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!
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!
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.
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.
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!
No one ever complained that they did too much marketing for their business and now have more clients/customers than they can handle! Or, if they DID complain about that, they just didn’t plan their inventory or resources well enough (see Plan, Plan, Plan listed above again).
Social media, as we’ve mentioned before, is a good way to get some free (or relatively inexpensive) advertising done. It’s also the method by which most of your consumers will notice your company, especially when you’re just starting out. Business pages and websites are also a good method of marketing, as well as making YouTube videos directed at potential clients and customers. There are also companies you can hire to help you get a certain amount of leads for future customers in X amount of time (depending on the leads you need, your timeline, etc.).
Last, but certainly not least, you must choose the person or company from which you will purchase the products you sell. Even if you have decided to make your own, you will still need someone from whom to buy quality CBD supplies. You can either ask around for recommendations, choose someone you already know, or look online. Sites like Fresh Bombs offer great deals on CBD bath products wholesale,
There is a great deal involved in getting the ball rolling as a CBD entrepreneur. However, it does not have to be so complex that you get overwhelmed and frustrated before you even get started. With plenty of information and resources at hand, and guidelines like this one available at a click’s notice, you should never have to feel that you must do it all on your own. For even more information, Fresh Bombs also has a FAQ page. Feel free to look around and see if any questions you have might already have answers!
No matter which method(s) or option(s) you choose, just make sure that you have ALL your bases covered, especially before your business is ready for the public!