The CBD market is predicted to hit $5.3 billion in retail sales by the end of the year. That makes this one of the best industries to venture into in 2021. On top of generating massive sales, you’ll be helping people with severe pain and anxiety by availing CBD products to them.
You may, however, be worried about where you’ll be getting CBD products. You don’t know any reliable wholesale supplier to supply these products. You fear choosing an inferior supplier who delivers substandard cannabis products.
To assist you, here is how to find the best wholesale supplier for your CBD business.
Focus on Getting High-Quality CBD Products
The high demand for CBD has led to a high level of fake products in the market. These products either lack the essential CBD components or have harmful compounds. That’s why you should strive to know where to get quality and safe CBD products.
The idea is to find products with the proper levels of cannabidiol that offer the perfect dosage to the users. For example, you should check if a given supplier offers bulk water soluble CBD isolate. The reason is that CBD isolate has low levels of THC, which some people fear as it makes them feel high.
You should also insist on knowing the extraction process of making CBD products. The objective is to ensure you get quality cannabis products that’ll offer the users’ health benefits. Getting quality cannabis products will help build a positive reputation for your new CBD business.
Check if the Wholesale Supplier Uses a Third-Party CBD Testing Service
Some wholesale suppliers will persuade you that they have in-house teams that test all CBD products. The problem is that these teams can fake results to show that the products are pure. That’s why you should only deal with a supplier who uses a reputable third party.
The role of this third party is to test the CBD products for consistency and purity. This agency must provide accurate and reliable results. That’s why you should seek background information on this CBD testing agency.
These experts will also guide you on signs that you’re getting fake cannabis products. The idea is to gain insights into the various means of testing cannabis quality. With these details, it’s easy to ensure that your new cannabis business is only dealing with high-quality products.
Review the Services the Supplier Offers
Most CBD suppliers are overwhelmed by the high orders they’re getting from retailers. Due to this most of them are unable to make timely deliveries. Others have poor customer support, and they take forever to respond to your calls.
To avoid these problems, look for CBD wholesale suppliers who offer excellent services. You’ll discover that this supplier has channels in place to ensure timely delivery. Also, this company provides 24/7 support, ensuring you get timely answers when facing any issue.
The goal of this top supplier is to form a great partnership with all CBD retailers. This company will keep you updated on your order status. They’ll also guide you on how to track your inventory to avoid stockouts.
By selecting the best CBD wholesaler, you will receive quality products and expert advice on the best business tools. The target is to access resources that’ll simplify the operations of your new cannabis business. For instance, help to get invoicing and accounting tools that help you track your revenues and expenses.
Select a Supplier Who Fits Your Standards
The supplier you choose can make or break your cannabis business. The wrong supplier will fail to deliver the right variety of CBD products. Also, such a supplier may push you to purchase the wrong products taking advantage of your lack of knowledge.
The right wholesale CBD supplier will nurture your young business by supplying the right product. This supplier offers a wide selection of cannabis products and recommends the best one to stock. Also, this company shares your core values and vision.
That’s why you should check if a given wholesale supplier is compatible with your business. The idea is to find a company that cares about helping people more than making a profit. This company will deliver safe cannabis products that offer numerous health benefits.
Get Referrals from Other CBD Businesses
The cannabis industry is currently flocked by numerous wholesale suppliers. It can be overwhelming for the new entrepreneurs in this industry to decide the best one to use. It’ll be torture to contact all these wholesalers to find out their qualifications and the CBD products they sell.
You need to find a shortcut for doing this work that assures you of accurate results. That’s why you should reach out to other CBD business owners for referrals. The objective is to learn about the various companies that sell wholesale CBD products to them.
Also, these people will guide you to know the mistakes to avoid when choosing the wholesale CBD supplier. The target is to learn early the red flags of incompetent suppliers.
Search for a CBD Wholesaler Who Provides Marketing Support
As a new CBD business owner, you’ll struggle to brand and market your products. You’ll not know how to best set up your online CBD store to attract buyers. You may also have trouble deciding how to price these cannabis products competitively.
You can overcome these challenges by dealing with a wholesale CBD company that offers marketing support. This company will train you and your employees on the various uses of the CBD products you stock. The idea is to enlighten you on the health benefits these products offers.
Also, they’ll direct you on how to best brand your cannabis products to make them stand out. The target is to learn the right online and offline channels for marketing your cannabis business. With this information, you’ll increase business leads and generate high sales volumes.
Check How Long the CBD Wholesaler Has Been Operational
New CBD wholesale suppliers are yet to understand how this market works. These companies may have trouble sourcing high-quality cannabis products. Or they may be yet to establish the right delivery channels.
That’s why you should look for a supplier who has been in this field for several months. The reason is that this company understand the struggles of new CBD businesses. You can therefore count on this firm to offer you the guidance you need.
Also, the experienced wholesale CBD Company has invested in an effective supply chain. The objective is to ensure it makes timely delivery to all its customers.
Find a Supplier with a Suitable Pricing Structure
Most new business owners have no idea what it means to buy wholesale CBD. They assume it’s the price discount you get from buying in bulk. What they don’t realize is the other major benefits of buying things in wholesale.
That’s why you should review the wholesale terms different CBD suppliers offer. On top of getting a price cut, some companies may offer delivery services. Others may allow you to make partial payments for cannabis products.
The objective is to go for the wholesale CBD supplier with a friendly pricing structure. Getting a great deal means that you’ll be able to offer competitive prices for your retail CBD products. The idea is to get a great markup that enhances the profitability of your cannabis business.
Also, look for companies that are willing to deliver the wholesale CBD products on credit. The objective is to reduce your capital requirement and expand your inventory.
Check Government Certifications and Licensing
To protect consumers from harmful CBD products, the government has implemented different measures. One of them is requiring all CBD businesses to obtain a license. The license shows that the business meets the set quality standards.
In some states, the government also has restrictions on who can purchase cannabis products. For example, in Florida, you’ll need a prescription to buy medical cannabis. Knowing these regulations is both important to legally run a CBD business and finding the right supplier.
You should only buy wholesale cannabis from a licensed supplier. The reason is that this supplier adheres to the governmental laws on CBD distribution. Also, this company will only distribute safe cannabis products that meet the set quality standards.
Get Quality Cannabis Products by Choosing the Best Wholesale Supplier
The success of your new cannabis business will be influenced by the quality of products you stock. High-quality CBD products promote repeat purchases and help you get loyal customers. That’s why you should know the right factors to guide you find the best CBD wholesale supplier.
Go for a supplier who uses an independent company for CBD testing services. You can trust this supplier to deliver pure and consistent cannabis products. Also, look for a wholesaler who provides a wide range of CBD products.
For more advice on starting and running a cannabis business, please check our other blogs.