The final concern to address - was the market high growth with not much competition or was it slow growth with a lot of competition or somewhere in between? This was easy and compelling to determine. One look at Google trends showed the clear demand for these products seen in graph below. Another credible source, Forbes, predicts growth of the cannabis industry to be over 700% by 2020 - in fact, no other industry is growing faster. I also looked at the competition and compared the quality of products, their pricing, marketing, etc. and found that HempWorx was a clear leader. But what about competition - was it saturated or was their room to get in and make it work? Using a variety of metric tools, I figured out that it was definitely still quite early to be venturing into this market and the opportunity for growth without a lot of competition will be available for quite some time.
CBD-rich hempseed is legal now, but it’s also rare, giving plant breeders a huge new market as barriers to national hempseed distribution are removed. The 2018 Farm Bill guarantees interstate commerce for all hemp products, removing requirements that viable hempseeds require approval from the U.S. Drug Enforcement Administration. But the law leaves in place requirements […]
Because CBD currently operates on the boundaries of legality, it's tricky to figure out how big the industry is and how much bigger it could get. Brightfield pegs the market for hemp-derived CBD products at about $591 million in 2018, growing to $22 billion by 2022. Other analysts, while nowhere near as bullish, are still very positive on the sector. Hemp Business Journal says the market for hemp-derived CBD was about $190 million in 2017, and will grow to $646 million by 2022.
Fuentes and Barosso soon became business partners and the co-founders of Green Roads. Barroso went door-to-door to smoke shops, leaving bottles of CBD oil on consignment. "In the beginning, no one would give us the time of day," Fuentes says. Then she started hearing that grandmothers were going into vape shops to find CBD. "I was like, we have to do something about this," she says. "Grandmas are not comfortable in vape stores!"
Dolgin was a veteran of the Office of the Director of National Intelligence and the National Counterterrorism Center, both in D.C., before he got burned out on government jobs. He’d been working on cybersecurity projects in New York when he met Justh. “I grew up as a Jewish kid on Long Island,” Dolgin says. “I like the idea of making an impact in a depressed New York community, and of looking at agriculture in a new way. We began to consider hemp. Because of my regulatory background, I knew how government works—and doesn’t work.”
I’ve used several oils before trying Hempworx. Negative reviews are often from other competitors or other MLM companies too. MLM has received a bad rep because of pushy reps and reps that have spammed people for years. It’s unfortunate that people review a product based upon their opinion of MLM reps. If you really take a look at the Hempworx oil, you will see that it is a pure product. The oil does not have any added non-hemp carrier oil. And if you go to an affiliates website, all you need to do is scroll down to the bottom and click on FAQ. You will get a ton of information. I also think people should keep in mind that if you are google searching for reviews on a particular product, pretty much all the “reviews” out there are also affiliates of each of those companies, and when you click on the links provided, they are receiving a percentage of the sale as well.
The legalization of hemp does more than simply create a new industry, and thus new business ideas and opportunities for entrepreneurs. Hemp is an extremely diverse crop with a wide range of applications, including in textiles, nutrition and biofuels, to name a few. The wider availability of these products could provide small businesses with more cost-effective or durable inputs.
I also needed to know about the HempWorx management and marketing presentation - were they quality people with a quality message or were they cheesy and sleazy? I was surprised to find out that the Founders of HempWorx are a young couple, Jenna and Josh Zwagil (photo right). The company was born out of Jenn’s and her son’s medical needs after trying a CBD Oil product. After watching many videos and talking to other affiliates, I learned that Jenn and Josh are pretty straightforward, no B.S. people who care about making a difference in people’s health and wealth. The way they present the product is the same - nothing flashy or sleazy - just straight facts about the products and industry with a quality hands on approach.
I tried cbd oil for the ﬁrst time a little over a month ago I was having four migraines a week and I also suffered from psoriatic arthritis pain for the past 20 years. I was in so much pain and the medication I was on was giving me bad side effects. Within two days of trying cbd oil I was pain free and I couldn't believe it. cbd oil did what no narcotic pain reliever or anti inﬂammatory could do it also helped me with severe anxiety and panic attacks and my bipolar miracle. I am amazed.
In states that have only legalized the medical, not recreational, use of marijuana, testing is less consistent, Boyar says. Several states—including Connecticut, Delaware, Hawaii, Florida, Illinois, Maryland, Minnesota, New Hampshire, New Jersey, New Mexico, and New York—do require some testing of products, according to the National Cannabis Industry Association. But others don’t, including Arizona and Michigan.
TINA.org reached out to the Zwagils, the company’s founders, for comment. Erin McGinnis, HempWorx’s director of compliance, responded with a statement indicating the company is in the process of reviewing every item in the above article and every entry in the health and income claims databases TINA.org compiled. As of 9/6/18, HempWorx had removed 83 of more than 100 health claims and 35 of more than 50 income claims. In addition, McGinnis said HempWorx has suspended several distributors and terminated one in response to TINA.org’s findings.
Also, all HempWorx products are 100% organic and non-genetically modified, and the company apparently makes all of its products right here in the United States. Moreover, the hemp used to extract the oil is grown in Kentucky, and unlike a lot of firms who claim their CBD products to be lab tested, HempWorx actually ‘walks the walk’ by publishing up-to-date details of their test results on the site (you can find them under the “HempWorx Store” tab by clicking the “CBD Oil Certification” button).