CBD is a hot new supplement that has become wildly popular. As of a year ago, an estimated 14% of Americans have tried CBD and those numbers have only increased since then. Indeed, according to new estimates, the CBD industry is expected to double its sales every year for the next three years.
These are monstrous numbers, and they present tremendous opportunities for people who are interested in getting involved in a hot new market. Indeed, if you are interested in expanding your business reach, CBD may be perfect for you. Here’s a closer look at what CBD is and how you can use it to make more money.
What Is CBD?
CBD is short for cannabidiol. CBD is a cannabinoid, which is a specific type of compound that comes from the cannabis plant. To be clear, it is a distant cousin of marijuana, but it is a very different chemical. CBD cannot get you high and contains only trace amounts of THC, or tetrahydrocannabinol, which is the cannabinoid responsible for marijuana intoxication.
CBD was legalized at the federal level with the passage of the 2018 Farm Bill. As a result of that bill’s passage, CBD can be sold anywhere in the United States, provided that the corresponding state has no contradicting regulations or laws.
Research on CBD is still ongoing, and with some very narrow exceptions, medical claims cannot be made about the compound. However, some studies have found that CBD has benefits for many different physical & emotional ailments, including:
- Various types of pain
- Numerous mood challenges, including depression, anxiety, and stress
- Sleep problems, like insomnia
How Can CBD Be Sold?
The passage of CBD legalization at the federal level was vitally important because it cleared the way for CBD to be transported, manufactured, and sold across state lines in the United States. Indeed, since the 2018 Farm Bill was enacted, a wide array of CBD websites have popped up on the internet. Website sales remain one of the more popular methods of CBD sales in the United States.
CBD is also sold in a wide array of brick and mortar stores in the United States. These stores have grown in popularity as CBD has grown.
However, like any maturing market, the methods by which CBD are sold are also growing and expanding. Sellers are getting more creative: There are now even some stores that sell CBD out of vending machines.
It is important to keep in mind that credibility is key when it comes to CBD sales, as previous studies have found that bad CBD vendors are selling the compound and mislabeling its contents. As such, it is very important that any CBD vendor get their product tested by a third-party who can confirm the ingredients of a CBD product. This process is expensive, but it can help you build trust and credibility within the CBD market.
CBD comes in a variety of formats, including tinctures, edibles, creams and balms, pills,and more. There are a variety of ways CBD can be used by anyone.
What Are Some Good Sample CBD Products?
One of the best things about CBD is its versatility. As noted above, CBD has tremendous flexibility, and you can sell it in a variety of formats. Some examples include:
Customized CBD Boxes
The idea behind custom CBD boxes is that you sell a CBD “kit” containing customized products. You can alter the price and personalize the box based on the interests of your customers.
Specific CBD Sampler Pack
CBD’s versatility can almost be intimidating. After all, since there are so many ways of consuming the product, how do you know what is the right way? As such, a sampler pack can help someone find a CBD product that works for them and help ease them into the world of CBD.
Packs meant for specific problems
Some studies have found CBD to be helpful in specific areas, like helping a person get a good night of sleep. As such, one of the things you can sell is specific kits geared towards helping someone sleep. These kits can contain a variety of products (like CBD balms and a CBD-infused pillow) designed to address specific conditions.