You might be an entrepreneur who finds the industry of cannabidiol or CBD to be promising. If you are going to enter this business, it’s essential to know a few things about CBD, how it is extracted, how you can find the premium ones and the content of THC in the flowers.
It’s expected that cannabidiol will hit over $7 billion in the next few years, and the market cap is expected to be $20 billion. This means that you have to strike while the iron is hot. So many consumers today want to alleviate their stress, anxiety, and insomnia. However, they also want to consume the best cannabidiol flowers out there.
If you’re going to enter the CBD industry, know that you can contact legitimate companies to give you wholesale prices. In particular, the wholesale CBD flower is famous for many entrepreneurs because people are looking for them as alternatives to marijuana. Some of the factors to consider when looking for wholesale programs are the following:
1. The Kind of Product Offerings
Since the legalization of the Farm Bill of 2018, industrial farming has been legal at a federal level as long as the plant extracts contain less than 0.3% THC. As a wholesaler, you need to be able to distribute and sell products to your customers that have less amount of THC. Cannabidiol is extracted from the hemp plants and it should have no psychoactive effect to its consumers.
CBD products with excess amounts of THC will mean that you’re breaking the law. This is because the compound tetrahydrocannabinol or THC makes the customers “high,” and it’s abundant in marijuana.
This is a problem for consumers who could have the possibility of losing their jobs when they test positive on a drug test. It’s also a disaster when they were involved in an accident because of your products’ effect on them.
Always Go with the Gold Standard
The full-spectrum products are considered the gold standard because they contain everything that can boost the health naturally. Full-spectrum flowers have non-intoxicating cannabinoids, terpenes, and flavonoids. Know that they can sometimes contain trace amounts of THC, which is less than 0.3%. This THC will boost the cannabidiol’s effects in the body as well as the other compounds. You can know more about THC and CBD on this site here.
Other options include the isolates, which are 100% CBD and no other phytocompounds combined. There’s another, which is the broad spectrum, and it’s the combination of terpenes, flavonoids, and other phytocannabinoids, but there’s no THC included.
The entourage effect is a gold standard because it makes the terpenes and cannabinoids work together. These products in the market may contain CBDA, CBC, CBN, CBD, and CBG. On top of these, there are also valuable terpenes like alpha-pinene and linalool that make the flowers more fragrant.
One of the ways that you can guarantee that the THC is less than 0.3% is through reports from third-party laboratories. The most reputable suppliers out there will include lab reports from every batch of flowers they send. If there are no lab reports, you should be wary of the dried flowers you’re receiving.
2. Selection and Pricing is Important
In the wholesale business, you will not only get the flowers but a wide range of other products as well. You need a company that will give you everything in bulk if you decide to have a steady supply and storage of the products. Look for businesses that are looking into the long-term, so you’ll save a lot of money.
Have a closer look at the current offers and make sure that these are actually the products your customers need. The most successful wholesalers are looking at a wide range of product offerings with considerable differences in price points. If you’re starting, you can begin to purchase around 2000mg of CBD products and see how your customers are reacting. Other retailers can afford to pay the higher concentrations as long as the CBD is high-quality, and the flowers are effective.
Aside from the flowers, you have the option to go with vape juices, balms, oils, and edibles. You can specialize in gummies or pet treats as well. When you’re in doubt about what to sell, it’s a good idea to stick with the marketable and mainstream products to have more chances of success.
When it comes to the prices, this is usually on a scale. You’ll get a percentage on the shelf price, and others may offer up to a 50% discount if you are a regular buyer. You can learn more about shelf pricing here: https://medium.com/shelf-life/shelf-price-1dc236675d11.
3. Fast Shipping is Ideal
Customers nowadays expect to receive their orders ideally within 24 hours. This is why as a seller, you should receive our goods in the fastest way possible because your business can depend on resale. You may want to imagine a situation where your customers will order over 50 bottles of CBD, but you don’t have anything in stock. Your expected shipment does not arrive on time to make matters worse, and the wholesaler is constantly delaying the shipping.
You would want to look for a wholesaler who can send you the entire shipment in the fastest possible manner. Ask about the number of days when you can expect to receive the orders. In a marketplace where competition is fierce, the speed can make or break your company, and this should be one of your priorities in looking for wholesalers.
Reputable manufacturers may offer you free shipping as a deal sweetener. These are the ones who want you to keep coming back to them. In the CBD industry, you need to have an exceptionally high standard, and you need your suppliers to have the same mentality.