A Rapidly Growing Industry
Now is the perfect time to take advantage of CBD's fast-growing industry. With the heightened awareness of its potential health benefits and its newfound legality, this unique form of natural medicine is taking the world by storm. Consumers can find cbd gummies, cbd capsules, cbd vape pens, and so much more on the current market.
However, if you want to get in on the CBD action, there are a few things you need to know before starting your own brand. Our team has put our heads together to create an article explaining all the things to consider before starting your very own CBD brand.
What is CBD?
First, it is good to know what CBD is and where it comes from. Cannabidiol, or CBD as it’s abbreviated, is one of the most common compounds found in the cannabis plant. We refer to these types of compounds as cannabinoids. Like other cannabinoids, CBD is primarily concentrated in the crystalline structures called trichomes found on the outside of cannabis buds and hemp flower.
Unlike the most popular cannabinoid THC, CBD is non-intoxicating, so consuming it won’t get you high. However, there are plenty of benefits from CBD, making it a great material to work with and a great industry to be in.
Different Forms of CBD
Before you start your CBD business, you will need to decide which form, or forms, of CBD you will be using for your products. The three main forms it is found in are, Full Spectrum CBD, Broad Spectrum CBD, and CBD isolate.
Full Spectrum CBD
If the goal is to give your users the full benefits of the hemp plant, Full Spectrum CBD is the way to go. This form contains all the cannabinoid and terpenes that naturally occur in the hemp plant and hemp stock, including THC. However, if the product is made with legal hemp, it should only contain 0.3% THC or less.
Broad spectrum CBD will give users all the benefits of the cannabis plant, minus any THC. This means supplying your products with cannabinoids and terpenes, and none of the funny stuff.
For brands looking to solely have CBD in their products, CBD isolate is a great choice. CBD isolate is created by distilling CBD extract to get a product that only contains the cannabinoid CBD. Consumers will not need to worry about the THC content since this form does not contain any.
Is CBD Legal?
Those starting their own CBD business may be wondering about the legality of using the compound. Under the terms of the 2018 Farm Bill, all hemp plants and the CBD derived from those plants are considered federally legal. However, the FDA hasn’t actually approved over the counter CBD as medicinal products or as dietary supplements. Brands marketing CBD should keep this in mind when marketing their products so they do not get a letter from the FDA.
And while there is no way to tell if CBD extract was derived from a hemp plant or cannabis plant, those extracting from a cannabis plant should be aware they are walking a very fine line.
Research Before Starting Your Brand
Starting your own CBD brand is definitely a great business opportunity, but it's important to do your research first. The most important decisions align with deciding which third party lab tests you'll use to verify the quality and consistency of the product, sourcing your CBD from a reliable supplier, and working on a strong marketing campaign before launching.
Choosing the right supplier and lab testing facility will only add to your product's authenticity and quality. Being thorough in the early stages can save many headaches down the road. Plus, who doesn't love a good brainstorming session? With thoughtful planning and background research, you can help ensure that your CBD brand stands out among the rest.
What Makes Your CBD Brand Unique?
To be successful in the crowded CBD space, creating a unique brand is absolutely key. Identifying what makes your product and offerings distinct from the competition can provide you with an advantage and create a clearer marketing message as customers will easily be able to see what sets you apart.
To identify points of differentiation between brands, think through factors such as the price of your products, quality of ingredients used, customer service experience, and even your company's story. All of these are important to consider when working to carve out a unique space in the CBD industry for your brand and products.
Choosing a Name and Logo
When it comes to making a statement with your brand, having great visuals is key. Creating a catchy name and memorable logo for your CBD business can draw potential customers in and help bring more awareness to your company. It's important to create something unique that will be easily recognisable, but you also need to ensure that the logo reflects the values of your business and resonates with customers.
Brainstorm creative ideas, consider what type of style your design should have- modern or classic?- and think up some witty puns if they fit with the nature of your business. In the end, a strong identity helps to have you stand out from the competition and drive engagement with potential customers.
Create a Website and Social Media Accounts
Creating a website and social media accounts for your brand is a great way to give yourself presence and authority in the competitive online marketplace. It allows you to build an environment and community around your brand, communicate with both customers and potential customers, share product updates or new releases, gain insight into customer feedback, and promote special offers and deals.
From tracking analytics that show which pages are getting the most hits to advertising campaigns that target specific user profiles, having professional online accounts can be a valuable tool when it comes to building your brand equity. The key is to recognize that technology can be a powerhouse resource in helping you grow your business—so make sure you're taking full advantage of all the opportunities available!
Start Marketing Your CBD Products!
With the tremendous surge in CBD products over the last several years, now is a great time to get your brand up and running. When marketing your product, you'll want to focus on how it can benefit customers, plus showcase various tips and tricks for use.
Many digital and print media outlets offer advertising services, so research what will be the most effective for your audience. Of course, promotion doesn’t have to stop there. Social media channels and user influencers could also be a great way to get the word out about your product.
Whatever methods you choose, the key is staying visible by providing quality content that will catch people's attention and have them clicking through to see more — remember that's where they'll find their way to you.
Welcome to the CBD Industry
With the CBD industry growing at a rapid pace, now is the time to jump on the bandwagon and start your own CBD brand! However, before you get started, it's important to do your research and figure out what makes your brand unique.
Once you've figured that out, choose a catchy name and logo for your brand. Then create a website and social media accounts to start marketing your products! If you're looking for a head start in choosing the best CBD products for your brand, check out E1011 Labs white label opportunities.