Thanks to the US Farm Bill in 2018 that legalized industrial hemp, CBD is becoming a household item that many individuals are choosing to consume. Since the legalization of industrial hemp, there has been an influx of CBD products that have flooded the market, promising one benefit or another. With the growing popularity of CBD, it’s no wonder that many people are choosing to get in on the action. Some people are looking for ways to capitalize on the sale of CBD, while others are looking to increase their existing customer base. With the growing popularity, people are always in search of the best way to capitalize on this ever-increasing market.
To start an online CBD business, there are a number of things you must consider before jumping into this highly saturated market.
Obtain the proper licensing.
Before you jump right into selling CBD products, you must have the proper paperwork to ensure you’re able to legally sell this product online. The first thing you’ll need is a regular business license. The average cost for this type of licensing is approximately $100. After you’ve obtained your regular business license, it is important to get a resale license. If you plan to purchase your products at wholesale, you will need a resale license that can be attained at the state level. It is recommended you do extensive research on licensing and permit requirements as each state has its own requirements. If you plan to become an affiliate of an existing CBD company, you are allowed to operate under their licensing and permits.
Determine what products you want to sell.
Due to the influx of CBD products to the market, there are a number of ways an individual can choose to sell online. CBD products come in a variety of forms that include:
- CBD oils
- CBD isolates
- CBD tinctures
- CBD flowers and buds
- CBD joints
- CBD vapes
- CBD edibles
- CBD pet treats
As you can see, there’s no shortage of CBD products. The only challenge is choosing which product you want to sell. If you are an affiliate of a company, some of them sell all of these products. Other companies focus solely on CBD tinctures or vapes. Find out which product best suits your goals and begin to sell, sell, sell.
Find the right supplier.
As mentioned earlier, CBD can be sold in a variety of forms. Finding the right supplier is essential to the success of your business. It is a useless endeavor to forge a business relationship with a supplier who only sells CBD isolates when your target market is for individuals who like CBD edibles. The product you choose to sell online will determine several factors. It will determine who your target audience is and what your marketing techniques will be to reach that target audience. It will also be a huge determining factor in how you choose to design your online store. If you are choosing to sell CBD flowers or buds, you want to make your marketing relevant to individuals who are interested in CBD flowers or buds. Marketing to individuals who are interested in CBD vapes Is not a wise use of your marketing efforts or dollars.
Create your website.
Now that you have your licensing, determined what product you want to sell, and chosen the right supplier to meet your needs, it is time to build a website around your target audience. There are a couple of questions that you need to be concerned with when developing your website, and they include:
- Are you going to hire a web design company?
- Do you plan to design the website yourself?
- Do you have a reliable online payment processor that works with CBD businesses?
- Will you be selling CBD products through an affiliate website?
These are some of the questions to consider when building your website. If you have the money to hire a web design company, it is best to consult with the professionals to come up with the best solution. If you plan to design the website yourself, it is important to consider all of the details that go into the website layout. If you are selling CBD products as an affiliate, all of this leg work is taken care of for you. You will already have your website design or a template to easily create your website design. Your payment processor will already be tried, true, and tested as a CBD friendly payment processor.
Driving traffic to your online CBD store.
Internet traffic is the life’s blood of an online business. Without it, you don’t have customers, business, or revenue. Unfortunately, customers will not be flooding your website just because you go live. You have to tell customers that you are present and ready for business. One of the most popular ways to drive traffic to your online CBD store is through search engine optimization or SEO. This allows you to get ranked on search engines such as Google. Another way to drive traffic is through a blog. With the use of keywords, you’re able to drive traffic to your online business. The key to blogs is to make sure your content is updated regularly. Once you’ve attracted customers to your site, it is important to entice them to buy. This is where promotions and coupons come in handy.
Shipping and fulfillment.
Now that you’ve laid the groundwork and have everything in place, you have to figure out how you’re going to get the products to your customers. If you plan to direct ship, you’ll need a warehousing, inventory, and fulfillment process in place. Logistics and shipping is a huge part of selling online. Partnering with a fulfillment company will save you time and help you focus on building your existing base and building your new customer business. For individuals who are selling through affiliate programs, the shipping and fulfillment system is already in place.
With every challenge, there are a multitude of benefits. As an online CBD seller, you have to determine how to maximize the benefits and mitigate the risks associated with online selling. Once you’ve mastered this technique, you’re able to build an online CBD business that is sure to be successful in the long run.