So, you have started the best ways to start a CBD business in 2020, and you’re wondering where exactly to begin! Since Doc Patels is an already established CBD business, we want to share some insider knowledge to help you grow your own CBD business. Like any other business, there are a few essentials pieces you need in order to get started.
1. Choose a name for your business
This might be a bit obvious, but when you name your business, you are establishing an identity and a brand that your whole strategy is built around.
Due to the industry still being unregulated, we would recommend you stray away from using CBD, cannabis, or hemp in your brand name. This will help avoid problems down the line with your bank or merchant. Moreover, we suggest you don’t link your brand to solely one type of product. If demand shifts, you might want to add additional products to your line. If you include the word “CBD” it might be assumed you only carry CBD products, and that can restrict your business plan in the future.
2. Understand state and federal laws
Stay updated with federal and state laws regarding CBD. If you don’t comply with laws and regulations, your CBD business can face penalties. Remember, laws surrounding CBD differ depending on your state. The most important factor to note is the level of THC in your CBD products – be sure the level does not exceed 0.3%. While this is one of the most important laws to follow, laws are changing frequently and need to be monitored by yourself or your team.
3. Choose a CBD distributor to purchase your CBD products from
Choose a CBD Distributor that aligns well with your business initiatives. We recommend choosing a CBD company that offers a variety of high-quality CBD products that you can offer your customers. You’ll find information, like the quality and consistency of the products, in the certificate of analysis. Here you can fully understand what products you are purchasing. At Doc Patels, we offer a variety of Broad Spectrum CBD products that contain 0.00% THC. Our most popular products include CBD Oil, CBD Cream, CBD Softgels, and CBD Gummies. All of our products are third-party tested for pesticides, fungus, bacteria, and heavy metals, so you know every product is safe.
You’ll also want to partner with a CBD distributor that provides great service and experience. With Doc Patels, our partners have access to our CBD marketing team, dedicated to helping build your business in the direction you need. If you need custom logo design or package design, we can work with you to bring your brand vision to life. Our team consists of thoroughly trained and licensed professionals, comprised of 30 engineers, scientists (including 8 Ph.D.’s, 2 MD’s, 2 MA’s), a Psychiatrist and a Dentist – here to help you figure out how to sell CBD products.
4. Design and launch your website
If your business strategy is to sell CBD products nationally, then having a website is essential to its success. Having a well-designed website that displays and utilizes your marketing efforts (content marketing, social media marketing, email marketing reputation management, pay-per-click) will help maximize the opportunities to reach your target market. Having a functional website is important to create loyal and returning customers.
At Doc Patels, our website is essential to marketing efforts. We utilize a robust marketing strategy and the most relevant marketing channels, while providing authentic and genuine information that is useful for our customers.
5. Establish your brand identity
The CBD space is crowded with many new and emerging brands. When defining your brand, differentiate yourself from the competitors. When you are establishing your brand’s identity, think about who your target audience is and what you want your CBD company to stand for. A company’s brand is indicative of who they are and why many customers choose to do business with them, so make sure your brand stands out and with purpose.
Connect with Doc Patels
At Doc Patels, we want to share our knowledge of CBD and how to start your own CBD business. If you have questions on how to start your own CBD business in 2020, connect with Doc Patels today!