Let’s face it: CBD is growing in popularity by the day. You can find it almost everywhere you look these days, from coffee shops and pharmacies to high streets and health stores.
As per experts, CBD will gain even more acceptance in the coming years. They predict that the CBD market in the US will surpass a jaw-dropping $20 billion by 2024– the more reason to start an online CBD business if you don’t have one already.
Managing this type of enterprise might seem challenging if you’re new to it, but it’s surprisingly manageable once you understand what to do. Perhaps you’re wondering about the legality of wholesale CBD flower in USA. Keep reading for more information.
A Look at CBD
CBD (cannabidiol) is among the over a hundred compounds (cannabinoids) in cannabis. Some people think it’s toxic because of this. Well, here’s the good part: It’s non-psychoactive, meaning it won’t get you ‘high.’
THC (delta-9 tetrahydrocannabinol)- the prominent psychoactive cannabinoid in cannabis- is responsible for that. You can obtain cannabidiol from hemp and marijuana plants.
Is It Legal?
This is the first question people often ask when they hear about CBD. The answer is it depends on the state/country you live in. Some regions consider it entirely legal, while others have strict laws against it.
It’s legal to sell CBD on a federal level in the US as long as you’ve obtained it from hemp. It should contain at least 0.3% THC. Your product is legally known as marijuana if it has more than this percentage, and selling such will get you in trouble.
You should handle selling cannabidiol online carefully despite the clear instructions. Check your state/country’s laws and regulations surrounding this issue. Some states demand that CBD contains zero delta-9 tetrahydrocannabinol.
Crucial Things to Know Before You Start Selling Cannabidiol Online
There are several points you should always bear in mind before you start selling CBD online:
- You shouldn’t sell CBD edibles in the US. These yummy treats may be legal in the Netherlands and the UK, but they’re a no-no in the US. This is because the FDA has forbidden adding cannabidiol to beverages and food.
- Don’t make any medical claims about cannabidiol- unless you’ve got some scientific proof to support your claims.
What You Should Learn About Selling CBD Online
Here are some simple steps to help you sell cannabidiol online like a pro in no time:
Educate Yourself About CBD
The first step is undoubtedly educating yourself about cannabidiol. Learn everything you can about it, from its effects and benefits to using it. It’s best to become an expert on the subject before setting up your online store.
Your customers will ask various questions related to cannabidiol, and you should know the answers to all of them. Not knowing what you’re talking about will make you look unprofessional.
Set Up Your Website
Now that you’re well-informed about CBD, it’s time to set up your eCommerce platform. Make sure your site is user-friendly and straightforward to navigate. Customers should be able to find what they’re looking for quickly and without any difficulty.
Your website should also be visually appealing. Use high-quality images and videos to help your customers understand your products better.
Get a CBD Merchant Account
You’ll need a merchant account to sell cannabidiol online. A merchant account is a bank account that allows businesses to accept credit/debit card payments.
Getting a merchant account for your CBD business might be tricky as most banks are hesitant to work with CBD companies. This is because they see it as a high-risk industry.
You can increase your chances of getting approved by choosing the right bank and providing all the necessary documentation. You should also have a well-established business with a good credit history.
Choose the Right CBD Products
Various types of CBD products are available, such as oils, tinctures, capsules, edibles, topicals, etc. It’s up to you to pick the ones you’d like to sell on your website. You might be wondering if all your effort will go to waste in the long run. There’s evidence to prove that it won’t.
The US cannabidiol market witnessed a growth of 562% from 2018 to 2019. And that’s not all: At least fourteen percent of Americans admit to using CBD- mainly for treating pain.
Select a Dependable Cannabidiol Supplier
Choose your products from a reputable supplier. The quality of your products will significantly impact your business, from customer trust to your products’ legality. CBD’s promising potential has increased suppliers providing it, many of whom sell low-quality products.
Promote Your Business
Now that you’ve set up everything, it’s time to promote your online store. Use social media, content marketing, and SEO to reach a wider audience. You can also participate in trade shows and events related to the CBD industry. This is a great way to network with other businesses and make your brand known.
Conclusion
Selling cannabidiol online can be a lucrative business venture. However, you need to ensure you’re well-informed about the compound and its legalities.
You should also believe in yourself, be consistent, and have a solid business plan to steer your establishment forward. Following the tips above will help you get started on the right foot.
