Hemp Products Business

4 Hemp Products Business Success Stories [2024]

Pat Walls

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Updated: October 6th, 2024

As the hemp industry continues to grow, so does the demand for hemp products. The time is right to start a hemp products business.

Hemp is a versatile and sustainable crop, and with the rising popularity of hemp products, it's a great opportunity to start your very own hemp products business.

You can choose from a wide range of products including clothing, cosmetics, food products such as oil and flour, and even building materials for homes and other structures like fences or barns.

In this list, you'll find real-world hemp products business success stories and very profitable examples of starting a hemp products business that makes money.

1. Elixinol Global ($9.6M/year)

In the early 90s, the founder learned about the nutritional benefits of hemp seeds while traveling in Canada. This led to the idea of starting a hemp foods business in the UK, which eventually expanded into multiple ventures in the hemp industry. After many years of hard work and perseverance, the founder's businesses were merged under Elixinol Global, a publicly traded company that recently raised $120 million in funding.

How much money it makes: $9.6M/year
How much did it cost to start: $1M
How many people on the team: 35

How I Started A $1M/Month Hemp Products Company That Is Publicly Traded In Australia

Founder builds multimillion-dollar hemp products company from scratch, merging Hemp Foods Australia and Elixinol to become Elixinol Global, trading via the ASX with approximately 50-70% gross margins.

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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

How Two College Roommates Started An Online CBD Business

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.

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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

I Created A $45K/Month Female-Led Cannabis Brand

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.

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4. Stello ($36K/year)

Brandon Nolte, co-founder of Stello, came up with the idea after building a successful CBD business. Seeing the need for a unique product in the CBD space, he decided to create stress diffusing mints. With the help of a product development company and a branding agency, Stello was brought to life. Despite limitations in marketing due to restrictions on platforms like Google and Facebook, Nolte is focused on attracting more customers and improving the product and customer experience.

How much money it makes: $36K/year
How much did it cost to start: $350K
How many people on the team: 0

I Launched A Stress-Diffusing Mints Brand After Building A $10M CBD Business

Brandon Nolte, the co-founder of Stello, a stress diffusing mint company, shares his journey of launching a new company after +8 years and +$10 million in sales in the CBD space, including the challenges and opportunities of product development, branding, and marketing strategies in the CBD industry.

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