The hemp industry is booming. Currently, there’s an unique mixture of established and newly formed marketplace competing against each other. As a result, more creativity is needed to get funding. The market is currently getting saturated with oils and lotions. It’s getting hard to stand out in the market place.
California and Colorado farmers are years ahead of most states when it comes to establishing a cannabis industry. Simply for the fact, they have been doing it for a longer. It makes it hard for the local TN Hemp farmer to compete with the internet savvy cannabis consumer. Especially since there are now established prices for hemp products. A small business owner may not have the marketing and production budget as a larger company. When you got stores like TJ Mac selling Hemp products, it means the plant is making its way into the general market.
Its hard for a local TN farmer to get to that manufacturing; because the state’s hemp pilot program only started 3 years ago. Initially, hemp farmers were ecstatic to grow the plant with the government’s support. There were 51 farmers licensed to grow Hemp pilot program in 2015. Once the crop was harvested, the farmers realized there wasn’t an established local Hemp market and there wasn’t a legal way they could utilize their crop to sell products. As a result, the number of licensed hemp farmers decreased in 2016. The state realized that farmers lacked the ability to utilize their crop for profit. And as of 2016, TN residents can apply for a license for processing hemp. You can apply for a TN hemp processing license in November until April.
In the meantime,it’s time to create and educate consumers on the hemp market place. There are a few local hemp farmers you can support like Tennessee Homegrown. They are doing their best to educate people on their state tested product. Their products Are worth checking out. Unfortunately, there are only a few places where you can get their products, Unless you order online. Whether it’s a small or big company, employees and company founders have started to realize that it’s hard to market the CBD ingredient to consumers because of federal laws and consumer’s uneducated opinion on the ingredient. Not every knows that hemp has a cannabanoid that doesn’t have the psychoactive properties like THC. California company, Q Lotion realized the struggle of marketing the CBD product across state lines, as a result they have created a lotion for pain that has CBD in it but you couldn’t tell by looking at it or smelling it. Which is great because the product does the work of Icy/Hot without the smell. Works brilliantly on my mosquito bites.
Who do you choose? A small business like TN Homegrown with a limited product selection or an established company like Cannaeo who has established themselves in the industry and produces a a variety of products like hemp BBQ sauce, anti-aging serum, and Bloody Mary mix just to name few. It all depends on you and me. Yes, There are numerous amount of factors that might influence the decision to purchase a hemp product. They are all worth trying out.
it’s important for you to educate yourself on hemp and the products the plant produces. (This blog can be your resource.)
while you are educating yourself, small businesses need to latch on to the support small business movement to compete with establish companies who are utlizing their budgets. The Hemp market is still new and it’s our time to make our mark.