Scaling Canine Wellness: Wholesale CBD’s Impact on Dog Health
Wholesale is a great way to quickly start up your business and start making a profit right out of the gate. This is because you will be relying on others to create the products you intend to sell to retailers.
Sure, this takes some control out of your hands, but at the same time, it avoids all the headaches commonly seen during the manufacturing process and when selling directly to consumers. It also lets you fill your ‘store’ with a variety of products that have already shown their worth.
Today, I want to show you how you can get your foot into the door of wholesaling, and in particular, I’m going to focus on how you can create a name for yourself in the pet industry.
To say the pet market is lucrative and fast-growing is putting it lightly. In 2020, the pet industry crossed the $100 billion sales mark for the first time and is expected to reach $358.62 billion by 2027. So enough talk, let’s learn how to wholesale!
What Is Wholesaling?
Wholesaling is the act of buying goods in large quantities at bulk prices and then reselling them to others (most often retailers but some sell directly to consumers).
You will come across wholesale suppliers that sell their goods directly to the same people you’re targeting, as well as manufacturers that solely rely on selling their goods through wholesale. Wholesalers tend to work most closely with retailers, working with them to determine which products they need for their business.
Why Wholesale CBD?
CBD has become a staple in many dogs’ lives and it’s a great product to get your foot in the door of the pet industry.
With a long list of potential health benefits and its simple-to-give administration methods, many pet parents say they couldn’t imagine not giving their dogs and cats CBD — not just for specific health conditions, but to support their general health and wellness.
CBD products come in many different styles, from simple tinctures to CBD probiotic supplements to CBD dog treats.
Including CBD in our dogs’ food just makes sense. Giving CBD in the morning before work is perfect for easing nervousness related to separation anxiety.
A recent study found separation anxiety in dogs jumped well over 700% between 2020 and 2022 and that nearly half of all dogs experienced some form of anxiety — this increase is most likely due to the COVID-19 pandemic.
By giving it at night, CBD can help soothe pain and discomfort, allowing our dogs to get a better night’s sleep. Which, in turn, lets us sleep better. Similar to anxiety rates in dogs, various research indicates that half of our dogs are experiencing pain whether it’s temporary or chronic.
Another great reason to include CBD in our dogs’ food is that CBD’s fat-soluble nature pairs perfectly with their meals. Not only can this promote greater absorption of CBD, but CBD’s nutty flavor can elevate bland meals with a flavor many dogs adore.
When looking to wholesale CBD for dogs, it’s a good idea to buy a few different styles in bulk. Without a doubt, your basic CBD oil should be one of them.
It’s simple to administer, and customers can take that and create homemade CBD dog treats with it or simply infuse it into their food — whether they are making that food at home or not.
Enough time has passed that most people are aware of CBD, and we now have a plethora of research backing its results and safety. However, CBD is still new enough that many retailers haven’t stocked their shelves with the variety of items CBD can be included in. It’s a great way for retailers to bring in repeat customers while nabbing those interested in trying this therapeutic aid.
Steps To Getting Started
When you first start researching wholesale, especially in an industry such as the pet market that is filled to the brim with customers, brands, and various products, it’s easy to feel overwhelmed.
Thankfully, the process can be broken down into multiple steps, and I’m giving you 12 in total, to make it even easier.
You don’t, and I suggest you don’t, need to try to implore all of them at the same time, but make sure to go over all the steps before starting with #1 as some will play off each other, and you can work on them simultaneously.
Step 1: Market Research
There are a plethora of niches in the pet industry, and while I encourage you to grow your wholesale business by stocking your shelves with a range of pet products, in the beginning, I suggest sticking to just 1-2 niches.
Especially if you can combine them e.g., CBD and pet food can both target the same customers who are looking for the best ways to support their pets’ health.
While identifying your target audience, you make sure to research competitors to understand the demand, pricing, and trends. By better understanding your competitors, you can determine which size market you feel comfortable in.
There is a lot of opportunity in the pet market, but there are many big players that already cover a lot of ground, so make sure you’re wholesaling products that can get an edge on your
Step 2: Business Plan:
After researching your niche, including your competitors, it’s time to determine your pricing structure, sales channels, distribution methods, and your overall goals.
Step 3: Legal Considerations:
Is your business a sole proprietorship or do you want to take it further and form a LLC? This is one step you cannot skip, and I highly recommend sitting down with a lawyer or financial advisor to ensure you are properly registering your business and obtaining all the necessary licenses or permits.
Step 4: Supplier Selection:
When getting started, it’s best to stick with just one or two suppliers/retailers, so you can focus on building a strong relationship with them and better understand if the products are right for you. However, once you feel comfortable, there is little reason to stick to just one supplier or retailer. Be careful about partnering with rival suppliers and retailers!
Step 5 Create a Business Website:
It’s almost 2024; there is basically no way you can get around not having a website for your wholesale business.
Thankfully, thanks to companies like WordPress, Squarespace, and IONOS (voted best for startups by Forbes in 2023), who provide a variety of tools and templates, creating a website has never been easier. And AI is going to make it even easier going forward.
Make sure your website is showcasing your products while including an online catalog, shopping cart, and secure payment options.
Step 6: Branding and Marketing:
You should have this step in mind when you’re on step 1 because it’s so important you are choosing design choices that pop out while reassuring your target base that your products are the real deal. Make sure you utilize social media, online advertising, and content marketing.
Step 7: Establish Pricing and Terms:
When working with your supplier, make sure you’re establishing clear terms and conditions for wholesale transactions, including minimum order quantities and payment terms. Often, you are restricted from selling your products at a lower price than your supplier if your supplier sells directly to retailers.
Step 8: Create Sales Materials:
Sample kits and brochures are just two of many ways you can attract potential clients. Make sure your branding stays consistent across all sales materials.
Step 9: Build Relationships with Retailers:
You shouldn’t just be building a strong relationship with your suppliers, you should additionally be reaching out to pet retailers, groomers, and other businesses in the industry. You don’t have to solely stick to your niche here, as other businesses can be a great idea of which products or direction you should move to next. Trade shows are a great way to do this too!
Step 10: Logistics and Distribution:
Make sure you set up an efficient and cost-effective distribution system. Consider working with fulfillment centers or third-party logistics providers to make sure that happens.
Step 11: Customer Service:
Strong customer service is important in any industry, but it’s hard to find other markets where focusing on it is of the essence. Gone is the day of pet “owners”. They prefer the term pet parent now. In the past, getting a pet was a way to test out having kids, and while it still is, the pet will be more of a sibling to their kids now.
Pet parents are willing to spend a lot of money on their pets, but they are incredibly cautious, only seeking out products from unblemished companies. This is evident by the increasing number of pet owners who are creating their dogs’ and cats’ food for them at home due to all the issues commonly seen with commercial brands. When targeting pet retailers, especially smaller ones, be respectful and don’t critique their strong love for their fur children.
Step 12: Scale and Adapt:
To scale your business so you can make an even bigger profit than what you hopefully already are, make sure you are constantly monitoring sales and customer feedback to find areas that need improving. When looking for website builders make sure to research what they offer in regards to tracking when deciding who to go with.