According to Julia Roberts, “Loving what you do is the secret to everything.” You may think this is easy for her to say as a world-famous actress with millions in the bank, but it can apply to you. If you find yourself wanting something more out of life, a career change, or even just a new challenge, becoming a CBD oil distributor in the UK might be something you should consider.
How to Be a Successful CBD Oil Distributor?
In all honesty, becoming a CBD oil distributor can be challenging at times. There are laws you need to follow that are forever changing, and you have to make sure the products you sell are certified and tested. You also need to navigate a market that hasn’t been mainstream for very long.
However, the rewards far outweigh the challenges you will face. If you stay motivated and follow the following steps, you are well on your way to becoming a successful CBD oil distributor.
Get to Know the Laws and Regulations
The UK CBD market is bound by ever-changing laws and regulations that CBD companies need to follow. As a CBD distributor, you will need to be sure you stay within the law when selling CBD oil.
You can only sell CBD oil that contains no more than 1 mg tetrahydrocannabinol (THC) and cannabinol (CBN) per finished product and is extracted from hemp with no more than 0.2% THC. You are also not allowed to make any medical claims not backed by scientific research.
Furthermore, you need to apply for a Novel Foods certification to sell CBD products in the UK.
There are many more laws to keep track of which can change regularly. Ensure you always keep up to date with these to stay within the legal limits.
Decide on a Name
Names are significant and can play a massive part in whether or not you succeed as a CBD oil distributor. You want a name that will attract the right people, and that tells the public what your business is all about. Think long and hard before you settle on a name and ensure that it suits your business. For example, if you’re trying to market your CBD oil to a demographic such as older people who are interested in the potential health benefits of CBD, a name that invokes getting high or stoned just isn’t going to cut it. Read the crowd!
Once you’ve settled on a name, you need to sort out the administrative side of your business, such as registering your company and setting up a business plan. Everyone hates admin, but it is vital when starting a business, especially when becoming a CBD oil distributor.
Set Up a Business Plan
This one is simple enough. Just like every other company, a CBD company needs a good business plan to move ahead. Without one, your business is more likely to fail, and it will be unlikely that any bank, investor, or insurance company will take you on. You need to do your research before drawing up a business plan and review it carefully once you complete it.
A clear business plan can help you:
- Set goals and priorities for your business
- Manage cash
- Adapt to change easily
- Strategise better
- Be accountable
- Track your progress
As your business grows, you can refer back to the plan or amend it to ensure you are on the right track.
Decide on Wholesale or White Label
Buying either wholesale or white label CBD oil is beneficial, but there are differences between the two that you should consider.
Buying wholesale is great if you want to buy in bulk at a lower price. Usually, wholesale is for large quantities; however, you can order smaller amounts as well.
The benefits of going with wholesale include:
- Established brand: the products you sell already have a loyal customer base, and there is no need for you to create any branding
- No need to apply for Novel Foods certification: if the wholesale CBD oil you are selling comes from a reputable brand and has the necessary certifications, there is no need for you to jump through hoops trying to get certified
- Lower shipping costs: Depending on where you source your CBD oil, you may even save on shipping costs when buying wholesale pallets, compared to ordering products separately
This may sound amazing, but you also have the option to buy white label. White labelling is when an established brand removes its labelling from a product. It then uses the branding and labels requested by another company buying the product from them.
The benefits of buying white label products are:
- Easy to brand: You won’t need to worry about research or development. As the reseller, all you have to do is add your branding
- Saves time: You won’t need to spend years researching to create a product that will fulfil your customers’ needs as the brand you got the white label items from already did this for you
- Saves money: You don’t need to spend money researching and creating a product that is safe and which your customers will be happy with
Finding a Trustworthy CBD Oil Supplier
With so many potential CBD oil producers out there, you could be confused about which one to go with. Luckily, various companies have programs that can sort fake sources from reliable ones.
The Extract has a CBD wholesale and CBD white label program to help you find a safe and trustworthy supplier. These programs give CBD oil distributors all the information they need to find reputable wholesale or white label suppliers. The Extract has even made a list of accredited CBD oil wholesale and white label suppliers you can choose from.
Becoming a successful CBD oil distributor will take time and effort and may even cause a few grey hairs. However, you stand to not only make a lot of money, but also help those in need of CBD oil. Who knows, you may even end up loving what you do.