When the federal government legalized the growing and selling of hemp in December of last year, it opened up a huge potential industry. Hemp is an incredibly versatile product, which can be used for all sorts of different applications, from farming to manufacturing and more. But not only that, the new law also opens the door for hemp-based CBD, and a wide of CBD products.
As more and more states allow CBD to be bought and sold, and stores even make them available on their shelves, it’s a great opportunity for someone with an entrepreneurial spirit to get in on the ground floor of an industry that’s only going to keep growing. So how do you start your own CBD retail business? It’s not an easy task, and there are a number of factors to consider. Let’s begin with the basics: products you can sell. Here are a few of the most popular types of products on the market that contain CBD.
Pain Relief Products
One of the things that CBD is best at is relieving pain. For that reason, cannabis is legal with a prescription in more places than it is without one. However, where CBD is legal, there are plenty of over the counter pain products available.
In particular, there are a variety of topical products containing CBD that can help relieve things like joint pain, muscle pain, inflammation, and general soreness. These products include creams, balms, salves, and even sprays, that can be applied to the affected area and facilitate pain relief.
In some states, CBD can also be purchased in pill form. However, pain relief pills fall under the jurisdiction of the FDA, which still does not allow any CBD products. Therefore, anything consumable is not covered by the federal law.
The legal issues in general can be a bit complex when it comes to CBD. Even though it’s been legalized at the federal level, there are still only certain state laws that permit it. And different states have different regulations for exactly how it’s allowed to be used and sold, how much THC is allowed, and more. Do your research for your particular area, in order to figure out which products you can sell, and which ones might give you problems.
Beauty and Skin Care Products
In addition to pain relief, there’s a wide range of beauty products that contain CBD. For one thing, it’s thought to be useful in reducing acne. As such, CBD skin care products have become a major trend lately. That includes lotions, moisturizing creams, lip balms, oils, and even bars of soap.
Some say that CBD can also improve your skin in general, so there are products that moisturize, exfoliate, reduce redness and puffiness, and much more. There’s also CBD makeup available. It’s used instead of beeswax in certain mascaras, to create lash volume. Not to mention, CBD sleep masks, wrinkle cream, bath bombs… the possibilities are virtually limitless.
These are just a few of the products that you can sell. To decide which ones are right for your business, ask yourself what kind of service you want to provide for your customers. Do you want to be a general supplier of CBD products, or would you rather have a niche? Do you want to sell high quality beauty products? Exotic skin care solutions? Low cost (but effective) pain relief? Once you know what it is you want to give your customers, focus on the products that will help you provide that.
But where do you go to buy your CBD products? How do you find a reputable supplier, and what do you need to look for? We’ll cover that in our next installment of How to Start a CBD Retail Business, entitled, Finding Suppliers.