The CBD industry is the fastest growing market segment in the world with the growth expected to explode 700% by 2020. Who wouldn’t wanna piece of that pie? If you’re wondering to join this fast pace business but don’t know where to start? We can help you get started by guiding you few ways to start a CBD oil business. (CBD oil Ireland)
What is CBD?
CBD is a non-psychoactive compound derives from the hemp plant. More than ever, people are moving towards natural solutions. Through multiple news outlets, social media, word-of-mouth, and most importantly, first-hand experiences, the strong effects of this product are spreading, making it one of the most talked about and fast growing products in natural food and health area.
The world is generally now shifting to more of a health-conscious state of mind, which is why CBD oil is making such a boom beyond being just a trend anymore. People are actually seeking out CBD as an alternative and using it to help people’s lives. That means the culture is changing, people are looking for natural products. CBD is that.
Marijuana vs Hemp
Marijuana is abundant in THC. THC is the compound that makes you high whereas CBD is a compound derived from hemp. They both are the parts of the cannabis family, but the basic difference between the two is high volume of THC, which is a psychoactive compound that gets people high, whereas hemp has essentially no psychoactive compounds to it.
CBD Business Opportunity
Whether you’re interested in the CBD industry or you just use CBD yourself, let me tell you now is a fantastic time and opportunity to enter the market and start your own online CBD business. Starting a CBD business requires the same effort and hard work as required in launching any other company but when you consider running it online, much of the burden on you at the start is lowered. It’s perhaps the easiest way selling CBD online to market the popular product.
People don’t feel hesitate to pay for CBD. In the US, sales of hemp and CBD oil products have crossed $238 million in 2019 – that’s a huge increase from the previous year. While CBD users tend to buy CBD more often from brick-and-mortar stores, the ease of shopping online will surely gonna increase the popularity of CBD ecommerce in the next years.
CBD oil Wholesale
Now that you’ve understood it’s a high time to invest in a CBD market, and you’ve decided to start an online CBD store, the first thing that will come into your mind is that which is the best way to increase your sales? Selling CBD in wholesale or selling it in retail? Let me tell you the best way to increase your online CBD business is to sell it in wholesale.
Become a CBD wholesaler, this way you’ll be dealing with bulk orders. There are abundant opportunities for CBD distributors, which means you will not limited to just CBD oils. Working as a wholesaler you have variety of options to choose from. Oils, sprays, supplements, topical balms, capsules and a whole lot more CBD products are there you can choose any specific type of CBD product you wish to sell.
The CBD wholesaler does not focus on getting the product ready for the customers; it’s the job of growers and suppliers. The CBD oil wholesaler just focuses on selling the CBD product to various outlets and retailers for onward sale. Wholesalers can avoid costs and time associated with product preparation. Wholesalers simply sell CBD products in bulk at a lower unit price to retailers.
Improve Your Online CBD Business
After the industrial hemp production is legalized across the US by the 2018 Farm Bill, people became more curious about how to get into this business. The hemp-derived CBD must not contain more than 0.3% psychoactive cannabinoid THC, as mentioned under the Farm Bill. Keeping this in mind, you further have to check few more things to carry a good wholesale business.
Consider a supplier that manufactures high-quality and uncontaminated hemp-derived CBD because only quality suppliers get their inputs from growers that cultivate hemp according to the highest cultivation standards. More consumers will move to you when they found your product is chemical free.
Make sure your supplier is legally licensed to manufacture and sell CBD products because if they found unlawful your whole CBD business will be at risk. Make big plans that penetrate the CBD oil Ireland wholesale market because you’re standing out among the ocean of CBD wholesalers so you must prove it.
The CBD business has unparalleled growth opportunity. A combination of creativity and diligence will help you reach the success in the CBD industry. There’s major momentum at this point so be a quality CBD wholesaler if you want to see yourself among the best CBD wholesalers in the industry.