How to Make Money Selling CBD Oils

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How to Make Money Selling CBD Oils

Are you looking for a good business opportunity? 

Selling CBD Oils is a promising business venture that is current skyrocketing. It may still be new in the market, but the popularity of CBD oils has grown rapidly over the past years. It has slowly gained massive followers – from people using it for various health reasons to aesthetic purposes. 

The cannabis industry is rapidly growing, especially after the passage of the 2018 Farm Bill and its legalization in Canada a short while ago. If you want to know how to start your own CBD business and make money selling CBD oils, you have come to the right place. 

What is CBD Oil? 

There is no doubt that CBD has been making noise in the wellness product as of the moment. It has transitioned from just barely existing to being present everywhere – especially if you reside in a state where it is legal. Spas provide CBD facials, coffee shops put CBD in their lattes and beauty manufacturers include CBD oils in their products. 

Despite its massive popularity, a lot of people may still find CBD quite confusing. 

Cannabidiol (or popularly known as CBD), is a chemical compound found in annabid sativa plant (or commonly known as hemp or marijuana).  

Tetrahydrocannabinol (THC)is undoubtedly one of the most famous cannabinoids. This compound is responsible for the intoxicating effect following the consumption of cannabis. CBD, on the other hand, provides therapeutic and health benefits without the intoxication. 

What is the process of making CBD oils? 

You extract the CBD from the cannabis plant and then you dilute it with a carrier oil such as hemp seed or coconut oil. 

CBD oil has saturated the marketplace in the form of topicals, infused edibles, tinctures and more. With its immense growth, it is projected that it will reach $20 billion in sales by 2024.

Various Types of CBD Products

The CBD marketplace is diverse and fast-evolving, however, these are some of the most popular CBD products that are currently available. 

  • CBD topicals – These products are applied directly to the skin to target a specific region of the body. CBD topicals include sprays, creams, and gels for pains and aches. 
  • Vape concentrates – These products are vaporized and inhaled using an electronic device. Examples are CBD waxes and oils. 
  • CBD edibles – It’s one of the fastest-growing sectors of the CBD industry. CBD edibles include foods, candies, and baked goods. 
  • Sublingual tinctures – Placed in a small dropper bottle, you ingest the product under your tongue and let the oil to be absorbed. 

Benefits and Uses of CBD Oil (Including Side Effects)

marijuana

Cannabidiol is known to benefit many health conditions. Below is the list of benefits that you will get in using CBD oil. 

Provides Relief From Inflammation and Chronic Pain

CBD oil does not just provide relief from common pain but it also prevents the degeneration of the nervous system. People with chronic pain caused by fibromyalgia have reported relief after they used CBD oil. 

In addition, some countries like Canada use CBD oil for the treatment of cancer pain and multiple sclerosis. 

Helps Overcome Depression and Anxiety

Since CBD is a non-psychoactive compound, it can be used to reduce anxiety in people diagnosed with anxiety-related behavioral disorders such as panic disorder, general anxiety disorder and post-traumatic stress disorder (PTSD). 

Additionally, CBD reduces depression and stress. It can also help with the feeling of discomfort associated with speaking in front of a huge audience. 

Fights Addiction

CBD oil provides a therapeutic effect on people who are suffering from cocaine, opioid or psycho-stimulant addiction. It helps them overcome symptoms associated with withdrawal from these addicting substance. 

Treats Skin Condition

CBD oil encourages abnormal cell death, hence it is commonly used in the treatment of skin conditions such as eczema. It also reduces acne by regulating the oil production of your skin. 

Aids Treatment of Heart Disease

Though a common prescription for people with heart disease is to live a healthy lifestyle and have a healthy diet, CBD oil can also help. It prevents blood-pressure fluctuations caused by stress. It helps with the prevention of inflammation and oxidative stress, which are common precursors to heart disease. 

Prevents Certain Types of Cancer

CBD oil is a natural pain relief alternative for symptoms associated with cancer. Moreover, it can also prevent the growth and spreading of certain types of cancer. 

Are there any side effects? 

There is always a risk of side effects on everything that we consume to manage or prevent several health issues. CBD oil is definitely not exempted from this rule. However, there have been no reported cases of toxicity from CBD usage so far. 

A few people may experience several side effects such as a change in appetite, dizziness, diarrhea, dry mouth, exhaustion, bloating, anxiety and vomiting. 

Cannabidiol is generally safe to use, especially if you are following the appropriate doses. 

How to Make Money Selling CBD Oils

Money

With the explosion of the cannabis industry before our eyes, it’s no wonder many businessmen are eyeing this promising business opportunity. 

CBD is undeniably everywhere and not just for humans but for pets too! Starting your own CBD business is not just as simple as launching your website and waiting for your customers to flock. The road could be bumpy and you may face certain challenges. 

Making money selling CBD oils is not impossible though. Here are the tips that you can follow to achieve a successful CBD business. 

Study your Laws for CBD Oil

Before launching your CBD oil business, take some time first to learn the basic laws and legalities associated with the products that you’re about to sell. There are massive laws in place that you need to study, both federally and state-wide.

Laws regarding CBD vary by state. In some states, you can openly buy and trade CBD Oil without a prescription. Some states, on the other hand, require a prescription while a number of states don’t allow CBD at all. Several states don’t allow marijuana-produced CBD but approve industrial hemp-produced CBD.

At the federal level, CBD is legal nationally. You just have to make sure that the product that you’re selling contains less than 0.3% THC. Your safest bet is industrial hemp-sourced CBD as they are accepted across the nation and has the lowest THC level. 

Avoid the frustration of spending time and effort on finding the perfect product only to discover that you’re not allowed to sell them in some places. Do your research or talk to your local representatives to see what you are allowed to sell. Then, that’s the time that you can start building a list of inventory of products that you can sell legally. 

Obtain Your Licenses

While it’s perfectly legal to sell CBD oils, you would need to get a standard business license before you can start selling. You must also comply with the permits or licenses required by your state. This may include local permits for keeping your CBD products in stock, state licenses for selling cannabis products and food licenses if you’re making your own edibles. 

You may also need a reseller’s license, especially if you’re purchasing your product from wholesalers. Get in contact with a representative of your town, city or state to see what specific licenses you would need to start your own CBD oil business. 

Look for a High-Quality Product

A lot of people have turned to CBD oils for health, beauty or wellness reasons. Because of this, “fake” CBD oils are protruding like hot mushrooms. 

Choosing a CBD supplier is one of the most critical steps in the process of starting your CBD business. Having the right supplier can give you a high-quality product. As a result, you build the reputation of your brand as well as maintain the satisfaction of your customers. 

How can you find the right one? 

Scout several CBD suppliers and gather as much information as you can. It’s important that you study the manufacturing process. 

Here are other factors that you should consider in choosing a CBD supplier:

Pricing

Prices of CBD oils vary per supplier. We may think that the higher the price, the more potent and pure the products are. But this is not always the case. Do your research and make sure that the pricing is justified by the quality of their products. Additionally, stay away from those that offer prices that are way too low. We always find a way to lower our costs as business-owners, but make sure that you don’t compromise the quality of your products. 

Medical Claims

Though you may have read several studies and testimonials that solidify the potential positive benefits of CBD oils, these statements are not evaluated by the FDA yet. Never choose a supplier based on medical claims alone. If they boldly claim that their product is a certain cure without the FDA disclaimer on their website, be wary as this is clearly a violation. 

Method of Extraction

There are several methods of extracting CBD from industrial hemp. Each of these methods affects the quality of the product. CO2 extraction is one of the best processes as it produces CBD oils that are contaminant and chemical-free. If possible, choose a supplier that uses CO2 extraction. 

Extra Services

While your priority in choosing a supplier should be based on the quality of their product, it doesn’t hurt to check the other extra services that they offer. Some suppliers provide additional services such as private labeling and dropshipping. 

CBD Infusionz, Diamond CBD, CBDistillery, Global Cannabinoids, and Hemp House Wellness are some of the most-trusted CBD suppliers. 

Learn What Your Customers Need

SEO

With millions of products floating on the internet, it’s quite a challenge for people to see your products. To make your products visible online, learn what people are searching for by utilizing keyword research. 

Knowing what people are searching for in search engines such as Yahoo, Bing, and Google can help you understand their buying behavior. It can also help you determine the right products that would attract the highest number of interested customers. 

Affiliate Marketing with CBD Oil

Affiliate marketing is present in every industry. The rule is pretty simple. You choose an affiliate program or company, you promote their products and services and you earn a small commission for every purchase made through your website. 

You will find many affiliate programs for CBD oil. Some offer generous commissions while others offer weekly payouts. Just do a quick search and check each of these companies. 

Be careful when choosing an affiliate program as there are some that give false promises. A few claims to be a legit affiliate program only to find out that they are MLM instead. CBD Essence, Hemp My Pet, Diamond CBD, Hemp Bombs, and CBD Pure are some of the best affiliate programs that you can look into. 

Launch Your CBD Oil Business 

Depending on your own needs and goals, you can decide if you want to open a  brick-and-mortar CDB store in your city or launch your CBD business online. 

Each of these choices has its pros and cons. Opening a physical store may add rental and upkeep costs, yet you can engage directly and build a relationship with your customers. 

Opening an online store saves money not just in the initial setting-up phase but also for the entire operation. Additionally, it gives you access to a larger audience. However, competition can be tougher as there are thousands of websites that sell CBD oils. 

Setting up your own website is not that complicated at all. There are several website building platforms that you can choose from, each of them offers different features and functionality. Select a platform that fits your business needs. Take note that there are some website platforms that prohibits the sale of CBD, so make sure that you do your research first. 

Shopify, WordPress, and WooCommerce are great choices. The work does not stop after you have set up your online store. You have to provide original and good quality content on your website to attract traffic. It is also important that you do this so frequently so you can maintain your visibility on Google. 

Market Your Business

It can be challenging to market your CBD oil since some eCommerce marketing prohibits the promotion of CBD products. However, you can utilize social media and display ads to market your products. Search engine optimization can also play a huge part in increasing your website’s organic traffic. 

Conclusion

Entering the CBD industry may sound intimidating, especially with the legal and marketing challenges involved. But figures have shown us how the industry has soared heights in the past years. And it doesn’t stop there! It is expected that the CBD industry will continue to flourish. 

With tons of determination, research and hard work, you can be successful in selling CBD oils too! The future of the CBD market is promising and exciting and there’s no better time to start your own CBD oils business than now. 

 

Author
C. James

C. James is the managing editor at Wealth Gang. He has a degree in finance and a passion for creating passive income streams and wealth management.

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