Testing the Hypothesis, Part 1

1.    Opportunity – Flavored vapes being banned in the US

2.    “Health insurance companies in the United States are unable to easily identify who vapes and if someone owns a vape, making it difficult for them to adjust their policies accordingly. 

The Who: Health Insurance Companies

The What: They are unable to easily identify who vapes and if someone owns a vape

The Why: No existing registry that identifies people when they buy a vape

3.    “We help young Americans stop vaping so they can receive a discount on their health insurance policy.”

·     Testing the who:Aside from those who vape, parents of children who vape also have the need. If they can receive a cost reduction and get rid of their kid’s vaping addiction all at once, I have little doubt they’d be on board.

·     Testing the what:Identifying who vapes is a challenge because vapes are not tracked when they are sold to someone. Also, even if they were, the reselling of vapes from older to younger people is what has caused this epidemic in the first place. By getting people to turn them in, you would have a good understanding of who vapes and be able to keep that information handy if the ban is ever lifted.

·     Testing the why:The why I have identified is beneficial for the health insurance companies. However, a new why is available if I take the vapes and sell them to people who need them, the cigarette users. Also, another why is involved if the vapes can be repurposed.  

4.    Based on the feedback I received, many college-aged kids who Juul would be open to turning in their vape if it meant they were given a discount on their health insurance. Of course, there are still the people who do not want to give up their vape and will continue to do so, regardless of benefits. I couldn’t find any ideas on how to convert these people when I spoke with one, however I believe an answer is out there. With the ban already in place, some kids have begun throwing away their Juuls and vapes. Some liked the idea that they could receive something in return for kicking their bad habit to the curb. An idea that was brought up that I did not think of is, once I collect the Juuls from people, sell them to the cigarette smokers that actually need them. Or, as another person brought up that I mentioned earlier, find a way to repurpose the Juul or vape and sell a brand new product. This would open up an entirely new market for me, all while getting my parts for free from those who want to give up vaping. People seem to be more willing to get rid of their vapes due to the ban on flavored vapes that was just imposed, so as of right now the timing seems right. 

5.    One thing I know about this opportunity that I didn’t know before is that, as more and more people are facing health-risks from vaping, the more scared the vaping community has become. People are frightened by what the long-term effects of vaping could be, giving me even more of a reason to find a way to make money off getting a vape out of their hands.