Are you puzzled how to start your vape business? Are you searching a reliable vape factory and did not find the right one?
Market research is an organized effort to gather information about target markets and customers by many different methods, which helps to identify and analyze the market size, development trends, the customers needs, the regulations, and the competition. All these factors should be taken into consideration. Given that the vaping industry boom all around the world in 2022, to determine the target market and the target customers to develop is tricky. The market research is an important part in whole business strantegies, playing an important role in market determination.
As the market research shows, the disposable vape devices are getting popular around the world. The competition in disposable vapes is also getting hotter, which requires expression of stronger comprehensive strength to stay ahead of the competition. It is also important to make short-term and long-term development plan according to the market research.
Professionals in vape industry
It is important to gather the experts for every link to start a vape brand business. As the vape industry advancing, the vape technologies have set high barriers for new entrants to the vaping industry. The ID, the CMF design, the structure design, the surface processes, and the promotion and sales, all the links require professionals with years of experience in vaping industry. These staff should not only really know how the vaping industry, especially technologies work, but also can perform the tasks themseleves with creative minds. It is also important to identify professionals in vape factory to ensure the product quality. Staff is the key to raise up creative and reliable solutions.
Product is always the core heart for a vape brand owner. It is hard for a newly-developed brand to win customers trust, a good vape product is a stepping stone. Any vape brand will not survive without good products. What are the good vape products? The vapes that comply with local laws and regulations, the vapes that meet target customers’ needs, the vapes in high qualities, and the vapes applied with cutting-edge technologies and creative schemes.
The vape product categories can be determined according to the market research, the refillable MODs, the pod-systems, or the disposables vapes. For instance, the diposables market share is getting bigger since 2019 globally. The disposable vape devices shapes are closely related to the models, the exclusive models and the public models. The models are also the most expensive part at the earlier stage of product determination. The public models cost less but common in vape market, usually customers can buy it anywhere at low prices so that is not recommended for new vape brand; The exclusive models cost more but help new vape brands to tailor their own distinctive vape products, which help new vape brands stand out from the crowd.
Assess the setup costs
Capitals are essential to start your own a vape brand. Setup cost is the minimum cost to start a vape brand, including but not limited to the office rent, the labour cost, the equipment cost, the cost for product manufacturing in vape factory, and the promotion cost. Cost has a decisive effect on your vape brand business size, target market, and the product itself, which is an important part in your business strategy, influencing your vape brand short-term and long-term development.
The setup costs are also linked closely to the risks and the returns in development process.
Assess the risks and returns
Challenges and opportunities co-exist, which requires the vape brand starters to assess the risks and the opportunities to see that how long you can afford without returns, how long will it take to have the cost back and make profits, how much risk will you take for your vape brand, and how long will your brand last without returns. Risks and returns are an important part in your bussiness strategy. Sufficient capital will help a lot at the earlier stage for a new vape brand.
Find a reliable vape factory
It is the key part to find a reliable vape factory to manufacture a vape product for vape brands owners. It is easy to find a vape factory in China, the capital of vape industry. But it is really harder to find a reliable vape factory that is appropriate for your business and get a good offer from the vape factory. The vape factory can provide OEM or ODM services.
To find a reliable vape factory, firstly, the general picture of the whole vape factory should not be overlooked. So that you will learn the general costs, the average production environment, the average manufacturing period, and the general situations, which will help you choose reliable vape factory appropriate for you. Secondly, a physical investigation for the vape factory will help you know the actual situations and explore more information. Last but not least, the quality control processes should be paid more attention to ensure the vape products quality.
Supply chain management and quality control
There are many components for vape products and few steps to turn creative ideas into real products. A scientific supply chain management should be established for consistent supply, reducing cycle and lead times to improve on-time delivery, reducing cost, and control product quality. Effective supply chain management can also help you identify and resolve problems during the processes.
Quality control and test system should be established for vape factory to ensure the vape product quality to prevent customers receive products with defects and tailored to their specific needs and requirements. If there is no quality control, it will ruin your vape brand’s reputation.
KEYSTONE, a group of passionate and devoted professionals with more than 10 years experience, providing innovative and pioneering vaping solutions. KEYSTONE is a vape factory providing ODM and OEM vape services for top vape brands, cooperating with many first-line e-cigarette brands. Come to us if you need any creative vape solution.