CBD sales are expected to reach $20 billion by 2024 as more people try it for the first time. This makes it the perfect time to start your own CBD business just in time to meet the demand.
If you are wondering how to begin selling CBD then the best place to start is by looking for a wholesale supplier.
Read this guide to buying wholesale CBD to get started.
Advantages of Buying CBD in Bulk
One of the biggest advantages of buying bulk CBD products is that you can get a large discount. This is especially important as the competition increases with more CBD shops opening online and in stores.
You want to be able to offer modest prices to your customers, so you need to get a good deal from your supplier. In addition, the quality of your products will also drive sales. Therefore, finding the best wholesaler is the most important part of running a successful CBD business.
Finding a Wholesale Supplier
Locating a wholesale company in the CBD industry takes more effort than other enterprises. This is because the CBD market is not regulated by the FDA. Instead, it is based on mutual trust and reputation within the business.
To ensure the quality and safest of the products you wish to sell, you need to be thorough in your search. So, start with looking at highly reputable companies that are transparent about their products.
You should find out where their hemp is grown, how it is grown, and the process by which it is transformed into various products. By analyzing their cultivation and manufacturing methods, you will discover the authenticity of their CBD.
Verify Testing Results
The next step in how to buy wholesale CBD is to look at the third-party reports of the products. Here you will find out if the contents contain less than .3% THC, which is necessary to be considered a legal CBD product.
These tests will also reveal other components of the CBD. For example, if it contains any harmful pesticides or if it is 100% organically grown.
All of this data will determine if the product you wish to buy is safe, legal, and pure.
Deciding Which Products to Buy
One of the best buying tips is to decide which types of products you want to sell in your shop. So, when you buy in bulk, you can find a wholesaler that carries these types of products.
Your options may include CBD shatter, flower, oil, edibles, tinctures, or lotions. You may decide to start with only a few of these options and then expand as your company grows. Just be sure to try a sample of each type of CBD before making a large order.
Buying Wholesale Means Gaining a Partner
When you start buying wholesale CBD you are investing in a partnership. Plan to work with your supplier for the long haul so that you can know what to expect and eventually get even better deals.
Check out our Business section for more tips on starting a successful company.