19 Cannabis Business Success Stories
Have you ever thought of starting your own cannabis business?
The cannabis industry has been continuously growing throughout the years. The legal marijuana sales are projected to reach $22 billion by 2022.
No matter your level of experience, the cannabis industry has a lot to offer. There are inspiring stories of entrepreneurs that made it big in this particular industry.
Here are some real life success stories of starting a cannabis business:
1. CBD Store of Michigan ($240K/year)
Rod Glupker (from Fremont, Michigan) started CBD Store of Michigan almost 5 years ago.
Hello, My name is Rod Glupker, I am the co-owner with my wife of CBD Store of Michigan. We currently have a storefront and website with e-commerce. We carry over 60 brands of CBD. We only carry products that have been 3rd party tested. We make sure that the product potency is accurate as well as making sure they contain no heavy metals, pesticides, mold, or lead.
Other customers are parents of children with ADHD, Autism, or just something to help them concentrate. Gummies are popular with them. We have gummies in full spectrum as well as isolates. Isolates have zero THC. Full Spectrum can have up to .3% THC by law in all 50 States. Do not worry, that amount will not get you high.
2. Growers House ($37.2M/year)
Nate Lipton (from Tucson, Arizona, USA) started ** Growers House** over 11 years ago.
My name is Nate Lipton and I’m one of the founders of a group of related companies in the cannabis and hemp industries.
We now have made it to the point where GrowersHouse.com is the largest e-commerce store in our niche, with one of the most popular YouTube series about cannabis cultivation. The cannabis and hemp industries are taking off, and I can’t think of a more interesting industry to be in on the ground floor.
Learn more about starting a cannabis business:
Where to start?
-> Cannabis business plan
-> How to finance a cannabis business?
-> How much does it cost to start a cannabis business?
-> Pros and cons of a cannabis business
-> How to get clients for a cannabis business?
-> Examples of established cannabis business
-> Marketing ideas for a cannabis business
-> Cannabis business slogans
-> Profitability of a cannabis business
-> Cannabis business tips
4. Grobo ($3M/year)
Bjorn Dawson (from Waterloo, ON, Canada) started Grobo about 9 years ago.
Hey! My name’s Bjorn Dawson and I’m a Co-Founder at Grobo. We make smart hydroponic growing systems that enable anyone to easily grow food and cannabis at home.
Today, we’re making $165K per month and increasing quickly. After 18 months of fulfilling backorders, we finally caught up with the initial demand and have been able to build an inventory. This is now enabling us to bring on more sales channels each week to boost our sales. In addition, our systems require Grobo Nutrients to function. With more and more units coming online every day, we’re seeing our consumables revenue crossing the $10,000 per month mark and growing steadily.
5. Tcc media ($264K/year)
Michael Cassini (from Tempe) started Tcc media over 5 years ago.
My name is Michael Cassini and I am the founder of Cannabis Cactus Magazine headquartered in Phoenix, Arizona.
We have built out our 3000 sq. ft. office/studio/warehouse into zones such as retail merchandise, print room, mailroom, 17’ green screen, instrument/music space, and loft area with two 15’ x15’ audio/video studios. This is where our entire print and sales operation takes place, save for our writers and ambassadors who live out of state and abroad.
6. Brush Tokes ($30K/year)
Kelly (from California, USA) started Brush Tokes over 5 years ago.
Brush Tokes is 420-Friendly art sessions created by artists - Kelly and Natasha.
The income for Brushtokes ranges on how many classes are scheduled a month. When we sell out of classes - it is up to $2500 per month and growing.
7. American Cannabis Company ($1.8M/year)
Ellis Smith (from Denver) started American Cannabis Company over 11 years ago.
My name is Ellis Smith and I am the co-founder of American Cannabis Company. ACC is a full-service consulting firm supporting the industry for over 9 years. We specialize in putting together the pre-application tools needed to raise capital as well as write winning applications in competitive markets. We have designed and built over 1.7 million sq ft of growing space to date with another 60,000 sqft under construction currently.
We are making about $150,000 a month as a company with our sites set on acquisitions of grows and dispensaries in 2021. This will increase our revenue to well over $500,000 a month.
8. Cannabox ($4.2M/year)
Michael Berk (from Phoenix, Arizona, USA) started Cannabox ago.
Hi! My name is Michael Berk, and I am the founder of Cannabox, a monthly themed subscription box for essential cannabis accessories. A box includes a glass piece, rolling papers, wraps, gear, snacks, and other accessories an everyday cannabis user needs. We also retail products online as well including our own brand and other popular brands.
Cannabox is currently at an MRR of $350,000 and we have 11,000 subscribers to our box.
9. Plain Jane ($3.3M/year)
Evan Marshall (from Chatsworth, Ontario, Canada) started Plain Jane about 5 years ago.
I’m Evan and I started Plain Jane with my college roommate, Duane Dennis.
Within 5 months of starting to sell, we’re now generating more than $20K a month in sales. We have customers in 47 states and we’re in more than 12 retail locations.
10. elate ($36K/year)
Jacob Meyers (from Chicago) started elate almost 4 years ago.
Hi Everyone! My name is Jake Meyers and I’m the founder and CEO of elate CBD. We are a premium CBD brand on a mission to shatter the cannabis stigma and promote balance, clarity, and happiness for everyone.
In September 2020, we did a grassroots launch with virtually no advertising. We were able to close out 2020 with $15,000 in revenue & a 50% bottom line.
11. Popped.NYC ($240K/year)
Lauren Kay Forsch (from New York) started Popped.NYC ago.
Hi. I am Lauren Forsch and I formulate, manufacture and provide handmade, all-natural, small-batch CBD products in the health and wellness industry via e-commerce.
While we have had months where our sales revenue topped $20,000; this month, we struggle to clear $2,000. This is due to setbacks from COVID-19 - we were due to expand our successful in-person retail pop-ups, but also being in a stigmatized industry - we lost our credit card processor for the summer months. Ouch! If we were measuring by dollars alone, we would be worried, but we know that these setbacks help us build a stronger business.
12. Vitaeglass ($360K/year)
Gordon Loi (from San Francisco, California, USA) started Vitaeglass about 4 years ago.
Hey guys, I’m Gordon Loi the founder of VITAE Glass, a modular bong company that allows you to build and customize your unique bongs. You can think of us as the LEGO of bongs, with interchangeable pieces and endless combination possibilities. The majority of bongs have mostly been large, single pieces of glass that were fragile and difficult to clean. We took this age-old design and re-engineered it to be modular, so that it’s now easier to clean, transport and be replaceable if you ever break apart.
13. CannaFacturer ($888K/year)
Jackson Jesionowski (from Tucson, Arizona, USA) started CannaFacturer about 4 years ago.
My name is Jackson Jesionowski. I am 21 years old and am 8 months into owning FullBodyZen, a CBD/HEMP manufacturing company.
My whole business started with CBD Pods compatible with the Juul, this soon became hemp flower, prerolls. and hemp cigarettes. Now, 8 months later we are doing $17K in revenue a month and have 14 total products.
14. Gold Spectrum ($300K/year)
Yanet Caliz (from Rancho Santa Margarita, CA, USA) started Gold Spectrum over 3 years ago.
Hello! My name is Yanet Caliz, CEO, and founder of Gold Spectrum Lifestyle CBD Brand and Silk Bombs CBD Spa Products. I migrated from Mexico to California at age 13 with my mom and younger brother. We lived in a one-bedroom, one-bathroom apartment with 18 other people.
There are no artificial colors or flavors, and it’s excellent for muscle recovery, among many other benefits. These product targets athletes, an equal split of males and females, who are young to middle age, health-focused, affluent, up-to-speed with current trends, and well-informed. They are individuals who prioritize fitness and wellness.
15. Dope Dog ($360K/year)
Michael Benatar and Erin Mastopietro (from Los Angeles, California, USA) started Dope Dog almost 6 years ago.
Hi Guys! Michael and Erin here. We are the co-founders of Dope Dog and we’re on a mission to make dogs happy.
Within the first year, we went from 1 flavor of the Calming Crunchies treat to a full line of 9 products including CBD oils and even a dog shampoo! We’ve been bootstrapped and growing organically since we started and are currently generating 18k in monthly revenue.
16. Populum ($2.64M/year)
Gunhee Park (from Tempe, Arizona, USA) started Populum almost 7 years ago.
Hey guys. My name is Gunhee Park and I’m the founder of Populum. We’re a direct-to-consumer CBD oil brand that offers a collection of premium, high-quality products designed to be a part of your daily wellness ritual.
17. Medicine Man Technologies ($6M/year)
Joshua Haupt is a marijuana millionaire who grew up gardening and started growing cannabis in high school because he used it to treat his epilepsy. The 32-year-old turned his cannabis growing method into a $500 guidebook and a nutrient line that he sold to cannabis consulting firm Medicine Man Technologies for 7 million shares of the company in 2017. He personally owns about 4.4 million shares, currently worth about $9 million. Haupt also owns two cannabis grow facilities in Colorado.
Joshua Haupt (from Denver, CO, USA) started Medicine Man Technologies over 9 years ago.
Joshua Haupt is the founder and CEO of the cannabis consultancy firm, Medicine Man Technologies.
Joshua Haupt is a self-made millionaire, entrepreneur, author, and cannabis grower.
Since 2014, Medicine Man Technologies' cannabis consulting business has supported clients all over the world in making informed decisions regarding cannabis consumption.
According to the medical cannabis hub RXLeaf, Haupt has earned the moniker "Steve Jobs of cannabis" due to his significant influence on cannabis cultivation and the cannabis industry.
Read the full story on cnbc.com ➜
18. Blessed CBD ($9.6M/year)
Vithurs' unique skill set, paired with his fearless approach to business and deep knowledge has set him apart
Vithurs Thiru (from London, United Kingdom) started Blessed CBD over 5 years ago.
Vithurs Thiru is the founder of the CBD production company, Blessed CBD, based in the UK.
The company was founded in 2018, a year after cannabidiol had been made legal in the United Kingdom, and was a near-instant hit.
Vithurs Thiru is a self-made millionaire at only 24 years of age.
Since 2018, Blessed CBD in this Cannabidiol business and supported clients all over the world.
Vithurs wants to improve people's health and wellbeing with the help of his CBD products - CBD oils, gummies, capsules, and creams.
Read the full story on latintimes.com ➜
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