The cannabidiol (CBD) market is expected to reach $13.4 billion by 2028. More people are getting to know about the health benefits that CBD has to offer, making CBD businesses extremely lucrative.
Because CBD was legalized in 2018, it’s much easier to sell and get into the CBD business. Yet, you first need to learn about the various CBD business opportunities to find what might be right for you to pursue.
Keep reading below to learn more.
Food and Beverage
CBD-infused food and beverage are incredibly trendy this year, and you can do it in many different ways. There are chefs that make whole meals with CBD, so you could open a restaurant that sells CBD-infused food.
Or, you could stock CBD drinks at convenience stores. If you’re a baker, consider baking CBD baked goods and selling them to dispensaries.
Just ensure you are constantly testing your products, as this is essential when working in any part of the cannabis industry. If you’re interested in additional information, click here to learn more about cannabis lab testing.
Makeup is one of the best CBD oil products because of all the benefits it provides. You can also take this business venture in a few different ways.
Currently, you can find CBD makeup products such as mascara, eyeliner, eyeshadow, foundation, concealer, and more. CBD can help reduce inflammation in your skin while also calming down acne or red spots.
Because of these properties, you can market CBD products as not only beauty products but also health products. More people will want to reap these benefits, and it is still a relatively new market to capitalize on.
Consider partnering with local stores to sell your beauty products or handing out samples on the street. Creating an online store is one of the easiest ways to get your products out there and seen.
Pet food is one of the newest parts of the cannabis industry, so if you’re already in the market, you should consider adding this to your business.
Many pets experience pain or anxiety, and pet owners are willing to do pretty much anything to help them. CBD may help relieve chronic pain in pets and help calm them down during anxious episodes.
Consider creating CBD-infused food or treats and selling them to your local pet stores and cannabis dispensaries. Just consider that as a small business owner, you will have to pay the upfront costs, which can be pricey when creating edibles with CBD.
Ready to Pursue These CBD Business Opportunities?
There are so many different CBD business opportunities, and right now is the best time to pursue them. The CBD market is still relatively new, allowing you to get your foot in the door and create your unique spin on CBD products.
Consider what will be most lucrative for you, and follow that. With so many different ways to use CBD, you can’t go wrong.
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