Perhaps you have heard about the benefits of CBD products and you want to create your own CBD business. Maybe you have used CBD products and have seen, first-hand, how they can change the lives of people (or pets) dealing with common problems like pain, anxiety, and sleep.
Or perhaps, even, you have heard some of the hype about the CBD industry’s estimated growth from $600 million to $22 billion by 2022.
You may be asking yourself, “I believe in the value of CBD. But how can I grow a CBD business that is profitable and sustains in the long term?”
One answer to that question is building a multi-level marketing (MLM) business that sells CBD products.
Before the red flags and horror stories of pressuring friends and family take you out, consider that the MLM industry you have been exposed to and the MLM industry that exists today are two separate things. For example, those awkward calls to your brother or your best friend from high school are a thing of the past, thanks to the internet.
Let’s explore the topics of CBD and the MLM industry, and how building your CBD business as an MLM could in fact be the move you are looking for. To do that, we must first look at how an MLM operates in today’s world, its benefits as a business model, and how you can generate passive income with automated tools.
Benefits Of An MLM
As there are multiple types of businesses, running your CBD business through an MLM may be a choice you’d like to consider. Let’s take a look at the benefits of the structure of an MLM.
- Low start-up cost: Usually, an MLM will have an initial, one-time fee to get started, with a monthly membership fee or promise to re-stock your inventory. The initial fee is normally in the few-hundred-dollar range. In comparison to a brick-and-mortar CBD retail store, which with rent, insurance, technology equipment, advertising, signage, interior decor, and professional services can cost in the tens of thousands of dollars, the initial fee to start an MLM is small.
- You are your own boss: Simply put, you call the shots. Without the expense of hiring employees looming over your head, you can re-invest your earnings or pay yourself earlier.
- Opportunity for passive income: Consider Bruno Mars, who writes a song once, then collects royalties every time that song is played from then on. Similarly, with your CBD business as an MLM, you will get paid for work you’ve done in the past. That means instead of trading dollars for hours with a salaried or hourly position, you can continue earning money regardless of if you work today with the concept of passive income. This isn’t to say that getting to this point is easy to do; if it was, everyone would be doing it. However, it is possible. As a network marketer, I have grown my business to the point of generating passive income and helping others achieve their financial and well-being goals.
- Unlimited income potential: Unlike a salaried or hourly position, with an MLM you are in a compensation plan with no ceiling. With the Top 200 Income Earners in MLM companies all making passive income north of $1,000,000 per year, there is no cap on income potential. Goals like a few thousand dollars per month to pay your bills and provide discretionary income are achievable with hard work and dedication. Nothing worthwhile in life is easy.
- No education requirements: One barrier that is very real for a lot of people is education. They can’t make more money than they do because they need certifications or a degree. The average four-year degree will cost between $35,000 and $140,000. With an MLM, there are no education requirements.
- Automate your MLM business: As stated, today’s MLM industry is vastly different than that of traditional ideas of Amway and bugging people you love (or being the one being bugged, for that matter). How? Through automation. By employing methods such as pre-enrollment, sales funnels, and email response systems, you can flip the script. That is, pre-qualified leads will come to you. Gone are the days of nervousness and landlines being land mines.
- Constant training and development: While running your CBD business as an MLM, there are very often regional and national events where you are trained by the founders and top performers of your company. There is much to be learned from them. Furthermore, large repositories of free training in the form of audio and video exist to empower and enable you to reach your personal goals, financially or otherwise.
- Tax deductions: If running your CBD business online, consider a few of these common tax deductions you can claim in part on your tax return: wireless internet, your computer, your mobile device, and any travel expenses related to your business.
Benefits Of A CBD Business
In addition to the benefits of an MLM, CBD has a number of benefits in and of itself, which is why the industry is currently in the stage of growth that it’s in. Let’s have a look at the benefits of CBD products and the sorts of issues they help to address.
- Anxiety: CBD can calm the mind and body. Oftentimes, people can suffer from anxiety, such as obsessive thinking, fear in public, on airplanes, in vehicles, speaking in front of others, or even reliving traumatic experiences. CBD has been known to slow down the mind and relieve the effects of anxiety.
- Sleep: The relaxing effect of CBD can help people sleep. With roughly 60 million people in the U.S. suffering from sleep-related health issues, the market for helping people getting sufficient shut-eye is large. Your impact is tangible, especially given how coveted sleep is for human beings.
- Chronic pain: Similarly, around 50 million people in the U.S. suffer from chronic pain, with 40% of them having high-impact chronic pain, which severely impacts life and work activities. Users of CBD often report relief from pain.
- For athletes: Whether it’s pain, the frequency of travel, or the nerves of performing at a high level, athletes can use CBD for a variety of reasons.
- For pets: Just like their human counterparts, pets can get nervous. Personalities, types of breeds, and past experiences can play a role in the quality of life of pets, and CBD can help in this regard.
How Growing Your CBD Business As An MLM Is Smart
Now that we have covered the benefits of the MLM industry and CBD products, we can finally delve into the reasons why combining the two may be a smart idea.
- CBD is on-trend: When the wave of momentum is strongest, the buzz of a community is too. As such, since MLM is about teams, mentors, and learning from one another, CBD and its current state of hype makes it a viable option for using an MLM to start your business.
- Done for you: There are already plug-and-play CBD MLM’s such as Hempworx that have invested hundreds of thousands of dollars into products, shipment, websites, and research. With features like auto-ship and warehouses of inventory, all you need to do is plug in and leverage what’s already been done.
- CBD is a recurring expense: Since your CBD business is centered around generating revenue, the fact that users of CBD must replenish their supplies plays into your favor. This means that customers with whom you grow your reputation and trust will become repeat buyers with you. This is a cornerstone in any solid and long-lasting business.
- CBD has a wide audience range: Given the range of problems that CBD can help solve, such as sleep, pain, and anxiety, the number of people you can help means that the number of people who can join your business or buy from your MLM store is equally as large.
As such, we covered the benefits of MLM’s, CBD, and why running your CBD business as an MLM may be a smart move. CBD is here to stay, and the results of the products speak for themselves.
What’s more, the MLM industry has evolved into a business model that can leverage the beauty of the internet and automation to grow your revenue without having to annoy relatives and friends. I’ve used this process, as an introvert myself, to generate passive income for myself and for others, and now it’s my full-time job.
If this is something you may be interested in, feel free to take a tour of Hempworx. Also, consider continuing your research into this topic of your CBD business. Knowledge is power.
Thanks for reading!