The popularity of CBD has skyrocketed since the 2018 Farm Bill legalized hemp use. Today, approximately two-thirds of Americans are familiar with cannabinoids and one-third have tried CBD. In 2018, the global market for CBD was worth just over $3 million. Experts predict sales in the US alone will surpass $20 billion by 2024.
There are countless new jobs within the CBD industry, and many potential CBD businesses take very little startup capital to get off the ground.
If you’re looking for CBD business ideas and wish to break into the world of CBD by starting your own business, here are a few ideas to get you started on your journey.
1. Launch a CBD Blog
Launching a blog is something you can do in your spare time, and there is potential to move into full-time production if it takes off. With a CBD-centric blog, you can help new users navigate unfamiliar territory with posts offering advice, product reviews, and recommendations. You may be able to earn extra money with affiliate marketing.
You won’t need much money and amenities to get started. In addition to a computer and a suitable software program, all you’ll need is a platform like WordPress and website hosting.
2. Start a CBD Podcast
If you prefer speaking instead of writing, starting a podcast may be worth trying out. Much like a blog, you can offer advice and review different products on the market. You can also talk about the latest CBD news or other CBD-related topics you enjoy.
To start, all you need are a good quality microphone, a quiet recording area, and a podcast service.
3. Become a CBD Distributor
A CBD distributor or wholesaler turns inventory over quickly by selling to retailers. You will need good communication skills, as you’ll need to work directly with CBD manufacturers to arrange deals. You are the middleman between CBD manufacturing companies and retail stores.
4. Teach CBD Cooking Classes
Do you enjoy CBD as well as cooking and baking? If so, you may be able to combine your two passions into a unique business opportunity. One option is to become an edibles chef by infusing sweet and savory items with CBD. Or, you can teach others to create their own delicious treats.
As a cooking class instructor, you can teach other CBD enthusiasts how to make a wide range of tasty foods, including the CBD-infused butter and oil most recipes require. You can also sell your recipes or write a cookbook.
5. Become a CBD Consultant
If you’ve spent a substantial amount of time researching CBD or have worked with CBD products for a long time, you might consider offering your services to others who might be less knowledgeable. You can work with business owners by helping them understand their products and customers better. You can share what you know about the wide range of different strains, processing methods, growing techniques, and more.
So, Launch Your CBD Business Today!
Starting a CBD business now can help to put you in a great position as the market grows. Many CBD business ideas don’t require a lot of startup capital to launch. If you do need some help, you can find CBD business loans, which can provide you with the funding you need to get going.
If you need a CBD business loan to turn your business idea into a reality and want more information about your cannabis funding options, visit Bespoke Financial today!