A Chairman of A Vaping Industry, Martin Sumichrast, spoke with Time Warner Cable News Charlotte regarding the vaping industry, technology and continued growth despite the FDA's recent announcement of new regulations.
The FDA reports that they will require new warnings for nicotine and registrations for blending nicotine juice. "We anticipated the strict FDA vape regs and built the franchise business with this possibility in mind," said Sumichrast. "The standard business procedures have always included prohibiting sales to minors and child safety caps. We are confident that our products will stand up to regulatory and legal scrutiny and have every intention of working with FDA, as well as the federal legislative and judicial branches, to maintain the products on the market in compliance with federal and state law."
One retailer said the regulations may cut the number of flavors they can offer customers, but Martin Sumichrast sees the changes in a more positive light, saying that it's a way to bring consolidation to the industry. To spearhead new trends for healthy vaping, more than 20% of the e-juice sales are nicotine free, and they've rolled out their "Race to Zero" initiative to encourage vapors to replace nicotine with other healthy vaping alternatives.
As Wells Fargo forecasts vaping to expand to $10 Billion by 2017, Sumichrast is confident that the industry will easily push through regulatory impositions. Especially since it was founded by a team of entrepreneurs and principals who have over 20 years of taking start-ups to profitability. The company views regulatory challenges as part of the expansion process for a new business in a virtually new industry.
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