Before starting your business, it is important to make sure that you comply with the rules and regulations that apply to CBD processing. The CBD products that are extracted from hemp are entirely legal, as long as they derive from industrial hemp.
Moreover, the THC levels must be lower than 0.3%, which is considered the legal threshold. If they are lower than this value, then supplements, creams, and oils are both legal and safe to sell.
On the other hand, CBD that is extracted from marijuana cannot be sold, because it has THC levels from 15% to 40%.
Robust Business Plan
Naturally, a business plan is one of the first things that you must take care of. It will showcase how you want to develop your business, manage your finances, and implement new strategies that, in time, will help you achieve some of your goals.
When creating a business plan, you should consider and include the following information:
- Sales Forecasts
- Financing Methods
- Customer and Market Analysis
- Marketing Plan
- Strategy and Implementation
- Products and Services
Finding Reliable Suppliers
It doesn’t matter if you want to create, distribute, or resell CBD products, you will still have to look for a CBD supplier. Obviously, a reputable one is recommended, as it will not only provide you and your customers with quality products, but will also ensure that the CBD-extracting process is safe and legal.
When selecting a supplier, make sure to check the following:
- Extraction Method
- Certificate of Analysis (COA)
Obviously, the reputation and revenue of your brand are directly influenced by the website of your business. Without a fully-functional website, your potential customers will leave before they even take a look at the products that you have in store.
In this respect, it is recommended that you look for someone experienced in CBD web design, who can build you a website that shows exactly what you do and how good you are at it. Naturally, the website must also be rich in content, pleasing from an aesthetic point of view, easy to navigate, and mobile-friendly.
Marketing Your Business
After you deal with all of the above, it’s time to move on to marketing your business! For this, you can use SEO, display ads, and make sure that you provide your customers with amazing customer service.
Even though it can be a bit difficult to qualify for a merchant account as a CBD wholesaler or retailer, there are some services out there that can set you up in as little as five business days.
The Bottom Line
Basically, getting started online as a CBD business is not that hard. You must apply the same steps that you would apply when starting a conventional type of business. However, you must be certain that your products comply with the rules and regulations in your state, and that your online presence is powerful. Keep in mind that an online business is based on content, activity, and interaction with customers!