Definitely check with insurance and local regulations.
For instance, I can't have more than 20 pounds of lye on my property at any given time or I would need to get training for handling 'dangerous chemicals', carry a hazardous material license, and have special insurance. So, no 50-lb bags for me! It's all because lye is so prevalent in meth-making, and we do have a problem with that in our rural area. I have to sign a waiver every time I buy it locally, and it's special-ordered for me.
I know many states require specific training, regulation, and licensing in order to store or sell it, so make sure it's legal before you do.