CBD is all the rage right now. Naturally, there are lots of people looking to get in on the action and make a quick buck. CBD isn’t exactly a get rich quick scheme, but it can certainly form a solid foundation upon which to build a business.
If you are considering starting your own online CBD business to make money while you are living abroad, here’s what you need to know.
Know the Product
If you are going to be selling CBD, you need to know about it. It is important that you research the product thoroughly and make sure that you understand exactly what it is and what it does. It is also important that you check out the science behind CBD. This is especially important if you are planning on selling CBD products as a health item.
There is a lot of good evidence to suggest that CBD does have a number of legitimate medical uses, and may even be the primary mediator of cannabis’s medical effects. However, there are limits to its health benefits, and it is not the panacea that some people are claiming it to be.
Decide Which Forms to Sell
There are a number of different forms of CBD; it can be delivered in food, in oils, in e-cig liquids, and a whole host of others. The forms that you sell will depend on a number of factors – not least of all will be the kind of storage infrastructure you have access to. If you want to offer your customers edibles, then you need to be able to store food for extended periods of time.
Similarly, if you want to sell liquids and extracts, these also need to be stored properly. You will almost certainly have to invest in some kind of refrigeration storage. If you are running a small business, you can probably get away with using a standard albeit large home fridge. You can move on to commercial fridges when your business is large enough to warrant it.
Check the Local Laws
In some cases, the products that you will be able to ship to certain areas will be restricted by certain laws and regulations. For example, in most countries where cannabis is illegal, you can still buy and sell hemp seeds CBD from wholesalers like Cope CBD, but production in fact must be done using hemp plants – the male cannabis plant – not the THC-containing female cannabis plant.
However, there are some exceptions to this. There are some parts of the world where it’s illegal to buy cannabis seeds. There are even some states in the US where it is illegal to possess CBD. Prosecutions are exceedingly rare, but they have happened.
Make sure that you are clear about what parts of the world you cannot legally sell your products to. If someone orders your product and you ship it in contravention of the local laws, you can get in trouble. This can potentially exacerbate some of the other challenges you will face, such as the need to arrange payment processors and banking.
Once you have worked out what you are going to sell, you then need to establish how to sell it. Identifying a payment processor and banking partner will again require you to check local laws and payment processor’s policies.
While there are a few things to consider, you can certainly make your CBD business a success with enough research and dedication.