The CBD market has never been bigger or more competitive. The CBD market has been predicted to have a market value of almost £1 billion by the year 2025. With such exceptional predicted growth, companies all over the world are jumping on the metaphorical bandwagon to make their own CBD products and be part of the hype. However, with such competition, it can be hard to stand out and stay afloat. Buying CBD wholesale is the smart move if you want to enter the CBD market as a business. This article explains the top things to consider when buying wholesale CBD and how it could be the perfect solution for your CBD business.
What is CBD?
CBD is also known as cannabidiol and is a natural supplement that is fast taking over health and wellness spheres. It is one of 113 chemical compounds that are found in the resinous Cannabis sativa plant. CBD is often confused with tetrahydrocannabinol, or THC, the famous primary psychoactive compound found in the same plant. Because of this close connection, many people mistake CBD for having the same effects as THC, but this is just not true. CBD is not psychoactive, at least in the same respect as THC, and cannot cause a ‘high’. Furthermore, research has suggested that CBD can reverse any psychotropic effects caused by its cousin compound, THC. Therefore, much of the stigma that finds itself attached to CBD is caused by misconceptions and a lack of understanding.
CBD is believed to be a beneficial natural supplement to a healthy lifestyle. As this belief spreads, so does its hold on the health and wellness scenes. It is thought that taking CBD daily can be a beneficial addition to our lives, bringing a sense of groundedness and equilibrium to our busy everyday lives. While research is still in its preliminary stages, data collected so far appears to support this theory.
What is Wholesale CBD?
The term wholesale refers to a business that buys vast quantities of goods directly from distributors or manufacturers before reselling them. This is also an option in the CBD market. Many businesses turn to wholesale CBD for a variety of reasons. Two of the biggest reasons are the cost-effectiveness of going this route and the ability to source high-quality products to help expand your business. Buying CBD wholesale is often seen as the smart option, but it is essential to be aware of a few factors before diving in.
What to Consider
Consider the pricing as well as the selection of CBD products available.
When it comes down to considering a wholesaler, make sure you study their products as well as the price points. The type of product is critical. It is typically a good rule of thumb to stick with a CBD manufacturer offering mainstream and marketable products. If they stock many unusual items, such as CBD spice, be aware it may not sell as well as something more universally used such as CBD edibles or vape juices. And in terms of pricing, do your research and try to find a wholesaler with excellent value for money without skimping on the CBD quality itself. Some CBD wholesalers offer a staggering 50% discount, so it is well worth the research time to bag yourself a premium deal.
Be aware of what kind of product the wholesaler is offering.
It is essential to do your research before approaching a wholesaler. The first thing it is important to know is the THC content of the CBD that the wholesaler is producing. In the UK, the legal limit of THC is 0.2%, and so if you invest in a product that contains more than this amount, you are breaking the law. It is irrelevant that you or your business didn’t harvest it, so it is vital to double-check that their THC levels are law-abiding to keep yourself within the law. Secondly, all CBD products should originate from organically grown hemp. If the product from the wholesaler is found to contain pesticides or insecticides, do not invest! Thirdly, investigate the type of CBD they are offering, whether it is full-spectrum, broad-spectrum or CBD isolate. This choice will determine what is included in the CBD, such as amounts of THC. To ensure that all of the above is guaranteed, you need to view third-party lab reports. The best wholesalers will include lab reports with each product batch. If evidence is hard to find, this could be a red flag.
Consider the shipping.
A CBD business must receive its goods fast as the whole business relies on a quick resale. If you are unable to provide your customers with their purchased products within a timely basis, you will risk angering them and losing some of your customers as a result. As a ballpark, it should take a few days for a wholesaler to send their items. If it is much longer than this, it just isn’t productive or efficient enough. In a huge market, a lack of speed and efficiency could spell the end of your business. It is also wise to consider whether the wholesaler provides you with free shipping. This is often a sign that they are keen to have you as a return customer and are not just interested in your pockets.
Look at samples before committing to a deal.
Make sure to take a look at the packaging and consider whether it is well-designed and if the products will be easy to store. You must consider if the customer’s eye will be drawn to the packaging and display of the CBD in question. If not, you may struggle to get sales.
Finally, consider the marketing support.
If you work with a wholesaler with fantastic marketing, it will be much easier for your business to make a breakthrough. Good marketing is vital as it tells potential consumers about the potential positives of using CBD and piquing their curiosity with your products.
CBD is ever-increasing and has no signs of stopping. Therefore, many businesses are turning to work with CBD wholesalers to help them get ahead and be a cut above the rest. While it is a fantastic opportunity for many hopeful businesses, there are several things to consider when reaching out to a wholesaler, such as the quality of CBD offered, the marketing support available, and shipping costs (if any). If you follow our tips when buying CBD wholesale, you will have a great chance of running a successful CBD business with the help of a wholesaler.