Since the U.S. government reformed how it regulates hemp production with the passing of the Farm Bill in 2018, the CBD industry has experienced a massive period of growth. According to a recent study, the CBD market could reach $20 billion in the next 5 years, making it one of the most popular and profitable fields in modern America.
Many small CBD distributors have emerged over the past year because of the recent soft-legalization of hemp and the financial benefits of entering the CBD sector. If you’re interested in getting in on the action of this viable trend, keep reading to learn the key steps to becoming a CBD distributor.
Step 1: Understand the Product
Educating yourself on the ins and outs of hemp products will greatly improve your chances of becoming a successful CBD distributor. Distributors with a more well-rounded understanding of the CBD manufacturing process, how it works in the body, and its health benefits become a reliable source in the industry that people feel comfortable working with.
After you’ve done your research, you should create an outline for a sustainable business plan with detailed information on your target audience, revenue streams, and marketing strategy based on your findings.
When you’re ready to make your first bulk product order from a trusted CBD manufacturer, request informational materials from your sales representative so that you have the proper knowledge for yourself and your customers.
Step 2: Register Yourself as a CBD Distributor
After conducting your research and creating your business plan it’s time to become an accredited CBD distributor. In order to avoid legal trouble, you’ll need to register your business and apply for a seller’s permit. Regardless if you’re planning to sell CBD oil out of your home or from a place of business, you’ll also need to apply for a resale license because any reputable CBD supplier will require its distributors to have a license number.
Step 3: Set up an Online Store
According to recent findings, 22% of all CBD oil sales occur online. Securing a domain, website, an eCommerce store is one of many crucial steps you’ll need to take before starting a CBD company. Make sure that whichever web host you select allows the sales of CBD oil on their platform.
Step 4: Choose a CBD Oil Supplier
The CBD oil supplier you select is one of if not the most important factor in becoming a successful CBD distributor. Because CBD oil is still in the very early stages of legalization, it’s very important that the CBD supplier you work with strictly follows the legal rules and regulations of the industry.
At Hemp Labs of America, we pride ourselves on harvesting the highest grade of CBD. All of our products and ingredients are made and sourced locally. We ensure that our products are safe, effective, and affordable to fit your business needs and we are constantly developing new ways to increase the effectiveness of our CBD manufacturing process to better serve our clients.
The CBD industry is experiencing its hay day and it’s never been easier to get involved. By following this guide you can begin your journey to becoming a successful CBD distributor. If you’re interested in using Hemp Labs of America as a supplier, we can help you with everything from custom formulation to production, packaging, and branding. It really can be easy as turning a key to turn your white-label CBD business idea into a reality!