This will just a be a short note today. I wanted to reply to an inquiry we received over the weekend from a customer who thinks we are "making the bucks" with the high price of CBD Hemp Oil.
First, let me say I'm sorry that CBD Hemp Oil costs as much as it does. Its unfortunate that a natural product that is so needed by many has to cost as much as it does. But, the initial price point consideration is how much hemp plant material has to be processed to get enough CBD to be helpful. These operations, which are not ours, they are their own companies, have to process an extreme amount of hemp plant to get the CBD's we require for our customers.
Then, the manufacturer of the products have their costs to actually take raw CBD gel and turn it into a palatable product that can be ingested. The manufacturers typically have testing that has to be done on the raw CBD gel when they're buying it to make sure its safe -AND- they have to have their products tested at various stages to ensure what they're putting out is what the label actually claims.
Finally, the retailers (us) take the cost we have to pay and mark it up appropriately to cover our costs and turn a profit. Most industries have retailers taking a 30-50% mark up, prior to operating costs, to cover their costs and leave a profit usually in the 10-15% range. I can't speak for other CBD Hemp Oil products, but, our typical markup is approx 30%. We run a very tight operation and are able to generate profits in the range of 6-8% when all is said and done.
I bring all this up so those who need CBD Hemp Oil products won't feel as if they're being unrightfully gouged. WellSpring CBD is truly here to help our customers get what they need to enjoy a decent quality of life.