The therapeutics and health benefits of CBD, short for cannabidiol, are bringing it to the spotlight. There is now a huge variety of CBD products in the market, from topicals and tinctures to infused edibles. However, the discovery is not quite new. The oldest validation of the benefits of CBD is found in a famous book, The Great Herbal, by the father of traditional Chinese medicine and emperor then, Shen Nung.
He described the healing potential of CBD for rheumatism, absentmindedness, and various other problems. Fast-forward to the 21st century, the demand for CBD wholesale and products is increasing, leading to the establishment of new businesses. If you plan on starting one too, here is all you need to know to get your CBD brand.
How to Start a CBD Business
There are many considerations, especially legal ones, you need to make before setting on the journey to establish your own CBD brand. Below is your comprehensive guide on how to start it.
Identify Your CBD Niche
You can sell more than one CBD product but the key is to stick to a specific niche, especially in the start, to attract customers and grow your business in a specific market. The main CBD niches include:
● Skincare Products
● Wellness Supplements
● Pet Products
Each of these has its challenges like market saturation, lack of awareness, and tough regulations. However, you can gauge these challenges to standout in the market by fulfilling a market gap. To identify your niche, you can study different CBD brands to know what they are doing. If you find any market value in the missing aspects, you can easily go for it without worrying about market saturation.
Understanding the Legal Status of CBD Products
If you are planning to launch a CBD business, it is crucial to understand its legal status in your country to ensure compliance. Moreover, you also need to know that CBD is extracted from the hemp plant which has less than 0.2% THC making it legal to sell in most countries. It is opposite to illegal Marijuana which has way more than 0.2% THC. Here is what you need to do.
● Verify that the THC level in your products is less than its threshold to ensure its non-psychoactive status.
● After in-house testing, go for the verification in independent testing facilities for the quality assurance of your systems and maintaining transparency.
● Use the non-psychoactive and safe status of your products as the main selling point as it’s what customers are more concerned about.
Obtain the License to Sell Your Products
The next step is to obtain a license from the regulatory bodies in your country to sell CBD products. The main body can differ based on what kind of product you are selling. For instance, if you are selling any food supplements as CBD products, you may need to get them approved by the appropriate government agency in your country. Here are the common steps for each application.
● Search for the application process on the official sites and prepare the required documents.
● File your application with accurate information about your product including its sourcing, composition, intended use, and safety claims.
● Cooperate with the legal experts to ensure that your application is complete and maintains the standards to obtain the license.
Choose Your Supplier
The in-house making of CBD products is completely your choice. If you are well-equipped for it, you can definitely go for it to get more profits. However, in either case, you need a CBD wholesale supplier to get your raw material. Here are some important considerations for choosing the right vendor.
● Check the source of CBD for each vendor. Make sure it is a hemp plant.
● Buying CBD from farmers can be cheap but the testing of THC level in the product can be expensive, especially in cases when both of you do not have an in-house testing facility.
● Prefer reputable wholesalers as they can provide you with a certificate of analysis (COA) with the accurate values for the CBD content, including THC.
Final Words
The above steps are crucial for starting a successful CBD business. Once you have legal permits for the chosen products and a reputable vendor, you can start making your finished products and selling them on your preferred platforms. Nevertheless, you are still going to need the right marketing strategies to highlight your products in the competitive markets.
