The global CBD market will likely grow by over 30% in the next few years, according to recent studies.
Unless you can time-travel back two or three years, now is the best time to start selling CBD.
Whether you plan to be a grower, seller, or distributor, you should know the ins-and-outs of running a successful CBD business.
Below we will guide you through the initial steps of “growing” your business without any hiccups.
Researching Guidelines for Growing
Above all, you need to know that your product contains less than 0.3% THC. THC is the psychoactive component that gets people high, while CBD is the part you can sell legally in all 50 states.
Be sure that your product is tested for quality. You don’t want a product with other questionable ingredients or deceiving labeling. Make it easy for your buyer to know exactly what they are getting- otherwise, you will have trouble creating a trustworthy CBD business.
Check Federal and State Laws Before Selling CBD
Labels are a major problem for many disgruntled buyers. With so many misleading products on the market, repeat sales are hard to come by.
Once you know you have a quality product, check the extraction process and dosage. Both need to be consistent with your product to hold up. Repeat buyers will notice if one dose or batch of CBD has a stronger effect than another, you could have a lawsuit or recall on your hands.
Lastly, know your state laws before selling in person or online.
You don’t want your buyers to jump through a bunch of hoops to get your product, but you also don’t want to blur lines legally-speaking. If your product comes from the cannabis strain, you could easily break federal law even if your CBD product has no THC in it.
Choosing Your Product
Now that the CBD franchise has expanded, there are more ways to sell CBD than there were a few years ago.
You can sell CBD as a tincture, supplement, salve, any form that safe and straightforward. Oils are a classic form to sell CBD in. You can combine ingredients for heightened effect. You can change the flavor to suit the occasion. People like how precise the dose is, as well.
You can even sell CBD in lip balms or as a snack! A popular secondary ingredient is coconut oil. Coconut oil mixes well chemically with CBD and is safe to apply topically or ingest. It also adds natural moisture and flavor.
Gummies are making their way to the forefront. Gummies easily hold a lot (or a little) CBD and come in a familiar, inviting form.
There are several ways to start your CBD oil business- you can take advantage of wholesale distribution, CBD affiliate marketing, or sell independently.
Wholesale distribution is a great choice if your strength is in marketing.
You simply buy in bulk with the projected number of sales in mind. You then sell at a higher price (but still reasonable) for a profit.
The key to starting a CBD business is finding a reputable product that is less expensive in bulk. Once you build a relationship with the grower and familiarize yourself with the product, you can establish your selling strategy and figure out good manufacturing practices.
The Bottom Line
If you have expertise in sales and have set your sights on selling CBD, it’s time to make moves.
Our above tips will help you turn your dream into a reality, one step at a time.
For more on CBD business opportunities on a global scale, sign up for our field guide. The grass is greener with us!
June Potter wrote this article on behalf of FreeUp. FreeUp is the fastest-growing freelance marketplace in the US. FreeUp only accepts the top 1% of freelance applicants. Click here to get access to the top freelancers in the world.
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