Cannabidiol, otherwise known as CBD, is rapidly becoming a household name owing to its therapeutic and health benefits. It is one of the compounds found in cannabis and hemp plants and has entered the market in the form of oils, tinctures, topicals, infused edibles, concentrates, and more. Unlike cannabis, CBD does not give an intoxicating effect associated with THC but instead offers therapeutic and health benefits.
As people continue to discover the therapeutic benefits of CBD, consumer interest in the product has increased steadily since 2016. Here is a guide on how to start a CBD business from scratch.
Determine your CBD niche and products
As earlier mentioned, CBD now comes in the form of many products, and since the consumer interest is high, CBD companies are trying to capitalize on the hype. So, you have a wide range of CBD wholesale products to consider selling, including:
- CBD edibles.
- Sublingual tinctures.
- Value concentrates.
- CBD capsules and pills.
- CBD topicals.
- CBD pet products.
The product type differs depending on the consumption method. Note that CBD is not only for humans, but animals also experience a calming effect from CBD products when given in small doses. There are CBD products for pets such as dogs and cats.
Research the legal obligations on CBD
There are legal obligations you must meet before you become a CBD seller. Some of them include:
- CBD products shouldn’t contain more than 0.3% of THC. Note that any product with more than 0.3% THC is considered a cannabis plant, and therefore stricter regulations kick in.
- CBD derived from cannabis plants is legal in 36 states for medicinal use and in 15 states for recreational use.
If you are considering selling cannabinoids as a substance, the regulations may differ. There is only one FDA-approved CBD prescription drug known as Epidiolex. The FDA also prohibits adding CBD in food or marketing any edibles with CBD as supplements. The FDA is still developing regulations around CBD so ensure you do your background research thoroughly.
Market and sell your CBD products
Come up with a marketing plan to grow your CBD sale brand to acquire customers and achieve repeat purchases. The CBD industry is different from other industries and thus CBD marketing can be tricky. Paid ads for CBD products risk bans or account suspensions. So you have to be creative.
Establish a CBD eCommerce website and focus on growing your brand’s visibility through organic traffic. Organic search and customer loyalty programs are better CBD marketing methods than paid ads. Also, do your homework to understand local and state laws surrounding CBD marketing.
Find a reliable CBD products supplier.
The most important thing in running a CBD business is finding a reliable CBD wholesale program like this one in Colorado. A reputable CBD wholesaler carries out lab testing and can provide you with certificates of analysis detailing the components of the CBD products. Evaluate a potential wholesaler before working with them to ensure you are on the right side of the law.
Gain a competitive advantage
The secret to having a competitive edge in the CBD industry is to provide high-quality products. A CBD wholesale program like this one in Oklahoma that offers third-party testing to validate your CBD products can help you get quality CBD products to gain that competitive advantage in the industry.