10 Steps to Starting a CBD Business | CBD Entrepreneur
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- เผยแพร่เมื่อ 7 ก.ค. 2024
- CBD Expert and founder of Joy Organics shares the 10 steps to starting your own CBD business. joyorganics.com/partnerships
Summary
CBD Expert and founder of Joy Organics, Todd Smith explains the 10 steps to starting your own CBD business.
1. Determine a Name for the Business
You should not use a name for your business that includes the words CBD or hemp or cannabis as it can create red flags for your bank and other potential problems. Additionally, there are opportunities in the future for expansion into other beneficial plant products. You should pick a name that is easy to remember and spell.
2. Set up Your Business Entity
Todd recommends you set up your business entity on LegalZoom.com. Here you can set up your company as an LLC in less than 15 minutes for a good price. It is a good idea to use your business name for your LLC.
3. Design Your Logo
Todd recommends using the website "99 designs" where you can choose from 1000s of designers. You can send design requests out to the community and they will send in ideas based on your color scheme and name.
4. Open a Bank Account
Go to your bank, tell them you are in the health and nutrition business to get your bank account set up.
5. Apply for Your Merchant Account
You will need both an employee identification number and a bank account to set up your merchant account. Make sure you check that the bank does CBD processing.
6. Select a Good Partner from Whom to Purchase Your CBD Products
Joy Organics provides high-quality products, resulting in a high re-order rate. Make sure you do not reach a 1% chargeback rate.
7. Build a Website - consider using a nicely designed template
Type in website templates into Google. Just plug in your pictures and information.
8. Secure Social Media Handles
Set up social media accounts preferably with the same company name.
9. Find a Fulfillment Company
Find a company to ship your products if you don't want to ship out from your home.
10. Develop Your Marketing Strategy
Challenge yourself and be creative!
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Since the recording of this video, Todd has recorded a new video series on starting your own business that covers a lot more detail than what's found on this video.
Get started watching this 10 step video series, but starting with video #1 • 10 Steps to Start a CB...
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#cbdbusiness #cbcoil
Joy Organics’ Private Label CBD Partnership Program allows you to profit from the rapidly growing CBD Oil industry while building a loyal customer base under your own private label.
About Joy Organics
Joy Organics was created with a clear initiative: to develop Premium THC-Free Broad Spectrum CBD Products through innovation and excellence, with service to match. Joy Organics is the world’s premier line of family-friendly CBD products. We aim to take charge of the CBD industry with radical transparency and the highest quality hemp oil products. We want to not only provide the highest quality CBD products on the market and also to give you all the information we have so you are educated and knowledgeable.
#cbdbusiness #cbd entrepreneur #cbdoil
Thanks for getting straight into the points !
This is a great channel! Thank you!
Great content Todd. Much appreciation 👏
This Video is Beautiful. Thank you Todd.
excellent work Mr. Smith
This was so helpful, step by step instructions. Thank you.
So glad to help, Atul!
Amazing wisdom, thank you SO much. I'm starting in the CBD world to help my kid not have 10 seizures a day; my drive is to help other kids and families in similar situations. I'm doing my homework WAY before starting out in growing, but your posts are extremely helpful to me and my family. Thank you. If I can share what helps my son, with other people in a similar situation, that means the world to me.
Hi Dave, that is a fantastic goal!
I really do wish you all the best.
How's it going
If you are looking for someone to do your merchant processing, send me an email at Todd@JoyOrganics.com
hi i want to be part of CBD business, i leave in West Africa i don't know where to start
Great video and information
This was amazing
Love the content!!
Great video!
Great great video thank you
Thank you so much for this gem of information!!!
Thank you Stephanie for your comment! We are happy to hear you enjoyed the information shared. Have a wonderful day!
Thank you so much for this video!!
Happy to help, Sofie!
Thanks for sharing. Some of these tips would’ve been useful for the extraction lab we started in Asheville.
Congratulations on starting your lab!
Thank you for sharing this information!! You really should be a motivational speaker.
Thank you so much!
This is my drive at 24 years old! THANK YOU FOR THIS VIDEO SIR! Very helpful knowledge for free :) thanks man!
Wow I’ll be 24 in October and I bought 6 acres of land to get started. Good luck 👍🏾
Thanks 👍👍👍👍👍
Thanks for sharing this information!
I love this Video, Thanks Todd!
Thank you for watching!
Thank you so much for this valuable info
Thanks for watching, Sam!
Very informative!
Interested Thanks
Informative video!. Thank-You!
Thank you for watching!
Starting a CBD cosmetic business 2021!!! Trying to get my hemp license. Thank you for the info!
Congratulations on jumping into the industry...it is a wonderful and rewarding place to be :) If we can be of any help getting you started, please feel free to reach out to our team at privatelabel@joyorganics.com. Have a joyous day!
@@JoyOrganicsPartnerships thank you on your response and I will
Thank you for sharing this information.
Thank you for watching, Teresa!
Hi Todd, thanks for the great videos and the great information you guys are putting out!
Your guide to CBD's on your website is just fantastic. It shows that you guys really love what you do.
I am looking to get into the business but there seem to be so many trees that I can't see the forest....
I would like to focus on the online side of the business however it seems to be tricky to build a loyal repeat customer base online unless you shift to B2B.
If you don't mind, what's your take on the online side of the business?
Thank you so much man
Just contacted your team about PL. looking forward to working with Joy!
How has it been?
This is seriously good, respect, one not see this type of honestly to often, congrats you have got your self a fan#1. God bless you, family and biz :)
Thank you Arex!
@@JoyOrganicsPartnerships I'm interested in the Affiliate partnership program. How do I go about it?
@@petermbonu8662 hello Peter and happy Friday! Please feel free to reach out to affiliates@joyorganics.com and one of our team members can help you from there! Thank you so much, have a great weekend :)
Great Value very impressed with JOY ORGANICS so far.
Thank you, Herman!
Do you have your own CBD business?
@@ebony4572 not currently.
Great video! Pozdrav from Serbia!
Pozdro z Polski
This video is amazing 👌
Thank you!
Thank you ! I just started partnering with you and excited to receive my first order.
hi how much did u order ifi may ask and how much mg/ml and where did u create brand i know this is alot of questions but i am new to this thanks :)
How did it go for you? I’m highly interested
What is your site?
Sincerely thanks for your excellent video, I wanted to settle this business really.
Thank you for your comment! If there is anything we can do to help the journey, please let us know :) You can connect with one of our amazing team members at privatelabel@joyorganics.com. Have a wonderful day!
Fantastic video! Very helpful
Hi Jennifer, thank you for your feedback!
Please let us know if you have any questions, we are happy to help. :) Email us at wholesale@joyorganics.com
I didn’t see the merchant that you recommend In the description . Can you please provide ? Thank you
Hi Tamisha, please reach out to merchantservices@joyorganics.com for some recommended processors. :-)
Thank you for sharing :)
You're so welcome! Please feel free to reach out if you have any questions :)
Thanks Todd, this was really informative and helpful
Thank you! We are so glad you found value in this video. :)
Joy Organics Partnerships, my partners and I are currently evaluating the opportunities in our country (Zimbabwe) to farm full spectrum hemp in order to produce cbd oil. We are also searching for investors. Once we are up and running, I look forward to talking to you guys about partnering on the supply chain.
Zimbabwe legalised cannabis farming for medicinal and scientific research in 2018. It offers a lot of opportunities including plentiful labour, cheap labour and significantly lower costs of production than northern hemisphere growers - we have no snow and plenty sunshine & fertile land to use.
With that said, I am grateful for the tip to not include hemp, cbd or cannabis into our company name. You saved us from a huge headache.
I would love to send you something if you don’t mind. If you can e-mail me that would be fantastic simba.getfitafrica@gmail.com. I would be glad to hear from you.
@@ShunguRocks How exciting! We have a Partnership Advisor who specializes in International businesses. Feel free to reach out to Sara Durnil at sara.durnil@joyorganics.com
Joy Organics Partnerships thank you. I will.
Good information but left out one of the most important topics: Insurance. Really need to address this.
Hi Jeff, you're right!
I'll add it to the list of topics to address in an upcoming video.
Thank you. :-)
Great video 👍🏿
Thank you!
Great video! Straight forward and too the point! I’m curious on starting small in the CBD business as a small sideline as I work full time, so I’m curious do I regardless need to have a LLC, business bank account, any other sort of licenses?
Hey there! We apologize for the late reply and recommend reaching out to todd@joyorganics.com for any merchant processing-related questions. Thanks!
yes and no depending if you are creating your own products
Thanks for this video! Where is this merchant processors that you recommend?
Hi Ashlee! Thank you for taking the time to reach out :) If you are a current partner, please feel free to reach out to your account manager for merchant processing referrals. If not, you can email wholesale@joyorganics.com and one of our amazing team members can get you some information. Have a great day!
I have the finer details down but what I can't get an exact answer on is the best payment processor to use with a Shopify account? I can't find one that will easily integrate with Shopify and isn't crazy expensive or only available for established companies.
Hello Byrd! Thank you for your question. Please feel free to connect with us directly at privatelabel@joyorganics.com. One of our team members can assist you with any questions you may have on merchant processing. Thank you again, have a wonderful day!
Does your CBD store accept Credit Card? I am looking into your model
I can't seem to find the name of your merchant processor you spoke of in the video
Hey there! For merchant processing-related questions, feel free to email Todd directly at todd@joyorganics.com. Thanks!
Which merchant account do you guys use if you don't mind me asking? I am not seeing it here. Also great info and thanks for sharing this.
Hey there! Thanks for your comment. For merchant processing-related questions, feel free to email Todd directly at todd@joyorganics.com. Thanks!
I like what Todd and the people at Joy Organics are doing here. Great educational videos that are short and sweet. Focusing every video on what to do and what not to do, usually involving the ideas of doing the right thing ethically, treating the customer with respect, investing in high quality organic products, etc. However, I'm in shock that he would then turn around and mention half asking your logo design and branding by using 99 Designs. I agree with most of what Todd is saying but I 100% Disagree with his suggestions of using 99 designs. I think if you use 99 Designs your going to get a very generic logo that will not last I promise you that. While it's tempting due to the low cost Todd says it here in the video "You get what you pay for!". As a seasoned design I can tell you that if you hire a great designer which great experience, you'll find that you'll be addressing the important aspects of a logo design, and how that translates into your overall branding (Branding is not a logo design). With the right designer you'll be able to go back and forth through different discovery sessions that will the yield not just a good design, but one that is appropriate, simple, and distinctive. No great designer will ever work for pennies and/or compete with other designers to rush thought a design. If you want a great branded experience with exceptional designs reach out to me and I'll be able to help you on a higher level. Of course some people don't care much about their design but those business never last. Just look any great brand out there....do you think they used cheap sites that promote the reduction and respect for real problem solving designers? I think not. Other than that, I do like this channel. Cheers
💯🔥🔥🔥👍🏾
nice content, thanks
Thank you for your comment! Wishing you a wonderful weekend :)
🙌🏿
I wonder what means that icon... ;-)
Hey, does it matter what bank I use? I'm starting from scratch. Can I just apply for any online banking account and categorize my business under health and beauty? If my merchant account is taken care of, does it matter what bank I do business with?
We recommend opening an account with a bank that welcomes CBD businesses. :-)
Nice information
Hi Nathaniel, thank you for your feedback!
Please let us know if you have any questions, we are happy to help. :) Email us at wholesale@joyorganics.com
When he says NE is he referring to “network entity”?
What are some good merchant account processors in the industry
Hi Reazan, for merchant processing-related questions, feel free to email Todd directly at todd@joyorganics.com. Thanks!
Hello. I'm interested in starting an online CBD Business. Do I go to the IRS for an EIN #? Also, do I obtain a Merchant account from my bank? If so, you mention make sure they do CBD processing.
Hello Maggie, thank you for your reply and questions! If you are a current partner of ours, please feel free to reach out to your dedicated account manager. Otherwise, you can reach out to one of our awesome specialists at privatelabel@joyorganics.com to learn more about our partnership programs and how to get started in the space! Thank you again, have a great day!
Please correct me if I'm wrong:
The easiest way to start your own CBD- business is by joining a network marketing system which is backed up by a leading CBD producer.
However, that's why I did it, so I didn't need to go through most of the steps you are describing.
I imgine th profit margine with be greater on your own. But NMS woud be a great place to start.
could you please put the name of person you recommend for merchant processor?
Hi Danny!
Your specialist will be able to share the names of which ones will be the best fit for you and your business. :-)
If you would like a more immediate answer, please feel free to reach out to merchantservices@joyorganics.com.
Has any of this changed since the passing of the new 2018 Farm Bill? I believe federal banks should not have a problem with cbd now..?
From what I've seen, very little has changed regarding CBD and the banking system. I expect that when CBD is downgraded from a schedule one substance, we'll see a significant shift. But unfortunately, that hasn't happened yet.
@@JoyOrganicsPartnerships it now has
Can you please let me know the best variety of Cannabis for CBD ?
Hello Rajeshwar, thank you so much for your question! When looking for the best variety of hemp plants, you want to be sure you are working with a phytocannabinoid-rich variety of plant as opposed to industrial hemp, which has lower levels and quality of CBD. You can learn more about this topic by visiting our Ultimate Guide to CBD oil: joyorganics.com/ultimate-guide-to-cbd-oil/
Thank you again for your question, wishing you a wonderful day!
Hey Todd. Great video. I am looking at setting up my own company in the UK. Primarily I want to grow, process and manufacture a product. If you have time I would love to chat with you
Hello, thank you for taking the time to leave a comment on our video :) Glad to know you found value in the content! Todd is not in a position to offer consulting at this time. We wish you the very best on your ventures in the UK and beyond! If you ever find yourself doing business stateside, please let us know! We would love to be a domestic option for you for any CBD-related needs you might have. Thank you again, have a wonderful day!
Just going to say... first step is make a business plan... also going to say... nice marketing video. lol
That is a great first step! And marketing yourself and your business is a key skill in any industry. Thank you! :-)
I'm very intrested in becoming a partner I'm in the states nc. How do I get more info?
What is going on with getting merchant accounts approved?
Hey April, for merchant processing-related questions, feel free to email Todd directly at todd@joyorganics.com. Thanks!
would "cannabliss" be good?
Hi Fadi! Would you please clarify what you're asking? Thank you!
I own a barbershop .. I was wondering if I can sell cbd in my barbershop and what do I need to sell cbd in my barbershop?
Hello and thank you for your reply! Yes! You can definitely sell CBD in your barbershop. Marketing to an existing client base is a great idea :) Please reach out to one of our amazing private label specialists to learn more privatelabel@joyorganics.com. Thank you again, have a great weekend!
How do I order from you. I am starting a small business selling cbd
No response eh? Hmm
fivrr does your logos for as little as $5.00 we used them and they were fine.
Where you able to create any size with the logo without messing up the image?
you didn't use fiverr. You used a contractor listed on fiverr.
Is it true that Facebook and Instagram prohibit paid advertising for CBD?
Hi Mike, CBD ads have been allowed on Facebook recently.
But I encourage you to read their terms of service, and consult your legal counsel!
Hey Todd,
Do you have partners in Canada?
Not at the moment. Sorry, Shikyatae!
Ein? Where do I get that..
IRS website
How can I start a partnership with your company
Hey there! You can find all partnership information here: joyorganics.com/partnerships/
Damn, you're cool
Thanks, Justin! We definitely think Todd is the coolest too :) Have a great weekend!
Is permit or licensure required to start CBD?
Hi Bre,
None that we are aware of in Colorado!
But it's always advisable to consult someone familiar with your local laws. :-)
@@JoyOrganicsPartnerships Hemp Handler License would be required but is not being regulated.
Todd, we are partnering with Joy Organics. Should we get product liability insurance? If so, can you recommend an insurance comopany?
Yes, you should! Check out Sugarleaf Insurance for the CBD packages.
Hi Brad, I would recommend discussing with your Joy Organics account manager. They should be able to provide answers to any of your questions. Thanks!
Not in Florida. Licensed medical marijuana treatment centers (“MMTCs”) are authorized to cultivate, process and dispense medical marijuana. These are the only businesses in Florida authorized to cultivate, process, and dispense medical marijuana to qualified patients and caregivers. Florida law requires MMTCs to be vertically integrated and maintain all aspects of cultivating, processing, and dispensing marijuana for medical use.
Hi Bill!
CBD is grown from a hemp plant, which is different from marijuana. CBD is not approved by the FDA to treat any kind of medical condition. Hemp products must also contain less than 0.3% THC.
Hemp extracts are for use by adults who have consulted their doctors and are looking to supplement their lives with a naturally derived product. :-)
Joy Organics Partnerships yes, the Hemp regulations are not finalized yet in FL. Hopefully they will be finalized early next year and be accessible to all farmers. The statement from my first post was the Florida Department of Health’s response to me asking them about obtaining a cannabis cultivation license.
Bill Lumburg yes it is, it’s legal in all 50 states to sell cbd as along as it comes from a good hemp source, and less than 0.3% thc. It’s not medical marijuana. If you’re talking about growing or making your own stuff then no it’s not legal
Cheese Cake Salad Head my earlier comments were about the cultivation of cannabis (hemp/marijuana) in the state of Florida as a business; relating to the topic of this video. As far as hemp cultivation as a farmer for business, it is not currently legal in Florida. Here is a link to the Florida Department of agriculture page regarding the Florida hemp/CBD program (www.fdacs.gov/Cannabis/Hemp-CBD-in-Florida).
Also here is a bonus link to information about CBD from marijuana vs hemp: www.google.com/amp/s/www.medicalmarijuanainc.com/cbd-hemp-oil-vs-cbd-marijuana/amp/
I chose www.IslandStrong.com. Paid $25000 for the domain. Big investment for a domain name, but it works for us because we are based on the US islands. We do a lot of health supplements, organic snacks, drinks etc. The weird thing here on Guam is cannabis is legal. residents can actually grow up to 6 plants. But the main bank will not process cbd transactions. it's ridiculous.
Glad you found a solution that worked for you, Z!
Ha Ha,,,...omg a marketing campaign for Go Daddy
(-:
How to be come a joy organic partnership?
Im at washington state soon.
Hi MinRick! Please reach out to either wholesale@joyorganics.com or privatelabel@joyorganics.com and one of our specialists will help you get started!
what about finding a supplier?
Hello!
What kind of supplier?
Fiverr can get you a logo just as good way cheaper
Thank you for that additional resource! Have a wonderful day!
Good advice and lots of ads... GoDaddy is the worse btw. Stay clear.
I am a hemp farmer can you still be of service?
Hi Carmen, it would depend on what you would want us to partner with you on. Please reach out to privatelabel@joyorganics.com to find out!
Way too expensive. It's retail price
It's good marketing content but not informative at all. Most of the steps are true for any kind of business. The interesting parts of CBD business (distribution, logistics, packaging, etc...) is forgotten. this video is the opposite of relevant information
Good morning Koopah, thank you for taking the time to share your feedback. Creating content that is accessible to all levels of entrepreneurs can be an interesting dance. Sounds as though you have background and experience in the foundational aspects of running a business, which is great! Not all of our partners have had that opportunity. We will definitely keep your comments in mind as we look to the future needs of our audience and in determining what types of videos to create. Thank you again, wishing you a wonderful and prosperous day!
cheap quality and over priced
I'm sorry you feel that way Mike. We strive to be anything but.