13 Cbd Business Success Stories [2024]
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 2024 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.
In this list, you'll find real-world CBD business success stories and very profitable examples of starting a CBD business that makes money.
1. Beyond Botanicals ($3.6M/year)
Mark Maher, co-founder of Beyond Botanicals, had a background in sales and a passion for health and education. When a client asked if they could make CBD oil products, Mark dove into researching CBD's potential benefits and knew it was a product that could truly make a difference. Alongside his co-founder, Jake Firmender, they started their own CBD business, focusing on providing Private Label CBD services to other startups. Despite facing challenges in payment processing and advertising, they quickly gained traction in the industry and achieved impressive revenue growth, reaching over $3M in annual sales.
How much money it makes: $3.6M/year
How much did it cost to start: $7K
How many people on the team: 8
Beyond Botanicals, a CBD manufacturing company in the USA, focused on private label CBD, wholesale CBD, and retail CBD products, started with a $7,000 loan and rose to over $3M in annual revenue in just three years, largely due to good taste as a competitive advantage and traditional marketing approaches.
2. Plain Jane ($3.3M/year)
Plain Jane, the ultra smooth and low odor Hemp CBD flower and cigarette company, was started by college roommates Evan and Duane. The idea came from their desire to create less smelly weed products that don't cause coughing. Within 5 months of starting to sell, the company is generating over $20K a month in sales and has customers in 47 states and 12 retail locations.
How much money it makes: $3.3M/year
How many people on the team: 16
Plain Jane, an online CBD company founded by two college roommates, offers unique products and has generated over $20K a month in sales within five months, attracting and retaining customers through social media, authentic stories, and content.
3. Populum ($2.64M/year)
Gunhee Park, the founder of Populum, came up with the idea for his direct-to-consumer CBD oil brand after experiencing a poor shopping experience in the CBD oil market. He recognized the opportunity to create a high-quality brand that reframed how people view CBD, offering trustworthy products with stellar customer service. Through manual strategies like word-of-mouth and engaging with individual blogs and forums, Park organically grew his business, which now boasts a monthly sales of $220K and an impressive $3M ARR.
How much money it makes: $2.64M/year
How many people on the team: 7
CBD oil brand Populum grew from $650K to $1.4M in annual revenue in just one year, with monthly sales of $220K and an ARR of $3M, due to investing in high-quality, trustworthy hemp products and stellar customer service.
4. CannaFacturer ($888K/year)
Jackson Jesionowski, the founder of FullBodyZen, came up with the idea for his CBD/HEMP manufacturing company after experiencing a serious snowboarding accident that left him with cognitive impairment. Through his research, he discovered the potential benefits of CBD for reducing swelling and decided to create CBD Pods compatible with the Juul. The initial success of these pods led him to expand his product line and generate $17K in monthly revenue within just 8 months.
How much money it makes: $888K/year
How much did it cost to start: $90K
How many people on the team: 8
21-year-old Jackson Jesionowski left college to build a CBD manufacturing company, FullBodyZen, which now generates $17K in revenue a month and has 14 products.
5. CaliConnected ($840K/year)
Nassir Silwany, Co-Founder of CaliConnected, came up with the idea for the online headshop marketplace after realizing that the cannabis equipment industry was untapped by large retailers like Amazon. With his background in the retail industry and knowledge of the cannabis industry, Nassir saw an opportunity to create a trustworthy and customer-friendly platform for smokers looking for quality smoking accessories.
How much money it makes: $840K/year
How much did it cost to start: $5K
How many people on the team: 2
California-based online headshop marketplace CaliConnected has grown its inventory to over $40m and generated nearly $2m in lifetime sales while operating without paid search advertising, instead focusing on SEO and affiliate marketing through platforms such as Affiliatly and Moz.
6. Utokia ($504K/year)
After overcoming a wrist injury and opioid dependency, Holly Hillyer discovered cannabis through her parents' homemade edibles. This, combined with Oregon's newly legalized cannabis market in 2016, inspired her to leave her project management job and launch Utokia, now generating $30,000 monthly.
How much money it makes: $504K/year
How much did it cost to start: $30K
How many people on the team: 2
Discover the journey of a cannabis entrepreneur who transitioned from opioids to cultivating some of the best indoor flowers in the nation, generating $30,000 a month, and expanding into a hemp-derived product line that already rakes in $15,000 a month in revenue.
7. Dope Dog ($360K/year)
Michael and Erin, the co-founders of Dope Dog, came up with the idea for their business when their dog, James, needed a natural alternative to the medicine he was prescribed after ACL surgeries. They started supplementing with CBD and saw incredible results, which led them to create a line of CBD products specifically designed for dogs. Since their launch in 2017, they have grown organically and are currently generating $18,000 in monthly revenue.
How much money it makes: $360K/year
How many people on the team: 2
Dope Dog, a CBD dog product company founded by Michael and Erin, went from 1 product to a full line of 9 products within a year, generating $18K in monthly revenue through organic growth and word of mouth marketing.
8. Gold Spectrum ($300K/year)
Yanet Caliz, CEO and founder of Gold Spectrum Lifestyle CBD Brand and Silk Bombs CBD Spa Products, came up with the idea for her businesses after experiencing the incredible benefits of CBD first-hand. After seeing the market flooded with low-quality products, she decided to create her own high-quality, all-natural CBD brand. Since launching in the middle of the pandemic, her businesses have seen impressive success, with an average monthly revenue of $20,000 and plans to expand to platforms like Facebook, Instagram, and Amazon in the future.
How much money it makes: $300K/year
How much did it cost to start: $135K
How many people on the team: 5
CEO Yanet Caliz discusses how she launched her health-focused CBD brand, Gold Spectrum, in the middle of the COVID-19 pandemic, with an average monthly revenue of $20,000 and plans for continued growth through digital marketing campaigns and influencer partnerships.
9. Popped.NYC ($240K/year)
Lauren Forsch, the founder of Popped.NYC, came up with the idea for her CBD business after opening an artist cooperative and realizing that people were willing to spend money on handmade, natural products like body butter. She saw a gap in the market for a topical CBD product and decided to create her flagship CBD body butter. Despite setbacks from COVID-19 and being in a stigmatized industry, Popped.NYC has had months where their sales revenue topped $20,000.
How much money it makes: $240K/year
How much did it cost to start: $1K
How many people on the team: 1
Popped.NYC, a handmade, all-natural, small-batch CBD products e-commerce business with sales revenue topping $20,000/month and customers suffering from inflammatory diseases, struggled to clear $2,000/month due to setbacks from COVID-19 and being in a stigmatized industry.
10. CBD Store of Michigan ($240K/year)
Rod Glupker, the founder of CBD Store of Michigan, came up with the idea for his business after experiencing firsthand the pain-relieving benefits of CBD. His wife introduced him to CBD, and after researching and attending seminars, he started recommending it to friends. As demand grew, he began wholesaling CBD products and eventually decided to quit his job and launch his own storefront and website. Despite challenges with advertising and regulations, the business has continued to grow and plans to open more stores in the future.
How much money it makes: $240K/year
How much did it cost to start: $4K
How many people on the team: 2
Learn how one entrepreneur built a successful CBD business (with over $100,000 in inventory and 60 brands) from scratch, including what worked for them to attract and retain customers, the challenges they faced (including advertising) and advice for getting started in the industry.
11. Healing Harbors ($216K/year)
Stacy Moore, a former Coast Guard helicopter mechanic, discovered the potential benefits of hemp and cannabis while providing home healthcare. After formulating a cream that drastically improved her client's mobility, Stacy founded Healing Harbors to offer thoughtfully made hemp products and educate others about the potential of natural remedies. The company has since grown, with products manufactured in-house and a focus on high-quality ingredients and customer satisfaction.
How much money it makes: $216K/year
How much did it cost to start: $200K
How many people on the team: 1
This case study follows the journey of Healing Harbors, a female-founded company that specializes in personal care and pet products made with CBD and has grown to generate $216k a year through e-commerce and wholesale accounts thanks to carefully planned formulation, small-batch manufacturing and meaningful relationships with customers.
12. CBD Solutions ($84K/year)
Trey Gilliam, the founder of CBD Solutions, came up with the idea for his business after working at a local CBD chain and seeing the potential in the emerging CBD market. After completing a 500-mile hike in Spain, he gained the clarity and confidence needed to start his own CBD company. Today, he sells flavored CBD oil online and at trade shows, generating an impressive $7,000 in gross monthly revenue.
How much money it makes: $84K/year
How many people on the team: 1
This case study details the founding of CBD Solutions, a CBD product manufacturer that generates $7,000 in monthly revenue through wholesale accounts, trade shows, and online sales, and the founder's journey in creating a successful business through personal interactions and knowledge of the market.
13. elate ($36K/year)
Jake Meyers, founder and CEO of elate CBD, was inspired to start the business after realizing his passion for helping people live happy and healthy lifestyles. With his background in the corporate world and personal experience with cannabis, he saw an opportunity in the market and launched elate CBD to promote balance, clarity, and happiness through premium CBD products. Since its grassroots launch in September 2020, the company has achieved impressive success, closing out 2020 with $15,000 in revenue and a 50% bottom line.
How much money it makes: $36K/year
How much did it cost to start: $20K
How many people on the team: 0
Elate CBD's founder and CEO, Jake Meyers, shares how he launched a premium CBD brand with virtually no advertising and closed out 2020 with $15,000 in revenue and a 50% bottom line, relying on grassroots efforts, personal networks, and influencer partnerships, and utilizing platforms like Shopify and resources like Klayvio, Bundler, Poptin, and Quickbooks.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
