How to identify the best CBD products to buy online
29 November 2020. 4 mins read.
The legalization of CBD has seen an explosion of online businesses and quickly gathered momentum. The CBD industry is expected to grow rapidly in the coming years and based on the current trajectory there’s no doubt that it is going to be a huge success.
More and more people are showing interest in CBD products while sellers are rushing to introduce new products. Be it health stores, pharmacies, or cafes, everyone is excited to stock their shelves with CBD products.
The CBD market is expected to exceed $20 billion in the US alone in the coming four years. So, it is the perfect time to set up a CBD business and become a key player in this growing market. If you are already planning to get in on this CBD revolution, you are at the perfect place.
How to sell CBD online
Establishing CBD brands is not that easy as it comes with a lot of hurdles and challenges, especially a CBD online business. In order to help you set up a CBD business, we have created this extensive guide. You will find information about how to sell CBD products online and how to identify the best CBD products.
Identify the right products
The best part of establishing CBD brands is picking the products that you want to sell on your online store. As a seller, it is crucial for you to understand the types of CBD products and the ways they are consumed. You must be aware which types of products are more appealing to the customers or those that are trending in the industry.
There is a wide range of CBD products including:
- Edible CBD Products
- CBD Tinctures
- CBD Capsules
- CBD Isolate
- CBD Vaporizers
- CBD Creams
- CBD Patches
- CBD for Pets
CBD is included in the manufacturing process for topical items, edible foods, and tinctures for commercial use, and these products are associated with medical treatments for insomnia, muscle pain, skin problems, and chronic pain. These benefits make it popular in health, wellness, beauty, lifestyle, and even in the pet health industries. Targeting the right consumers in these particular industries and finding their interests in certain CBD products can boost your online CBD business.
Pick the right payment technology
The CBD industry has a large number of legal restrictions and is therefore considered high-risk. Because of this, many payment processors have determined a huge chargeback when working with CBD business. Therefore, you will need to work with high-risk payment processors who are willing to accept the additional risks and provide payment processing for online CBD businesses.
In order to find the right payment technology for your business, you need to look for a trusted provider that not only supports CBD transactions but also has experience with other CBD merchants.
Choose the reputable CBD supplier
The next thing to focus on is finding a trusted and reputable CBD distributor for raw materials – if you are not cultivating industrial hemp on your own. No matter if you are creating your own CBD products or reselling, finding the right CBD supplier should be your top priority as it affects the reputation of your CBD brand, quality of your products, and satisfaction of your customers.
When choosing a CBD provider, you need to know everything about their manufacturing process including the source, method of extraction, and amount of THC in their products. This will ensure the quality of your CBD business and the legality of the products that you are going to sell.
Furthermore, the prices of CBD suppliers vary greatly depending on the quality of their products. Usually, expensive CBD products are more potent and pure but not always. You need to know as much as possible about the supplier and the quality of the products to ensure they justify the pricing.
Understanding the legal status of CBD
Before starting a CBD business, you must be aware of the legal status of CBD. Legality is a significant part of the CBD market, and violating the state rules can result in penalties.
There is a lot of confusion around CBD associated with the legalities of buying, selling, and using. However, CBD is federally legal in all 50 states of the US as long as it is derived from industrial hemp and contains less than 0.3% THC. If your CBD products contain more than 0.3% THC, it will be determined as marijuana that is considered to be illegal.
Besides that, you also have to comply with all additional regulations that are specific to your area as different states have different restrictions and regulations around CBD that do not always match up with federal law. So you have to check your local legalization before selling CBD to make sure you are not violating any rules.
Aside from checking your state’s laws, you also need to know two more things. First, you can not make extraordinary medical claims about CBD products regarding its medical benefits because it is not officially approved by the FDA. Hence, you can not make claims about the health and medical benefits of CBD until more is known about its effects.
The other thing to know is that CBD edibles are illegal under US law and the FDA has banned the use of CBD in food and drink. Until this law amends, it is better not to sell CBD edibles if you are based in the US.
Since the demand for CBD is expected to increase greatly in the coming years, this is the most profitable business you can start now. Despite the high-risk industry challenges, entrepreneurs are cultivating, manufacturing and selling CBD to a growing consumer base. This is a promising market for those who are forward thinkers.