6. Make and sell CBD bottles and containers.
Packaging is important. After all, the U.S. Food and Drug Administration recently warned companies for making unsubstantiated statements about CBD. Since as many as 5 million bottles can be produced within 24 hours at a well-equipped production facility, this CBD business opportunity is a smart way of boosting profit and reducing overhead. Typically, product suppliers purchase products for $1-$2 per bottle. However, you could charge more, depending on the product information featured on the bottle or its design.
Cost: The low cost of making CBD bottles and containers enables a solid return on investment. Online sources show that the average cost or making a 500ml bottle is 2 cents, whereas a one-liter bottle is around 2.5 cents. Glass may cost slightly more but will also sell for slightly more.
7. Start a CBD subscription box service.
Many CBD sellers opt for subscription services as a way of pulling in recurring revenue. Since you’re in charge of pricing the CBD subscription boxes, you can forecast your monthly revenue based on who subscribes. With a predictable monthly income, managing cash flow and retaining customers will be a breeze. Moreover, as you look at returning customers, you can learn how to assess customer retention; the larger your subscriber base, the more attractive you will be to investors.
Cost: The contents of your CBD subscription box will determine how much it costs to produce. However, since most of these types of products sell for $10-$40 per month, the contents should be affordable enough to turn over a profit.
8. Start a CBD courier business.
Looking for a great way to enjoy freedom and get out onto the open road while making money? If you answered “yes” to this question, you’re guaranteed to enjoy the flexible hours, social aspect, and opportunity to see new things when you get involved in the CBD courier business. Keep in mind that the taxes you pay depend on whether your CBD courier business is a a sole proprietorship, partnership or limited liability company.
Cost: The highest investment for this type of business will be if you launch a self-employed courier service; factor in the cost of a van for this. Alternatively, you could get paid a monthly wage if you become one of the drivers working for an already established company. A GPS unit should also be factored into the equation. Moreover, if you become a motorcycle messenger, you need to factor in the cost of a motorcycle license.
Food & Beverage CBD Business Opportunities
Eating and drinking are two of life’s greatest pleasures. Mother Nature took note of this when she unleashed CBD upon the world. A cannabinoid crammed with potential, CBD serves a platter of business opportunities for folks in the food and beverage sector, from morsels of CBD-enriched gummies to spreads of CBD cakes, sauces and condiments. High Beauty and Lab to Beauty are two prime examples of CBD companies that have made a name for themselves in this segment of the industry.
It’s important to know that licenses and lab results for products containing CBD are required to demonstrate compliance with all applicable laws. Follow the current FDA stance on products containing CBD. Understand the laws and pay attention to changes that may impact your business.
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