The CBD market is going to reach $16 billion in sales by 2026. It’s on a steep upward trajectory, and many companies and individuals are jumping on CBD business opportunities.
It makes perfect sense because the general population turns to CBD for pain relief and to treat anxiety and depression. They prefer CBD products rather than expensive pharmaceuticals.
Do you want to be a small business owner in the CBD industry? There are a wealth of opportunities in this growing industry.
Which one should you jump on? Keep reading to learn the top CBD business opportunities to consider in 2021.
1. CBD Blogger
Do you know a lot about CBD? You can share your expertise in CBD and write about it. As people become interested in CBD products, they try to learn more about them.
They’ll look online first. Your blog can be a source of education, and you can answer questions like, “Is Ultra Broad Spectrum Distillate Lab-Tested?”
You can expand your expertise beyond a blog. You can add other items on this list, such as a podcast, and CBD conferences. That allows you to create multiple streams of revenue under one umbrella.
You can create an entire media company that influences the entire CBD industry.
2. CBD Food Truck
You can put your culinary skills to the test by opening up a CBD food truck.
A food truck is an excellent starting point because it has low overhead. You can make and sell CBD meals, smoothies, and snacks right from your truck.
You can take your food truck to different dispensaries, festivals, and retail establishments. That lets you build your brand and position yourself to open a CBD restaurant.
3. CBD Podcast
There are 2 million podcasts out right now. There are several outstanding CBD podcasts, but you can create a specific niche for yourself.
You can start a podcast on the CBD industry, CBD and wellness, or talk about cooking with CBD. There are still many unique angles to take.
Find something that you love about CBD and do something that hasn’t been done.
4. CBD Spa
A CBD spa is a creative space where people can take advantage of CBD and relax. You can provide massage and other spa services while using CBD products.
You can turn that into an educational opportunity. Many people are beginning to understand the benefits of CBD. The education component with relaxation is a huge opportunity for a small business owner.
5. CBD for Pets
The science isn’t there to back it up just yet, but pet owners seem to swear by CBD for pets. It can be used to help pets cope with anxiety and treat pain.
You can create CBD products specifically for pets. Be aware that CBD could cause complications if pets are given the wrong dosage. You have to make it clear to your customers that they can’t confuse dosage amounts with humans and pets.
6. CBD Subscription Service
The pandemic made people realize that they can get virtually anything delivered to their door. Subscription boxes got a huge increase in demand over the last year.
People want the chance to experience different types of CBD products, and CBD subscription boxes fills that need. You need to work with high-quality vendors to give customers a superior experience.
There are sites like Cratejoy that offer subscription boxes of all types. You can start there to market your boxes.
7. CBD for Athletes
Elite athletes and weekend warriors have to deal with muscle soreness and inflammation after intense exercise. CBD helps reduce inflammation and soreness.
Athletes recover faster and perform better. You can create CBD products that cater specifically to the needs of athletes.
If you can sell CBD products that are within doping rules and regulations, you will have a thriving business.
8. CBD Service Provider
You can start a CBD business without selling CBD. You can be a service provider that caters to CBD businesses. It’s one of the best CBD business opportunities out there.
Do you have expertise in marketing, website development, or accounting? Turn that expertise into cash by working with CBD businesses.
CBD businesses have unique challenges because they have to stand out in a competitive market. A strong brand helps them excel.
They also have tax challenges that ordinary businesses owners don’t face. Accounting services that give CBD business owners peace of mind can go a long way.
9. CBD Conferences
Since CBD is a growing industry, there needs to be opportunities to network and connect suppliers with retailers. Trade shows and conferences provide this chance.
You can be an event planner or create a company that puts together conferences for the CBD industry. The conference industry generates billions each year, and your conferences can get a piece of that.
10. CBD Distributor
A CBD distributor acts as a wholesaler. You would buy large quantities of CBD products at discounted rates, then sell those products to retailers at a 20% markup.
You do need to be a licensed CBD distributor and you have to turn over your products quickly. An existing network of CBD retailers is necessary to be successful from the start.
The rewards are great because of the markup. You could have a highly profitable business if you set up your systems well.
Take Advantage of These CBD Business Opportunities
If you’re ready to become a small business owner, you have to make sure that you start a business that will grow. The CBD market will do just that over the next five years.
These CBD business opportunities give you plenty of business ideas. You can start a CBD media empire or serve a specific population, like athletes or pets.
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