With CBD oil trending and on its way to take over the healthcare industry, I know there will be many who will want part of the glory.
You can also become a CBD retailer in the year 2019 just like so many other upcoming retailers, one such prime example being Assured CBD.
The journey to become an upcoming CBD oil retailer in the year 2019 from just being founded in the year 2018 was not easy. There were so many obstacles we had to cross but from the place, we are standing it was all worth it.
We would like to share what are the experiences we gained in that journey since it is all fresh in our mind. It is always important to take brands existing in the market as a benchmark to come up with a solid plan, this really helped us.
we took in account of two popular such as Charlottes Web hemp and Nuleaf Naturals as a case study so let me give some certain insight on how the got established in this field and a short insight on our journey.
Charlotte Web Hemp review
Charlotte Figi, a little girl is the one to give inspiration to this company. A journey started by 7 brothers has become much more now. They hold a leadership position in the world of CBD retailers. Their mission to supply high-quality CBD products to cater to people’s body, mind and soul needs has got them this far.
Nuleaf Naturals review
Nuleaf Naturals who established their very own CBD retailing company in the year 2014 have become one of the top players in this business in 2019. They are also a top pioneering company we should take up as a benchmark. Their commitment to the craft they practice has achieved them this success.
Assure CBD oil review
We Assured CBD is still new but the reason we have become a growing CBD oil retailer in a short period of time is that we always ready to give our full commitment to carry out every single step in becoming a CBD oil retailer. Our exclusive success story is available for you to read in our blog!
Guide to start your own CBD oil business:
As promised before, let me give you a few guidelines to start your very own CBD business. This has been put together through research and the success stories of established people in the business.
- Market Analysis They say you should always look before you leap, so before getting into this market, conduct an analysis. Research about who will be your competitors and the tread pattern. You can adopt a very famous market analysis tool for analysis.
- Know the law Understand the law regarding CBD and know it like the back of your hand. Without knowing this you may take many wrong steps toward this journey. There are always new changes in the CBD law but taking the time to read through everything will help you set up a business without getting into any legal trouble. Better yet hire a legal attorney who will keep you informed.
- Offline or Online business This might be a tough decision, deciding whether your business is going to be based as a brick and mortar store or have an online presence. Having an online presence is much better when it comes to cost and to reach to a larger group of consumers. But the choice is yours. If it is offline, choosing the perfect location to set up your retail store should be your top priority.
- Hire experts The key to becoming experts in this field is to hire experts who will be the greatest asset to the organization. When it comes to hiring staff for a CBD business, they should have charm as well as the educational background in medical and healthcare to assist you. And due to the stigma surrounding this business, all your staff should have the look of a business professional not that of a “Junkie” which you might be surprised that what many expect to see.
- Project planning Come up with a solid project plan, this is also to give your investors more trust in your business plan. List down the utilities you will be needing for this venture. As an entrepreneur, you should think about all the facets beforehand. This step should involve the name of your company and the registration process and the plan for how you are going to set it up.
- Plan the Budget For any business plan, you need finance to fuel. Plan the Budget you need to fuel your CBD retail business. Make a spreadsheet of things you should put money in. coming up with a solid Budget plan will inspire more trust in your investors on your business. Also predicting the profit and loss statement for at least for the next three year will help.
- Talk to the manufacturers The product is the star of the show. Try to get yourself the best manufacturers of CBD out there. Always prefer the ones who have been established as a family business because due them being a long time in this CBD oil manufacturing business, there is a probability they know every nook and corner about CBD oil. There are many CBD suppliers who hold a good reputation out there. Getting hold of good wholesaler also might be tricky if you don’t know where to look. With the rise in CBD business, finding a wholesaler will be easy, finding a good one might be tough. Always rely on your research to cross this obstacle. Also looking at the supplier COA (Certificate Analysis) of the THC and CBD levels in their product inspires trust and quality.
- Marketing strategy Come up with an unbeatable marketing strategy. Since it is a CBD business it is important to come up with a marketing plan that helps you Break stereotypes and inspires trust in your future customers. Digital marketing is one of the trending methods to reach out to a large customer base.
- Execute the whole plan Put the plan into motion, this step will be tough if only you didn’t give much importance to the before step. With good planning executing can become easier. Make sure you followed up on what you have planned doesn’t mean you cannot make spontaneous changes in the middle. Try to stick to the budget you have planned. Be hands-on at every executing point.
Looking at success stories will boost your whole CBD oil business plan. With CBD’s already existing popularity you just to deliver quality products and have something that makes you stand out from other players. Then you can also be a success story!