How To Sell CBD Online
March 16, 2023 | Merchants | Dustin
CBD oil is a huge market, one which is estimated to rise to around $2.1 billion this year. If you want a piece of the action, now is the time to get your foot in your door. There are plenty of chances to make big bucks selling CBD oil products to consumers, online and offline, but once you jump in, here’s what you will need to know.
01. How To Sell CBD Online
There are two methods to sell CBD oil online with other hemp-based products. First, CBD giants market their products online with ads and high budgets. But, if you would like to construct a local business, starting a retail shop might work better for you.
The main benefit of selling CBD on the internet is that it is cheaper. Launching a retail business costs significantly more money upfront than building and maintaining a website. On top of that, starting any business is risky. If the company fails, you will lose the money that you spent on that enterprise. Because of this, many prospective CBD retailers start off with an online store and then open a retail shop when the brand is well established.
CBD Product Marketing
The most important advantage of launching a retail store is that customers can see your merchandise and ask questions upfront. This helps to put their minds at ease. Also, you are able to stock a wider range of CBD oil products in your inventory. For example, if you open a pet store, you are able to sell CBD oil goods, especially for pets. CBD oil products work well as part of a larger wellness group.
Whether you decide to go the online or the retail route, you will need to look into payment processing solutions to accept credit card payments. Since the CBD oil industry is considered high risk, you will need to seek a payment processor and payment gateway to approve your CBD oil merchant account. If you’re looking for one, you’re in the right place. Click here to apply for a free quote for your high risk merchant account.
02. How To Sell CBD Oil – COAS
CBD oil is legal in the United States as long as it’s derived from industrial hemp. Every CBD oil product must contain less than 0.3% THC. Properly sourced CBD oil is good, but ensure your merchandise comes from a reputable provider, or you could fall foul of this law.
Always double-check whether merchandise from your supplier meets the legal prerequisites for resale in the united states. Products should include a Certificate of Analysis (COA) to confirm the purity, however, you are free to send them off to some third-party testing laboratory to double-check. If you are using a new supplier, it is wise to do this for your own peace of mind.
03. CBD Oil Marketing – Don’t Make Medical Claims
Bear in mind that you’re not allowed to invent questionable medical claims about any products you sell, even if anecdotal evidence indicates the product can do what it says on the box. The FDA does not support claims made by CBD oil supplies; be sure that this message is clearly displayed on your site and from the store (if applicable). Do your research and make sure your information on the latest discoveries, uses, and regulations come from reputable sources like this one from Farma Health.
04. Registration and Accreditation
Register your business and apply for all applicable permits before you start promoting CBD oil. You can normally do most of the online. Next, look into opening high risk merchant accounts to process payments. But be aware that you’ll most likely need to utilize a high-risk merchant account provider, on account of the nature of the merchandise.
Lastly, if you choose to market online, consider using a content management system such as WordPress, as the drag and drop interface is very intuitive for beginners.
March 16, 2023 | Merchants | Dustin