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What You Need to Know About How CBD Businesses Operate

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What You Need to Know About How CBD Businesses Operate

Many people throughout the United States have decided that working for other people isn’t for them. They’ve stepped out on their own and started a business, which contributed to the economic fabric of the United States. Small businesses are the bedrock of much of the U.S. economic field, as these entrepreneurs contribute to the U.S. economy on many different levels. Small businesses provide employment opportunities for United States citizens, drive innovation, and provide competitiveness amongst other businesses in their respective fields. Lastly, small businesses generate approximately 50 percent of the the United States’ gross domestic product (GDP).

 

One area in which small businesses have seen a significant rise within recent years includes the cannabidiol (CBD) industry. CBD oil and other hemp-derived CBD products sales are expected to increase from $516.3 million in 2020 to approximately $2.5 billion by 2025. This includes products like cannabidiol treats, chews, CBD oil, capsules, and even topical ointments or creams. For any enterprising new businessperson in the U.S., the CBD industry is one that requires some attention. Before moving into this business arena, it helps to know a bit about what is needed to operate a CBD business. Check out some of our selections below.

Plan your business.

You need a plan when starting any business. Having a clear plan can hopefully lead you to success as you jump into the business of selling CBD products. As a part of building this plan consider a few things. First, what will your startup and ongoing costs be for starting such a business? Next, try to figure out who your target market will be. For example, will you focus on people who only like CBD oil? Or do you want to focus on the CBD treats customer base? Maybe you should bundle CBD oil with treats or tinctures to reach a wider audience. Also, determine what your price points will be for the CBD product that you will be selling. With pricing such items will you offer discounts on these CBD products? For example, some businesses like Nuleaf Naturals CBD Oil have found success with offering customers a Nuleaf Naturals coupon or Nuleaf Naturals coupon codes for their products.

 

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You’ll have to factor into your business plan how such discounts can benefit your CBD product business. Lastly, figure out what your profits will need to be. You need to find out how much money you should be pulling in for selling items like CBD oil, CBD chews, or CBD topical ointments. You don’t want to continue to just be “breaking even” when it comes to your business. Ensuring that your business plan incorporates all of these factors will be needed to successfully operate a CBD business.

Invest in the right technology.

 

When you begin your cannabidiol business, you want to make sure that your business’s technology is up to par for your money-making purposes. For example, let’s say you’re running a CBD oil storefront. You offer such hemp plant-inspired items as CBD oil and CBD tinctures. For this store, you’ll need a technologically adept security camera system, the best salesforce CPQ system around, a personal security service for your store, mobile technology, and offsite data storage. When you keep in step with the latest technological advances in your industry, you’ll have better success as a business enterprise. Having this type of technology is a must-have for operating a CBD business.

Open up a business bank account and credit card.

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All small businesses require a bank account. Having a dedicated bank account is one of many business requirements when starting your CBD business. You don’t want to mix your income from your CBD company with your personal bank account. Keep your business finances indicated in invoices, corporate billing, and profits raised separate from your individual bank accounts. This can be extremely helpful in the case that your business is sued. This way your personal finances won’t be affected.

 

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Also, look into applying for a business credit card. This can possibly lead to better interest rates, improved credit scores, and higher lines of credit which you can use for purchasing store products. Having a line of credit to invest in purchasing additional CBD products for your store can benefit you in the long run. Setting up a business bank account and a business credit card are two ways to ensure that you will properly operate your CBD company.

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Celebrating 25 Years: Otumfuo Osei Tutu II’s Reign

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Celebrating 25 Years: Otumfuo Osei Tutu II's Reign

Today marks the 25th anniversary of Otumfuo Osei Tutu II’s reign as the Asantehene, the King of the Ashanti Kingdom.

The celebrations, which began with spectacular fireworks witnessed by Otumfuo himself, will culminate in the Silver Jubilee anniversary on Akwasidaekese on June 12 at Dwabrem, Manhyia Palace.

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This milestone is a testament to Otumfuo’s impactful leadership, dedication to the Asante people, and contributions to education and research as the Chancellor of KNUST.

The event is being celebrated across Ghana, with well-wishes and congratulations pouring in from various quarters, highlighting the significance of this occasion for Asanteman and Ghana as a whole.

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Mr. Beast in Ghana: Surprising Visit Sparks Excitement

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Mr. Beast

World-renowned YouTuber Mr. Beast, known for his philanthropic acts, has been spotted in Ghana, specifically in Accra and Tema, sparking excitement among locals.

His visit has led to discussions about his choice of Ghana over other African countries, with some suggesting that the country’s popularity as a tourist destination played a role.

Mr. Beast’s presence in Ghana is part of his global outreach, as he recently gifted a Ghanaian $25,000 as part of his X (Twitter) giveaway.

Read Also: Producers of 'Beast of No Nation' return to filming in Ghana, causing upset in parliament

The YouTuber has been seen exploring the country and interacting with locals, with many expressing their desire to meet him and participate in his charitable endeavors.

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Stephen Appiah to contest John Dumelo and Lydia Alhassan in MP race for Ayawaso West Wuogon

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Stephen Appiah to contest John Dumelo and Lydia Alhassan

Former Black Stars captain Stephen Appiah is set to enter the political fray by rubbing shoulders with notable personalities in the upcoming general elections.

The former Juventus midfielder is believed to be lacing his boots to face the likes of John Dumelo and the incumbent member of Parliament for the Ayawaso West Wuogon Constituency Lydia Alhassan.

While Dumelo and Alhassan represents the NDC and NPP respectively, Appiah is expected feature in the elections as an independent candidate.

This was revealed by the Spokesperson of the Ayew family Fiifi Tackie via X on Friday afternoon.

“Stephen Appiah to contest Ayawaso West Wuogon constituency as an independent Parliamentary candidate,” he wrote.

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If Stephen Appiah affirms the reported news, he will be following in the footsteps of other renowned figures in Ghana football who have indulged in politics recently.

Earlier this year, all-time top scorer of the Black Stars Asamoah Gyan was appointed as the sub-committee chair of Youth and Sports in the campaign committee of Dr Bawumia, the flagbearer of the ruling New Patriotic Party.

In acceptance of the appointment, Gyan emphasised the need to share hos ideas garnered through experience in the game.

Anas took $100,000 to stop documentary release – Kwesi Nyantakyi
‘I have enough experience to contribute to sports – Asamoah Gyan reacts to political appointment
“I always ask myself, how do we create change if we don’t want to change? How do we spectate without being on the bench, and how do we score without being on the field?… All I know and will ever know, all I love and will ever love is SPORTS.” he stated.

Another figure in Ghana football who recently announced his intention to engage in partisan politics is Kwesi Nyantakyi, former Ghana Football Association (GFA).

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The former football administrator showed up as one of the candidates to contest in the NPP primaries for the Ejisu constituency following the demise of incumbent John Kumah.

However, it didn’t pan out well for the former Wa All Stars owner as he lost disappointingly.

He garnered a paltry 35 votes after close to 1,081 delegates had cast their votes in the parliamentary primary of the New Patriotic Party (NPP) held in the Ejisu Constituency on April 13.

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Rebecca Osam: A Champion for Women’s Empowerment in Africa

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In a heartfelt social media post, Rebecca Osam, Managing Director of Reflo Company Limited, Reflo’s TV, and Femme Fatale Productions Limited, has pledged her full commitment to empowering young women.

Rebecca expressed her desire to move beyond mere inspiration and instead build a deeper connection with young women, offering guidance and support to help them achieve their goals.

Her passion for women’s empowerment stems from her experiences growing up in Africa, where she witnessed firsthand the oppression and lack of opportunities faced by women. This drove her to co-found The Florence Mensah Foundation with her mother, aiming to empower African women and girls, and encourage them to recognise their worth, strength, and potential.

Through her foundation and personal endeavors, Rebecca seeks to provide a supportive platform for young women to thrive. She aims to be a relatable figure, offering mentorship and encouragement to help them overcome challenges and achieve success on their own terms.

Rebecca’s dedication to empowering young women proves her leadership and commitment to creating positive change in her community. Her efforts serve as an inspiration to others, highlighting the impact one person can have in driving gender equality and women’s empowerment.

As Rebecca continues her work, her message resonates with young women across Africa: “Anything is possible, and I am here to support and cheer you on every step of the way.”

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Caradise Ghana Car Rental Facilitates Transportation for Global Christian Forum held in Accra

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Caradise Ghana Car Rental has once again successfully facilitated the transportation of over 240 participants from 60 countries across the globe for the recently ended Global Christian Forum in Accra, Ghana.

Numerous buses hauled the various participants from the Airport to their designated hotels from the 12th to 15th of April, 2024. Participants were then transported from their hotels to the conference grounds daily for the gathering of devoted Christians from the 16th to the 19th of April, 2024.

The forum began with a vibrant, joyful worship service held at Accra Ridge Church. The Rev. Dr. Casely Essamuah welcomed participants to Ghana and to the Fourth Global Gathering, and participants spent the day sharing their faith stories with one another across the litany of differences represented. 

The forum was climaxed with a dinner and 25th anniversary celebration at the Action Chapel Internation Church hosted by Archbishop Nicholas Duncan-Williams.

After the forum, the participants took the opportunity to visit the Kwame Nkrumah Memorial Park and Mausoleum where they learnt about the great Pan-Africanist, Osagyefo Dr. Kwame Nkrumah and Ghana’s journey to inpendence.

The participants also spent a day in Cape Coast where they learnt about the millions of enslaved, dehumanised African men, women, and children at the Cape Coast Castle. Witnessing first hand how Africans were forcibly taken captive to the Americas, Caribbean, and Europe as objects of lucrative trade.

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DJ Khaled Announces Second Annual We The Best Foundation Golf Classic On June 12 & 13 in Miami Beach !

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GRAMMY® Award-winning, global megastar DJ Khaled proudly announces the return of his annual WE THE BEST FOUNDATION GOLF CLASSIC for the second year in a row.

For 2024, the mega-popular charity event expands to two days on Wednesday June 12 and Thursday June 13 in Miami, FL. Given the demand by countless superstar artists, A-list athletes, and entertainers to participate, he needed to stretch the proceedings over two days!

Once again, the event will be sponsored by Jordan Brand, and all proceeds support the We The Best Foundationand its numerous efforts to bolster education. Stay tuned for the multitude of exciting confirmed guests, and more.

Khaled created a cultural groundswell and personally appeared on ESPN’s SPORTSCENTER to break the news of the second installment of the WE THE BEST FOUNDATION GOLF CLASSIC today. Watch HERE.

Regarding the return of the WE THE BEST FOUNDATION GOLF CLASSIC, he commented, “Last year, the WE THE BEST FOUNDATION GOLF CLASSIC brought out so many friends and family to make a difference, play some great golf, and have an incredible day for a great cause. This year, we’re going even bigger, and we thank everyone for their continued support. TEE UP AND BLESS UP!”

Last year, the inaugural WE THE BEST FOUNDATION GOLF CLASSIC hosted Serena Williams, pro golfers Michael Block and Bubba Watson, Odell Beckham, JR., Shannon Sharpe, Victor Cruz, Jalen Rose, Terrell Owens, Marcus Jordan, Jeezy, Quavo, The-Dream, Swizz Beatz, Timbaland, Fat Joe, Cedric The Entertainer, Joey Fatone, and more. The foundation raised over $500,000 which benefited the enrichment of children and youth through educational programming, scholarships, and extracurricular activities.

More guests and partners for 2024 will be unveiled soon.

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