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So if you want a product that probably has a little THC but not so much to get you high, look for one made from hemp. Such products have the added benefit of being widely available, including online and in retail stores. (Note that while Boyar and other experts say that CBD products should also include THC levels on their labels, many made from hemp don’t. For that, you need to check a product’s test results, if they are available; see number 4, below.)
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.
Hempworx provides Distributors with a variety of lead capture and product specific pages. You can enroll free below and take a tour of the distributor back office. I recently posted a new training call, “Your First 15-minutes as a Hempworx Distributor“. That training includes a 15-minute video of the back office and a discussion about Hempworx Leads and support that is exclusive to my team.
Unlike hemp-derived CBD products, those made from marijuana must undergo testing—at least in states that permit medical and recreational use of marijuana. In some of those states, dispensary staff are supposed to have the COAs available and be willing to share them with you. If they aren’t, or the COA is not available, go to another dispensary or choose another product.
Not only did prohibition mean hemp companies were legally unable to engage in interstate commerce, it also meant access to critical business services was often restricted. This includes banking, for example, because many banks harbored concerns about doing business with a company that remained federally illegal. Not only would that require more compliance work, risk management and due diligence on the part of the bank, it also would put banks at risk for money laundering charges and loss of FDIC status if the federal government enforced the laws on the books.
Although the HempWorx ‘About Us’ page is filled with excellent information on the history of CBD, there is unfortunately little data about the actual organization itself. We did learn, however, that they use “special” supercritical technology that extracts over 400 phytonutrients from the raw hemp material, and that they don’t use any harmful solvents or heat, which is of course a good thing.