The CBD industry is booming, thanks to an increased interest in the United States when it comes to holistic and natural supplements. At the same time, more and more states are legalizing cannabis and marijuana, which is also offering CBD companies the chance to expand without catching as much side-eye from judgmental consumers. All of this makes for a business environment where more and more CBD entrepreneurs are considering expanding their footprint from simply an e-commerce presence into something more.
Even so, the transition from an online business to a brick-and-mortar store is full of its own challenges. The good news is that if you’ve already established a strong online presence, you likely have what it takes from a business perspective to pivot and expand into in-person retail. Keep reading for a few ideas, tips, and tricks to keep in mind as you work on your expansion.
Be humble enough to start small.
When you’re looking for retail space and are just starting out, it’s a good idea to start small. Obviously, you need enough space to store your CBD products and set up a checkout counter, but keeping your business lease to a low monthly amount as you’re just getting the ball rolling is a good idea if you want to expand smartly. Biting off more than you can chew at the get-go can make you strapped for cash and hurt your ability to scale your business in other ways. Especially if you have an e-commerce setup to maintain for existing CBD sales, it’s critical that you don’t jump into the deep end right away.
Protect your property and inventory.
CBD products are growing in popularity, which means that more people are looking for CBD oils, gummies, tinctures, and edibles that contain hemp oil or cannabinoids. As such, one topic you need to consider when it comes to protecting your brick-and-mortar business is what kind of surveillance system to get. It’s important to recognize that a good video surveillance system doesn’t just deter would-be criminals, but it can also go a long way in deterring vandalism and even theft from existing employees. Enterprise video surveillance systems come with a variety of features that go beyond traditional CCTV video security systems, including alerts based on motion detection, remote access viewing, cloud storage, and even facial recognition.
Build up excitement in the media.
While the FDA hasn’t yet endorsed CBD and cannabidiol for conditions like arthritis and chronic pain, many people have anecdotal evidence of the benefits CBD has given them. As a result, when you’re trying to build up excitement in the media about your new brick-and-mortar launch, turning to CBD enthusiasts online will likely offer the best experience. One website to check out for CBD news and reviews is CBD Nerds. This website offers reviews, health guides, and more, giving you a great source to share information about your CBD wares with others. Especially if you’re planning on stocking one of their best CBD oils of 2021, using their endorsement can build excitement and anticipation around your store launch.
As you can see, making the transition from online to in-person retail isn’t as hard as you first might have thought. In fact, with a physical presence as well as online retail, you have the opportunity to provide a hybrid experience some economists and entrepreneurs are referring to as “click-and-mortar.” With a click-and-mortar retail presence, you have the opportunity to provide an in-depth customer experience for CBD newbies, while providing the convenience and ease offered by online sales for repeat customers. Keep the above tips in mind, and you’re sure to find success!