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We respect your privacy. All email addresses you provide will be used just for sending this story. As head farmer at Veritas Farms in Pueblo, Colo. As it turns out, those are also two of the most important factors that consumers should consider when choosing among the thousands of CBD products now being sold across the country.
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Still relatively new to the mainstream, cannabidiol, more commonly known as CBD, is already becoming a household name. The purported therapeutic and health benefits of CBD, one of many compounds found in cannabis and hemp plants, has created quite a buzz. CBD oil has entered the marketplace in the form of tinctures, infused edibles, topicals and more. The industry is not without its challenges, especially surrounding the evolving legal landscape, but the opportunity is significant all the same.
If you want to get involved in the CBD industry, you'll first have to understand a bit about the cannabinoid and the products it goes into. CBD is one of more than cannabinoids, which are compounds found throughout the cannabis and hemp plants. The most famous cannabinoid is undoubtedly tetrahydrocannabinol THC , which is responsible for the intoxication associated with the consumption of cannabis.
CBD, however, does not produce an intoxicating effect; instead, it is often lauded as supposedly offering therapeutic and health benefits, though research into its potential medical applications is ongoing.
CBD products are generally created in several steps. First, the raw material needs to be cultivated and harvested. For example, if you plan on using industrial hemp to create your CBD products, you will either need to cultivate or purchase a large amount of the plant. From there, CBD oil is extracted from the plant using a variety of methods. Again, you can do this yourself or outsource the process to an extraction company. Once you have extracted the CBD oil, it can be sold as a concentrate or used to infuse a variety of products.
Some of the most common CBD products on the market today include sublingual tinctures, infused edibles and topicals, like gels or creams. CBD is found in both cannabis and hemp plants.
Because industrial hemp contains less than 0. Cannabis, on the other hand, contains more than 0. Hemp and cannabis are closely related; in fact, industrial hemp is actually Cannabis sativa L.
The difference in name is mostly a function of a legal definition, which sets the threshold for THC content. The flowers of a hemp plant contain little to no THC, while the flowers of a cannabis plant commonly referred to as marijuana contain much higher levels of THC. The federal government considers marijuana a Schedule I drug under the Controlled Substances Act, making it illegal for interstate commerce, even as dozens of states legalize it for adult use.
Industrial hemp, on the other hand, was recently removed from the Controlled Substances Act altogether, opening the way for its cultivation and harvest in the U. If you've done any research into the CBD market already, you've likely encountered the terms "full-spectrum" or "isolate. This is what is known as full-spectrum CBD. Full-spectrum CBD not only contains other cannabinoids found in the source material, but also compounds known as terpenes, which are responsible for creating the flavor profile, aroma and specific effects of the plant.
CBD isolate, as the name suggests, is a concentrate that only contains CBD and no other cannabinoids or terpenes. While the purity of CBD isolate might sound desirable, there is some evidence to suggest that full-spectrum CBD promotes an "entourage effect," that is, the compounds in a full-spectrum hemp extract work together to promote more significant effects. The entourage effect is still under investigation by researchers studying CBD and other cannabinoids.
Now that you know a bit more about CBD and how it is extracted from the hemp or cannabis plant, let's take a look at some of the products currently on the market. The CBD industry is diverse and evolving, so you could likely find many more products infused with CBD oil beyond this list. However, these are among the most common types of products available today:. There are many varieties of these products and others you can find out there, and as we learn more about CBD, the industry is coming up with new products all the time.
If you're looking to start a CBD business, you will have a wide range of product types to consider selling. Starting a CBD business includes all the hard work and effort of launching any other company in addition to the uncertainty of a shifting regulatory landscape and all the issues that go along with it. However, in a fledgling industry projected to undergo explosive growth, the heavy lifting today could be well worth it tomorrow.
Cory Slovik, owner of Core Roots CBD , started his company after experiencing firsthand what he said were the healing properties of the cannabinoid.
I tried CBD, and it helped me tremendously," said Slovik. Slovik soon launched Core Roots CBD, seeing a business opportunity and a way to help other people treat their pain. He said starting a CBD company is like any other business, plus a bunch of added steps.
Just because the Farm Bill federally legalized industrial hemp and, by extension, hemp extract, like CBD oils, doesn't mean there aren't significant regulatory considerations surrounding the industrial hemp industry. So far, the federal agency has signaled that marketing CBD as having health benefits will not be tolerated. It has also initiated a crackdown against CBD infused foods and beverages in some instances.
Further complicating the regulatory landscape is the approval of the CBD-based pharmaceutical Epidolex, an epilepsy medication that was approved by the FDA. Clearer guidance is sorely needed for CBD businesses to operate in compliance with federal regulations. Many companies are doing different things, but no one really knows [what the regulations will be] until it happens.
Understanding your legal obligations and playing it safe is key in a highly scrutinized industry. While CBD businesses everywhere await clearer regulatory guidance, it is important not to craft your marketing strategy around the supposed benefits of CBD. It's also important to stay apprised of new developments as the FDA moves forward on crafting new regulations. Marketing and selling CBD products can be tricky.
Likewise, social media advertising is virtually nonexistent; paid ads for CBD products risk account suspensions or bans, so all your growth must be driven through organic content that falls under the guidelines of each platform. You can't do any of those things. To successfully advertise and sell your CBD products, you will have to be creative. Establishing your own e-commerce store or carrying your products in a brick-and-mortar location is a must. Marketing your product with an organic search strategy and customer loyalty programs is always safer than engaging in paid advertising.
And, of course, every market is a bit different so do your research and understand your local and state laws. The key to gaining a competitive advantage with staying power in the CBD industry is to develop a high-quality product that will withstand the coming scrutiny of both regulators and educated consumers. If you want to differentiate yourself from other CBD businesses, it's key to provide third-party lab testing results to validate the quality of your product, Slovik said.
In addition, Slovik said pursuing certifications like USDA organic, Good Manufacturing Practices and FDA facility registrations are important moves to provide consumers with confidence in the quality of the product they are buying.
Know there will be changes. Research as much as you can, and recognize what the future opportunities are by thinking outside the box," he said. The CBD and cannabis industry faces unique challenges that other industries don't. Most of these challenges relate to the regulatory environment and, as federal agencies like the FDA detail specific rules and guidelines, things should stabilize.
For now, though, if you want to start a CBD business, you should be aware of these major considerations:. Each of these challenges will likely be cleared up as more concrete regulation appears, but in the meantime, CBD businesses must remain adaptable and well-informed. Changes in the industry come on a day-to-day basis, so preparing backup plans ahead of time could save you a great deal of time and money should the worst come to pass.
The growth opportunity in the CBD industry is unparalleled. The cannabis industry is one of the fastest growing in the nation, and CBD is one of the quickest growing sectors of that industry.
Especially following the passage of the Farm Bill, hemp CBD products are proliferating at a fast rate. If you want to start a CBD business, you're not alone. Many people are trying to break in, so don't follow the herd. You want to be a leader. A combination of due diligence and creativity will set your business up for success in the CBD industry. Now is the time to get in on the ground floor and build a company that will last, but differentiate yourself with a quality product that stands out from the crowd.
Adam C. Uzialko, a New Jersey native, graduated from Rutgers University in with a degree in political science and journalism and media studies. He reviews healthcare information technology, call centers, document management software and employee monitoring software. In addition to his full-time position at Business News Daily and business. An indispensable ally of the feline race, Adam is owned by four lovely cats.
Product and service reviews are conducted independently by our editorial team, but we sometimes make money when you click on links. Learn more. Start Your Business Business Ideas. Ready to take your CBD business online? Start now and get up to 3 months free with BigCommerce.
How to (Successfully) Sell CBD Online: A Seller's Guide While shoppers tend to purchase CBD more often in brick-and-mortar stores, payment for CBD products, due to the fact that cannabis banking services are not yet available. Commercial Bank of Dubai download center to download documents which is required for customers. Smart Transfer Form · Smart Transfer Form Quick Guide.
If you own a CBD store, many of the traditional payment options are not available to you. This is due to the fact that CBD is considered to be a high-risk industry and because they are governed by US federal law. This means that even though it is legal to make payment via Paypal or Stripe in Europe, because the companies follow US law, they will refuse to accept payments and act as a payment processor for European CBD stores. PayPal is not a regulated bank and is therefore not subject to the same legal requirements. One of the things that you agree to when you sign up for an account with PayPal is that they can freeze any funds in your account for up to days if they disagree with your business practices.
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Due to the recent research and personal testimonials surrounding CBD, the market for CBD oil has expanded substantially. From our five years of experience in the CBD industry, we have gathered valuable information that will help guide you through the opening of a CBD store.
How to (Successfully) Sell CBD Online: A 2020 Seller’s Guide
In order to take advantage of this global movement, you need to know how to properly and legally market and sell your CBD products online. After all, competition is fierce, and with an increasing number of people choosing cannabis as a treatment for widespread illnesses, ailments and medical conditions, staying ahead of your competitors is key. Selling CBD online is perhaps the easiest way to market the popular product note CBD is not legal in all 50 states , which can be transformed into a wide range of products, including:. Sales of CBD and hemp oil products in the U. While shoppers tend to purchase CBD more often in brick-and-mortar stores, the ease of shopping online is sure to increase the popularity of CBD ecommerce in the future. Just like with any other online business, selling CBD oil and other CBD-infused products online presents a few obstacles that must be overcome prior to launching a website and kick-starting the marketing process.
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Still relatively new to the mainstream, cannabidiol, more commonly known as CBD, is already becoming a household name. The purported therapeutic and health benefits of CBD, one of many compounds found in cannabis and hemp plants, has created quite a buzz. CBD oil has entered the marketplace in the form of tinctures, infused edibles, topicals and more. The industry is not without its challenges, especially surrounding the evolving legal landscape, but the opportunity is significant all the same. If you want to get involved in the CBD industry, you'll first have to understand a bit about the cannabinoid and the products it goes into. CBD is one of more than cannabinoids, which are compounds found throughout the cannabis and hemp plants. The most famous cannabinoid is undoubtedly tetrahydrocannabinol THC , which is responsible for the intoxication associated with the consumption of cannabis. CBD, however, does not produce an intoxicating effect; instead, it is often lauded as supposedly offering therapeutic and health benefits, though research into its potential medical applications is ongoing.
In the last few years, CBD oil has grown from a niche alternative treatment to a multimillion-dollar market.
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We see the body as being like a garden. To keep it healthy and to reach your potential, you need to tend to it a little every day to help it bloom. CBD oil has stopped it from taking over my everyday life… I feel calm. Lovely decor inside too. I put a drop of the CBD oil on the back of my hand and within minutes I feel more at ease. Colorado has a history of pioneering in the hemp industry and leading the way with quality control. Our supply chain allows us to track our CBD 'from seed to sale' - from the acre our plant was grown in to the bottle on our shelves. All our products have batch numbers for identification and we double-lab test our CBD to avoid inconsistencies. We publish our lab certificates alongside our products on our website. As well, as being organically grown, our CBD is non-GMO and it does not include any heavy metals, pesticides, or solvents. We test for all major allergens.
How to accept payments online if you are selling CBD Oil or Cannabis with an Ecommerce store
Thanks in part to the Farm Bill, which federally legalized industrial hemp plants from which CBD can be extracted, the floodgates have been opened for the entire CBD and hemp industry. The potential revenue of CBD sales could experience a vast increase thanks to the legalization of industrial hemp in the Farm Bill. However, contrary to popular belief, all hemp-derived CBD products have not been fully legalized under the Farm Bill — creating uncertainty for CBD industry leaders. This pain can be acutely felt by CBD ecommerce store owners. Will there be a light at the end of the tunnel for these intrepid online hemp vendors? CBD can be derived from hemp , a non-psychoactive variety of the Cannabis Sativa plant. The main difference between hemp and marijuana is that hemp contains very little THC tetrahydrocannabinol 0.
