Over the years the market for CBD continues to grow. In 2019 it has increased by 700% and is looking to hit $13 billion by 2023. This can only mean 1 thing. The industry is growing and getting better as the years progress. And supplying CBD and White Label CBD is going to be a great business to consider.
If you are planning to start wholesaling, below are things that you need to consider when buying bulk CBD products. All these factors will play a huge impact on your business.
The extraction process and source method of CBD
Knowing the source of CBD is very important and essential above all. You need to be sure that the source you are working with is trustworthy, has a good reputation, and is reliable. You need to ensure that the CBD is pure and is sourced out of organic hemp plants. Pesticide and solvent-free. You can also check for third-party and lab testing reports to help you verify if the potency of the CBD oil is quality.
The concentration of the CBD
When you are buying CBD in bulk, you should always be sure of the oil concentration. This is very important if you are going to sell CBD products to your customers that have different types of needs. Others might be needing a very high concentration of CBD to recover from chronic pain. While there are others that might just need a very small amount for any general wellness. Your supplier should be able to provide you with lab reports that will show information on how concentrated your CBD products are.
The kind of CBD products
You need to know that not all CBD products are created the same or equal. And as a business owner, you need to make the decision on what type of products you want to sell to your customers. There is a variety of CBD products available in the market today. Always look into the benefits and drawbacks of each before making a decision.
The price of CBD products
If you are new to the business you need to do some research on how much others are pricing their products. You can’t go too low or too high when selling. You need to consider that you have other competitors. Price your products just enough to gain attraction from customers. It is better that you inquire about this type of information beforehand.
These are just a few of the things you need to consider when buying wholesale products or starting your own CBD company. Also, do some research about the supplier beforehand. Check for customer reviews. It is important that you and the supplier have the same vision about selling CBD products.