5 Keys to Picking the Best CBD Wholesale Partner
CBD Wholesale Partner: So, you are looking for CBD Wholesale Partner? Well, you have come to the right place for advice on where to find the right CBD Wholesale Partner
The CBD market has exploded in recent years, with some estimates valuing the industry at $2.8 billion in sales for 2020 alone. And the explosion of growth isn’t expected to end anytime soon. So, how can you get in on the action? Well, the first step to starting any successful CBD business is to find a reputable CBD wholesaler to partner with. And while there are many great options to choose from when it comes to CBD wholesalers, separating the heroes from the zeros can be a daunting task. That’s why we’ve compiled our list of five keys to successfully picking a CBD wholesaler below.
The truth is, very little separates most wholesale CBD purveyors on the surface. Most will claim to only use hemp sourced in the USA for example. It is only when you do a little digging that you can find what differentiates a CBD wholesaler you want to partner with from one you want to avoid. Do this by keying in on details such as who uses the best ingredients, has vigorous quality controls in place, and can provide a diverse product set at fair prices. By focusing on the details when choosing a reputable partner, you’ll be much more likely to find a CBD wholesaler you are happy with in the long run.
Integrity of Ingredients
The first thing most consumers will look for in their CBD is quality sourced ingredients. And as most CBD users will consume the product for therapeutic reasons, the ingredients should be as healthy and wholesome as possible. This is part of the reason why, when looking for a CBD wholesale provider, it is important to look for one whose products are non-GMO and organic if possible.
Independent Quality Control Systems
One of the most crucial aspects of any business relationship is trust. This is especially true in the CBD industry, where products remain sealed until purchased and trust can be in short supply. Therefore, having quality control systems in place is so important. At a bare minimum, a wholesale CBD provider should have their products independently certified and tested. The gold standard in the industry is third-party lab results, which can help give both resellers and consumers peace of mind that they are getting what they paid for.
So, when it comes to finding a CBD wholesaler, trustworthiness is important for sure, but verifiability should be the cornerstone of any business relationship. In short, if you can’t be sure what you are getting from a wholesaler, you can’t be sure what you are giving to your customers. This is why access to third-party lab results for all products is so vitally important.
Synergy in Branding
Choosing a wholesaler is about more than just finding whoever can give you the best CBD products at the lowest prices, it is also a grand opportunity to align with a partner who can help you with branding and marketing. While some wholesalers will be happy to provide you with white label products you can make your own, the most cost-effective option is often to go with a provider who has their own existing branding and packaging that you can use. Each option has its own benefits and detractions.
For example, if you go the white label route, you can exercise much greater control over your branding and packaging, which will help you stand out in a crowded marketplace, but this freedom will come at a considerable additional expense. For those that are hoping to avoid the expense of marketing their own CBD brand, tapping into the groundwork that a wholesaler has already laid out can be an attractive option. Some benefits of using a successful wholesaler’s house branding include a built-in audience and customer familiarity. A downside with choosing this option is that you are now effectively tied to branding you have little control over, for better or for worse—and there is no guarantee that the branding will be a great fit.
Availability of a Diverse Set of CBD Products
One of the biggest aspects to consider when choosing a CBD wholesaler is the array of products they can offer. Some wholesalers offer hundreds of products in a diverse range and multiple sizes, others will have just a handful of options. Which is more attractive to you is somewhat a matter of personal preference.
Will you be trying to chase all of the latest trends and fads in the CBD industry? In that case, a wholesaler with a more diverse set of products may be the way to go. Or are you not interested in carrying novel products that may not sell well? Then partnering with a wholesaler whose offerings are more limited will most likely be perfectly adequate. One advantage of going with the latter type of wholesaler is that they usually can offer more competitive pricing as they don’t have to deal with the expense of producing multiple different product lines.
Fair Pricing and Shipping Rates
The final key we will cover is crucial, as it will likely underpin all financial decisions. Finding a quality CBD wholesaler is important, but so is being able to afford them. This is why doing your due diligence is so important, as wholesale prices and shipping rates can vary greatly from provider to provider.
To help know what you can afford, it is helpful to create a budget with all of your fixed costs, rent, insurance, etc., and figuring out what pricing model your situation can support. Once you have this information, you can use it to help gauge the competitiveness of different CBD wholesaler’s pricing.
And while it may be tempting to focus on the pricing of the products alone, don’t forget about factoring in the cost of delivery. And with inflation these days, shipping costs can easily begin to equal the price of the product itself. This is especially if your wholesaler relies on a long supply chain that can easily be interrupted, as has been the case with some Chinese firms. For this reason alone, it may be worthwhile to prize a local wholesaler who is more expensive over one who is cheaper but further afield.
We’re Always Here to Help!
As you can see, there is a lot to consider when it comes to choosing a wholesale CBD provider. But, hopefully, you’ve come to agree that, by asking the right questions and doing your due diligence, finding a reputable CBD wholesaler need not be an arduous task. In fact, taking the time to find the right partner can save a lot of trouble and headaches later.
Think we missed something? Have questions about anything we’ve discussed above? Feel free to reach out! And, as always, thanks for reading!