Entrepreneurial Checklist for Starting a CBD Business

It isn’t always easy to know where to begin when you want to start a business, or to keep up with all the “what next’s” once your business is up and running. As CBD product enthusiasts AND sellers, Fresh Bombs totally understands! That’s why we want to help you!

In this post, we briefly explain everything we know about starting and running a business involving CBD and CBD products. That way, you have all the information you need in one place!

Choosing Your Branch

Some of the most common types of business ventures involving CBD include distribution services, cultivation/extraction, edible products manufacturing, and dispensing (both on a legal public scale and a private medical one). Depending on where you live, the market for one type of CBD product or another may be your best bet, because the demand for those kinds of products may be higher. Decide which one interests you most, read information published from others who are already working in your branch, and then move on down your checklist!

We don’t mean to sound biased, but we happen to know that getting started as an entrepreneur in CBD bath products is pretty easy! Now, by easy, we don’t mean that your business will build itself. We just mean that, sites like Fresh Bombs tries to make it easy for people like you to follow in our footsteps. We have not forgotten all the steps necessary to start a successful CBD bath bomb business, and we love sharing our knowledge and experience with CBD professional hopefuls like you!

Double Check the Laws

Now that you’ve decided which piece of the CBD pie you want, be sure to check all the laws regarding it in your state. As with all laws, CBD laws vary from state to state, and you must ensure that you are abiding by each one of them, even before you actually begin your business venture. The last thing you want is to start a successful business, only to have your progress delayed because you missed a law or two!

NOTE: NONE of the information in this article is intended to be used as legal advice. For the full rundown of laws regarding CBD oil and products, please consult the appropriate professionals.

Finance Your Venture

Not only should you have enough money for all your beginning/set up costs, it’s also a good idea to ensure that you’ll have enough of a financial cushion to put into your business for about the first six months. That way, if things are slow starting, or you’re busy just making ends meet and breaking even in the beginning, you don’t get too discouraged and give up.

Look into business loans, grants, and business credit cards. Also, don’t underestimate your income tax return, if you’re receiving one! Save it for a business emergency or use it to help you get a sizeable loan/credit card.

NOTE: We are also not here to give professional financial advice. The above suggestions should be taken as just that: suggestions. For financial advice relevant to your situation and business ventures, please contact qualified financial experts.

Plan, Plan, Plan

Many business owners, both newbies and seasoned ones, underestimate the importance of having solid plans for EVERY aspect of their business. Even the most diligent business owner often gets caught up in the whirlwind of a busy business, especially when it’s booming. However, they let those plans get lost or, worse still, outdated. Then, when trouble hits, they have zero ideas as to how to fix any problems that have arisen.

There are plenty of apps available to help you document and plan everything from your budget to day-to-day tasks. Use resources like this religiously! You will never regret planning out anything too carefully or in too much detail, but you will ALWAYS be sorry you didn’t plan something out well enough!