How To Sell CBD Oil Online [Infographic!]
If you don’t have time right now to read the whole blog, scroll to the bottom to take a look at our infographic that provides a brief overview of how to sell CBD oil online!
What Is CBD?
If you’re looking into how to sell CBD oil, it’s important to know exactly what CBD is. CBD is short for cannabidiol. It is a substance derived from the cannabis plant, but does not contain THC (tetrahydrocannabinol) which is the compound responsible for the “high” feelings associated with marijuana. CBD itself is completely non-psychoactive, and is rich with health benefits.
CBD has been known to help combat stress, chronic pain including migraines and joint pain, indigestion, reduce seizures, slow the process of developing diabetes, and even help fight cancer.
Is CBD Legal?
If you’re looking into how to sell CBD oil, it’s good to know the legality of selling CBD products. CBD comes from the marijuana plant, but as long as the oil derived from it is less than 0.3% THC (the psychoactive ingredient of other marijuana products), it is legal in all fifty states. It is important to make sure that you’re sourcing your CBD oil from a reliable source, and obtaining a COA (or Certificate of Analysis) to make sure your CBD products comply with all the legal restrictions.
If you’re just starting in the CBD industry, or considering it, many people may ask, “why CBD?” Aside from all the health benefits that bring healing and relief to many CBD users, the financial aspect of the CBD industry is also pretty compelling. The CBD market has been continually on the rise in recent years, and it is estimated to grow to $2.5 billion in consumer sales by 2022. 1 in 7 U.S. adults personally use CBD products, and with education and research becoming more widely available, that number isn’t going to be declining any time soon.
What Kind Of CBD Products Should You Consider Selling?
There are several different kinds of CBD products available. If you’re looking into how to sell CBD oil, a good place to start would be to consider what type of products you would be interested in marketing.
Produced by steeping cannabis flowers in a grain alcohol solution, then applying low heat for an extended period of time. The result is a concentrated liquid that does not require smoking or any other form of inhalation. A tincture is designed to be taken in small doses, particularly under the tongue or mixed in with food.
An edible can be any food product or nutritional supplement that has been infused with CBD oil. Edibles are often chosen because they mask the somewhat earthy taste of the hemp plant.
CBD isolates are the chemical components derived from the cannabis plant, and often said to be the purest form of cannabis because of the precise extraction process. The concentrated chemical is split from the plant, purified, and then winterized to remove any plant particles, waxes, or unneeded components.
A CBD capsule is a convenient way for CBD users to get a very precise amount of CBD in a daily serving. Sometimes these capsules may incorporate other nutritional supplements to create a specific blend of CBD supplement to suit your specific needs.
Any topical solution that has been infused with pure CBD oil, including lotions, gels, balms, salves, creams, and ointments. A topical CBD product is applied directly to your skin absorbed through your pores into your body. For people wondering how to sell CBD oil products that are more easily produced and widely used, CBD topicals are a great direction to pursue.
How To Choose A CBD Supplier
Here are our top things to look out for when choosing your CBD supplier:
The quality of CBD can be determined by a lot of things, but the root of its’ quality will be in how it is grown and sourced. The hemp plant is a bio-accumulator, meaning it is capable of absorbing both good and bad properties and chemicals in the air, water, and soil in which it is grown. Make sure your supplier offers organically sourced hemp, and it is farmed in an environment that is free from harsh pesticides or dangerous chemicals. Finding a local supplier can be an even safer option, as you have the credibility of being able to oversee some of the growing process with your own eyes.
Most CBD is extracted from the leaves, flowers, and stalk of the cannabis plant. The extraction process involves the use of solvents which can contain harsh and harmful chemicals. The highest quality CBD will come from an extraction process that predominantly uses carbon dioxide, not ethanol, butane, or kerosene. Make sure you understand your suppliers extraction method, and be wary if they seem unwilling to disclose their processing and extraction method.
Certificate of Analysis (COA)
A COA is a document from an accredited laboratory that shows the quantity of various cannabinoids (and contaminants) in a product. These certificates are important not only for understanding the contents of your oil, and making sure it’s safe for consumers, but also being able to truthfully advertise your product and know the purity and potency of the product you are marketing.
Labeling & Claims
Although CBD is no longer considered a controlled substance, the FDA has not legalized CBD for sale as a nutritional supplement. There have also been many studies that support the benefits of cannabidiol, but suppliers are not legally allowed to make definitive claims about the benefits of CBD oil. If a supplier is making definitive statements about the medical properties of their CBD product, or claiming support from the FDA, you should look into another wholesaler. They are obviously not honoring honest business practices.
How To Find A Merchant Processor
Before you start, it’s important to know that finding a merchant processor for your CBD may prove challenging. Although CBD oil is legal in all fifty states thanks to the 2018 Farm Bill, it is considered a high-risk investment by some banks and merchant processors.
In fact, many will not allow you to sell CBD oil through their platform at all. The few merchant processor platforms that DO allow you to sell CBD oil may charge a significant amount for payment processing. As awareness and education in CBD oil increases, these platforms may begin making allowances to sell CBD oil online, but you should be aware that this step may prove challenging as you are launching your online business. Contact us for a referral to our partner merchant processor, who not only charges reasonable rates and fees, but also has great customer service in place to meet your needs.
Plan Your CBD Website
In order to create a dynamic website and an innovative marketing strategy, it’s important to choose an agency that has experience and knowledge regarding the CBD industry, and has all the functionalities and features you’re looking for for your eCommerce store. Hiring a company to build your website that already knows many of the ins and outs of how to sell CBD oil can put your CBD business weeks, months, or even years ahead.
It’s vital that you put just as much strategy and planning into your website as you would if you were to open a brand new physical store.
When coming up with a website strategy, a crucial factor to consider is your audience. The demographic that predominantly purchases CBD products is also the demographic of customers who most prefer purchasing online versus in brick-and-mortar stores. By offering a website, you increase your sales potential to include your ideal demographic and create a sales experience for them that is safe, easy, and streamlined.
A huge benefit to starting your CBD business online is that as laws and taxation regarding CBD continue to fluctuate, the sustainability of an eCommerce website as opposed to a physical store is also much more promising. Online startup costs also continue to ring in at a fraction of the initial investment cost of a physical location.
epicShops has seen great success from our website platform that currently hosts a number of CBD websites. With over a decade of experience in the eCommerce industry, we know all the key strategies and features that will make you and your CBD eCommerce site a success.
If you’re planning to sell CBD oil, don’t do it alone. Have the experts give you a hand! Contact epicShops today!