It wasn’t long ago when cannabidiol (CBD) was just an alternative form of treatment for patients suffering from different medical conditions.
Today, it is one of the most rapidly emerging industries in the world with a projected market value of over $2.5 billion by 2022.
So if you’re looking to start a business, being in the CBD industry would be a smart move. Since most of the CBD trade is done online, you will need a CBD website to kickstart your business. Here are three things that you’ll need to make that happen:
- Set up a high-risk merchant account.
It’s no secret that CBD is such a controversial issue in business today, which is why all CBD businesses are considered high risk by payment processors.
So if you’re going to create a CBD website, you need to apply for a high-risk merchant account first. Some of the things that you should look for in a good provider should include:
- A fair contract. As a high-risk merchant, you’ll most likely be tied to a long-term contract that includes an early termination fee. The trick here is to read the fine print before you agree on anything to avoid any gray areas that could put you in trouble in the long run.
- Reasonable pricing. It’s already a given that you’ll be charged higher than a low-risk merchant, but you should also look for a provider that could offer you reasonable pricing including processing rates and annual fees.
- Customer support. You can’t guarantee that the system will be flawless all the time, which is why it’s very important to go with a provider that offers customer support to deal with issues regarding payments at any time.
- Learn about the rules in selling CBD.
With CBD still having some gray areas when it comes to legality, it’s very important to learn about the different rules for selling CBD to know what you can put on your website and what to avoid. For one, you need to check local state laws and test CBD products before selling them on your website. You also need to offer good product descriptions and avoid making medical health claims about your products.
- Find a good web design team.
Once you have all the research done and your high-risk merchant account ready, it’s time to build your website with the help of a good web design team. Keep your layout simple so your products are highlighted properly.
The homepage should contain all the basic information that consumers will need about your brand and products, and the inner pages should be well-curated to offer a good explanation about what you’re offering. Of course, you need to use SEO tools to optimize your website so it ranks well in search engines.
The bottom line
Although there are still some controversies surrounding the CBD industry, there is no denying that it is one of the most attractive markets in the world today.
As long as you follow local state rules and offer the right information to consumers, you’ll surely earn well and grow your business before you know it.