Posted: by Bronte
Understanding the Intricacies of Starting your CBD Wax Business
As the hemp movement gains momentum, the options to consume it have grown to accommodate every type of user. Wax and the process of dabbing is one such mode of consumption that has gained a huge amount of traction in the last couple years. Along with that, many entrepreneurs have started their own CBD wax business to take advantage of this trend.
How it’s Made
The carbon dioxide method is used to extract the CBD for the production of wax. This process uses pressurized carbon dioxide to draw out the phytochemicals from a plant. It ends up being the most expensive method, but also the safest and most effective process. A substance that is low in THC and high in CBD material is produced because of the use of hemp versus marijuana.
Most commonly, the supercritical fluid extraction (SFE) method is used to separate components by the use of a solvent. This process makes the product fluctuate between solid, liquid, and gas when exposed to extreme heat. This fluctuation is the reason that this product is labeled “supercritical.”
Supercritical fluid extraction appeared first in the 1960’s where Germany used it as a viable option to other, more rudimentary, processes. They found it most useful for substances that are adversely affected by the high temperatures necessary in this procedure. By the mid-1980’s it became an well-practiced analytical technique. Many products began being produced using this method such as hops, decaf coffee and tea, many herbs and spices, along with many types of oil.
By the early 2000’s the cannabinoid extraction method was being tested using several different solvents to produce the desired byproduct. What makes this method so useful in the production of marijuana and hemp products is the ability to customize the outcome of the substance with just a small adjustment in the temperature or solvent. Adjustments in the extraction determine the consistency and range of use for the end product. With only slight changes in heat and time, vaporizer oils, wax, and shatter can all be made using the same hemp plant.
How to Dab
Wax must be consumed through the process of dabbing due to its sticky consistency. You just heat a small amount of wax that is coated it on the coil of a specified dab rig or vaporizing pen and inhale through the built-in mouthpiece.
Depending on how comfortable you feel using a blowtorch, an electric dab rig or vaporizing pen with pre-filled cartridges would be better options.
This method of consumption is super concentrated because of the extraction process, sometimes approaching 70-90% THC and for the CBD alternative, can be over 100% purity. With that in mind, be conscious of how much you consume
Who it’s Great for
While it is more expensive than other options, from the concentrate to the different parts of the rig, it doesn’t take much wax to deliver a potent impact. A single dab can pack the same punch as over four joints. Also, depending on how you choose to consume, it can be very easy to conceal. Vaporizing pens are small enough to fit in your pocket nowadays. In addition to that, vaporizing wax is nearly odorless, appealing to business professionals and people using CBD wax for medicinal purposes. Consumption can be done discreetly and without the stigma of cannabis use.
- Less Detrimental (than smoking)
- Overdose Possibility
- Heightened Tolerance
- Not much Scientific Data
With all of this in mind, you can decide if using wax is a good option for your needs. If you determine that you want to try it out, splurging on the rig and accessories may be worth it. Like with everything, use in moderation.
Starting a CBD Wax Business
With wider acceptance of hemp products in the marketplace, there has been a huge influx of entrepreneurs starting their own CBD wax businesses. These types of accounts are treated differently because they are considered high-risk by most acquiring banks. What to ask when securing a payment processor for your cannabidiol wax merchant account:
- Are they adept at working with the high-risk industry?
The CBD payment processor must have the right framework to work with high-risk businesses, things to look for are flexible underwriting, chargeback protections, along with seamless integrations with multiple platforms and gateways.
2. More specifically, do they have experience with CBD ecommerce merchants?
A payments processor with little to no expertise in CBD ecommerce will most likely not be able to effectively deal with the evolving legislations, regulatory demands, and need for increased security. Make it easy on yourself and pick a processor that already has numerous CBD merchants and can handle the additional precautions.
3. Do they offer supplementary services in addition to the essentials?
Essential services include mitigating chargebacks, security, and fraud protection, but the customizable options set apart the mediocre processors from the exceptional ones. Additional services to help your business scale and grow may include a tailored gateway, seamless platform integrations, and an open API.
4. Are they well connected and invested in CBD merchant success?
Starting your own CBD wax business doesn’t have to be hard. Keep in mind that the most important aspect to finding a great payment processor is making sure that they are invested in your success. Be sure to select a processor that wants to work hard for your success.
PaymentCloud is a proven leader in securing payment processing for CBD merchants. Find out more about our high-risk solutions, please call 800-988-2215.