How to Run a Successful CBD Business

The Farm Bill of 2018 has opened up the world of cannabidiol, or CBD. However, the vilification of tetrahydrocannabinol or THC continues and legal challenges may be a serious risk depending on where you live. To keep yourself and your business trustworthy and out of legal troubles, education is key.

Know Your Product

CBD can be found in many formats. Your displays and offerings will have an impact on your client base. For example, if you plan to sell to clients who use CBD to manage pain, stress, and anxiety, you will need to share data on isolates as well as full-spectrum products. The cannabinoids found in CBD can be quite complex. Keeping things manageable for your clients is the first step to building a happy client base.

Share different formats with your client base. This can include:

• topicals, including lotions, roll-ons, and creams

• edibles, from isolate powder to capsules to gummies as well as sublingual oils

• smokables, from disposable pens to vaping liquid

In the early days of CBD use among the general public, there were horror stories of people injuring themselves because they tried to smoke sublingual oil. There are also CBD users who have been very disappointed trying to use an edible oil as a topical for skin inflammation or joint pain. As you promote the different forms of CBD dosing, make sure your experience with the product is shared with your employees and your clients.

Provide Guidance

As you build stock, make sure you know the product from the first sprout through the final bottling. Your suppliers must be able to provide you with proof of organic certification and 3rd party testing. If you can't get this data, you need a new supplier. Part of the vilification of cannabis use, in general, is tied to toxins, poor handling of the growing stock, and inappropriate use of the finished product. Educate where you can and provide proof of the purity of all products. According to Extract Labs, which sells full spectrum CBD oil, understanding client needs and educating staff is critical to getting the most appropriate product into the hands of clients. Sharing data, knowledge, and information will build confidence in your client base.

Stay Legal

If your state allows products that are made from plants that produce less than 0.3% THC, make sure you display the difference between hemp and cannabis. You may also want to share the difference between Indica and Sativa if your product line includes any isolated or extracted products from cannabis plants that have a naturally lower THC level.

If you need to borrow to get your business up and running, make sure that you share information as to exactly what you're selling. The early days of legal hemp were addressed by the Small Business Administration with no consideration for the difference between CBD and THC. Be aware that these regulations will change. If you can prove that your CBD business is within the bumpers of legal activity, you may be able to get an SBA loan and expand.

Guard Your Retail Space Effectively

Make sure that your space is following all rules and regulations of your state. Many states provide legal access to medical marijuana but have not decriminalized the product. Your clients may need to provide proof of access to legal cannabis. Set up a check station at the front of your store to reduce the chance of dealing with legal challenges for your clients, your employees, and yourself.

Keep the outside of your business looking respectful and tidy. If there are risks of legal worries, consider creating a no-child policy, or at least create a space where children can be without getting close to any displayed product. Create a written policy about how to address any vulnerable visitors, from children to service animals. Police the space to make sure that nothing is within grabbing reach of a service dog or child.

One of the worries for those interested in starting a CBD business is that once the product is fully legalized, bigger businesses may come in to compete. Set yourself up to be the first acquired so you can move on to other aspects of the industry.