With the rapidly growing popularity in hemp, its products, like CBD oil and CBD isolates, are predicted to become top in-demand products in 2019. Legislation is also doing its best to catch up to the demand, as the Agriculture Improvement Act of 2018 made hemp federally legal – another major step towards an explosion of investment and development in this exciting new industry. Studies and research have made their rounds online and the public is becoming more and more interested in the market with all the positive information out there about hemp. With the growing demand, of course, come opportunities for those who wish to build businesses around this burgeoning industry. A business is only as strong as the product it’s built on which is why it’s important to take a good amount of time researching a potential manufacturer. And with this imminent gold rush on the horizon, history has shown that there tends to be plenty of opportunists ready to make a quick buck without upholding standards of quality. For those looking to hire a reliable CBD Oil Manufacturer to become the foundation of a thriving CBD oil business, here are a few ways to discern between a quality product or a dupe.
Keep in mind a lot of investors and even customers are still apprehensive and unknowledgeable about the industry due to how new it is. Being that this is still an industry in its infant stages, you’ll be hard pressed to find any CBD oil manufacturer’s more than a year or two old. Obviously, the longer a company has been in business the better and the more established they will be. Being around from the 2016 or 2015 and earlier is more than just bragging rights – it means the manufacturer will have been in the business long enough to perfect their processes and adapt and really dig deep into the requirements, the legality of it all and of course, best practices. Let your competition do some of the leg work for you as you select a CBD Oil Manufacturer to add to your business model – Take a good look at their reputation in the market as you consider hiring them on.
This idea is not necessarily unique to the CBD Oil industry as it works for any manufacturer/ wholesale chain system with any product, but If you want to keep up with the rapidly growing demand and avoid a pile up of unfulfilled orders that could affect your business’ performance in the long run, you’re going to need to secure a professional, experienced manufacturer that has their system down pat and can supply you with enough product to keep up with your orders coming in fast enough. Many CBD Oil so called private labelers will try to normalize a 5-12 week wait time for their clients to receive the product; When you go directly to the manufacturer, you can benefit from a much shorter wait time of 5-10 business days. This will really speed things up and keep your supply/demand chain flowing.
Another good way to be sure a manufacturer is legitimate and really does their due diligence is to verify that they are FDA registered. This will ensure their product adheres to the guidelines set forth by the FDA, protecting your clients and ultimately, your business from any trouble like claims, complaints, returns and losses. Finding a manufacturer that is insured is also a huge plus in case anything were to go wrong. While hemp is resilient, having crop insurance is still quite necessary if you are to secure a steady flow in a supply chain. Lastly, a legitimate manufacturer should have a GMP (Good Manufacturing Practice) Certification. This certification is a system that ensures products are produced and controlled in a consistent manner, in adherence with quality standards. These standards are designed with the goals of minimizing risks involved with pharmaceutical production that can’t be eliminated through testing the final the product. These are all highly important factors that help give your manufacturing infrastructure a solid foundation.
Another factor that can set your business apart is your selection. If you can offer your clients various options, especially in this new industry that is quickly attracting new customers that are curious and ready to try what the market has to offer, then you’ll be setting yourself up to win. Finding a manufacturer that offers plenty of CBD Oil products in drops, edibles, supplements, terpenes, tinctures, Skin Care, capsules, isolate and more can truly give you the upper hand and it will also give you the flexibility to decide on what type of business model and premise you want to create. A manufacturer that has the flexibility of offering different options such as wholesale products, private label products, products available for drop shipping and custom formulation will allow your business to operate however you need it to. While some manufacturers offer only one of these options or a few, it’s always ideal to go with one that offers as many product options as possible in case you want to add more products to your lineup in the future; it’s always preferable to deal with the same manufacturer so you benefit from things like bulk product discounts and so you can count on an established relationship. You won’t have to go hunting for a new manufacturer every time you want to add a new product to your offerings. Having a manufacturer that does it all while still maintaining quality will give your company that competitive edge you need to succeed.
If you keep some of these things in mind when researching manufacturers, you’ll be able to narrow your search quicker. Getting your CBD Oil business off the ground relies on a dependable manufacturer. Do your research thoroughly, but in our experience, choosing a manufacturer that adheres to what we outlined will help set you up for success in the best way!
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