To make it as a small business owner, you need a lot of things going for you. You’ll need guts and determination, good money habits, a tolerance for risk, and a whole lot of work ethic. You’ll also, of course, need something to sell. Every business plan needs to envision the target audience for the services of products being offered, and to demonstrate that the market is large enough to sustain the planned business.
That can be tricky. Just because a would-be business owner loves bacon or model trains doesn’t mean that there’s a market nearby for a small-town deli that sells nothing but bacon or a hobby shop that deals exclusively with model trains. Passion is fine, but the financial reality of building a business is key.
So what do consumers really need? Well, that may depend on where you’re setting up shop and what the competition looks like. But you could start planning by looking at the sorts of businesses, products, and services that are flourishing now — and there’s no doubt that health and lifestyle businesses in general, and CBD products in particular, are extremely popular right now.
What is CBD?
CBD is popular, but before we can understand why, we need to know something a little more basic: What is CBD, anyway?
CBD is a cannabinoid, which means that it’s a chemical found in marijuana. As one of the ingredients in the natural drug marijuana, CBD is responsible for some of the things that marijuana can do to our bodies. But CBD is not responsible for marijuana’s famous high; for the most part, that’s THC.
So what does CBD do? Well, a whole lot, as it turns out. Studies suggest that CBD can ease anxiety and stress, and that’s what CBD is primarily known for today. But it has a host of other medical benefits that have been revealed or suggested by various studies, including things such as easing pain and reducing nausea.
CBD’s health benefits are still being discovered, but the hype is already here. You’d be hard-pressed to find a trendier and more popular supplement on the market. And because CBD is so easy to take in various ways and to infuse into different products, it’s easy for customers to get their hands on the types of CBD offerings that they want.
Those include CBD tinctures, which allow CBD to be taken orally with an eyedropper. There are also CBD vape oils and CBD edibles. Then there are skin creams infused with CBD, which can be applied to the skin. On top of that, consumers can find CBD mixed into cocktails in bars, CBD-infused coffee drinks in coffee shops, and CBD-infused foods at pastry shops and in restaurants.
Getting on board
CBD is all the rage, and it’s just one of the reasons that would-be business owners should consider the health and lifestyle space. Trends may come and go, but truly healthy products will always have a market. And customers will always be out there looking for ways to get and stay healthier.
You don’t have to start growing hemp in your backyard or mixing vitamins in your basement to start a health and wellness business, of course (in fact, please don’t do this). All you have to do is get in touch with the right suppliers of CBD supplements and other health and wellness essentials. With trusted brands and white-label products to brand yourself, you can start a brick-and-mortar or e-commerce business with a focus on health and wellness. If that sounds like a great idea to you, then start working on that business plan.