CBD, Cannabis and Starting a Hemp Business: 5 Questions Answered
7 months ago · 3 minute read
The cannabis industry is red hot. As medicinal and recreational laws continue to open up access to products, consumers are curious. And so are entrepreneurs. It seems like everyone knows someone who’s jumping into the world of weed, CBD and hemp.
At the Opt Out Life, we’ve told the story of two entrepreneurs out of Colorado with a popular hemp oil brand called Ned. You can listen to their full episode here.
It’s been 6 months since we first met Adriaan and Ret, and the industry hasn’t slowed down at all.
Because so much of our community is curious about this industry, we sat down for a follow up with the boys from Ned to get some more answers. Here’s what they told us.
(Before we got any further, we should mentioned Ned is offering all Opt Out Life followers a 15% discount on any order of their products, shipped to all 50 states. Simply go to helloned.com/optout or enter the code “OPTOUT” at purchase to save your 15%!)
Let’s first talk from the consumer side.
Q: You guys sell a premium product dubbed “full spectrum hemp oil”. Is that different than CBD?
Adriaan from Ned: “It’s CBD and then some! CBD is the major compound in Ned Full Spectrum Hemp Oil at roughly 85% as it naturally occurs in the hemp plant. However, CBD is only a single compound found in the hemp plant. We call our product Full Spectrum Hemp Oil because the hemp plant consists of numerous cannabinoids beyond CBD like CBC, CBG and trace amounts of THC, all of which carry their own distinct healing benefits.
Our oil also carries terpenes and trichomes in addition to the cannabinoids. All of these together enable what’s known as the ‘entourage effect’ – resulting in CBD and the others to achieve maximum impact. CBD on its own has to be isolated in a lab with a chemical process and is nowhere near as impactful.
Secondly, hemp companies are not supposed to call the products CBD due to FDA regulations. CBD, as it’s named, is now an ingredient in an FDA approved pharmaceutical, which prohibits other companies from marketing their products as CBD (on their labels). All those companies that do, are actually in violation of FDA compliance.”
Q: My grandma is dismissive of CBD because she thinks it’s cannabis. Does CBD/hemp get you high?
Adriaan from Ned: “No. CBD is the major psychoactive compound in the hemp plant. It will not get you high, nor will the trace amounts of THC in Full Spectrum Hemp Oil.”
Q: I’ve seen a lot of articles touting claims of the health benefits of CBD. What are your comments about the misconceptions that it’s a miracle plant for wellness?
Adriaan from Ned: “While the cannabis sativa plant is incredible, it’s not a silver bullet solution to all our worries and pains. It’s important to take a wholistic approach to your health and well being, which includes nutrition, movement, and (we believe) a deeper connection to the natural world.”
Now, let’s shift and talk about the entrepreneur side of the equation.
Q: This space is so hot. Is it a good way to make an easy buck?
Adriaan from Ned: “Most definitely not. While the industry has exploded, there are endless pitfalls from banking, marketing restrictions, to agricultural variance. If you think you can enter the space to make a quick buck, be prepared for a rough ride.”
Q: Legally, did the 2018 Farm Bill has give the industry “carte blanche” to market and sell like any other product?
Adriaan from Ned: “Wrong again. The Farm Bill has made hemp derived products that fall below 0.3% legal, but the FDA has yet to make a statement on its position of CBD and multiple cities have started to clamp down on CBD’s use as a food additive. Banks are still shy of processing credit cards for the space and there are plenty of regulations to navigate.”
For more on Ned, check them out on Instagram. Say you heard about them on the Opt Out Life!