Why CBD is a good decision for your business.
Is CBD a good decision for your business? Should you carry CBD products? There are many compelling reasons to do just that, so we’ll provide a deeper dive into why.
A recent Consumer Reports study revealed that 40% of Americans are interested in trying CBD, and 26% already have tried it. What’s fueling all of the hype and current public interest in CBD? Since the 2018 Farm Bill federally legalized hemp you can find it everywhere, from small local retail shops to some of the country’s largest retailers. Harvard and other reputable sources have verified the health claims and safety of CBD. Plus, people are becoming more interested than ever in health and wellness, including more natural products and fewer prescription drugs. Learn more about consumer demand for CBD here.
Massive potential profits.
Another reason CBD is a good decision for your business is the potential for profits. CBD products generated an estimated $2 billion in revenues last year, according to the investment firm, Cowen Inc. That’s a hefty sum. However, it is a drop in the bucket compared to where the industry is poised to go. The Brightfield Group projects CBD to be a $22 billion industry within the next two years.
Some of the biggest retailers in the country understand the potential profits out there and have joined the CDB sensation. Some include:
- Neiman Marcus
- Swanson Vitamins
- Thrive Market
As you can see, these are some of the largest retailers in the country with hundreds of locations.
CANVIVA CBD offers high-profit potential per square foot of space in your business. A case containing 16 CANVIVA tinctures with an MSRP of $65 will generate $531.20* of profit. If you sell just one tincture a day at $65, the profit to your business is $996** per month.
Legal doors continue to open for CBD.
So why all the confusion over whether CBD is legal to produce, sell, and purchase?
Now for the legal bottom line. Thanks to the 2018 Farm Bill, CBD is regulated by the Department of Agriculture. It is legal to produce, sell, and use nationwide as long as it’s derived from hemp grown by a licensed grower under a given set of regulations. To be sold in the U.S., the CBD must contain less than 0.3% THC.
Ebook: What Every Business Needs to Know About Selling CBD
Your go-to resource for everything you need to know about selling CBD, including CBD research highlights from Harvard, Medical News Today, Consumer Reports and others; the legality of CBD; the features to look for in any solid CBD product line; and the major national retailers now selling or preparing to sell CBD products.
*Based on a single case order of 500mg tincture. Does not include SOLUBLE and/or 1500mg tincture.
**Profit is calculated on a 30 day cycle from only selling 500mg tincture. Estimate does not include SOLUBLE and/or 1500mg tincture.
ALL PRODUCTS CONTAIN LESS THAN 0.3% THC AND ARE LEGAL IN ALL 50 STATES.