how much can i sell my own cbd oil for

How much can i sell my own cbd oil for

In the last few years, CBD oil has grown from a niche alternative treatment to a multimillion-dollar market. The growth rate suggests that by 2022 the CBD market will expand to over $2.5 billion. As more people discover the benefits of CBD, the medical community and legislators alike are taking notice. CBD is used on a daily basis by millions of people, and because of the credibility given to it by doctors, researchers, and lawmakers who support it, more people are trying CBD for the first time every day.

Whether you use CBD yourself or you’re just interested in the industry, now is a fantastic time to enter the market and open your own online CBD store. Shift4Shop has everything you need to handle this unique industry and tap into the huge opportunities offered by the CBD market. You’ll have access to the most powerful eCommerce tools available for starting your store, reaching your customers, and getting the brand recognition that leads to a successful business.

Understanding CBD and CBD Products

There is a lot of confusion around CBD products due to its relationship with marijuana, so let’s go over the facts. CBD is short for cannabidiol, a compound found in all cannabis plants. What makes CBD oils different is that they do not contain THC (tetrahydrocannabinol) which is the compound responsible for the “high” associated with marijuana. CBD itself is completely non-psychoactive, meaning it does not affect the brain like THC does. Instead, CBD provides several positive health effects that have been thoroughly documented, although the FDA has not yet evaluated these claims.

Misunderstandings about CBD have led to legal problems for various companies in some states, but fortunately the difficult times have passed as CBD is now understood and valued throughout the US. Today, it is legal to sell CBD nationwide as long as it remains within the minimum THC limit of 0.3%, which is a negligible amount that does not affect the brain. If you want to sell CBD online, you can start your business without issues as long as you follow a few simple rules (like getting any required licensing and not making direct medical claims on your website).

People take CBD for a variety of reasons including severe or painful conditions and anxiety relief. Everyone who uses CBD also has their own preferred method of taking it, which can be anything from vaping it to swallowing a pill. As a CBD seller, it’s important for you to understand the types of CBD products available and how they are used, as well as which types of customers the different products appeal to.

CBD Tinctures

A tincture is a concentrated extract made by soaking herbs in very strong alcohol for long periods of time, or in the case of CBD tinctures, by combining natural hemp oil with alcohol or another solvent. Tinctures are administered by placing a few drops of the liquid under the tongue. Only a small amount is needed for a dose because they are so highly concentrated. This method of administering CBD appeals to people who want the fastest way to take CBD and feel its effects quickly.

CBD Edibles

Edibles are all types of food containing CBD, and can include gummies or chews, hard candies, chocolate, cookies, and even beverages. Edibles are popular among customers who like to take their CBD in the form of a tasty treat. Since edibles are food products, they’re subject to additional regulations that vary by state. These include food safety regulations as well as packaging requirements like childproof containers.

CBD Isolates

An isolate is a pure substance that has been extracted from its source and refined into a powder. CBD isolate has been processed to remove all the other natural plant substances such as chlorophyll and wax and leave only pure CBD behind. Isolates are colorless and flavorless and can be used in a similar way to tinctures, or can be added as an ingredient to infuse CBD into a variety of foods and beverages. Isolates are popular with customers who like to mix their own CBD products at home.

CBD Capsules

CBD capsules are just like any other gelatin capsule or softgel: a fast, convenient way to administer a dose of its ingredients. Capsules are quicker to use than tinctures and isolates, and are often favored by customers who want to avoid edibles or just want to take CBD in a familiar way. Many people are used to taking multivitamins or medications in capsule form, so capsules are often a natural starting point for customers new to CBD.

CBD Vaporizers and Vape Concentrates

Inhalation is a popular method for CBD delivery because, much like with tinctures, the CBD is absorbed directly into the bloodstream and so provides immediate effects. CBD concentrates can be vaped similarly to nicotine e-liquids, so vape supply stores often expand into CBD or vice versa (learn more about selling vape online). Traditional smoking methods like water pipes are also popular, but some CBD retailers find these products troublesome due to drug paraphernalia laws (regardless of their use with legal CBD) and the difficulty of shipping complicated glass items.

CBD Topical Formulations

A CBD topical formulation is a cream, salve, lotion, gel, or other preparation made to be rubbed into the skin. These products can be applied directly to inflamed or painful areas similar to other pain relief ointments. They also provide an alternative for customers who don’t like to take CBD orally. These treatments can also include other ingredients like menthol to provide a cooling sensation. CBD can also be used in massage oils.

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CBD Patches

Patches are another method for absorbing CBD through the skin. Similar to nicotine patches and various types of pain relief patches, CBD patches gradually release their ingredients into the body over the course of the day. Customers prefer CBD patches when they need to maintain a low, consistent dosage throughout many hours, or just for the convenience of patches over other methods. Patches are also useful when a person won’t have access to other CBD products during the day or won’t have a chance to take them.

CBD for Pets

CBD has been shown to have similar effects on animals as it has on humans, so it’s popular with people who have pets that suffer from pain or anxiety — even if the customer doesn’t use any CBD themselves. Since animals can have much more sensitive systems than humans, CBD oils for pets should be specially formulated to ensure their safety. CBD for pets can also come in flavors like fish and bacon to make it more appealing to cats and dogs.

Summary of CBD Products and Accessories You Can Sell:

  • CBD tinctures
  • CBD vaporizers and concentrates
  • CBD edibles
  • CBD topical formulations
  • CBD isolates
  • CBD patches
  • CBD capsules
  • CBD for pets

This list is a summary of hundreds of individual products which can all be sold quite successfully through an online CBD store. Customers will also need to restock their CBD products, including their preferred concentrates and delivery methods which could include numerous types of vaping accessories. If you build your CBD eCommerce website with advanced software like Shift4Shop, you can make the reordering process much easier for your customers by implementing a subscription service for needed products. You can also offer product bundles, like edible variety packs, CBD vape starter sets, and more.

How to Choose a CBD Supplier

Choosing a CBD supplier is a very important decision that will affect the quality of your products, the satisfaction of your customers, and the reputation of your brand. Because of the famous health benefits of CBD, “fake” CBD oils are found in stores everywhere. These oils are considered not to be true CBD because they’re derived from hemp seeds, which contain very little CBD, rather than from the stalks and leaves of the plant where the most CBD is found. It’s crucial for your business that you choose a manufacturer that makes genuine CBD that will have the health effects your customers want — this way, you can immediately differentiate your business from the brands that provide no benefit and only seek to cash in on a trend.

When evaluating a CBD supplier, find out as much as you can about their manufacturing process. Remember that you want to sell CBD oil products derived from industrial hemp with a THC content of less than 0.3%, processed from the plant itself and not the seeds. Here are some other considerations to keep in mind when looking at suppliers.

Medical Claims

CBD retailers are not allowed to make medical claims on their websites, and neither are suppliers. Even though research has shown many potential benefits and most people who use CBD report positive effects from it, the FDA hasn’t yet evaluated these statements. CBD suppliers, including both wholesalers and consumer-level retailers, are required to display the FDA’s disclaimer on their website. If you’re looking at a supplier who makes medical claims about their CBD products, be aware that these statements have no FDA backing. Don’t choose a supplier based on medical claims — and if the supplier has particularly bold claims on their website (e.g. “cures cancer,”) you may wish to avoid that supplier entirely, as breaking this rule means the supplier may be breaking others as well.

Pricing

As a business owner, you should always look for ways to lower your costs as long as you don’t compromise on the quality of your merchandise. CBD suppliers’ pricing can vary greatly, and sometimes this is reflected in the quality of the product. For example, higher-priced CBD products are often more pure and potent — but this isn’t always the case. Make sure you learn as much as possible about the supplier so you can learn whether the quality of their products justifies the pricing. Likewise, stay away from suppliers who sell at abnormally cheap prices. These rock-bottom prices are almost always a sign of cutting corners and producing an inferior product.

Hemp Sourcing

Europe and the United States both have long histories of hemp farming due to the quality of products made from hemp, such as rope and textiles, even before CBD was understood. Today, the US and Europe are home to some of the best hemp farmers in the world, although not all European countries that grow hemp do so for CBD extraction. Other countries throughout the world also grow hemp for various uses that may not permit usage for CBD. Hemp farming was also banned in the US for over 50 years and is still illegal in some states. It is important that your CBD supplier obtains hemp from a reputable farm that produces high-quality crops such as those found in the US and Europe. If your supplier grows their own hemp, investigate to ensure they’re following industry best practices.

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Extraction Method and CoA

There are a variety of processes that are used to extract CBD from industrial hemp, and the process used has an effect on the quality of the product. The best of these processes is CO2 extraction because it results in CBD oils that are free of contaminants, unlike other methods that can leave chemicals behind in the oil. Choose a manufacturer that uses CO2 extraction if at all possible. You should also be able to access a CoA (certificate of analysis) from the supplier that lists the exact levels of CBD, THC, and any other substances in the product. Different suppliers’ CoAs might look different, but always check for results from pesticide testing, microbiological testing (for mold and bacteria), and residual solvents testing (to identify any remaining chemicals from the extraction process). If the CoA isn’t posted on the supplier’s website, always request a copy before purchasing inventory.

Extra Services

Some CBD suppliers offer additional services like dropshipping and private labeling. While the quality of the product should come first, it’s also very helpful to know if a supplier can provide these services. If you’re planning on dropshipping your CBD products, this option is crucial to your business model. In addition, private labeling allows you to sell fully branded products with your own business name and logo, which helps you become established in the industry and start earning the trust of your customers.

High-Quality CBD Wholesalers

Whether you plan to stock inventory or sell by dropshipping, the quality of your supply chain makes all the difference. It’s also vital to choose a supplier that’s right for your business and can get your products to you in a timely fashion. Since the CBD industry is growing, it’s becoming easier to find good suppliers that will work well with you.

How to Make Money Selling CBD Oil?

The market of CBD oil is expected to expand to over $20 billion by 2024 and looking at the growing popularity of this miraculous compound, we can only agree with it! The best part is that CBD is naturally-occurring and this makes this product both available and accessible to anyone who knows where to find it.

Now, we know what you are thinking – can you make some cash out of it? Well, the answer is yes and this is why we are here with this brand-new article! However, if you don’t know the process of marketing and selling your CBD products (keeping the legality intact), then making good money from the CBD business might be a problem for you.

This also means that every problem comes with a solution and this latter has led thousands of people to earn millions by starting their own CBD oil business. When you are informed and confident in yourself, that’s when you know that your business is going to be a lucrative one.

So, if you are contemplating the idea of starting your own CBD oil business, well, then keep reading.

Why are people buying CBD oil?

CBD oil is the product of cannabidiol, popularly known as CBD, which is found in the cannabis plant, amongst numerous other compounds. CBD is unique in a sense that it contains very low quantity of tetrahydrocannabinol or THC, another cannabis compound which interacts with the CB1 receptors of the endocannabinoid system of the body to produce what we call ‘high’ in the brain, which gets you stoned.

However, CBD is the talk of the health and wellness market industry because of its magical healing qualities. Yes, it is known for its therapeutic nature and is helping people across the world in the treatment of their health conditions. What are these problems? Well, you name it and this product is said to be helping people fight it – anxiety, depression, inflammation, insomnia, seizure, epilepsy, even cancer, etc.

So, we understood from the above mentions that CBD has the potential to become a natural medicine, it is non-psychoactive in nature and it is naturally available, which means it is safe to take/consume by both people as well as animals. Now, add this one to the list – the compound has been legalized across all 50 states of the country under the 2018 Farm Bill.

How to make good money selling CBD oil?

CBD is everywhere, we all know it. You must be living under a rock if you are living in America and still haven’t heard of CBD, seriously! It’s great that you have heard of CBD and even better that you are using CBD oil, because someone who is impressed with the positive effects of CBD can only think of starting a CBD business.

So, now that you have decided to make good money by starting your CBD oil business, well, it’s time to know where you can start from-

1. Understanding the legal status of CBD

It is obviously impossible to start any business before learning about the legality of the product in question. This especially applies to CBD oil since it is a hemp-driven cannabis. From FDA regulations to state and country laws, you need to be clear on every law related to manufacturing and selling of CBD oil or else you might get tangled in a serious case of penalties.

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So, is CBD officially legal in the US? Well, the answer to that is yes and now. Even though the Farm Bill has legalized CBD in all over the US, it depends on which state you reside in to be absolutely sure whether you can extract, manufacture or sell CBD from there.

There are certain states that have changed their laws to exclude hemp-driven CBD from the controlled substance. There are also a few states that have allowed the sale of CBD-infused products but they require a license to allow the sale. There are also states that have prohibited the sale and consumption of CBD oil and other products. Thus, you have to be completely compliant with the laws of every state before starting your CBD business.

2. Obtain a standard business license

Before selling the products, it is necessary to get your permit or license required by the state you are setting your business in. The permits may be required for keeping your CBD stock, food license for making your own edibles, and re-seller’s license for purchasing products from wholesalers. You can get in touch with a license expert to make sure what all permits and licenses you require to set up your business.

3. Sell High Quality CBD Products

One of the most important things to keep in mind is to choose a supplier which already provides for a high-quality CBD brand like CBDistillery. You can read the review here to know how they maintain their quality.

A lot of customers complain about purchasing fake CBD products . Thus, the first thing after obtaining the license should be building your reputation and do not compromise on the quality of the CBD oil and other products that you are planning to sell.

It is important to thus learn about the manufacturing process, the signs of high-quality products of CBD and how to know whether the product passes the taste of great quality.

4. Research the price, packaging and other important things

Now that you are in the process of establishing your CBD oil business it is also recommended to research the ideal price, packaging and shipping tips, marketing tools, customer-service know abouts, and other important things.

You can take the help of someone who is already in the business game and has years of experience in the field. The competition might be fierce but you should know that there are people in the business who would love to guide you and be a great help to you.

5. Extraction process

There are various methods of extraction process of CBD oil. However, in the current scenario, the best process is known as CO2 Extraction Process, where the final CBD product comes out as purer and contains less chemicals than it does in other methods.

6. Establish genuine connections in the industry

There is nothing better than learning from an expert, who has already made it big in the industry. Thus, it is important to go ahead and attend CBD trade shows and conferences and make your name amongst other people in the industry. When you establish strong connections and work toward developing them, you open yourself to a lot of possibilities. This will also increase brand awareness and you will get to learn new ways to sell your products. You also get an opportunity to analyse your competitors and learn what and what not to do with your business.

7. Grow content online

A successful company requires a strong online media presence. Also, you need to make sure that your website is well-optimized for Google and other search engines to help it come on the top of search engines.

So, you should keep updating your blog regularly and use the right keywords to attract as much traffic as you can, which will have the potential to turn your leads into customers. Thus, it is recommended to hire a good digital marketing company or professional to take care of your online business, since most people rely on online websites to buy their CBD products.

Once you are through the above seven points, you can consider yourself a seller of CBD oil and can keep growing your business.

Conclusion

Do not compromise on the quality and services even after you start earning good money via your CBD oil business. Always remember that customers are your priority and put yourself in their shoes as well. Keep it authentic and you can get success in any field and things are no different in this case. Thus, stay true to your business – work hard, be positive, make connections, and know exactly what you want in your vision. Sooner or later, you will start earning good money from your CBD oil business, more because the world is in need and searching for authentic, high-quality and affordable CBD oil and related products. Who knows, you might be the next big thing in the world of business!