Over the next few years, the CBD industry is set to reach a whopping $16 billion in revenue.
However, if you’re thinking that you’re just going to open up a CBD shop and get rich, think again. You need to not only source the finest CBD products but make sure that you are branding and marketing them in a way that is useful.
When you are building a CBD startup from scratch, there are some keys that you’ll want to keep in mind.
Take advantage of your CBD business opportunities by using the tips below.
1. Know Your “Why” and Your Audience
Right now, people are beginning to truly understand the benefits of CBD, and how it can truly boost their wellness and health.
Since these benefits are so plentiful, it’s important that you look into the specific ones that you want to take advantage of. Rather than trying to offer everything to everyone, pinpoint the exact customers that you want to help.
Now is the time to figure out why you’d like to start your company. For instance, if you have had chronic knee pain for years that you were able to heal with CBD, you’d want to push the pain-relief benefits.
If you are a pregnant woman that uses CBD as opposed to harsher anti-anxiety medicines that can affect your baby, this is the time of information you’ll want to push to engage your audience.
When you know your “why”, this dictates how you build your company and the type of CBD products that you begin looking into.
2. Make Sure That the CBD Is Pure and High Quality
It’s crucial that you only offer high-quality, pure CBD to your consumers. This is important both for the success of your company, and the safety of your customers.
Because of this, you need to do business with suppliers that take every precaution with the products that they create. The last thing you would want is to deal in CBD oil that contains contaminants or impurities that can be damaging.
When you are creating your products, you’ll need to be able to stand by them, and this starts with putting quality first.
3. Look Into the Extraction Method
Though people throw around the term CBD all the time, not all CBD is alike.
For instance, some companies extract CBD from cannabis, while others extract it from hemp. It’s important to know how yours is extracted, both so that you can pass the right information along to your consumer, and to make sure that you are aware of the legal ramifications.
In terms of the methods, CBD is often extracted with processes like winterization, short path distillation, and through the use of alcohol. Familiarize yourself with the process before dealing any CBD products.
4. Choose Products That Have Great Variety and Easy Use
Make sure to give your consumers plenty of variety.
In addition to CBD vape pens, you can deal anything from CBD tea or brownies, to lotions, creams, pills, and even beer. Each type of CBD has different pros and cons, so the more options your store has, the better.
5. Test Out the Products For Yourself
You can’t truly vouch for CBD products unless you’ve tried them yourself.
It’s easier to pass the good word along when you have personal experience with them. This will also let you answer specific questions about how to use the CBD, and can inform you on which products you’d prefer to have in your store.
For instance, there are a variety of great CBD extracts that you can specialize in. When you try them out yourself, you’ll know that your consumers are getting nothing but the finest quality from you.
Many suppliers will be willing to give you some samples so that you can make informed decisions.
6. Be Mindful of Labeling and Safety
Since CBD is a health product that people need to feel safe ingesting, you’ll need to have labels and safety mechanisms in place. For instance, you’ll need to include primary information such as the CBD and THC content, weight and fluid measurements, and type of CBD.
Additionally, you’ll need to include any information relative to your state or other locality, and any compliance or warnings that they require. It’s also important to include specific instructions so that your consumers feel comfortable using the products.
In some cases, you will need to include child-proof mechanisms and other safeguards so that you are keeping your consumer as safe as possible.
7. Market Your Products to Capture Your Audience
Acquiring the best products is one thing, but you’ll need to take it a step further and build your CBD brand.
In this regard, you should take the time to market your products in a way that lets people know exactly who you are and what you have to offer. In this regard, you will be able to reach people and create marketing plans that count.
8. Source the CBD From Quality Professionals
Anytime you are creating a CBD startup, you’ll need to forge relationships with professionals that have the best products, in addition to the best service.
They should have strong relationships in the industry and should be available to you whenever you have questions or concerns. Your business depends on these relationships, so take the time to consult with several suppliers before deciding who to do business with.
Start Your Business with the Best CBD Products
When you’re trying to get into a business that helps and heals people, you can’t go wrong selling CBD products. Take heed to these tips when getting your CBD company off the ground.
If you’re looking for nothing but the best from a great CBD supplier, contact us today.