Pros:
1. Low start-up cost – You don’t need to spend a lot of money to start an herbal business as many herbs can be grown in your own garden or bought cheaply at farmers markets and health food stores.
2. Increasing demand – The natural and organic market is growing rapidly, with more people looking for herbal remedies and supplements to support their health.
3. Variety of markets – Herbs can be sold directly to customers through your own store or website, or you can wholesale them to retailers, practitioners and manufacturers.
4. Flexible business model – You can choose to focus on growing and selling herbs, or you can offer consulting and other services related to herbs.
Cons:
1. High competition – There are many herbal businesses out there, which may make it difficult for you to stand out from the crowd.
2. Regulatory compliance – Depending on the type of product you plan to sell, you may need to comply with various regulatory requirements which can be costly and time-consuming.
3. Lack of knowledge – You will need a good understanding of herbal medicine in order to provide accurate advice and guidance to customers.
4. Seasonal demand – Herbs are seasonal products, so you may experience fluctuations in demand throughout the year.
5. Perishable products – Herbs may be vulnerable to spoilage, so you need to have strict storage and shipping procedures in place.