In 2018, Rolling Stones magazine published a report revealing CBD market will hit $22 billion by 2022.
That is a phenomenal prediction on a relatively “new product”. Because of the many reported benefits of CBD, its popularity is unimaginable. As popular as it is, many frowns about it. The reasons are mostly based on misinformation if not ignorance.
CBD IS NOT MARIJUANA
Many years ago, very few have heard of CBD. Knowledge about CBD were inaccurate if not erroneous. The most noted misconception is that CBD is marijuana. Although CBD can be extracted from hemp and marijuana the extracts differ in properties. CBD from marijuana is high in THC (tetrahydrocannabinol), which makes user psychoactive; while CBD from hemp contains very low THC. No high effect on any users. For this reason Hemp CBD is almost allowed everywhere and as a component in almost any consumables. CBD is almost incorporated in any potentially propitious product. CBD is in vapes, drinks, cookies and even pet foods.
When an item is a useful ingredient, it has value. In this case, a high value. The high value classifies it as business opportunity; an income opportunity. And in this case, a cbd business opportunity. You can be a farmer growing hemp. Since the enactment of Farm Bill 2018, US farmers were given the prerogative and incentives to plant hemp. Farmers planting hemp for commercial use can enjoy a more profitable venture for their lands. Hemp farmers in turn can supply the needs of CBD manufacturers. Some of these manufacturers sell directly; some through resellers. Some even provide dropshipping programs where CBDs are delivered directly to customers provided by resellers. Or you can join some MLM (Multi-level Marketing) companies involved in CBD products.
When you consider CBD business opportunity, you have to take into account the stage at which you want to be a part of.
Farm Bill 2018 Gave Farmers A Break
Being a hemp farmer may not be as easy as you think. Aside from owning or having access to a large tract of land, one also needs capital to for seeds, machineries and storage facilities. I think to be a hemp farmer, you need to have a farming experience. For example a soybean farmer may variegate to hemp farming. Jumping into hemp farming without any form of farming experience is not advisable. If you are a corporation, maybe the corporation be composed of farm-experienced incorporators.
CBD manufacturing entails mostly extracting process. There are many ways of extracting CBD; and many kinds of equipment to use. CBD manufacturers’ products will depend on what extraction process will be employed.
Most CBD manufacturers have their own brand. Some sell directly through their online website; some have their own resellers. Some even have their own white labelling services. You can have your own CBD brand made for you. But you will do all the marketing aspect of this business including shipping and of course capitalization.
At present CBD is still considered a high risk business. CBD is still being frowned at by some business sector especially the payment gateway companies. Paypal and Stripe will cancel your account if you are a merchant selling CBD-related products. CBD is considered a high-risk transaction commodity. There are some high-risk gateway processors though that provide payment/processing services but their requirements are steep and the rates are exorbitant.
CBD’s Limited Advertising On Social Media
Facebook, Google and Taboola do not accept advertisements for CBDs. What is strange though is they accept ads for hemp oil and hemp oil contains CBD. I guess as long as you do not use the word CBD, advertising hemp oil is fine with them. In short, if you are an online merchant planning to sell CBD products, good luck with your CBD advertising campaign.
Does that mean you cannot take even a small bite of that $22 billion cake?
$22 Billion Forcast By 2022
Absolutely not. That cake is so huge and will continue to grow as time goes by especially when more users attest to its health benefits.
But just like any new business or new industry one has to be careful in jumping on it. One needs time to assess the sustainability of the product itself. Its long-term market acceptability; the risks to be considered. In other words, is it feasible. Create a business plan.
$22 billion market forecast is huge. I can see big investors salivating to join this bandwagon. I can see big pharma in the picture. In fact some big pharma is marketing a CBD-based drug for epilepsy. And the FDA (Federal Drug Administration) approved it. Does that mean small investors are out?
Start Small With Multi-Level Marketing
Of course not. Unless you have a substantial capital outlay, there is a way to start your own CBD business. Start small. Join multi-level marketing. Some MLM CBD companies do not require any entry fee or even product package investment. CTFO is one company where you can join the CBD business for free. When you are comfortable with the business, you can then consider reselling. Then white labelling. Later, you may venture on manufacturing. The market is huge. However, multi-level marketing is the cheapest and easiest entry-level in cbd business. MLM is a great business model where you can learn everything about CBD. One thing I like about MLM, I don’t have to deal with shipping the product bought by my customers or downlines. I don’t even have to deal with Paypal or Stripe or other payment gateway processors. All I have to do is campaign to expand my base of customers and downlines.
“A journey of a thousand miles begins with a single step”. Take that first step. Join CBD business opportunity. It is free to join. MLM is one way and the easiest way on how to start a cbd business. Find out how.