CBD is growing at a rather ridiculous pace. With a market capitalization of about a billion dollars in 2020, CBD is reported to see an exponential 5 billion dollars in 2025. The CBD industry is ripe for investment and there are many entry points.
Entry points into the CBD industry include manufacturing, marketing, selling. However, for this piece, we will focus on how you can sell CBD online. Here are a few tips you should consider before starting your CBD online business.
While the 2018 Bipartisan Farm Bill has passed selling hemp CBD, not marijuana, into law, anyone can produce, sell, and market CBD products. However, while this law is great, different states have their requirements for producing, marketing, and selling CBD, so you should read up on your state’s CBD processing laws. Lastly, all states require that CBD sold must have THC level less than 0.3%.
Promote your Product on Social Media
There are literally millions of people who want to try out their first CBD lotion or salves or balm. There are also millions or are on the lookout for new vendors. Leverage on social media to promote your brand and generate sales.
CBD businesses thrive on information. If you want to succeed as an online CBD merchant, you must be willing to write and publish consistent and up-to-date information about CBD practices, products, laws, and more.
If you want to sell CBD products online, just like any other business, you will need a payment gateway; however, CBD is under the high-risk industry and it may be difficult to find an institution willing to process card payments for your business. That’s where we come in. We help people open payment gateways for high-risk merchant accounts and accept payments for their products.