Selling CBD Online: A Quick Guide
The hemp compound CBD receives a lot of attention in today’s market. CBD oil and other wellness products containing CBD have rising popularity in consumers looking for natural health remedies. If you want to tap into this emerging market, you need to do your research. This guide will give you an overview of the online CBD industry and how you can make a profit in it.
An Overview of the CBD Industry
According to the Hemp Business Journal, the CBD market will reach a value of $2.5 billion by 2022. Online CBD businesses sell a variety of products, including infused food, edibles, concentrates and oils. Since legal CBD products come from hemp and have insignificant amounts of THC, customers across the country appreciate its health benefits. Joining the CBD industry means becoming part of a new wave in the American market.
What Are the Laws Surrounding Online CBD Sales?
Near the end of 2018, hemp-derived CBD became a federally legal product under the 2018 Farm Bill. Businesses may sell CBD from hemp plants that contain 0.3% or less THC, the psychoactive component of marijuana. Since hemp-derived CBD has legal status under federal law, you may sell it online across states. However, we recommend reading the law in detail before finalizing any sales.
The Benefits of Selling CBD Products Online
You may consider selling CBD online instead of in retail for advantages such as:
- More affordable set-up: Setting up an online store involves building and paying for an online presence, which both cost less than getting a physical storefront.
- Lower operational costs: Website fees and the other expenses associated with eCommerce tend to have a lower price than those required for a storefront.
- Larger audience: An online store empowers you to sell products to customers across the United States, giving you a large marketing audience.
Thanks to eCommerce technology, you have an accessible option for selling CBD.
How to Sell CBD on the Internet
Beginning your online CBD business involves the following steps:
- Register your business and web presence: Complete the necessary forms to become a business under federal and state law. Then, establish a website or selling platform account.
- Choose a supplier: Look for a reputable CBD supplier to become your partner. Remember to research their pricing, sourcing and extraction processes.
- Set up your inventory management software: Install an inventory management solution like Finale Inventory to automate your operations.
With the right research and due diligence, you can start a profitable, reputable and legal CBD business online.
CBD Inventory Software From Finale Inventory
Finale Inventory makes managing your store’s CBD inventory simple. Coordinate customer orders, selling platforms, reordering points and more through our easy-to-use solution. When you count on Finale Inventory, you can organize your products in one space that updates across your online stores. With a customer representative helping you set up your software to suit your needs, you can lead your CBD business to success.
Discover a Personalized CBD Selling Inventory Software
To find out what Finale Inventory can do for your business, try our free 14-day trial today.