Are you thinking of starting a CBD business online?
If so, you’re about to enter a seriously booming business. Experts predict the CBD industry value to soar to $20 billion in the next 4 years, with no signs of slowing down anytime soon.
There’s no doubt that you can make money—if you know how to sell CBD. It’s not as simple as setting up an e-store and waiting for business to roll in.
In this post, we’ll reveal 4 expert tips for setting up a successful CBD business. Read on to learn more!
1. Ensure Full Legal Compliance
Perhaps the trickiest part of how to sell CBD is understanding (and complying with) all the regulations.
Although hemp-derived CBD is now legal in all 50 states, federal regulation is still in the works. At present, there’s no FDA regulation for CBD products—but that’s likely to change in the future.
To keep yourself out of legal trouble, avoid touting any health benefits or other sweeping claims in your marketing efforts. You also need to keep a close eye on the laws nationwide and in your local area, as they’re changing rapidly.
2. Source High-Quality Products
With the growing interest in the CBD industry, it’s no surprise that many inferior products are appearing on the market.
To give your new company the best chance of success, start by sourcing only high-quality products. Select a US-based company that grows organic CBD hemp seed and has a good reputation in the industry.
It’s up to you to decide if you’re going to sell isolate, broad-spectrum, or full-spectrum CBD products. You’ll also have to choose between oils, tinctures, topicals, or edibles. If you’re not thoroughly familiar with these terms, it’s time to do some research.
3. Provide Third-Party Testing Results
Since you’re not allowed to make medical claims, you need another way to prove the high quality of your product to potential customers.
The best way to do this is to obtain third-party lab testing results for all your products. Make the results easy to find on your website so buyers won’t have any doubts about authenticity.
4. Create a Solid Marketing Plan
Now that you’ve done your research and sourced great products, your last step is to create your marketing strategy.
What will you do to set your brand apart from the competition? Will you reach your target customer base via social media or email marketing? Is your online store SEO optimized to rank well in search results?
Focus on creating trust and transparency with your branding, and the customers will quickly follow.
How to Sell CBD (& Get Your Slice of the Pie)
Starting a CBD business is not without challenges, but the tips above will set you on the right track.
Source only the highest quality products and ensure you’re in full legal compliance for your locale. Obtain third-party lab testing for your products and make those results available to your customer base.
Finally, develop a strong marketing plan that will set you apart from the rest. Competition is fierce in the CBD industry, but the combination of great products and great marketing will ensure you come out on top.
Did you find this article helpful? Check out this recent post on smart ways to choose the best CBD products for you.
Samantha Gaines 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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