If you heard that the CBD industry is doing particularly well these days, you heard right. Experts were expecting a growth rate of 31.9% in 2020—and this number is set to grow in a post-pandemic world. There are already calls for a re-evaluation of how much the industry is expected to grow.
CBD is doing great during the pandemic—while other businesses seem to be doomed! CBD sales during the pandemic have increased dramatically, and digital marketing played a major role here.
But while the stats are impressive and prospects look lucrative, how easy is it to jump onto the CBD business bandwagon these days?
Launching a Company Is Just the Beginning
Operating a CBD business is nothing like operating a business in any other industry. Not only will you have to launch a company, but you’ll have to grow and manufacture your products. Or if you’re sourcing them, you’ll need to find reliable farmers and/or distributors who can provide you with excellent produce. And we haven’t even mentioned all the regulations!
Depending on whether or not you’re manufacturing subsequent products—such as tinctures and gummies—on your own, you will have to ensure product quality as well.
And it doesn’t stop there.
Then there’s marketing, setting up a web presence, customer service, choosing between a physical location and an online store, and so much more. In short, it’s as hectic as setting up any business—with added hassles and hindrances thrown in for good measure.
Sound too much?
How About a Franchise?
There’s no better in the CBD business than someone managing sourcing and hundreds of other facets of your business.
But franchises can help you do exactly this. They’re an excellent alternative to spending a fortune on setting up individual stores. Franchises also allow you to benefit from their marketing—so no publicity, no farming, no manufacturing, no quality checks; nothing except doing your part as a store owner.
It’s a win-win!
Eager to Start a CBD Business?
Try-It-CBD has made it beyond streamlined for CBD enthusiasts to start a business. You can set up your own business in your state of residence. All you’ll need is an investment of $35k. Try-It-CBD will help you with the products, the set-up process, business management and planning, and more.
Try-It-CBD has helped several entrepreneurs build their own businesses from the ground up in the past 12 years. We can help you too. All you need to do is reach out to us and find out more about this exciting franchise opportunity.