Cannabidiol, abbreviated as CBD, is becoming a household name, and its proponents believe this is for good reasons. Reports indicate that CBD treats several conditions, including chronic pain, inflammation, migraines, epilepsy, autoimmune diseases, and anxiety.
Market trend researchers indicate the CBD market will grow by a CAGR of 21.7 % over the next few years. Rising awareness of cannabidiol’s health benefits and its effectiveness in managing pain are some factors propelling the CBD industry’s growth.
Therefore, starting a CBD business in 2023 could be the best decision you are yet to agree to. Some high-potential CBD business ideas and opportunities include:
- Become a CBD distributor.
- Form CBD cooperatives.
- Run a CBD podcast.
- CBD marketer.
- CBD blogger and reviewer.
- Make and sell CBD bottles and containers.
- Start a CBD subscription box service.
- Start a CBD courier business.
Here are some real life success stories of starting a CBD business:
1. CBD Store of Michigan ($240K/year)
Rod Glupker (from Fremont, Michigan) started CBD Store of Michigan over 4 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. Plain Jane ($3.3M/year)
Evan Marshall (from Chatsworth, Ontario, Canada) started Plain Jane almost 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.
Learn more about starting a CBD business:
Where to start?
4. CBD Solutions ($84K/year)
Trey Gilliam (from Oklahoma, USA) started CBD Solutions over 4 years ago.
Hey everyone! My name is Trey Gilliam and I started CBD Solutions just over a year ago. I established this business because I saw the opportunity in the emerging CBD market and I really believe in the benefits that CBD can bring people.
My original product was bottles of flavored CBD oil, and these continue to be my most sold product. I offer two different flavors, with varying potencies of CBD. I currently sell my product online and in-person at different sales events like trade shows. I have wholesale accounts that buy from me to resell, and several local medical marijuana dispensaries carry my product. Today I’m averaging $7,000 gross monthly revenue.
5. Populum ($2.64M/year)
Gunhee Park (from Tempe, Arizona, USA) started Populum over 6 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.
6. CannaFacturer ($888K/year)
Jackson Jesionowski (from Tucson, Arizona, USA) started CannaFacturer almost 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.
7. 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.
8. Beyond Botanicals ($3.6M/year)
Mark Maher (from Oxford, CT, USA) started Beyond Botanicals about 6 years ago.
Hi there! My name is Mark Maher and I am a co-founder of Beyond Botanicals, a CBD Manufacturing company in the USA focused on Private Label CBD, Wholesale CBD, and our own best-selling line of premium quality CBD products. We help people start their own CBD businesses.
We launched in 2017, doing about $80K in six months of business. In the following two years, we rocketed over $250K in monthly sales and quickly crossed $3M in annual revenue.
9. Healing Harbors ($216K/year)
Stacy Moore (from Brunswick) started Healing Harbors almost 7 years ago.
My name is Stacy Moore. I am one of the founders of Healing Harbors with my business partner Ashley Lenz. We specialize in personal care and pet products made with CBD (cannabidiol) from hemp.
10. Dope Dog ($360K/year)
Michael Benatar and Erin Mastopietro (from Los Angeles, California, USA) started Dope Dog over 5 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.
11. Gold Spectrum ($300K/year)
Yanet Caliz (from Rancho Santa Margarita, CA, USA) started Gold Spectrum almost 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.
12. elate ($36K/year)
Jacob Meyers (from Chicago) started elate over 3 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.
13. CaliConnected ($840K/year)
Nassir Silwany (from ) started CaliConnected almost 5 years ago.
Hello, my name is Nassir Silwany, and I am the Co-Founder of CaliConnected, an online marketplace for smoking accessories. After years of experience in the retail industry, my business partner and I decided to launch CaliConnected in April 2018.
The marketplace holds over $40,000,000.00 of in-stock inventory to the end consumer between our warehouse and vendors we have connected to sell on CaliConnected.com. We have done nearly 2 million in lifetime sales, currently averaging $70K/month.
14. 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 about 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 ➜
15. 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 about 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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Hey! 👋 I'm Pat Walls, the founder of Starter Story.
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