Cannabidiol (also known as CBD) has taken the globe by storm since being developed into a product that can be taken for many reasons in a variety of different ways. So there is a lot of things to consider before beginning to consume CBD for yourself and that is something you should do some research on and even consult your doctor. But what about if you’re in a business or want to start a CBD business to take advantage of this rapidly growing market? Here we’ll look at the 5 most important things to keep in mind before you start marketing your CBD business and accepting payments, no matter if you’re online or a brick and mortar.
1. Why Sell CBD?
Beyond the fact that CBD has become one of the fastest growing personal care and health products available today, meaning there is room to get into that market, it also has a huge number of benefits to users which is why it has gotten so popular in the first place. It is derived from hemp or cannabis however it does not have any THC in it meaning you do not get “high” when you take it. It is being used for a huge number of chronic and acute conditions including: chronic pain, inflammation reduction, anxiety & mood stabilizer, anti-oxidant, and can treat conditions like seizures. It is also available in a huge variety of consumption methods from flavorless powders that can be mixed into smoothies to gummies, topical creams, hair & skin care products, and even oils or tinctures. So it is used for a lot of reasons and it is available in a lot of forms and the market is booming with growth. These are all huge on the upsides for getting into the market now.
2. The Source Of Your CBD
Not all CBD companies are created equal. Some that is produced in countries like China where there is less agricultural regulation can be contaminated with pesticides and other substances which people should not be consuming. It may cost more but if you’re going to be selling the best CBD products available you should be looking for CBD produces in the USA or Canada from completely organic sources. This is healthier for your customers and provides piece of mind that folks know they’re getting the best possible CBD available.
3. Ecommerce or Brick and Mortar?
So depending on whether you have a physical store where you sell products or operate only online, its smart to combine these where possible. Obviously if you are an online company you won’t have a store front but if you do have a store front its a great idea to also start offering your products for sale online. Whether you are a coffee shop, health food store, cannabis accessory shop, or even places like gas stations, offering CBD online allows you to reach a wider audience and in turn make more sales.
4. Accepting Credit & Debit Cards
So this is where it was tricky for a long time. As in USA and Canada, the laws are different regarding cannabis and CBD products. Finally, you can now accept debit and credit cards for CBD sales as if you were any other business. For the longest time banks would refuse to allow these sorts of businesses to operate in their normal channels and merchant service providers would label them “high risk” with huge fees and large cash reserves. That is no longer the case now in 2020. Now, operate your CBD business and take credit and debit card payments as if you were any other business. There should be no more stigma to these sorts of goods and finally banks and merchant providers have finally gotten on board. Now you can accept credit and debit card payments so don’t hesitate to start.
5. Getting Started The Right Way
Not all merchant service companies are created equal (that is the company that allows you to accept credit and debit payments). Larger companies will simply look at you as a number, no one will know who you are, will know much if anything about your business, and if you need help it can take more than a day to get in touch with you. These are all bad things for running your business smoothly. Certain merchant providers have specialized specifically in CBD and Cannabis based businesses and these are the sort of credit card processing companies you should be looking at. Where you know who you are talking to, they know you and your business, and you work together to make your business reach its full potential.
For the best in CBD Credit Card Processing Companies, look no further than over a decade in the industry and a provider who is also a direct investor into the CBD community, right here at BrotherProcessing.com Call today for a free no obligation consultation with Stuart today: 800-891-8965