CBD has been a consumer-focused product and less of a thing to build a business on. Well, that changes today, as we present to you ways to sell your CBD wholesale in a way that prevents it from keeping dust in your storage room.
According to this report, CBD sales have catapulted itself through the billion-dollar mark just last year. Analysts and companies have projected its rise to $20 billion sales by 2023, and that’s just the US alone! Professionals have seen this potential in making this product into a business, so why shouldn’t you take part in its bright future?
Other than its rapid climb to success in the market, CBD is also popularly known as a potent analgesic for humans and animals alike! Many studies (most of them outside of the US) are dedicated to showing how CBD can help common pains and aches, like arthritis, muscle sprains, migraines, and even external wounds.
At some point, CBD was also found to help boost the immune system greatly, which is a great need in this time of sickness and pandemic. With such a versatile rising star as your product, your business will surely boom—given you follow the proper steps first.
But First, Know Your Product
If you aren’t a user of CBD (or if you have, but your knowledge is scarce), then it is important for you to familiarize yourself with what you’re selling. CBD is a short term for Cannabidiol, and this is a compound found in all cannabis species.
The main plant that cannabidiol-companies source, however, is hemp. Hemp is a species that has almost 60% cannabidiol count, and the rest would be the 112 other cannabinoids present. Compared to a famous example like marijuana, it has a larger cannabidiol count and the most important compound needed for the formula.
Hemp has been a legal, schedule 5 substance since 2018 when the Farm Bill was passed. Since then, there have been acres and acres of hemp farms all over the US, but most abundant in Colorado. Companies that source locally, such as Cheefbotanicals, are aware of the strict policy in growing these hemps. This assures their client base of a greater quality of cannabidiol in their products.
Hemp sourced overseas—mainly from Europe and China— have been found to have traces of contaminants in them. These bits and pieces of heavy metal and pesticide make the overall quality of CBD products plunge, and put many customers prone to health risks that entail having these contaminants.
The reason marijuana isn’t the main star of this show is two things: legality and preference. As a retailer of CBD, it is important to stress that marijuana is not the same as CBD (not biologically) and that marijuana isn’t the source of your CBD products. Marijuana is a schedule 1 substance, the highest restriction the FDA can impose, and that means it’s illegal in some parts of the US. The reason for this is the compound THC—or also known as Tetrahydrocannabinol. This compound is responsible for stimulating the nervous system and getting the user “high”.
Ways To Sell Cannabidiol Products Effectively
Maintaining the <0.3% THC is, as companies that don’t adhere to the margin can be potentially a scam and be shut down. According to the FDA (linked here: www.fda.gov/news-events/public-health-focus/fda-regulation-cannabis-and-cannabis-derived-products-including-cannabidiol-cbd), anything over that number will result in your product being illegal to use and sell. You don’t want to invest your money in a scam company, much less get into messy legal, do you?
1. Have Full-Spectrum CBD
Full-spectrum assures your products have terpenes, cannabinoids other than cannabidiol, and other healthy minerals. This just means your product will be high-quality and effective which you’ll be proud of presenting to friends and family without the fear of it being a dud.
2. Be Ready To Use All Modes Of Delivery
To be an effective retailer, especially in this day and age, delivery via shipping, meeting up, and other possible forms should be tackled with an open mind. You’re not having a physical store, so it makes sense to be available to sell online and in person. But that’s not all! Customers’ check out rate increases the moment they find out about your fast delivery service and free shipping, so make sure you avail those when you start selling your CBD!