Who would have thought that one microscopic, plant-derived chemical would become one of the most popular products on the market today? Cannabidiol, or CBD as it’s more commonly known, has become one of the most versatile derivatives of the cannabis plant. There are countless business opportunities when it comes to CBD.
These CBD business opportunities span quite a few fields, from starting a business in the food and beverage industry to being a CBD courier — and everything in between. You can even incorporate CBD into a health and beauty salon or make animal-friendly products for household pets.
As the modern world embraces the cannabis plant, along with its trusty sidekick CBD, there are tons of opportunities. Are you interested in starting a business venture in the cannabis industry? Let’s look at all the different options and why they could work for you.
General CBD Opportunities[1]
When deciding to enter the world of CBD, there is an abundance of exciting opportunities in store. This miraculous component of a leafy green plant can potentially lead you into a world of even more green — money, that is. And who doesn’t want that?
Let’s take a look at some general CBD business opportunities that could lead you to success:
Become a CBD Distributor
If you have the skill to sell inventory directly to retail stores, then you have an excellent opportunity to become a CBD distributor. You can even launch a wholesale distributor company. However, you may need some licensing.
Wholesale or distributor markup prices are generally around 20% to 40%. You will require a license when using this method of making a profit from CBD.
Learning the art of becoming a distributor of CBD requires you to communicate well with the manufacturers to arrange important prices, deals and orders.
Form CBD Cooperatives
Many first-time CBD sellers decide to form CBD cooperatives because they save a lot of money on taxation, raise their capital through investors and minimize outgoing costs.
The primary and most crucial goal of these sellers is to maintain a long-standing existence in the CBD industry — and a cooperative can be one of the best ways to do it. All you need are ten adults to volunteer to establish an association that encourages self-help and mutual aid in the CBD industry.
This is the perfect opportunity to strengthen your opportunities within the CBD field of business. When forming a cooperative, it should always be registered with the Registrar of Co-operatives.
Become a CBD Marketer
If you are good at technology and well informed on how social media marketing works, you can quickly diversify your source of income earned through CBD products, all through excellent marketing.
Some well-known examples of marketing CBD products include social media marketing, internet marketing, content marketing and affiliate marketing. You are likely to attract a big audience who will be interested in your content and will likely want to see more.
Popular methods of earning money through marketing include sponsorships, advertising, doing events, taking donations, as well as monthly subscriptions.
Become a CBD Blogger and Reviewer
An e-commerce company can increase its chances of selling products if its website viewers and visitors have unbiased opinions and reviews. Statistics have shown that about 92% of buyers are more willing to buy a product after reading a review they trust.
Reviewing and blogging are very powerful ways to make your SEO stronger, boost your overall online visibility and amplify any conversions. It’s also important to note that having a brand or slogan will amplify the number of your viewers.
Also, make sure you can communicate well, as bloggers and reviewers need good communication skills.
Make and Sell CBD Containers and Bottles
Packaging can make or break the sale of a product. Creating a unique, eye-catching design that’s user-friendly can set a product above its competition.
Did you know as many as 5 million bottles can be manufactured within 24 hours at a well-equipped production factory or facility?
This is a CBD business opportunity that should not be overlooked, and it is a clever way to boost your profits.
Generally, product suppliers are willing to buy products for about $1 to $2 per bottle.
You could decide to charge a higher amount. It all depends on the product information that is featured on the bottle or its design.
Just remember: the U.S. Food and Drug Administration (FDA) warns companies not to make unsubstantiated statements about CBD products, so the information you include on your labels needs to adhere to the FDA’s guidelines.
Start a CBD Courier Business
If you love the open road and are looking for a great way to enjoy your freedom while making money, you might benefit significantly from starting a CBD courier business.
You are guaranteed to find the flexible hours enjoyable, and you will have the opportunity to see new things daily.
Keep in mind that the amount of taxes you pay will depend on whether your CBD courier business is a sole proprietorship, partnership or limited liability company.
Food and Beverage CBD Business Opportunities
Eating and drinking have been an essential part of life since the beginning of time, and it has now become one of the greatest pleasures as well. Mother Nature definitely knew this when she unleashed CBC upon our world.
Let’s take a look at all the food and beverage business opportunities you can make use of in the CBD industry:
CBD Infused Snacks and Food
When CBD is ingested, its therapeutic effects are released very slowly throughout your body. Once a CBD-infused edible travels down your esophagus, it gets digested by enzymes and acids before the primary cannabinoids are absorbed through your stomach’s lining.
Producing CBD edibles requires an initial extraction of the cannabinoid in the form of oil. This CBD oil then gets infused into a carrier oil before being turned into a digestible piece of food or snack.
Your cost of production will depend on how many milligrams of CBD your edible snack or food contains. If you invest in an extraction device, you will be able to produce items in bulk. It will both be worth the effort and provide you with a good return on your investment.
Open a CBD Restaurant
If you’d like to see the happiness and satisfaction on the faces of your customers when they sink their teeth into a CBD-infused edible, it might be a great idea to launch a CBD-focused restaurant.
Needless to say, you will need to set aside both money and time, as well as a secure space where your customers can dine on your CBD-infused food.
The best thing about opening a CBD-focused restaurant is that you will be able to organize your own events inside of it. You can regularly update your menu, introduce or market new deals for special occasions or cater to specific guests.
There are countless opportunities when opening a CBD restaurant that any entrepreneur can benefit from.
Make CBD-Infused Beverages
You can excite your target audience by making CBD-infused coffee for those early mornings or a cold beverage, such as a CBD-infused mojito, to celebrate the end of those long days.
CBD drinks have gained popularity because of their anti-inflammatory effects on the human body. CBD-infused drinks are also an excellent choice for recovery after intense workout sessions.
However, it’s important to note that since cannabinoids are insoluble in water, all CBD beverages must be produced using an emulsifier in order to enhance bioavailability.
Health and Beauty CBD Business Opportunities
As we know, everything that happens inside is reflected on the outside, which is why health and beauty go hand in hand. Often, there is a missing piece in people’s self-care routines, and CBD may be just what they’ve been missing.
Let’s take a look at business opportunities for health and beauty entrepreneurs:
CBD-Infused Cosmetics
Because of CBD’s analgesic and anti-inflammatory properties, it is known to be one of the best aids for relieving soreness, pain, dryness, redness and several skin conditions, such as psoriasis and eczema.
You can choose to create your own CBD-infused cosmetics or partner with a store that places impulse-buy products, which is in the category CBD cosmetics fall in.
They may charge you a higher fee to place your items near the checkout counter, but it will be worth it.
As an alternative, you can give free samples away privately and provide your customers with a professional business card so they will be able to find you online through your website and social media accounts.
CBD Medication and Supplements
Some CBD researchers have explored the therapeutic benefits of CBD. The results have shown they provide anxiolytic, analgesic and pain-relieving properties.
However, the FDA doesn’t regulate the purity or safety of any CBD products sold as dietary supplements, so you are limited on what claims you can make.
There is also a lot of uncertainty that remains among buyers regarding the dosage and risk factors with CBD.
Opening a CBD Spa
Whatever the circumstances may be, a CBD spa is always appealing and provides you with certainty that it will keep enticing customers.
For example, did you know that a CBD massage is believed to relieve any muscle discomforts, tiredness and post-workout soreness when given in a high-class setting?
Many also believe it relieves more severe pain, including joint inflammation, arthritis, and back, shoulder and neck pain.
CBD is also proven to decrease inflammation caused by injury or strain. You can make your products more appealing by catering to athletes.
CBD Soaps and Bath Lotions
Many people believe that some receptors in the skin are reactive to the positive effects of CBD. CBD can easily be infused into solutions that can be applied topically, such as bath lotions or soaps.
CBD-infused products can be developed to have different dosages for different uses. You can also use CBD in products that have dermatologically proven benefits, such as goat milk, to enhance the quality of your products.
CBD Business Opportunities Involving Pets
Just a few years ago, people would have considered it abuse if you gave your pet something derived from a plant once considered a “gateway drug.”
Luckily, things have changed, and research has shown that our pets can receive the same benefits from CBD that we humans can.
Let’s take a closer look at CBD business opportunities where you can involve your beloved pet:
CBD-Infused Pet Treats and Food
According to data published in the Journal of the American Veterinary Medical Association, 20% of dogs (one in five) signal to their owners when they are in pain.
This information is extremely useful if you plan on developing new products for pets. These products can include medicinal capsules, dog treats, as well as many other ingestibles. Knowing the signs when a pet is in pain will allow you to market your product.
CBD-Infused Topicals for Pets
As any pet owner knows, our pets always want whatever we have. When we eat something, our pets would just love to gobble it up as well.
With this in mind, CBD-infused pet products can be targeted to those everyday people who love their four-legged, furry friends. CBD topicals for your pets can be 100% plant-based products, making them a vegan option.
Since CBD triggers a normal anti-inflammatory response in dogs, many pet owners believe these products hold lots of promise for treating animals who have neurological or physiological conditions.
Conclusion
Now that you know how many different industry sectors hold opportunities for CBD entrepreneurs, you can start your adventure. Remember to always conduct adequate research and make sure you are well informed before taking any steps toward your dream.
It’s also beneficial to note that starting a new business takes a lot of time and money, and you should never feel ashamed to ask for a partner or reach out to some investors. We wish you only the best in your CBD business ventures!
Resources
[1] https://www.bigcommerce.com/blog/cbd-business-opportunities/#tips-for-ensuring-your-cbd-business-is-successful
