Colorado is one of the best states in the country to start a CBD business. Because the state has already embraced marijuana for medical and recreational use, the sentiment around CBD products isn’t as harsh there as in other states around the country.
However, starting an online business isn’t like opening a store. If you want to start your own online CBD business, then follow these tips to help you get started.
Get your business licenses and registration.
While it may be cheaper to start a business online than to open your own store, starting a business online is not a way to skirt the law. Before you can begin selling your products online, you need to register your business with the state and obtain any necessary licenses.
You should get a business attorney with experience in the cannabis industry to help you with the process of getting your business licenses. Because cannabis is federally regulated, you’ll need an attorney to help you stay in compliance with federal laws.
Find a distributor.
Finding reliable suppliers is critical to the success of your online business. You need a partner who can meet your product demands and fulfill them on time with consistency. If your distributor is unreliable, then you will be too.
If you’re a CBD enthusiast without much real industry expertise, then Basic CBD is the perfect wholesale CBD partner for your business. They offer their premium products at affordable rates, and also offer training so you’ll have a better understanding of their products and CBD in general.
Build a website.
If you don’t have a brick-and-mortar location for your store, then your website will be your storefront, meaning your website needs to be attractive and user friendly. There are a lot of companies that do web design in Denver Colorado, but not all of them have the experience and track record that Webolutions has. They’re an excellent option for startups because they offer web design and SEO services to fit almost any budget.
Just like you would hire professionals to build your brick-and-mortar store, you want professional web developers to construct your website for the same reason. You don’t want your store falling down on your head!
Come up with a digital marketing strategy.
Marketing is important for any new business, but this is especially true for online businesses. Since your store is all online, you’ll never have the occasional passerby who stops in just to see what you’re selling — you have to put together an aggressive marketing strategy.
The good news is that since your store is online, you really only need to worry about digital marketing, and the best way to market online is through social media. If a social media post for your business goes viral, then your business will go viral as well!
The key is to create social media accounts for your business and post content to them consistently. Post online customer reviews to your social media pages as well. You can even set up your social media accounts to link back to your website or take orders right from your social media page.
Diversify your business.
The most successful entrepreneurs know how to expand their business to create new streams of revenue. If you sell CBD skincare products, then one way you could expand your business is by venturing into beauty products as well.
Women who come to your site looking for CBD skin cream may be interested in getting cosmetic products like mascara or false eyelashes as well. The point is that the opportunities to grow your business will be there as long as you aren’t afraid of expanding.