How To Make Money Selling CBD-Oil
Can You Make Money Selling CBD Oil? You Betcha!
Note: this article is not financial or legal advice nor any guarantee that you will earn money. This is our story and what we’ve learned along the way. Please consult professionals for advice.
The pandemic has shifted the entire globe’s relation to health. Now, more than ever, people are keen to improve their well-being by finding alternatives to pharmaceuticals with harsh side effects. Because of the high demand, CBD has officially become a household name, with sales skyrocketing worldwide. But how can you make money selling CBD oil?
If you are interested in learning more about this business opportunity, keep reading as this is the exact topic of today’s article.
What Is CBD?
Before giving you some inside scoops into how to make money selling CBD oil, let’s first have a quick look at what CBD is.
CBD is short for cannabidiol, a naturally occurring compound found in hemp and marijuana. There are more than 100 cannabinoids found in these plants. Amongst them all, CBD and THC are the most known and used today.
Although both hemp and marijuana plants contain CBD and THC, the ratios differ. Marijuana has high levels of THC and lower amounts of CBD. Hemp, on the other hand, has significantly more CBD.
Wondering what the difference between CBD and THC and why you should care about their concentration is?
A plant’s THC is responsible for the intoxication associated with the consumption of cannabis. CBD, on the other hand, doesn’t get you high. Instead, it offers many potential benefits for your well-being. By tapping into how we function biologically, CBD may help reduce feelings of mental and physical anxiousness and improve our sleep regimen — to name just a few.
What Is CBD Used For?
If you are interested in making money selling CBD oil, know that cannabidiols have many uses and come in many forms. Not to mention you can find them almost everywhere nowadays.
CBD products are currently sold in nearly every large retailer, including Walgreens and CVS, in small brick and mortar stores, and online as well. The diversity of uses is just unbelievable. If you thought CBD comes solely in an oil or pill form and is just good at helping us relax, think again. Here are some of the most popular products you can sell to your customers if you start a CBD business:
CBD Oil
CBD oil is still one of the most recognized and sought-after methods of consumption. This is especially true for customers with no issue with how CBD tastes and who don’t mind the oil droplets under their tongue.
CBD Capsules
CBD capsules are incredibly convenient and preferred by those who are always on the run. All you have to do is swallow them with some water, and off you go. Individuals that don’t like the taste of oil might also find capsules are a better fit. The only downside is that when compared to oil, some of the compound’s bioavailability might get lost in the digestive system during metabolic processes.
CBD Edibles
Do you want to make money selling CBD oil? Don’t forget about CBD gummies. Gummies are fun and convenient and an excellent choice for people trying CBD for the first time.
CBD Drinks
With ready-made beverages and powders then mixed with liquids, including tea, coffee, water, or smoothies, CBD energy drinks are also becoming increasingly popular.
You should consider this format for your business as drinks present another option for consuming cannabidiol in a convenient, effective, and delicious way.
CBD Tinctures
Unlike oils made by suspending CBD in a carrier oil like olive or coconut oil, tinctures are made by soaking cannabis in alcohol. They can be consumed the same way as oil is by placing them under the tongue. Alternatively, you can add these to hot or cold beverages. Having a higher bioavailability than CBD oil, tinctures can be used in cooking and allow a faster absorption rate.
CBD Cosmeceuticals
CBD isn’t made to be used only internally but also to be applied on the skin. When used externally, CBD-derived products feature anti-aging and hydrating properties, amongst many others. Some of the most popular cosmetics, including CBD, are moisturizers, cleansers, massage oil, face masks, and lotions.
CBD Topicals
Topicals include any cream, lotion, or salve infused with CBD and can be applied directly to the skin. They can be used pre or post-workout to help relieve tension in the muscles or specific points to soothe aches and discomfort.
CBD Pet Products
We all know how much people love their pets. Naturally, many pet owners will want to offer their furry friends the same quality products they use themselves. To make all types of customers happy, you can also choose to sell pet treats or oil.
The type of CBD products you choose to commercialize should come down to exactly what you think your customers prefer. Do your research well, and take the time to learn as much as you can about the products you’ll sell. Sellers with a deep understanding of their products can market them better and sell them faster.
What You Need To Start a CBD Business?
We’ve already talked about how to become a CBD seller. So in today’s article, we'll focus on the first and foremost thing you need to think about before starting your business. And that’s finding a trusted CBD wholesaler! Unless, of course, you are planning to manufacture and produce your products... which is a different ball game altogether.
Getting back to finding a good wholesaler, you might wonder why we insist so much on finding the right one.
Well, it’s simple: like with everything else around us, not all CBD oil products are created equal. It’s easy to see the potential for income with cannabidiol businesses, but, at the same time, CBD products do tend to be somewhat controversial.
One issue is that there isn’t much regulation in the industry. Hence, there’s no way of knowing whether what you buy contains what the label claims.
In some cases, there’s even the risk that CBD may cause harm. With any type of consumer product, there is always a chance of risking someone else's health.
And since we assume that you are looking to make money selling CBD oil with respect and consideration for your customers’ health, the products you choose to sell need to be of the highest quality possible.
How To Find a Trusted Wholesaler
Here are some of the criteria we believe are a good indicator of a company’s practices, safety, quality, and transparency:- They provide proof of third-party testing by an ISO-compliant lab.
- Check out the company’s certifications and manufacturing processes.
- Their products are made from U.S. grown hemp.
- According to the COA, all their products have passed tests for pesticides, heavy metals, and molds.
- The products’ potency, which should be no more than 0.3% THC.
- The quality and type of ingredients used.
- Indicators of user trust and brand reputation. These include customer reviews and whether the company makes any unsupported health claims.
How To Market CBD Products
Beware of making health claims. Commonly used claims are epilepsy, cancer, arthritis, or chronic pain. These claims are unfounded and violate FDA regulations.
More often than not, entrepreneurs tend to overemphasize the potential benefits of CBD, making it sound much better than it is. The great news is you can make money selling CBD oil without talking people into misleading hopes and expectations.
Regardless of where, how, and to whom you sell your CBD oil products, you need to be particularly aware of how you label and market them. Generally speaking, it’s best to err on the side of caution. We are all different, and what works for you might not for another. Avoid making any unsubstantiated or unapproved claims, regardless of what you believe.
Keep in mind that The Federal Drug Administration (FDA) has strict policies concerning health claims made about CBD. So you have to make sure that anything you say when promoting your products can be sighted and proven. To gain a deeper understanding of this, read our article about what not to say when marketing CBD.
How Much Money Does It Take To Start a CBD Business?
You probably know by now that you can make money selling CBD oil. But how much does it take to start your business?
On average, the amount you’d need to start a supplement company is between $5,000 - $10,000. That’s, of course, if you decide to go with a manufacturer who has pre-made formulas.
What this initial investment will usually give you is:
- Initial product inventory
- Labels and packaging
- A website
- Insurance
A CBD business owner should invest in quality design. Many potential customers might base their CBD choice on packaging alone, so it’s vital to have a professionally designed one.
The ongoing expenses for a CBD business can be manageable. These typically include advertising expenses, the rent of a brick-and-mortar location, the cost of ordering new products, paying insurance premiums, and any employees’ salaries.
What’s The Deal With THC?
Yes, we know that you want to make money CBD oil. However, don’t forget to stay away from legal problems too. With this in mind, the most important thing you need to know when selling CBD products is that if your CBD comes from a marijuana plant, it's illegal.
If your CBD contains THC (more than 0.3 percent), it's illegal.
The issue is that, with the extraction processes for CBD and THC being essentially the same, CBD can easily be contaminated with THC, chemical solvents, or pesticides. This might happen if the extraction isn’t done correctly, hence the importance of working with a trustworthy manufacturer and wholesaler. You must always ensure they control these practices regularly.
Misunderstandings about the THC percent have caused legal problems to companies in the past. Never forget that today is legal to sell CBD both nationwide and to many countries around the world, as long as it remains within the maximum THC limit of 0.3%.
CBD-Oil Business Essentials
The CBD market is enormous at the moment. People are now aware of how they can improve their health through lifestyle changes and natural alternatives and are ready to give them a chance.
The best part about CBD products is that they can help the body and mind regardless of age, gender, or occupation. When selling CBD, you're helping your customers attain well-being despite the busy lives most of us lead.
If you are thinking about how to make money selling CBD oil, whether you decide to dropship, private label, or manufacture products yourself, you need to find an excellent supplier to source your CBD from. Don’t forget to fulfill all the legalities and find out the most profitable and hassle-free selling options. Here at Opulent Organics, we offer low minimums, great discount pricing, and a dedicated rep guiding you along the way to help you get started. Click here to get started.
If you have any questions or need some advice on how to start a CBD business, don’t hesitate to get in touch. We would be more than happy to offer a helping hand.
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