CBD is a market that has only just begun. And yet, it grows larger every single day. Because of this, the CBD industry has caught the eye of many business-minded entrepreneurs.
If the CBD industry has begun to spark your interest, you have likely fallen down the rabbit hole of research. This research is probably what brought you to this article. In this article, we are going to help you learn more about wholesale and CBD manufacturing.
The Future of the CBD Industry
According to Forbes, the CBD industry brought in a whopping 4.6 billion dollars in 2020. This comes only two years after the federal legalization of hemp and hemp-based CBD products. In 2018, the 2018 Farm Bill passed, legalizing CBD products in the US.
These numbers are only going to continue to grow. As a matter of fact, the same Forbes article suggests the CBD industry will bring in $15 billion by 2024. That number is expected to grow to $29 billion by 2025.
This estimated growth is huge. Research continues to suggest more and more benefits offered by CBD, such as:
- Reducing anxiety and PTSD symptoms
- Easing depression symptoms
- Alleviating certain epilepsy syndromes
- Pain relief
However, the research for CBD has only just begun to scratch the surface. It is believed that there are a multitude of other benefits just waiting to be discovered. As these benefits continue to become known, the industry will only grow larger and larger.
What is CBD Manufacturing?
CBD manufacturing is the process of creating and producing CBD products. CBD manufacturers will have a role in breeding, growing, and harvesting cannabis plants. They will work to ensure these plants have higher levels of CBD for their products.
As the manufacturer harvests their cannabis plants, they will then create the CBD- based product. At Hemp Health Inc., we have a group of experts who work to ensure each product manufactured is high quality. These experts are meticulous and follow strict guidelines to produce the best product possible.
What is a CBD Wholesaler?
A CBD wholesaler is the ones who market and sell the completed CBD products. CBD wholesalers purchase the manufactured goods and sell them to customers and retailers at a profit. The CBD wholesaler typically handles customer service, shipping, and handling of products.
Should You Become a CBD Wholesaler?
CBD demand is immensely high right now. Better yet, the industry has been estimated to only continue to grow. With each passing day, the benefits of CBD are continuing to become more clear. This has more people scrambling to jump into the industry.
If you dream of finding success as a CBD wholesaler, you have to be ready to build a reliable business. Don’t know how to get started? We are here to help you!
Tips for Becoming a CBD Wholesaler
Becoming a CBD wholesaler has a ton of potential to offer. However, it can be overwhelming to get started. This is why we have decided to provide you with some tips to get your CBD wholesale business running.
Do Your Research
There are many laws and regulations surrounding the CBD industry. Before starting your CBD wholesale business, you should make sure to build a significant understanding of these laws and regulations.
These laws and regulations will control many aspects of your business, including:
- Your products
- Your marketing strategies
- The claims you make as a business
- And more
Create a Business Plan
Once you have developed an understanding of the laws and regulations of the industry, you must create a plan. In this plan, you should decide:
- Who your target customers are. This will help determine your marketing strategies and the products you decide to offer.
- Getting licensed. You want to run your business legally. This means you must follow the laws and get the licenses and permits needed for your business.
- The estimated cost of running your business. Here you will want to consider a few different questions. What is your budget for getting started? How can you stay in budget? What prices will you need to offer your products at to create a profit that is worthwhile?
- How long it may take to begin to see a profit. Starting your business will likely put you out a bit of money. Consider the prices you have set your products at and the money you have spent starting your business. With that in mind, how long will it be until you begin to see a profit for your money and time?
Find the Right Manufacturer
Here at Hemp Health Inc., we will work to provide you with the best product and services. We want to help you get your CBD wholesale business up and running smoothly and successfully.
We provide every one of our wholesalers with the things they need to be successful, including:
- Great and convenient service: You don’t have to shell out any out-of-pocket costs when working with us. You just offer the products to your clientele and collect the payments. We will then ship your order and charge your account accordingly.
- Providing answers: certain areas of the CBD industry are still a mystery to some. We are highly educated and ready to answer any questions your customers may have. Whether they be specifically about the products or about CBD in general.
- High quality products: The quality of your products is so important to building a loyal clientele. This is why we provide your customers with high quality CBD products. We want you and your clientele to be happy with the products you have purchased!
There is so much potential in the CBD industry. You just have to build a competitive business.
Building a competitive business means you have to build loyal clientele. As the years pass by, you’re your returning customers will make up a significant amount of your business. This is why you have to ensure your customers are happy.
How do you do this? Firstly, you want to provide them with high quality customer service. This includes being available to answer any concerns or questions.
Most importantly, though, you will want to provide them with great products. Hemp Health Inc. is here to help you do just that. Reach out to us today to discuss what you need to get started.