Cbd Business

13 Tips For Starting A Successful Cbd Business (2024)

Pat Walls

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Updated: January 19th, 2023

Want to start your own CBD business? Here are some tips you should know:

Learn more about starting a CBD business:

Where to start?

-> How much does it cost to start a CBD business?
-> Pros and cons of a CBD business

Need inspiration?

-> Other CBD business success stories
-> Marketing ideas for a CBD business
-> Cbd business slogans
-> Cbd business names

Other resources

-> Profitability of a CBD business
-> Blog post ideas for a CBD business

We've interviewed thousands of successful founders at Starter Story and asked what advice they would give to entrepreneurs who are just getting started.

Here's the best advice we discovered for starting a CBD business:

#1: Lauren Kay Forsch, founder of Popped.NYC:

We chatted with with Lauren, founder of Popped.NYC ($20K/month). In our interview, Lauren says:

Find a solid support system. Mentors, investors, peers for encouragement and help keeping those booster rockets firing in the right directions.

Read the full interview ➜

#2: Trey Gilliam, founder of CBD Solutions:

We chatted with with Trey, founder of CBD Solutions ($7K/month). In our interview, Trey says:

Just get up every day and start. Even the tiniest amount of effort is still so much more than most people ever put into their grand ideas. You get out of it what you put in.

Additionally:

The [trade] show in Woodward was three days and I ended up doing $2,200 in sales. I was feeling much better, and I had earned back most of the money that I put in so far!

Further:

Know your market. I got into CBD at a great time when the hype was just starting to build. Sadly, my local market has become too saturated, so I’m moving down to Texas where there aren’t as many CBD stores yet so I can get a bigger portion of their market as it builds.

Read the full interview ➜

#3: Evan Marshall, founder of Plain Jane:

We chatted with with Evan, founder of Plain Jane ($275K/month). In our interview, Evan says:

Know when to keep going and when to let go.

Read the full interview ➜

#4: Evan Marshall, founder of Plain Jane:

We chatted with with Evan, founder of Plain Jane ($275K/month). In our interview, Evan says:

When a customer wants to meet you in a Safeway parking lot to get their product faster, you know you have something,

Read the full interview ➜

#5: Gunhee Park, founder of Populum:

We chatted with with Gunhee, founder of Populum ($220K/month). In our interview, Gunhee says:

It was when I stopped “asking for permission”, but rather aggressively pushed the envelope that I started making progress. I set up meetings with local banks, where I could personally sit down and explain how hemp is different than marijuana.

Additionally:

One thing I have learned through all this is to not be afraid to ask for input and feedback from your close network. You don’t have to try to do it all alone.

Read the full interview ➜

#6: Mark Maher, founder of Beyond Botanicals:

We chatted with with Mark, founder of Beyond Botanicals ($300K/month). In our interview, Mark says:

Somewhere along the line, society collectively romanticized this hustle culture of working ridiculous hours, not sleeping, sacrificing everything else, and on and on. Do not, under any circumstances, ruin your health, relationships, or general well-being for your business.