According to the online service Statista, e-commerce CBD sales will grow from 2 billion dollars in 2021 to 6 billion USD in 2026. Do you want to join this party and get your fat piece of revenue? If yes, then it’s right about the time to start selling CBD oil online.
To do this, you have to make certain preparations, like registering your business and getting a license for online CBD sales. These are only a few things waiting for a person who wants to sell CBD oil online.
I Want to Sell CBD Oil Online. What Should I Do for This?
The desire to sell CBD oil on the Internet usually brings about many questions, including how to sell CBD oil online. Though it may seem a piece of cake, it requires a lot of time and effort before the idea turns into a real business. What should I do if I want to sell CBD oil online?
- Learn the market and all the details about the products you are going to sell. To make correct decisions in your online business, you have to learn the market properly. You should know what types of CBD are more popular and are so better sold and which of them are in low demand. This will allow you to choose CBD types for your online store wisely. Besides, you should learn everything about the CBD manufacturing process and other things related to this hemp-derived substance to get some expertise in the sphere.
- Do the paperwork. Registering your business as well as getting a sales license is a must for anyone who wants to sell CBD oil legally. Having all the necessary documents, you’ll be able to hire employees, sign contracts with the supplying companies, and do other things for your business development.
- Start a partnership with CBD supplying company. Work only with those offering CBD products of the best quality. They should be made of organic hemp and their quality should be proven with the Certificates of Analysis. The supplying company should be able to provide CBD in bulk at a wholesale price.
- Create your brand name and logo. It should be something easy to remember so that your customers would recognize your brand whenever they see the package. One of the things that might help you when working with the brand name and logo is learning your target audience. Usually, CBD oils and other CBD stuff are bought by people aged 18 – 35.
- Create a website. The trouble with CBD sales is that not all platforms allow it. You will have to do some research to find the one where you can start selling CBD online. Among those to consider, there are BigCommerce, Shopify, WordPress, or you can use HempWhiteLabel marketplace for your first sales.
- Fill it with products and product descriptions. The content on the website should be SEO-friendly for the website to be ranked high on the search.
- Get a merchant processor. To work with payments in an online store, you need a merchant processor. Similar to the situation with online platforms to sell CBD, most well-known merchant processors don’t work with CBD sales considering it a high-risk business.
Why Is It Better to Sell CBD Oil Online?
Deciding how to sell CBD oil, people consider two possible options – online sales or brick-and-mortar shop. Most choose to sell CBD online. There are many reasons in favor of such a decision.
Online CBD shop doesn’t need you to rent any retail space. If you cooperate with CBD suppliers providing you not only with the products for sale but also with the warehouse space, why should you spend extra money on that? Besides, your operational expenses will get to a minimum with an online store.
Working on the Internet, it is much easier to reach your target audience and attract leads to your shop. How to help people find out about your online store? Find some advertising platforms that allow CBD. You can also try to use social media for advertising purposes, yet this might be risky as your account might be banned. An online store is a much better option for people living in communities where people don’t use CBD. With access to the Internet, you can sell CBD nationwide with the perspective of selling the product to people living around the world.
The last couple of years have shown us that online business is less vulnerable than brick-and-mortar stores. While the situation in the world is still far from being called stable, deciding to establish an online CBD shop is wise. This way, your customers will be able to buy CBD in any given circumstances.
Can I Sell CBD Oil Online Legally?
How to sell CBD oil is not the only question that bothers people thinking about buying CBD in bulk to resell it in their online store. Another thing that bothers them is can I sell CBD oil online legally.
There exist no restrictions as to selling CBD on the Internet if it contains no more than 0.3% of THC in its composition. Products that don’t meet this legal requirement are banned by the government and are not allowed for sale. In the US, selling CBD online became possible after the emergence of the 2018 Farm Bill, while in Europe, CBD was allowed for legal sale in 2019. Still, different countries and states set their own laws on CBD sales. You’d better learn the legal requirements effective in your area before setting up a CBD business. By the way, in Europe, you can only sell products made of hemp seed extracts. Tincture and other CBD made using other parts of the hemp plant remain in the grey area.
Knowledge of laws, the CBD market, and how to sell CBD oil online are essential for anyone who is going to get into this sphere. Once you learn them, you can feel much more confident establishing your online CBD business.