Interested in starting a CBD oil company? Looking for a way of how best one can develop a CBD oil company? What factors are considered when developing a CBD oil company? This article explains how an individual can start their own CBD oil company.
Grace (2020) explained that developing a CBD brand requires one to have a steady hemp supplier. After identifying a supplier, get a license for CBD production. Also, ensure you have a stable manufacturing facility that will help you constantly supply your CBD products. Have a team of professionals and offer your customers a variety of products. Before beginning a CBD company, one needs to identify the location where it will be based, as not all states allow usage of CBD.
Identify Hemp Supplier
Before establishing your CBD brand, identify a supplier or have your farm where you will monitor hemp growth. If you are going for a supplier, ensure they uphold organic farming practices to offer only pure hemp, void of artificial pesticides and fertilizers. The best hemp producers in the US include Colorado, Oregon, and Kentucky. Farms around these regions are fertile and have hemp associations that educate farmers on organic farming practices to offer suppliers quality hemp. It is recommended to go for a single supplier who can constantly supply you with quality hemp.
Getting a license requires you to agree that you will uphold the manufacturing safety regulations set by the state government and the Food and Drugs Administration (FDA). According to the FDA and 2018 Farm Bill, all CBD manufacturers are to uphold regulations that address the consumer's safety. First, THC levels in all CBD products should be below 0.3%; otherwise, they are illegal. Also, the potency variance on the products and the actual ones should not exceed 10%. FDA is responsible for sending warnings and suing CBD brands that expose their customers to unsafe products that would harm their health.
Develop Your Company
According to Fiorini et al. (2020), a CBD company has various stages; a hemp store, a manufacturing facility, and a centralized lab. Ensure you have a storage facility where your hemp will be directed upon arrival from the farms. Due to the high demand for CBD products in the USA market, have a team of manufacturing facility developers helping you to come up with equipment that can produce on a large scale. Besides, some well-performing CBD brands have centralized labs that help them monitor quality when the hemp plant gets to the manufacturing facility. Quality is assessed at each level until CBD oil is ready to market.
If one wishes to get quality products that would compete favorably in the market, ensure they get a team of qualified experts to help them monitor production. First, hire manufacturing experts responsible for selecting the best manufacturing chemicals that will not contaminate the CBD oil. They will help you minimize the number of chemicals used and still get quality CBD oil to the customers.
If you have a centralized lab, ensure you hire qualified lab technicians that will minimize errors as they need to ensure all CBD oil products are void of harmful chemicals such as solvents. They will confirm the purity levels of your products to confirm that they are void of heavy metals that would harm consumers. Lastly, their role in ensuring that potency levels in CBD oil products are within the 10% variance. Getting a certified and experienced lab technician team saves the company from getting shut down to poor quality or unsafe products.
Develop Your Brands Website
Corroon, MacKay, & Dolphin (2020) explained that a website is important for your CBD company. It helps you get a wider market and sell your products as a new brand in the market. Consider offering better quality at considerable rates to give people reasons for choosing your brand. Also, consider offering your customers discounts to attract them. As a new brand, offer your customer a full refund satisfactory guarantee to build trust and confidence in them. Ensure online orders are delivered at most within 48 hours and as expected by the customers. You can offer free shipping on online orders or consider it to customers buying products exceeding $50.
Other Products You Can Offer
As a new brand in the market, you need to consistently offer CBD oil and other products to meet your customer’s demands. Vučković et al. (2018) explained that CBD oil might help with pain and be good for inflammation. CBD is also helpful for stress and depression and can help with sleep, explaining why CBD demand increases. As such, you might decide to offer other CBD products, including;
Hammel et al. (2016) stated that CBD gummies are candies manufactured from hemp plant extracts. Unlike CBD oil, they are offered in various flavors, colors, sizes, and shapes, helping consumers evade the awful natural taste of the hemp plant and use them conveniently. Most people prefer using CBD gummies since they are easy to carry and use, unlike other products such as CBD oil that attract attention whenever people use them. You can offer them from potency of 5 mg to 30 mg of CBD per gummy. Also, ensure they are assessed for purity levels.
Besides offering CBD oil and gummies, García-Gutiérrez et al. (2020) explained that individuals should consider using topicals often as their brand. Nearly everyone is sensitive about their skin, and they wish to enhance its glow. Topical products give CBD users smooth skin and prevent it from early aging. Murillo-Rodriguez et al. (2014) explained that the hemp plant contains anti-aging properties that make them suitable for your skin. Lastly, you can also offer topical massage products blended with other products.
It is quite easy if you are looking forward to developing a CBD brand. You need a license and capital to develop a manufacturing facility. Consider finding a stable supplier of organic hemp or have your hemp farm if the funds allow. As a new brand, you need to offer people reasons for choosing your brand. Offer quality products at competitive prices that would attract customers. Also, consider offering discounts and free shipping despite the amount used for making purchases by customers. Lastly, consider a return and refund policy that works out for your brand and the customers.
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García-Gutiérrez, M. S., Navarrete, F., Gasparyan, A., Austrich-Olivares, A., Sala, F., & Manzanares, J. (2020). Cannabidiol: A Potential New Alternative For The Treatment Of Anxiety, Depression, And Psychotic Disorders. Biomolecules, 10(11), 1575. Https://Www.Mdpi.Com/895884.
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Fiorini, D., Scortichini, S., Bonacucina, G., Greco, N. G., Mazzara, E., Petrelli, R., ... & Cespi, M. (2020). Cannabidiol-enriched hemp essential oil was obtained by an optimized microwave-assisted extraction using a central composite design. Industrial Crops and Products, 154, 112688.
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Murillo-Rodríguez, E., Sarro-Ramírez, A., Sánchez, D., Mijangos-Moreno, S., Tejeda-Padrón, A., Poot-Aké, A., Guzmán, K., Pacheco-Pantoja, E., & Arias-Carrión, O. (2014). Potential Effects Of Cannabidiol As A Wake-Promoting Agent. Current Neuropharmacology, 12(3), 269–272. Https://Doi.Org/10.2174/1570159X11666131204235805
Vučković, S., Srebro, D., Vujović, K. S., Vučetić, Č., & Prostran, M. (2018). Cannabinoids And Pain: New Insights From Old Molecules. Frontiers In Pharmacology, 1259.
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