Entering the CBD Industry as a Woman
As of 2020, the CBD industry has a global market value of over 2.8 billion dollars. This figure is projected to grow by 21.2% between 2021 and 2028. There is no better time to join this industry than now. If you want to join the CBD industry as a woman in 2022, make sure you are familiar with the industry and its different areas. What types of CBD-infused products do you know, is the use of CBD safe for humans, and is CBD oil safe for cats?
Step 1. Understand the legality of CBD in your area
CBD and its variant products have faced much criticism in times past. To date, some people don’t support CBD products as they confuse them with Cannabis.
Different regions have laws that address the legality of selling and using Cannabis. The Farm bill of 2018 formally legalized the use of CBD and its variants containing only 0.3 THC in the USA.
So, if you are in the US, this law backs you up if you go into the CBD business. Nevertheless, it’s still being regulated and monitored heavily by the FDA. If you are in any other region, find out what the law says about CBD in your area.
Step 2. Decide which area of the CBD business you want to go into
The CBD business is expanding in scope and popularity daily. Currently, the most popular area of the business is retailing CBD products. Products like CBD oils, topical, tinctures, vape pens, CBD edibles – gumdrops, snacks, etc.
However, other primary areas of the business include cultivating the hemp plants and extracting the oil. So, decide which area of the business you want to venture into before starting anything.
Lastly, as a woman in business, retailing a product that you can comfortably market to another person isn’t a bad way to enter the CBD business
Step 3. Partner or register with a supplier or company as a distributor
If you decide to retail CBD products, connecting with a trusted supplier or company as a distributor would be wise. This partnership will help you get discounted prices if you buy in bulk. It also cuts away the possibility of buying unoriginal products.
Step 4. Market your products
Marketing CBD products in mainstream media is dicey because of the industry’s regulations. According to the FDA, CBD sellers are not permitted to tout their products with health benefits. The alternative marketing strategy is to do word-of-mouth advertising. Start selling to relatives, neighbours, and colleagues that use CBD products. It would be best to consider taking the products to regular shops that sell CBD products within your local area.
Step 5. How to succeed in the CBD industry as a woman
Succeeding in the CBD industry largely depends on your ability to convince people to trust what you sell. The best way to do this is to sell quality products. Don’t compromise on buying whole CBD-derived products. Secondly, get verifications and certifications to make customers trust that your business is legit.
The growth of the CBD industry in the coming years lies in several factors, one of which is more people coming into the industry. Do your research and learn all you need to before starting. We are rooting for you.