The CBD industry is booming and doesn’t appear to be slowing down anytime soon. The industry is still fairly new, which means the potential business opportunities it has to offer can be endless. There are a wide variety of CBD products you can offer, including:
- CBD tinctures
- CBD for pets
- CBD topicals
- CBD bath bombs
- and so many other innovative CBD-based products
There are so many possibilities and such a great potential in the industry. It is no wonder so many people want to stick their hand in the CBD industry to reap the benefits.
Why You Should Start Your Own CBD Label
In the few years since the 2018 Farm Bill federally legalized hemp-derived CBD, the industry has absolutely boomed. What does this mean for those interested in starting their own label? The earlier you jump in, the better chance you and your CBD label have of making it big within the industry.
The research surrounding CBD has suggested that the hemp-derived product has a ton of benefits to offer its users. The benefits suggested by research include:
- Reducing depression and anxiety symptoms
- Treating certain epilepsy syndromes
- Decreasing symptoms of PTSD
- Aiding in the treatment of an opioid addiction
- Pain relief
- Easing amyotrophic lateral sclerosis (ALS) symptoms
- Reducing diabetic complications
- Alleviating symptoms of arthritis
Scientists have already found so many benefits in their research of CBD. The best part is, they have only just scratched the surface. New research comes out every day. And with each new finding, the CBD industry will likely continue to grow.
According to an article on the Forbes website, 2020 CBD sales in the U.S. hit $4.6 billion. This comes only two years after the federal legalization of hemp-derived cannabinoids. With so much growth in so little time, we can only imagine how quickly the industry will continue to grow.
As a matter of fact, the same article estimates that the CBD industry will be bringing in an estimated $15 billion to $29 billion by the years 2024 and 2025.
Tips for Starting Your New CBD Private Label
We have now established the multitude of benefits CBD has been suggested to offer in research. Has learning about the potential of the CBD industry got you dreaming of jumping into the playing field?
Starting your new CBD private label may sound like a dream come true. However, getting started has probably left you feeling overwhelmed. We are here to help.
Below, we will provide you with a few tips and tricks to get your own CBD private label up and running.
Do Your Research
First thing’s first- you want to know everything there is to know about the industry. Brush up on the technicalities and guidelines within the legalities for your products. Develop a deep understanding of the 2018 Farm Bill. This bill is the one that federally legalized hemp and hemp- based CBD products.
Yes, the law legalized hemp and hemp- based CBD products. However, this legalization did not come without strict restrictions. As you build your business, you are going to want to understand these restrictions and guidelines. You are also going to have to continue to keep up to date with them.
This is because each guideline is likely to change as we continue to learn more about the hemp-based product. The FDA has been working on building guidelines around the CBD industry. As they figure out these guidelines, CBD- based business owners will have to keep up to date with them.
Finding the Right Manufacturers
After researching the laws and guidelines, you are going to want to find the right manufacturer. Here at Hemp Health Inc, we offer high quality CBD products, such as:
- Pet treats
- Pure CBD isolate powder
- Pet and human oral sprays
As a matter of fact, even if you have other products in mind, we are open to discussing it with you! Just reach out to us and we will get you into the program that fits your needs.
Marketing and Selling Your Product
When marketing and selling your CBD products, you must still be mindful of laws and regulations. The 2018 Farm Bill certainly helped to loosen the abilities CBD industry.
However, there are still obstacles. These obstacles are especially difficult on online platforms, like eBay and Amazon.
Social media advertisements can also be tricky when it comes to selling CBD. Some paid CBD ads run the risk of a banned or suspended account. Learning how to organically grow your CBD business’ social media may be your best bet at increasing your label’s visibility.
When it comes to selling and marketing your products, get those creative juices flowing. Build a website that is easy to find through Google searches. Understand the market- from the laws and regulations to the strategies that derive the most traffic. Get your name out there the best you can.
The CBD Industry Has Immense Potential, so Jump On In.
As you have read, there is immense potential in the CBD industry. With so much potential, you are definitely going to want to take a piece of the pie. However, so will tons of other people.
You have to build a competitive and successful CBD private label in order to find the success you are seeking. The key to building a successful CBD private label is building a loyal clientele. How do you do that?
By providing your clients with high quality products and services, of course. In regards to service, you are going to want to provide your customers with great satisfaction.
Work to provide your customers with high quality service with a quick response rate. Be transparent about your business practices. Most importantly, truly listen to your customer’s concerns and feedback.
In regards to products, we’ve got your back here at Hemp Health Inc. Through the years, we have worked with a multitude of clients who have found success by reselling our products.
We work with each of our clients to ensure they sign up for the right program for their business. We help our clients find a program that reaches every one of their business needs and goals.