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That $100 million could soon be going back to American farmers and businesses, thanks to the recent introduction of the Hemp Farming Act of 2018 by Senate Majority Leader Mitch McConnell (R-KY). The bill, announced by McConnell and supported by a bipartisan group of senators, would “legalize hemp as an agricultural commodity and remove it from the list of controlled substances.”
If you enrolled 10 people at the executive package, you would earn $100 times 10 — $100 times 10 is $1,000. If those 10 people all went out and brought two people in at executive, that’s 20 new people — 20 people times $20 is $400. If those 20 people went out and recruited new people and these people went out and recruited more people, as you can see the jump start bonuses add up very quickly.
Returning to our CBD article, Dr. Jean Talleyrand, founder and Chief Medical Officer of MediCann in Oakland, California, and co-founder and Chief Medical Officer of The Clinical Endocannabinoid System Consortium in San Diego, California, emphasizes that any “product should be evaluated for its packaging, shelf life, and variance,” as well as third-party testing, which will show strength and purity.
2) Time and Hassle - It takes a ton of time to get a traditional cannabis business off the ground - years for some when you include all the licensing, permitting, zoning, city and state regulations and taxes, staffing, commercial space acquisition, etc. not to mention the delays, stress and headaches of all these requirements. With the HempWorx business opportunity, you can be in business within 2 minutes from now literally. Simply go here, signup and you’re in business.
For those unfamiliar with the status of hemp these days, Dolgin supplies the 30-second download: “In the ’70s it got caught up with marijuana in the anti-drug laws. It stayed that way for several decades, until the tobacco industry hit rock bottom and states like Virginia realized they need a new crop for farmers. In 2014 the passage of the U.S. Farm Bill allowed states to conduct hemp pilot programs. You could grow hemp if you were certified and licensed.” Because of the government work Dolgin had done, he was able to work closely with state senators and Governor Andrew Cuomo’s office to pass a series of bills that allowed JD Farms to grow hemp. The industry is currently a $688 million business in the U.S.
“As we researched hemp food products, the majority of it was as a base ingredient for shakes and smoothies,” says Dolgin. “We believe the next iteration of the hemp market is to go into snack foods, to give it wider penetration into households,” he says. “We’re looking at products like ice cream and beer. We already have a pretty broad product portfolio, and we want to get even more innovative.”
Legalization removes these barriers and is expected to provide a boost to the U.S. hemp industry, which was previously on track to grow to a $2 billion market by 2022 prior to the Farm Bill's passage. According to the Brightfield Group, though, legalization would result in a $22 billion hemp-derived CBD market by 2022, which excludes the many other types of hemp-derived products on the market. To put that in perspective, the entire domestic cannabis industry (which includes not just hemp, but also cannabis and all its derivative products) was projected to stimulate $23.4 billion in consumer spending by 2022. That means if the Brightfield Group's estimates are accurate, hemp-derived CBD alone could double the projected market value of the entire cannabis industry.
A growing body of evidence suggests that hemp roots can remove toxins from soil and water better than practically any other plant. Hemp has been proven to absorb heavy metals from soil, including zinc, cadmium, lead and arsenic. Hemp has been used to detoxify the soil around the site of the Chernobyl nuclear disaster. Hemp could help address climate change, since it absorbs four times more carbon dioxide than trees while growing in just a fraction of the time.
We offer "70% ready to go" professional cannabis (incl. hemp) business plan templates, including pro forma financials with projections to answer the fundamental, and critical questions of how much money it will take to start your cannabis business and how much your 100% legally compliant cannabis business will make. We also have a range of cannabis pitch deck templates.
The idea for HempWorx came during a doctor’s office visit. Jenna Zwagil, co-founder, recounted how she was really sick. As the story goes, Jenna was diagnosed with celiac disease in 2014. She cut gluten from her diet, but she wasn’t feeling any better. While waiting for her appointment at the doctor’s office, she began reading an article on “the power of cannabis” on her phone, which was about treating autoimmune disorders using cannabis.
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A British pharmaceutical company is closer to getting its CBD medicine to the U.S. market with the government’s blessing, a first for the cannabis industry and potential game-changer for all marijuana and cannabidiol producers. A panel of government health advisers gave a unanimous recommendation Thursday to the U.S. Food and Drug Administration to approve Epidiolex, […]
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Eating chocolate, interestingly enough, is not the only common experience associated with the cannabinoid system. A study published in the Proceedings of the National Academy of Sciences in 2015 found that increased levels of oxytocin—a.k.a. “the love hormone” that enhances the bond between lovers—prompts the release of anandamide, which then acts on the cannabinoid receptors. This means the cannabinoid system also plays a role in the “love experience.”
With the federal government's full legalization of hemp, a previously marginalized industry is opening for free interstate commerce. What does that mean for entrepreneurs looking to get into the space, as well as those who could benefit from a wider availability of hemp-derived products? Here's a brief look at hemp's history in the U.S., as well as what its newly legalized status means for small businesses.
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HempWorx earns bonus points right out of the gate by choosing to use domestically grown, organic, and non-GMO hemp, and knocks it out of the park with their evident passion for educating the public on the uses, history, and science of cannabinoids. Fun facts (such as the fact that the first American flag was made out of hemp) add a rich critical thinking element to the customer’s experience. Instead of touting it as just another supplement, HempWorx gives homage to the long-standing legacy, magic, and controversy of the heralded cannabis plant.