Should You Start Dropshipping Hemp Oil?
Hemp Oil dropshipping is a rapidly growing industry—the North American hemp-derived oil market size is expected to reach $16.1 billion by 2027.
As the market continues to grow, more people are becoming curious, which creates excellent conversion opportunities. You can also count on return buyers and the opportunity for loyal customers, as most Hemp Oil consumers use it daily.
A low-weight product, Hemp Oil is also cheaper to ship, creating the opportunity for a larger profit.
If you’re looking to enter the industry, here’s how to legally start dropshipping Hemp Oil products.
1. Register Your Business
Regardless of what you intend to dropship, starting an online business requires the same steps. You must file the necessary legal paperwork and other documents, just as you would for a brick-and-mortar store. This includes:
- Registering your business following your state’s requirements
- Obtaining required permits and licenses, including a resale certificate
- Applying for state and federal tax ID numbers
These requirements will vary by state, and it’s your responsibility to do your research and satisfy any legal obligations before moving on to the next step.
2. Choose a Reliable Hemp Oil Dropshipping Program
Next, set up a reseller account with a high-quality, trustworthy Hemp Oil supplier. Due to the rapidly growing demand for Hemp Oil, there seem to be unlimited supplier options, and some are more reliable than others.
The supplier you choose will affect your products’ quality and legality, as well as how much trust customers will place in your business.
We currently have over 35 suppliers vetted suppliers based in the USA integrated and ready to dropship your orders!
2. Partner With a Hemp Oil-Approved Payment Processor
When a customer places an order, the last thing you want to worry about is whether your payment processor will authorize the payment.
Hemp Oil can be classified as a “high-risk” product, which means there are restrictions around how you can accept payments for Hemp Oil online.
For example, Stripe and PayPal are popular payment gateways that do not process payments for Hemp Oil sellers. Square, however, has changed its rules and now offers a Hemp Oil payment solution.
4. Build Your Online Store
There are also restrictions on where you can sell premium Hemp Oil products online—popular marketplaces such as Amazon, eBay, and Etsy currently prohibit Hemp Oil sales. Building your own store is your best option for success.
Ensure the platform you choose offers specialized solutions for Hemp Oil resellers, such as Hemp Oil-approved payment gateways and industry-specific shipping options.
If you choose a supplier that is not already integrated into Inventory Source, you can sync inventory availability, order management, and more with the Flxpoint dropship automation platform.
Looking for more information? Check out our complete guide to selling Hemp Oil online.