It is no secret that the CBD oil market has expanded exponentially. Even with it’s growing popularity, you would be surprised how many people don’t know how to sell CBD oil properly. From facing possible legality issues to finding appropriate platforms to sell their wares, there are many aspects of selling CBD oil that many people are unaware of.
Why Should You Be Selling CBD Oil?
Sell CBD Oil: Online vs. Offline
Sell CBD Oil Online
It is no secret that selling CBD oil online, or any product for that matter, has its own fair share of benefits. Unlike a retail location, an online store can save any business owner a lot of money in start-up and operational costs. On top of low costs to get started, you can also have an opportunity to reach a broader audience than you can reach in a retail location alone.
Selling CBD oil online can help you cater to customers who only do their shopping online, especially if they are unable to find CBD oil at a store location near them.
Sell CBD Oil in a Retail Store
While selling CBD oil online is preferred by many business owners, there are benefits to selling in a retail store that the online space cannot compete with. In a retail location, customers can see the product they want to purchase up close and personal. This gives them immediate access to the product and access to you, where they can ask questions right then and there if needed.
Added benefits to having a retail store allows you as the business owner to build loyalty, trust and rapport with your customers on a personal basis. It is also a great way for you to increase your annual repeat sales in person.
How to Sell CBD: What You Need to Know Beforehand
There are many things you need to be aware of before you can even begin to sell CBD online. Here are some of the things that you need to be aware of before you can even begin to sell your first bottle of CBD.
Is CBD oil legal?
Yes and no.
In the United States, in certain states that have legalized marijuana for recreational use, yes it is legal to sell CBD oil.
However, on a federal level, marijuana and CBD oil containing THC is still considered illegal nationwide. Of course, there is a way to get around this. If you are selling CBD oil that contains less than 0.3% THC and if the oil is derived from industrial hemp instead of cannabis, then it is legal to sell legally within the United States as according to the 2018 Farm Bill.
Will CBD oil get you high?
This depends on the level of THC contained within the CBD oil. If the CBD oil contains less than 0.3% THC, then no, it will not get you high. However, if it contains more THC, the likelihood of you feeling high will increase.
Does CBD oil show up on a drug test?
Typically, most drug tests look for levels of THC within the system. However, if the CBD oil you are selling is properly sourced and contains less than 0.3% THC, the likelihood of it showing up on a drug test is unlikely. Keep in mind, this isn’t a guarantee. Even if in trace amounts, THC could show up on drug tests, depending on the test being conducted.
Do you need FDA approval?
However, getting FDA approval allows your company to make claims of the use of CBD oil such as its ability to treat, prevent or cure certain diseases. Without FDA approval, you will need to be careful what you put on the label of your product.
Does CBD oil have side effects?
Yes, but any side effects are minor.
While few studies conducted on CBD oil have found that adults tend to tolerate a variety of CBD oil doses fairly well, large doses could affect children negatively. Some of the most common side effects associated with CBD oil include:
- Increased fatigue
- Changes in appetite
- Mood swings
How to Sell CBD Oil: The Step-by-Step Process
Now that you understand the benefits of selling CBD oil in an online space or retail location and understand a few things about CBD oil before selling it, it is time to get started in the actual CBD oil selling process!
Step One: Come up with a business plan
In order to succeed in the CBD market, or any market in general, you should always set up a business plan first. Setting up a detailed business plan can help you map out the growth of your CBD business, allowing you to see the goals and strategies you plan to implement throughout your business journey.
Some of the things that you will want to include in your business plan include:
- Types of products you are offering-you need to consider what your CBD product is going to look like and what kind of market segment you plan on serving.
- Market analysis-figure out what your target audience is going to be? What are the needs of this customer base? How can your product meet their needs?
- How do you plan on financing your business-you need to figure out how you are going to fund your business and where the money is going to be coming from. How do you plan to fund your business for the long-term?
- Marketing-every business needs marketing in order to survive. What is your brand? How do you plan on getting prospects to purchase the product? How do you plan on closing sales and converting in repeat sales?
- Marketing Strategy-how do you plan on implementing your marketing goals? Are you going to advertise online? Offline? Offer special discounts or deals?
- Forecast-set a realistic sales benchmark that you are confident you can meet. Once you have done that, how long do you think it will take to meet your goal? How do you see sales increasing in a year? 3 years? 5 years?
Step Two: Find a reputable supplier
Once you have a business plan in place, next you will need to find a reputable supplier for your CBD products. You want to find a supplier that offers high-quality products that your customers will love.
Some of the things you should look for in a reputable supplier include:
- The Source-you need to find out where the supplier sources it CBD from. Its source can tell you a lot about the quality of the product. Make sure to find suppliers located in the United States or Europe. If using a smaller supplier, be sure to looking into their farming and extraction practices to ensure they are above quality standards.
- Extraction-when you get into the CBD market, you will quickly learn that there are various extraction methods to choose from. You need to understand that some of the extraction methods available tend to use some of the harshest chemicals, most of which are still left in the final product. Be sure to find suppliers that use safe and clean methods to extract CBD oil from the cannabis or hemp plant.
- COA or Certificate of Analysis-A COA is an in-depth report of the levels of THC, CBD and other compounds in the CBD oil upon ready for sale. This report can help show your customers that they are receiving a high quality and pure product that contains exactly what is listed on the label.
- Does it make any claims?-while it is true that what little research there is on CBD have supported the benefits reported on CBD, no supplier is allowed to make medical claims about their product. Of course, this is unless the product they are carrying has FDA approval.
- The Price-try to stay away from suppliers that offer their CBD products at a ridiculously low price. Just like with many things you buy, you get what you pay for. The lower the price, the lower the quality.
- Additional Services-some suppliers will offer additional services on top of supplying you with a CBD product. Look for suppliers that offer things such as drop shipping, private labeling and promotional material to get the most bang for your buck.
Step Three: Build a website
Regardless if you plan on selling CBD oil online or in a retail location, you SHOULD ALWAYS HAVE A WEBSITE for your business. By having a professional and attractive website, you can maximize the amount of money you can earn.
In order to succeed with a website, you should:
- Choose the right platform to use-what platform you use for your website is just as important as the content you put on the site. You need to keep in mind that different website platforms will function differently, and you will need to find a platform that suits your particular business needs. You can choose website platforms such as Teachable for an educational approach, Squarespace to build an online presence or WordPress for everything in between.
- Create unique and high-quality content-regardless if you are going to have an ecommerce store on your website or just host a website about your company as a whole, it is important to add unique and high-quality content as consistently as possible. You want to give your customers an excuse to keep coming back to your website. Regardless of the type of content you produce, be sure to implement a strong SEO strategy to help ensure you are targeting the right keywords and that potential customers can find your company based on keywords they are searching for in the search engines.
Step Four: Build up your brand
Once you have taken care of coming up with a business plan and have built a website, you need to figure out what you are going to tell the world about who you and your company are. Your brand is just as important as the products you are selling.
The best way to build up your brand is to:
- Know your target audience-with the CBD market, you are going to want to focus on an audience that consists of people looking for natural remedies, those suffering from certain disorders such as anxiety, those looking for pain relief and those looking for CBD or hemp oil.
- Focus on your personality-the first thing you are going to have to come to terms with when it comes to your brand is that you cannot be everything to every single person. You will need to focus on a specific niche you want to target and just roll with it. Think of a positioning statement for your business. Think of words you want to be associated with your brand. Think of metaphors or concepts you can use to describe your brand.
- Write a slogan-coming up with a slogan can be a nice asset to have on hand. You will want to come up with a slogan that is brief yet descriptive to post across your social media accounts. Make your slogan short and catchy, yet able to make a strong impression.
- Pick out colors for your brand-you want the colors of your brand to reflect your brand as a whole. Think of what you are selling: in this case CBD oil. Soft and neutral colors like green, light brown and even a soft orange can help show a soft and holistic feel to your brand name. Whatever colors you pick, make sure to avoid choosing exact colors that mimic competitors as this can confuse your future customers.
- Design a brand logo-this is probably one of the first things that will come to mind when you start thinking of ways to build your brand. A logo is the face of any company and as such, will become equally important for your business. Typically, it is recommended that you create a logo that is unique, yet can be identified from competitors. When creating your logo, think about all of the places it will have to exist. You will need to create a logo that can be scalable so it can work in all sizes.
- Use your brand across your business-once you have created your brand, stick it on all the things that count. Slap it across products, social media pages, your website, advertising, and marketing. You need to get your brand out there so your customers will instantly recognize you and separate you from your competitors. Remember, in the end, you are the one with control over how the world sees your brand and company.
Step Five: Marketing and Advertising
Now that you have your logo, it is time for you to focus your efforts on marketing and advertising your CBD business. Now, this can be difficult depending on the state that you live in.
It is simple: because of the legality issues surrounding CBD. Remember, if your CBD oil product contains less than 0.3% THC, then it will be easier for you to market. However, if your CBD oil contains more THC and is being sold in a state that currently doesn’t have any legal marijuana laws, marketing your CBD product could then be considered illegal.
In order to effectively use a marketing plan for your CBD oil business, you will need to involve certain techniques such as segmentation, targeting the right audience and proper market analysis. For correct marketing practices, be sure to use the following:
- Leverage social media to your advantage-Everyone uses social media nowadays. So much so in fact, a majority of the traffic flowing to a website typically comes from a social media platform. With this in mind, be sure to create a Facebook page, Twitter account, Instagram account, a Pinterest account, Snapchat account, etc. Once created, be sure to post on your social media accounts regularly and consistently.
- Google is your friend-Google is truly a small business’ friend, specifically Google AdWords. You should strive to utilize Google AdWords to target specific keywords and target audiences to drive paid traffic to your products. This is also a great way to target specific locations, making it essential for CBD oil businesses that have retail businesses.
- Offer coupons and discounts-want to drive traffic to your products in a hurry? Give out discounts or coupons. It has been proven that people are most likely to buy products if they believe they are getting a good deal on it. Besides reaching a new audience, giving out discounts and coupons is a great way to create repeat sales and buzz about your business and brand.
Advertising is NOT the same as marketing. Advertising is a form of marketing that is used solely for the promotion of products and services. This is when selling your product will become prominent. You need to understand; advertising is not a one-size fits all solution for every business. How you advertise will solely depend on the product you are selling, your audience and of course, your budget.
For advertising, it is important for you to stay consistent and repetitively promote your branding. The more you do it, the more your brand will stick out in people’s minds.
Step Six: Tracking and Leveraging Results
How can you know if your marketing and advertising efforts are making an impact if you aren’t tracking the results? It is EXTREMELY important to track every marketing and advertising campaign you initialize. Tracking the results can help you see what is working and what isn’t working. It will also give you the chance to take what is working and leverage those efforts to get even more of a return on your initial investment.
Whew! This was one long post!
I hope that by the end of this long long long post you have learned how to sell CBD oil properly and effectively. Remember, everything you have learned in this post is not the end for you. Starting a business is a long and tough endeavor, regardless of the niche you are in. Do more research before jumping into any business venture.
Do that and you will be able to succeed in the CBD market for sure!
How Can Terpenes4health Help You Sell CBD Oil?
Terpenes4health, unlike competitors, is a CBD oil containing ZERO THC. This makes it even easier to sell because it is not illegal nationwide and it is a product most customers are already looking for! Terpenes4health is a perfect blend of terpenes, often lost in the extraction process. These terpenes help to effectively boost a normal dosage of CBD so customers can feel the effects of CBD faster and safely.
Terpenes4health is a great way for new business owners to get into the CBD market without risk. We help YOU get started quickly with our risk-free distributor case, containing 20 bottles of our Terpenes4health Relief and 20 bottles of our Terpenes4health Relax formulas. We also hook you up with great swag and promotional material to help making selling Terpenes4health easier and cost effective.
Agreed with our post? Have something to add? We would love to hear from you! Leave us a comment down below!
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Kumar, B., & Kumar, B. (2017, June 16). How to Build Your Own Brand From Scratch in 7 Steps. Retrieved May 30, 2019, from https://www.shopify.com/blog/how-to-build-a-brand
How to Get Started Selling CBD [Online & Retail] |. (n.d.). Retrieved May 30, 2019, from https://ushempwholesale.com/how-to-get-started-selling-cbd/
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