3 Ways to Start an Online CBD Business

Now that CBD (with less than 0.3% THC) is legal in all 50 states, the CBD industry is booming. While it finds its footing, now is a better time than ever to get in the game and make the extensive profits.

With regulations still adjusting, the government is getting stricter with manufacturers for the purity of their hemp. It’s important to do your research before trusting anything with a “CBD” label. Find products you trust and can easily sell. There are numerous ways to reap benefits from the industry. Here are three keyways to start an online CBD business (not to be confused with starting a cannabis business).

CBD Wholesale

Consider being a wholesale distributor. Being the middleman between the manufacturers and retailers, you can buy CBD products in bulk at a lower price (up to 50%) directly from the ones who make it. You then make your profit by selling it to businesses that sell it to their retail customers.

Evolution CBD is a manufacturer you can trust. They have earned the reputation of the highest quality CBD products available on the market for years. Their regulated all-natural full-spectrum terpene-rich hemp oil makes products that your clients can depend on consistently. Plus, the purer the hemp oil, the more effective the product is! Evolution CBD also offers CBD wholesale products with zero THC for that audience. They have a CBD Wholesale Buyer Program specifically for people who want to make their way as a distributor. Evolution’s CBD Oil wholesale prices are both affordable and have earned trust across the market.

CBD Dropshipping

Dropshipping is similar to wholesale in the sense that you buy your stock from the manufacturer but then you sell it to individual customers rather than retail businesses. However, there’s a third-party supplier involved. With dropshipping, you don’t have to commit to buying products in bulk. A third-party supplier allows you to buy products as you need them. They also handle the shipping process for you.

For instance, if you have a Shopify store and sell a particular product, instead of shipping it yourself, you contact the supplier and just confirm the transaction. If you’re going this way, you might want to check out 3D Cart’s resource for creating a dropshipping site.  This way you don’t have to buy anything upfront other than what you are getting paid for. As your store grows, your revenue will too.

CBD Affiliate Marketing

Affiliate marketing is when an individual or company advertises a product. When a consumer clicks that link or uses that coupon code to buy it, the affiliate makes a cut. For instance, a popular blogger or influencer who already has an established audience can drive business to that product. They can highlight it by using it or reviewing it on their chosen media. Pop media and networking websites make it easy to incorporate advertisements. Develop an ad campaign and your work is done. You’ll get cash for clicks even after you’re done, giving you flexibility to move onto building other campaigns.

When you’re looking for a starting place to do affiliate marketing with CBD products, you might want to start by checking out Hemp Lively’s CBD affiliate program.  If you are very familiar with CBD products and the inner workings of the industry, affiliate marketing is a great idea for you to pursue. You already have the knowledge and you’re aware of the audience. If a product serves a smaller niche, use that to your advantage and target your campaign to what those audience members need and can get from this product.

These are just three ways to establish a place in the growing CBD industry. Based on your resources and skills, evaluate which method is best for you. Most importantly, do your research about manufacturers and products. Delivering the best products is what will make your work successful.

For the past five years, Janet Romero has watched the growth of the cannabis industry take-off and decided to leave her corporate job in order to become a part of the industry.  Serving companies of all types, she dedicates herself each day to help educate people about the cannabis industry. She strives to help people understand the changing business climate and to help reduce the stigma of decades of miseducation in the capacity as a guest contributor.

In the process of starting a business and need assistance? Thankfully there are more resources now than ever before for new entrepreneurs. Platforms like ZenBusiness (and other alternatives like Nationwide Incorporators or Incorporate.com) can help get your business off the ground while saving time and money.