Business Overview

A medicinal herbs business may involve the actual growing and selling of herbs used for medicinal use. As an alternative to growing their own, owners of this type of business may purchase medicinal herbs in bulk from a grower and then resell the herbs to individuals or retailers.

Who is this business right for?

The owner of a medicinal herbal business should have a background in using herbs as a medicine, even if they are not a certified herbalist. Owners who plan on growing their own medicinal herbs need a background in gardening and enough land to grow herbs. All owners should be open and care about people, and they should have a desire to give back to their communities, but the industry also requires a shrewd business sense to stay profitable.

What happens during a typical day at a medicinal herbs business?

Herbal medicinal business owners spend much of their time handling marketing and sales. This may mean working in a store or creating websites and running ads to sell online. Medicinal herb business owners which grow their own herbs will spend a good portion on their days planting, tending to, and harvesting herbs. Those owners which buy wholesale will need to talk with suppliers, order supplies, and repackage herbs.

What is the target market?

Medicinal herb businesses have several kinds of customers. The best retail customer is a person interested in living a natural, healthy lifestyle and already has experience with herbal medicine. A good wholesale customer is an established herbal medicine store which is looking to expand its product line. Herbal practitioners interested in earning more money by creating a white-label brand under their own name are great potential customers.

How does a medicinal herbs business make money?

Medicinal herbs business owners make money by selling herbs.

What is the growth potential for a medicinal herbs business?

There is a massive growth of natural products and healthier alternatives to more common medical issues in the US. This will mean there will be a higher demand for medicinal herbs in the future.