CBD is gaining more recognition than ever, and more people are aware of its therapeutic properties. This gives entrepreneurs a great chance to start a business in this lucrative sector. One of the areas that is seeing the highest demand is CBD vaping products. There is still a large demand for high quality CBD infused vape juice, and this is an opportunity for anyone who’s familiar with them to make some money. Here are the steps you’ll have to take to start a successful CBD vape juice business.
Get Your Extracts from the Right Source
You want to go with a reputable supplier not only to make sure that you get quality, but to make sure that your products are actually legal. While the 2018 Farm Bill legalized CBD products, this is only limited to CBD that is extracted from industrial hemp and contains under 0.3% of THC. So, if you want to buy wholesale hemp products, the only way to know the actual content of your extracts is to go with a company that can show you a lab analysis. It’s also a better idea to go with suppliers who grow the hemp themselves.
Choose Your Model
The easiest way to start selling is to set up your own website. It’s fairly inexpensive to start, and you could get some sales pretty quick. However, if you have the means, you could also set up an actual shop, or sell your juices to people in the business.
If you want to generate some traction for your products, one of the things you could do is work with some influencers in the space. There are tons of people who review vape juices for a living, and getting a cosign from a few of them could be enough to generate buzz and get you some sales.
Choose Your Scope
You’ll also have to consider the scope of your products and the demographic you’re trying to reach. For instance, you could sell cheaper juices with strictly CBD in them, or you could sell juices that have THC in them and sell them in green states. Know, however, that there will be limitations and that you’ll have to be aware of the regulations depending on where you are and who you’ll be selling to.
You could also consider widening your product selection by offering gel caps, tinctures, or gummies for instance. This will allow you to both generate more sales and spread your brand.
Form Some Partnerships
If you really want to establish yourself as a brand, you’ll need to consider sponsoring events as well. Once you have a few sales and generated some profit, sponsoring or holding events will establish you as a genuine brand within the industry.
The CBD sector is one of the most promising at the moment, and if you understand your market and know how to cater to it, you should be able to launch a successful business. Make sure that you follow our few tips, and do your research to make sure that you start on a solid foundation.