Since the legalization of cannabis some time back by several countries, the CBD industry has grown. At the moment, many people are now aware of the various CBD-based products on the market. As a result of the high demand for CBD, a new type of cannabis user has emerged. The growth of the CBD industry has come as a surprise to many people. Many companies are reaping big rewards because of the cannabis plant. You might be thinking of joining the profitable business of CBD. Many people may think it is too late or may refrain from entering the industry because they lack the required knowledge. Here is all you need to know about getting into the CBD business.
So, What is CBD?
CBD stands for cannabidiol, which is derived from the flower of the cannabis plant. Cannabis flower is the only plant genus that contains a unique class of molecular compounds known as phytocannabinoids. There is a large number of cannabinoids found in the cannabis plant. The two most well-known are tetrahydrocannabinol (THC) and cannabidiol (CBD). THC is the psychoactive ingredient of cannabis, meaning that THC is the component that gets you high. On the other hand, CBD is the anti-psychoactive ingredient and doesn’t get you high.
There are two subspecies of the cannabis plant. One is the marijuana plant, which is rich in THC, thus has been cultivated mainly for recreational use. The other type of cannabis plant is hemp, which is low in THC and has a high amount of CBD. Hemp was historically cultivated for industrial uses. To understand what CBD is and why it is only recently burst into such almost revolutionary prominence, it is essential to know about both the history of cannabis and the biology of its use. It is believed that the plant was used medicinally for recreation and spiritual reasons throughout much of humankind’s history.
Starting Your CBD Business
Depending on your state law concerning the growing of hemp, there are several ways that you can join the hemp business. You can grow entire hemp plants, harvest it, cure it, or dry it and sell the end product. You can also jump in the industry and do things like selling seedlings and clones. It is not too late to get into the CBD industry as there are a lot of opportunities.
When getting started, you need to identify where you will get the source of your product. You can either grow it on your own or use the various online CBD supplies. You can find more details here on how to purchase CBD from a wholesale supplier. After finding a provider for CBD, you should consider having an online presence where you can sell the products to your customers.
Legal Status
The legal status of cannabis in the USA can be a little controversial when you look into it closely. The 2018 Farm Bill went into effect January the following year. Since then, there has been a ton of activity in the industry. The industry has been gradually developing with time. The Department of Agriculture was tasked with coming up with rules and guidelines on how cultivation and growing of hemp should be done in the USA. Hemp was declassified as a schedule one drug. It is no longer a controlled substance, and this has opened up a lot of doors for hemp to be used for a multitude of things. Each state was tasked with coming up with its own set of rules and regulations on hemp.
Conclusion
It is not too late to enter the CBD business. The industry has a lot of room for everyone and is still developing.
