Naturally, when it comes to retail, the most important factor is stocking the shelves. There are always two ways to go about selling a product: the first is to manufacture the product while the second is to purchase white label products and develop your own branding. Neither option is better than the other. Fundamentally, it all boils down to an entrepreneur’s skills and where they want to invest their time, energy and money. For example, if the product is proprietary and involves unique or untapped formulation, then manufacture is the only way to stock the shelves. If the entrepreneur is a great digital marketer, then perhaps more time can be spent on marketing while another company provides white label products at a wholesale price. Both methods of stocking the shelves of a business have their pros and cons, and the final decision will ultimately depend on what kind of a person an entrepreneur wants to be. The Pros & Cons of White Label Products For anybody starting a new retail business, white label products offer an easy, streamlined way of stocking the shelves. Manufacture can be costly, especially depending on the kind of product that is being sold. Manufacture is especially involved if you are not an expert in the manufacture of that particular product. Let’s have a look at the natural health industry as an example. Stocking the shelves of a natural health business with white label products removes the need to go out there and learn how to extract botanicals, how to preserve them and what ingredients to put inside. All of this can be left to the experts while you focus on branding and sales. Now, of course, this also poses its own dilemmas. For example, if you’re not an expert in the manufacture of natural remedies, it can be very difficult to source a reputable product that meets your expectations as a retailer. The obvious compromise to be made is between quality and cost. While you want to sell a quality product, there will be economic limitations — also depending on what kind of an audience…
Everybody wants a slice of the cannabis pie. If they didn’t, the industry wouldn’t be pushing the limits as the fastest growing industry ever.
For the first time in 100 years, hemp and its derived products are legal across the USA. This may be your perfect timing to learn how to open your own wholesale business.
As a result of the booming cannabis market, retailers could face issues with their supply chains. Product manufacturing can already be fickle since it relies on plant material, which is subject to sometimes unpredictable factors such as climate.
A quick look at the supply chain of cannabinoids, from growing to quality control. Learn about the way we do business and how we care about our products.
While cannabidiol (CBD) is widely accepted as a life-enhancing compound with no psychoactive properties, it has a close relative that should get just as much attention, its name is Cannabidiolic Acid.
CBD will likely soon be federally legal in direct contradiction of the Controlled Substances Act of 1970.