Top Challenges Facing Online CBD Businesses
When you’re first getting started in the CBD business, figuring out how you want to sell your products can be the hardest part. Selling in brick-and-mortar retail stores is always an option, but it limits your customer base and makes it hard to get your products in front of a broad audience. For a new CA CBD retailer, selling products online is the best option. However, online CBD businesses and sales aren’t always straightforward. There are challenges you’ll need to navigate if you want to be successful. Here are a few of the most common issues you’ll need to resolve immediately.
Choosing the Right Sales Platform
There are dozens of eCommerce platforms that make selling products online relatively simple. When trying to choose the best option for your CBD oil and CBD products, look for a platform that’s easy to use and makes updating product listings, prices, images, and any other relevant information easy. Pay attention to the types of technical support each platform provides. The last thing you want to do is choose an eCommerce platform that doesn’t help you figure out technical issues as they happen.
Processing Payments Quickly
Before you can start taking orders from customers, you need to figure what types of payments you’re willing to accept and how you’ll accept them. Unfortunately, even the best CBD companies in California are high-risk companies. This means most major payment processing companies aren’t willing to work with them. You’ll need to find a processing company that works with high-risk businesses or is familiar with the CBD oil industry if you want to accept major credit and debit cards online.
Keeping Business Finances Separate
All businesses benefit most when personal finances are separate from business finances. However, since many financial institutions consider CBD companies high-risk, most won’t issue you a business checking account. This makes it hard to manage your company’s money. Keep an eye out for banks and local credit unions that are willing to partner with your CBD company. You may have to verify that you make your CBD products from hemp and that each product you sell contains no traceable amounts of THC to qualify for the account.
Finding a Reliable Shipping Method
Believe it or not, some shipping companies refuse to ship CBD products of any kind. Don’t hesitate to contact each major shipping company and find out what their restrictions are. Companies like UPS, DHL, and the USPS are currently willing to process CBD shipments. FedEx, on the other hand, refuses and will not accept your packages or deliver them to your customers.
Starting an online CBD business is challenging but doable. As long as you’re able to solve these key challenges quickly, you’ll be in good shape. Remember to keep your customers in mind with everything you do. The more you prioritize their needs and listen to their concerns, the easier it will be to get your company to stand out.
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