Unique Problems You’ll Face Setting Up A CBD Business

By Partnered Post | Business

May 07

Every industry brings with it its own challenges and points of confusion for those newly breaking into them. Few of them have so many potential time-wasting entanglements as setting up a CBD business, however. While these businesses are definitely fast-growing popular, with the growth potential to welcome new competitors in many regions, you have to be ready for some of the odd challenges that this burgeoning market will bring with it.

The confusion with THC

If you tell people that you’re getting into business selling CBD, you’re likely going to hear a weed joke at one point or another. It’s an association that, simply put, you have to live with. However, you have to make sure that it doesn’t affect your marketing or branding to the point of confusing customers. Make sure that you know the differences between CBD and THC, its psychoactive cousin, and that you’re able to promote the commonly understood benefits of CBD while making it clear that, no, your customers aren’t going to get high from it.

Getting confident about selling

Because of the association that a lot of people make with THC products, as well as cannabis in general, a lot of people can develop a degree of uncertainty about selling their products. Developing the ability to sell with integrity and confidence is vital, and it might mean shaking off some of the mental associations you might still be carrying around with you, regarding the product. If you’re feeling in any way embarrassed about selling your product, then you might need to think about getting into a certain business.

Payment processor struggles

Although it might be important for you to understand the nature of what you’re selling, as well as the fact that it’s legal and, in reality, not controversial at all, there is a rising trend of payment processors leaning conservative in what industries they support. CBD products can get caught up in the desire of processors to avoid association with anything that has even the slightest connective thread to drugs. As such, you want to find credit card processing for CBD companies, specifically. Set yourself up with those processors designed to work with you, rather than going with one of the big ones and finding yourself blocked from transactions out of the blue one day.

Staying legal and compliant

As you grow, it’s always a good idea to stay well aware of the legality of CBD products, based on where you are. CBD legality is called into question just as often as marijuana legality, despite the clear differences between the products. CBD is fully legal in 18 states, while it’s conditionally legal in 33, so if you plan on selling in any of those 33 states, you should do so with a full understanding of what regulatory restrictions might be on you, there.

Establishing a CBD product business can certainly be lucrative, and it’s a market that’s certainly looking for innovation and new ideas. With the tips above, you can make sure that you navigate some of the more common issues new store owners run into.

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