7 Cbd Oil Business Success Stories [2024]
CBD oil is taking the world by storm. It's a natural, non-toxic, and highly effective way to manage everything from anxiety and depression to chronic pain. And it can be used in so many ways smoked, vaped, ingested, or applied topically.
Research shows that CBD, the non-psychoactive component in marijuana, has a host of health benefits and can help treat everything from anxiety to chronic pain to cancer. And with more states legalizing marijuana for both recreational and medicinal use, the market for CBD oil products is only going to continue growing.
In this list, you'll find real-world CBD oil business success stories and very profitable examples of starting a CBD oil business that makes money.
1. Vape and Juice ($3.6M/year)
ithin the legal boundaries to creative marketing tactics, we have explored various strategies to attract and retain customers. One effective method has been our content marketing efforts, particularly through blogging. This has allowed us to educate and engage with our target audience while establishing ourselves as industry experts. Additionally, our physical vape shops have played a vital role in attracting local customers and providing a personalized experience. Through exceptional customer service and a wide range of products, we have been able to build a loyal customer base.
How much money it makes: $3.6M/year
How much did it cost to start: $5K
How many people on the team: 20
A former ex-con launched Vape and Juice with just Β£5,000 and has since built a seven-figure vaping company with online sales increasing 800% during lockdown, by offering exceptional customer service and investing in talent.
2. 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.
3. 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.
4. Thulisa Naturals ($348K/year)
Anusha Moodley, the founder of Thulisa Naturals, came up with the idea for her business after struggling with postpartum depression and wanting to create replenishing rituals for mental and physical well-being. Starting with a $5,000 budget, she formulated aromatherapy shower steamers and successfully sold them at markets and boutiques. The business has grown to make $29,000 in monthly revenue and is expanding into new product lines.
How much money it makes: $348K/year
How much did it cost to start: $4.97K
How many people on the team: 2
Thulisa Naturals founder, Anusha Moodley, shares the journey of building her natural bath and body product company, which boasts a 25% post-tax profit after generating $29k in monthly revenue and expanding into 123 retail stores across the US.
5. 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.
6. 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.
7. 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.
