Let me know which vendor is able to do a run for $0.01/ML complete. I'd love to speak with them

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Let's do a quick price breakdown for DIY. We have PG, VG, Nicotine, Flavoring and Bottles. We can all get those easily from various vendors on the market. WizardLabs, Flavor West, Essential Depot etc. I'll use all 3 of those vendors in this example because Wizard Labs has some of the cheapest quality Nicotine backed by a lab, Flavor West isn't bad for flavors and ED has the cheapest pricing on PG/VG I've see at $54 for a gallon of each, shipped for free via UPS.
PG/VG - $55 for 2 Gallons (one of each from Essential Depot)
Nicotine - $56.99/500ml of 100mg/ml (from Wizard Labs)
Flavoring - $143.00/Gallon (Skittles Type from FlavorWest)
30ml Bottles - $0.55/each (from Wizard Labs)
PG/VG = $0.01 per ML
Nicotine = $0.11 per ML
Flavoring = $0.037 per ML
We'll use 15mg and 50/50 as our base. Using eJMU calculator, we need 4.5ml of Nicotine, 8.25ml PG, 12.75ml VG and 4.5ml Flavoring at a 15% mix. The cost for this, using the exact numbers below (with pricing pulled from the vendors sites as of this post) comes to $0.96 for that 30ml without the bottle. Add the bottle cost, now the completed product is $1.51 to me, the average DIY'er.
If we throw a label on there, we can add $0.10 to that and make it $1.61 (this based off pricing I know is valid from a run of 1,000 per roll).
Now, being generous to start-ups, let's say they can do a run at 50% of those costs, or $0.75, if the mark-up was 10,000%, as you said, the cost to me, the average consumer would be $75 per 30ml.
Five Pawns is $27.50/30ml on their non Castle Long Reserve juices (I think it's $37 when they have it), which is on the high-end of the spectrum of
juice prices. If they make it for $0.75, represents 36x cost, without factoring in shipping, business/production costs, or any thing else for that matter. We're just looking at the cost of the
juice itself, if they were to use Skittles only from Flavor West.
Not trying to be a smart-a**, but I am being realistic. Most DIY'ers go based off of small vials of flavoring or maybe an ounce (30ml), not the volumes that a business would need to handle orders.
As a business owner also unrelated to vaping,
1) I have for pursuits not related to vaping. Other than reusing that doesn't hold water because you get much better prices buying in bulk so for those that have bought, they paid a lot more than a business did.
2) No and from what I've seen very few businesses actually have custom flavors made for them and even fewer make their own.
3) Not for vaping, but I know from owning a business that most businesses are able to manage paying for overhead with 100% markup and others with perishable or seasonal goods manage with about a 250% markup. Explain why e-liquid needs a <10,000% markup from manufacturer to consumer when everyone else runs businesses on much less.
4) I have 5 years worth. I really don't see what the difference would be. If anything DIY has more problems with storage in living quarters than a business set up to do so would.
5) Yes, and I'm working on it. One I hit right off the bat. Another took a little tweaking. Another has taken months. From what I've seen a lot of the vendors don't, they have single flavor mixes.
Like I said, I can come up with a lot of reasons for reasonable markups to run a business. I can find no excuse for going from less than 1¢/ml manufacturing to 100¢/ml at the retail store. Especially not when you consider most liquids go direct from mixer to the retail store.
I could say niche market except that pricing helps keep it a niche market.
As far as "worry" as an excuse, if you can't handle the pressures of being in business get out of business. Original investment costs is a valid excuse, the pressures of running a business is not.
I don't have to worry about the price of my DIY because it's $300/5 years to make it vs $600/1 year to buy it.
A better guess than your worrying about the cost to a T is they have it marked up so much because they didn't want to figure it out to a T. They take an obvious profitable stab in the dark so they don't have to figure out how much it cost per ml per minute to turn on a lightbulb. I have some things priced like that, I don't need to know how much material or time goes into it because it's a competitive price, it sounds good to the customer and I know I'm making a ton on it. Other things I have figured out to a T to make sure I wasn't losing money at competitive pricing.