Cannabidiol is said to increase the consumer's well-being and relieve pain. Given the daily pressure of everyone, it has become a substance increasingly sought after. The CBD sector is therefore a flourishing market. If you want to open a store in France, find out everything you need to know to be legal and to put all the chances on your side.
Be well prepared at the administrative level
To ensure the success of any project, it is crucial to do thorough market research. You will need to locate an area that is not yet saturated. Be aware that you will have to locate in an area where there would be an average of 10,000 inhabitants/shop to hope to reap gains quickly enough and be profitable. You should also investigate the products, extracted from hemp, proposed by your competitors (flowers, CBD oils, herbal teas...) and those which arrive at the top of the sales in their shops. This will help you to manage your stock later on.
By the way, we remind you at this point that in January 2022, the Council of State suspended the law that prohibited the marketing of CBD flowers and increased the THC level tolerated to 0.3%. This is of course very pleasing for the retailers, as flowers are the biggest part of their turnover.
You will also have to draw up your business plan in order not to be in the dark, but also to have a solid file that will convince the banks and future investors. Finally, for the administrative part, you should know that if you have no partners, you can choose the SASU status for your company. But if you have several partners, choose a SARL.
Open a CBD store with or without a franchise
The question of whether to open a store independently or to use a franchise often comes up among those who are starting to market CBD. It is important to know that each alternative has its advantages and disadvantages.
If you use a franchisor, it will cost you much more. But you will have many benefits in return. Indeed, it will generate less stress on your side since the parent company will take care of many aspects: supply, sometimes local, marketing and training. Following the latter can align you with the strategy and rules of the brand.
In addition, it also allows you to access financing more easily. Investors and banks appreciate dealing with this type of company, which generally guarantees future profitability.
The other disadvantage, apart from the initial investment, is the fact that your autonomy will be reduced in this configuration. You will also generally have a contract with a limited duration, which will put you in a somewhat unclear situation regarding the future of your store. Moreover, as with any partnership, the risk of conflict is always possible and terminations can be complicated. Finally, be aware that the resale process will be more difficult than if you are not a franchisee.
Prepare your CBD store to welcome your customers
The launch of your store should be taken very seriously. You will need to focus on a number of things.
- Store layout: it is very important that your store be very inviting, pleasant and that it corresponds to your vision and the concept you have developed. Layout professionals can help you to arrange it properly. And benchmarking specialists can advise you on where to place each product.
- Inform the inhabitants of the opening date: you can use flyers or posters. But you can also contact the shopkeepers, who are close to your shop, to suggest them to pass the information to their customers.
- Collaboration with influencers: don't forget that your biggest publicity on the web will be provided by instagrammers and youtubers. This marketing move will only be successful if you select people who have the same target as you.
- Inviting the press and public figures of the region: influential personalities and the press will allow you, thanks to their power in the region, to widen your customer portfolio.
Conclusion
Having developed the main points that would be of interest to someone who is going to start a CBD store, we have just one last point to address. This is the choice of supplier. In this regard, you can trust us at The CBD Wholesaler. We sell a wide range of excellent natural products at wholesale prices that defy all competition.