On Jun 11, 2020
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Cannabidiol, or CBD, has quickly become the most talked-amount natural substance among those most interested in wellness....
In the latest episode of the Cannacurio Podcast from Cannabiz Media, my co-host, Amanda Guerrero, and I discuss license numbers and cannabis license verification as well as retail and dispensary license data in 2020. We also speak with Nick Tennant, Founder and Chief Technology Officer of Precision Extraction Solutions, a global leader in cannabis extraction […]
Despite the projections for growth and the confirmed increase in consumer interest, selling CBD products isn’t as easy as most brands want it to be. Creating a website, setting up an e-commerce channel, launching a few products, and investing in a little branding isn’t enough to secure regular and profitable CBD product sales. But, why?
One of the things that makes it difficult for any cannabis or CBD business to function is the lack of banking support. A solid merchant account is something that all businesses need, whatever the industry, but in the cannabis space finding one is a real challenge. Even though the 2018 Farm Bill made it legal to cultivate hemp on a federal level, and even though most states have legalized the cultivation and sales of cannabis and cannabis products to varying degrees, cannabis and CBD businesses are still having a hard time with banks and credit card companies. It makes the running of a legal, professional business difficult, if not impossible, which is why merchant account service providers, like InclusivePay, have come to the rescue.
As the sun rises on a new day, another CBD brand appears. It's selling the same white label CBD products as all the others, made from oils that are rich in CBD and low in THC. The only difference is that the product has been packaged in a slightly different container, and there's a new name and logo printed on top. The CBD market has quickly become the area of the cannabis industry that's suffering most from a lack of differentiation. So, what’s a CBD brand to do? Well, one recommendation would be to partner up with a CBD formulator.
