The cannabis industry continues to legalize and grow in front of our eyes. It didn’t take long for Cannabidiol (CBD), its more legal cousin, to become a hot commodity. You can find print on demand CBD products in nearly every large retailer these days. But, just as quickly, it’s evolved into a viable ecommerce solution for those looking to sell and buy it online. If you keep up with ecommerce product trends, you know that CBD is everywhere — in your food, drinks, oils, and pet food. Furthermore, CBD-infused products appear to be everywhere.
Of course, it’s not as simple as launching a website and expecting buyers to flood in. If you decide to sell CBD, you will enter a complex industry with numerous legal and marketing challenges. Before you sell print on demand CBD products online, you should know what to anticipate and how to prepare. Continue reading to learn how to navigate creating a CBD income stream in today’s world.
THE BOOMING MARKET OF CBD
The first business rule is to “go where the market is,” which can be easily determined by observing where consumers are already spending their money. You might be intimidated by market saturation and competition if you look at the explosive evolution of the CBD industry over the last few years. By 2024, the CBD industry is expected to be worth $20 billion. Furthermore, CBD is well on its way to becoming a household item for repeat customers who will return as long as the product is satisfactory.
EFFECTIVE WAYS TO SELL WHOLESALE PRINT ON DEMAND CBD OILS ONLINE
1. Purchasing CBD Oil in Bulk for Reselling
This model involves paying wholesale prices for many CBD oil products. And, because you’re buying in bulk, you might be able to negotiate a lower wholesale price with your supplier. However, you are responsible for storing, packing, and shipping the orders to your customers. That means you’ll need warehouse or storage space and the resources needed for shipping and handling.
Furthermore, CBD oils can be temperature sensitive. As a result, temperature considerations must be considered when deciding where and how to store them.
2. Fulfillment By Amazon (FBA)
Fulfillment by Amazon is another option that some online business owners use (FBA). You pay Amazon to store and ship your inventory from one of their fulfillment centers when you use FBA. If a customer purchases a product from your online store, Amazon will pull the item, pack it, and ship it on your behalf. As a result, many online sellers who use FBA own the inventory they sell through Amazon.
The advantage of FBA is that you can benefit from Amazon’s brand recognition, quality service, and large customer base.
One potential disadvantage is that inventory management can be difficult. And you must pay based on the amount of inventory Amazon stores for you and the length of time they store it. To succeed with FBA, you must understand sales volumes and forecasts to keep the right amount of inventory to maintain a profit.
3. Print on Demand Fulfillment
Then there’s print on demand fulfillment. We believe there is no easier way to resell products from the comfort of your own home.
Consider this: where else are you going to find an online business model that allows you to begin selling with:
- little to no capital risk
- no inventory or warehousing
- no shipping and handling
You, the seller, will not have to deal with the hassle of managing inventory with print on demand fulfillment. The supplier manages your inventory and ships the order to the final customer. Furthermore, you don’t have to worry about purchasing a storage space or risking your capital by front-loading inventory. You can start this business with almost no money at all.
Essentially, you devote your time and energy to doing what you do best: attracting the right niche customers to your website. Then leave the rest to a reliable print on demand company.
KEY TAKEAWAY
Starting an online CBD business may present legal and marketing challenges, but with the industry’s growth and continued legalization, now is the time to get in. You can still get ahead of the curve because the industry is still young.
Do you need help running a CBD oil business? Then a top ecommerce fulfillment company is what you need. Contact us to learn more about how Fulfillplex can handle your print on demand CBD fulfillment so you can focus on your brand rather than packing boxes. Request fulfillment pricing right now.
Check out our full catalog for a great selection of print on demand products for your business. Allow us to assist you in making your online store a success.
Note: Please keep in mind that this article is only for informational purposes and does not constitute legal advice.