How to Find Retailers For Your CBD Business
How to Find Retailers For Your CBD Business
CBD wholesaling is a lucrative way to get into the multi-billion CBD industry and leverage its continuing growth. Now that more people are recognizing and experiencing the benefits of CBD products, more retailers and resellers are also joining the market. One of the factors to consider when getting started in CBD wholesaling is finding sufficient clientele to get your business going. After all, how can you liquidate your stocks if you can’t find retailers to sell them to?
The 4 Kinds of CBD Retailers
To find retailers for your CBD business, you first need to know what to look for in the first place. Below are the 4 kinds of CBD retailers that you can do business with.
1. Head Shops
For the sake of those new to the industry, head shops are retail stores that specialize in the merchandise of items used in cannabis consumption and other related paraphernalia. These are deeply rooted in the hippie and cannabis culture, with some shops doing business since the ‘60s.
The advantage of selling to head shops is that they are often located in large cities and already have an established clientele. Head shop customers are typically repeat-clients, so if they liked the products that the store buys from you, you will most likely have an ongoing deal. Furthermore, head shops are often frequented by adult-use cannabis customers who may have stronger buying power.
2. Online Retailers
Online buying and selling is the rage these days. It is estimated that the number of online buyers will reach 2.14 billion by 2021. This is why many retailers take their businesses online. A quick Google search can give you an idea of how popular CBD products are among online sellers.
Partnering with online retailers offers great potential since there are a lot of them out there. However, you need to be prepared for the competition as other wholesalers also sell and get in touch with retailers online.
3. Brick-and-Mortar Specialty Shops
Certain types of brick-and-mortar stores could be open to retailing CBD products. These stores include vape shops, health and wellness stores, tobacco stores, organic merchandise stores, and alternative medicine shops, among others.
You can likely find such stores around your city or state, so you might not have much trouble getting in touch with the owners. These brick-and-mortar stores also tend to have their own customer base who may buy your products repeatedly.
A gym is not the first thing we think of when we think of a retailer but gyms can be a viable partner for your CBD products. The clientele that go to gym many times are striving to live a healthy lifestyle. Plus, CBD has been shown to have anti inflammatory properties. The sore muscles we experience after a workout, that is inflammation. CBD can be a great product for a gym goer and with the high traffic that some gyms get it could be a great partner for you too to make it a win/win.
There are many other businesses that are selling CBD products these days, the key is to know your audience and then focus on them.
How to Market Your Wholesale Products to Potential Retailers
Now that you know who to target, it’s time to plan your marketing and selling strategy. Here are some tips:
1.Reach out. Naturally, you need to build rapport with the retailers and introduce your business and products. You may visit the physical shops to demo your products to the owners. If possible, give them freebies. Meanwhile, you can find the contact details of online retailers on their website.
2.Offer great “intro” prices. One of the most effective ways to get retailers to partner with you is to offer them irresistible prices and deals. Consider giving freebies such as free shipping costs. One thing that has worked for me, is offering an introductory price and then allow them to continue with that price for the life of being a customer.
3.Offer marketing support. This is particularly important if it will be the retailer’s first rodeo in selling CBD products. Make them feel assured that you can provide them with sufficient marketing support when they need it.
Once you find retailers to partner with, you can expect your business to continue growing as long as you also take care of them. The key lies in building and maintaining a strong relationship with your retailers.
To learn about the CBD Wholesale Blueprint to scale your CBD business go here