Valued at $395.2 Million in 2019, and expected to reach $20 Billion by 2024, the CBD sector is among the fastest growing industries of the moment. And although the cannabinoid market is still facing its challenges, the health-conscious consumers and the considerable shift in lifestyles and eating habits will most probably push the CBD’s growth even higher.
With cannabis-legalization movements expanding into almost all the US states, and the cannabis industry on the verge of breaking into new markets, many people were prompted to explore how they can launch a CBD business. Among all the CBD business opportunities available, developing a CBD wholesale program has a high consumer reach model and promises significant profit for the following years. It doesn’t matter if your company is big or small. Becoming a CBD distributor is an excellent first step in growing and expanding your business in 2021.
If you’re considering getting involved in the CBD industry, this article explains what are the advantages of becoming a CBD distributor, and why NOW is the best time to start your business.
You’ll Be Part Of A Fast Growing Market
As society is becoming more open minded towards accepting CBD as a supplement with many benefits for our health and wellbeing, there is no better moment to start your CBD distribution company than now. Just keep in mind that to help expand your network of active retailers, you need to choose high quality manufacturers that end users want. When choosing a reputable manufacturer you can take advantage of products which have already been formulated and tested, and that have proven to be effective.
You Know What Works And What Doesn’t
Finding a mentor, or asking for advice from companies who are already established can provide you with the information needed to develop your business and accelerate sales with pre-sales support, product training, and updates. While certain approaches to distributing CBD have proven more effective over the last few years than others, having someone who can guide you through the process will help you make wiser decisions. The chance to learn from the mistakes of those who came before you will save you time and will reduce the chances that you will lose your investment.
You Can Focus On What You Do Best
When you have less aspects of the business to concern yourself with, your focus will be streamlined. So once the manufacturing aspect is taken care of, you can focus more on other aspects that are essential for helping your business succeed like CBD marketing, IT and sales. Most CBD manufacturers do not impose a method of operation on the distributorship, but they may provide training in order to improve product information and sales techniques.
Lower Starting Costs
Manufacturing high quality products at scale takes significant capital investment and research, but this is something that you won’t have to deal with. While figures will vary depending on location and whether you open a physical shop or an online shop, the initial costs of starting a CBD distribution business are quite low especially when you are planning to sell your products online.