The CDB industry is predicted to be worth more than $25 billion by 2025. CBD products like oils and edibles have seen a considerable rise in popularity over recent years. 

These products have been used to help with pain relief and alleviate mental health issues like anxiety. 

If you’re thinking about getting into this growing industry, you might be wondering exactly how to start a CBD business. 

How to Start a CBD Business

Starting a CBD business is both very similar and very different from starting other businesses. There are some specific regulations and practices you’ll need to be aware of. 

Here are seven tips for starting your CBD business. 

Figure Out Your Product

It’s important to know what you’re going to sell. CBD products are incredibly varied. A list of common CBD products is:

  • Oils (drops and sprays)
  • CBD Vapes
  • Edibles
  • Capsules
  • Tinctures

You can focus on selling on as many or as little as these as you like. Just identify what it is you want to sell. 

What types of CBD will you be using? Full-spectrum CBD will contain other cannabinoids, and isolate CBD will be pure.

Find your Target Market

Take your time to do your market research. Your CBD business cant tailor to everybody.

Ask yourself some questions to determine who you should be selling CBD to. How old are they? Where do they live? What do they do for work? What are their values?

These will all help you pick who you’re best suited to sell to. 

Pick a Good Name

Naming a CBD company can be tricky.

It can be hard to acquire a bank loan if your business name contains “CBD” or “Hemp” or any other cannabis-related name. Try to pick a subtle name that still conveys what your business is all about. 

A quick tip: once you’ve got your name, be sure to run it through Google and check the domain hasn’t already been taken.

Know the Law

There are some significant dos and don’ts when it comes to CBD products. 

The 2018 farm bill allowed for the legal sale of CBD products and the industrial-scale manufacturing of hemp products nationwide. But there are a few stipulations. 

The major stipulation is that the hemp plants grown to produce your CBD products must have 0.3% THC or less. You should also be careful when making health claims about CBD products. 

Currently, in the US, CBD made from marijuana plants is legal in 15 states. 

Find Your Supplier

In light of the legal considerations posed above, finding your supplier is a vital part of the process. 

The best CBD businesses will source their plant product from reputable suppliers.

If you plan on selling your product nationwide, you’ll want to make sure that you’re being supplied with CBD made from hemp and not marijuana plants. 

Build a Website

This one is just good business sense. The CBD world has grown in popularity largely thanks to the internet.

Having an online presence is an excellent way to attract customers. It also allows people to browse your catalog and get a sense of what your business is all about. 

Advertise Your Business

You’ve got your product, chosen your name, gone through all the legal checks, and identified your target market. Now you need to let them know you’re there. 

CBD remains somewhat understood, so when you advertise CBD online, make it clear, creative, and engaging. 

Run Your CBD Business

Starting a business is one thing, but starting a CBD business is a whole other subject. Luckily, now you’re ready to build your CBD empire. 

If you enjoyed this guide on how to start a CBD business, check out more of our business articles for more top tips and advice.