WHERE TO BUY CBD HEMP WHOLESALE
Summary: In this article, we will discuss where to buy CBD hemp wholesale and the factors to consider before starting CBD wholesale, examples of some top suppliers, and some retailers you can pick from.
Are you looking to start a wholesale business on hemp? The hemp business is highly lucrative, especially since hemp-derived products are in high demand. The legalization of hemp-derived products with a THC content of less than 0.3% in 2018 gave way to free and open trade of such products, and since then, the hemp business has always been blooming.
The use of hemp-derived products is fast becoming popular, the demand is growing, and retailers are doing their best to make the products available to consumers who need them. A survey carried out in 2017 shows that 1 out of 7 people living in the US had used Marijuana at least once. Also, 33% of American adults have used CBD once or more, according to Singlecare. Industry analysts have predicted the CBD market to reach $120 billion in sales by 2024.
If you wish to start a wholesale business in hemp-derived CBD products, you're in the right place.
WHAT IS CBD WHOLESALING
Wholesaling sells products in bulk at a profitable price to other people, especially retailers. After the retailers have purchased the bulk products, they add their gain to the price and sell it to the consumers. Being a wholesaler of hemp-derived CBD, you serve as the middleman for the retailers and the producer/supplier.
You can select the specific type of CBD products you wish to sell and be known for, as you'll deal majorly with brick-and-mortar or online stores. You'll get to purchase the products from the suppliers; then, you sell them to retailers and other outlets at a profitable price. You also have a wide range of CBD options to choose from.
LIST OF CBD OPTIONS YOU CAN CHOOSE FROM
Being a wholesaler, you have a wide range of CBD products you can select from. Thus, you must study your target audience closely to find out the CBD product they're interested in and be convinced that your chosen product is in high demand. These are some of the examples of hemp products that you can choose from and some information on each of them:
1. Oils and Tinctures
According to Future marketing insights, the demand for CBD oil will keep rising even till 2031, which will enable the market to achieve a compound growth rate(CAGR) of 31.50% annually. The use of CBD oil in the sports industry is also on the increase and it's predicted to drive the market sales through to 2031.
2. Edibles and Gummies
Most people enjoy consuming CBD in the form of edibles and gummies because of its long-lasting effects, and it's also an attractive way of consuming CBD. Consuming edibles offer some diversity, such as the numerous flavor options that accompany it. The market size is predicted to achieve a compound growth rate of 31.7% from 2021 to 2028.
3. Drinks and beverages
This is another aspects of the CBD market that might catch your interest. Experts have discovered a way to infuse CBD into water. Also, there are some CBD powders that can also be dissolved in drinks. According to data bridge market research, the value of CBD-infused beverages is at $2.83 billion in 2021, and it's predicted to reach $8.9 billion in 2029.
4. Topicals and Skin Care
CBD has many health benefits, which enable it to be used in skincare products. It's anti-inflammatory and anti-oxidant and also exhibits a soothing skin effect. CBD can also be used in treating certain skin diseases such as eczema and psoriasis. The global skincare market was valued at $633.6 million in 2018. It's expected to reach $83,484 million by 2026.
5. Vapes
Most people enjoy taking CBD vape pens and cartridges because they give an instant effect when inhaled. The vapes always come prefilled. It's convenient and easy to use. The vape pen and cartridges are also portable, which makes them easy to carry around for travel.
6. Supplements
CBD capsules can also be carried about easily and taken on the streets or offices without anyone noticing. Even though it takes a long while before its effects can be felt, the effects it produces last longer than most other forms of delivery.
It would be best to note the FDA's stand that it's against federal law to market CBD as or in dietary supplements.
THE CHECKLIST TO ADDRESS BEFORE BUYING WHOLESALE HEMP
The production of hemp became legalized when the US passed the 2018 farm bill. The bill attached a condition to the hemp legalization: the hemp produced must not have its THC(Tetrahydrocannabinol) contents to be more than 0.3%, or else it will be considered illegal.
After the legalization, just like you're probably thinking many people became interested in the hemp business. To stand out from the crowd and avoid selling or buying illegal or fake CBD products, here are some of the things you need to consider as a distributor:
DO YOU HAVE A TOP-QUALITY SUPPLIER?
It's common knowledge that a good-quality product is easier to sell than a low-quality one. It would be best if you spent time securing quality suppliers, as they will constitute the very foundation of your business. Right suppliers source their hemp inputs from farmers that follow the strictest cultivation policies when cultivating their hemp.
The use of pesticides and chemical fertilizers indeed helps to produce a great yield of crops, but hemp products made from such crops could harm users. Regarding seeds, check the ratio of THC to CBD before buying. Then seek an experienced breeder with a good reputation to help you cultivate CBD hemp strains.
DOES YOUR SUPPLIER HAVE A LEGAL LICENSE TO SELL CBD?
This is quite an important fact that you must check with your supplier. Without confirming whether the CBD products are legally manufactured from lawfully sourced hemp, you risk buying and selling CBD products that are illegal. This could put your business, investors, and employers at risk of paying legal sanctions.
Before buying a huge amount of CBD from your suppliers, ensure you ask for the lab reports of the third-party laboratory test conducted. This will reveal how clean the product is from contaminants such as pesticides and solvents. It also shows the level of cannabinoids and terpenes inside the CBD products.
Furthermore, retailers often want to look at the lab reports to confirm they're buying quality products.
HOW LONG HAS YOUR RETAILERS BEEN IN BUSINESS?
To be safer, you must buy from reputable suppliers with proven track records. Of course, this doesn't mean that you should neglect new suppliers. You must check through some things before buying from them; the number of sales they have made and the reviews they received from their customers.
HOW READY ARE YOU TO ENTER THE CBD WHOLESALE MARKET?
Many wholesalers are available in the market; you must take deliberate actions to stand out. You can start by developing a simplified way of securing legal and good-quality CBD products. Proceed to show how you can provide access to the market and keep track of where your products are being distributed, as some states might have a ban on it. This will save you from suffering legal sanctions.
WHAT MAKES YOUR CBD UNIQUE?
The best brands will stand out amidst the sea of other products and attract more customers. Ensure that your CBD products are obtained from industrial hemp and manufactured inside an FDA(Food and Drug Administration) registered and GMP( Good Manufacturing practices) laboratory.
The more evidence you have, the better. Consider it a bonus if your products has been tested by doctors, experts, or scientists.
DO YOU POSSESS THE REQUIRED HEMP-SPECIFIC LICENSE/QUALIFICATIONS?
You need to check the rules and licenses required in your state before setting out. Some states require you to have a special hemp processor license or a handler's license before you can be allowed to distribute CBD products. Also, some states require the facility where the hemp is stored to be registered with the department of health because CBD is under food safety regulations.
SOME COMMON EXAMPLES OF CBD SUPPLIERS
Having a good knowledge of CBD suppliers will help you to get solidified in the CBD business quickly. You might be busy and not have time to research some of the best CBD suppliers. Therefore we've compiled a list of some CBD companies you can go to:
- JUST CBD: This great company stands out in the competitive CBD industry. Every of their product is GMP certified and laboratory tested, so you can be assured that you will get good quality products when you make an order. They also offer a wide range of items for sale; this includes everything from CBD gummies and powerful CBD oil to soothing creams and CBD pet treats.The best thing is that their merchandise comes with a 30-day money-back guarantee. So even if you're not satisfied with their products which I doubt will happen, you still have the chance to return it and get your money back
- Hurcann: This is a top cannabis company that offers a wide variety of CBD products. You can be assured that their CBD products are free from harmful chemicals such as pesticides as they are laboratory tested. They also possess some great customer reviews, proving their customers are happy with their products.
- PURE CBD: This is a top company that follows Swiss law in its highest standards in all its processes. They maintain a high level of quality as their product is tested twice in their laboratory, and an external laboratory verifies the results. Just like their name says, their products are pure and devoid of any contaminants, such as pesticides, that can prove harmful to humans
- CBDistellery: This is a CBD company founded in 2016. It's famous for producing high-quality and exceptional CBD products. They follow through with all the strictest industry guidelines the FDA provides and are certified by the US hemp Authority. This proves that their products can be highly trusted and they have thousands of verified customer reviews to back it up.
SECURING YOUR TARGET RETAILERS
There are various things to consider in becoming a successful wholesaler of CBD products. One of them is how many retailers stock the products you're selling. If you find out the type of product that retailers heavily demand, you're on a good path. These are some retailers you might want to target:
1. Hemp shops
They started from the hippie counterculture in the late 1960s. They are a retail outlet that's well known for the sale of drug paraphernalia used for social consumption. They are located in different areas of the towns and cities. It's good you reach out to them if you're selling wholesale CBD products because they possess a loyal clientele base.
However, hemp shops are mostly preferred by adult-use consumers, so CBD products might not really be their style.
2. Online retailers
The rate at which people buy CBD products online proves that it will be a a great idea to sell hemp wholesale to online retailers. The online store offers a large client base which makes the demand for hemp products high. It often takes a while to get in contact with online sellers as they are often busy trying to meet up with the high demand for their products.
3. Bricks-and-mortar shops
Another target for you to check is the specialty stores. These shops are located in different parts of the city and state. They can be easily found and communicated with. Examples of specialty stores that require CBD products are vape shops, nutrition stores, health/wellness stores, and smoke shops.
Like hemp shops, they also possess a loyal client base because of their interactions with local customers and the quality produced. However, brick-and-motor are extremely careful with the product they buy and they scrutinize a lot. You will have to offer them your best quality products to stand a chance.
CONCLUSION
The best time to embark on CBD wholesaling is now that the demand for CBD products is increasing. Wholesaling involves buying bulk from suppliers and selling it to retailers at a profitable price. It would help if you bought from suppliers that can guarantee that their hemp is lawfully sourced and of top quality.
Always check the lab reports of the products to know their exact ingredients. Also, being a wholesaler gives you the chance to choose from a wide array of products, so make sure you conduct enough research to determine which product is in high demand by your target audience before selecting a product to buy.