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cbdMD LLC |
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February 18, 2019 Issue |
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CEOCFO MAGAZINE |
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cbdMD LLC is bringing to market pure Hemp CBD Oil products that are THC free, broad-spectrum, Gluten Free, No-GMO, US Grown, Organic and Vegan |
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Co-Founder & CEO cbdMD LLC
Interview conducted by: Lynn Fosse, Senior Editor, CEOCFO Magazine, Published – February 18, 2019
CEOCFO: Mr. Coffman, what is the idea behind cbdMD, LLC? Mr. Coffman: We were looking to enter the CBD industry for a couple of years. After testing the product, we realized that CBD is an excellent substitute for other medications dealing with pain – and it’s safe. You cannot overdose on CBD and it does not have an addiction parameter to it. When we saw all of the benefits CBD had on the painkillers, opioids market, we realized that this is the perfect time to market a product with all-natural benefits and try to get in early to get as much market share and get our brand there as soon as possible. Therefore, we set up our lab to manufacture our own THC-free products, and we have had great success so far.
Mr. Coffman: We offer a full range of products – something for everyone. We offer capsules, gummies; we also offer tinctures, which are probably the most popular. It is usually a thirty-milliliter bottle, and you just use a tincture dropper and put it under your tongue for about 60 seconds. As for the other products that we manufacture, we do topicals – one similar to Biofreeze – our CBD Freeze – that are the roll-ons, our Inflammation Formula Recover that has high concentrations of CBD in it, and is great for pain. We have a few new products coming soon – a new sleep aid product: CBD PM. Then we also have transdermal patches coming out. If you do not want to take your CBD via a pill or tincture, you can put a patch directly on the inflamed area. We have bath bombs that are great for relaxation, and a full line of the same type of products for pets; tinctures to put in their mouths or on their dog food and then a lot of CBD treats for dogs.
CEOCFO: How do you help a customer understand what might be right for them or at least right for them to try initially? Mr. Coffman: We keep a full customer service staff here with proactive chat on our website to answer their questions. We are not really allowed to make claims on what CBD can and cannot do, but anytime we can talk to them we ask them what seems to be their problem and explain the milligram dosages because we sell everything from a 300 milligram to a 3,000 milligram, and where they should start. They should probably start a little bit lower, so they can take it twice a day. We explain to our customers that CBD is similar to taking your daily vitamins. In other words, regularly taking CBD will increase its potential to help with pain, inflammation, anxiety, and sleeplessness. It really needs to get into your system, so in a sense, you really need to give it three weeks to truly start to see the benefit and the longer you take it, the more benefit you’ll get. Therefore, our policy with most people is saying, “It doesn’t necessarily have immediate effects as if you were just taking a prescription pain pill, but after three weeks or so of having it in your system, it’s going to relieve your pain. And the longer you take it, the better it is for you which is completely the opposite of all the other pills that you are taking.” We place a strong focus on educating our customers and the general public by explaining the origin of our CBD that comes from industrial hemp. Industrial hemp is from the plant species Cannabis sativa; it is cannabis, but it’s not marijuana-based cannabis because of its low THC content. Our products do not contain THC – so you won’t get “high”. It is just so you feel secure about what the actual starting product is or that plant that we start from [in the beginning].
Mr. Coffman: As with all things, people can be skeptical when they don’t have all of the facts. In today’s world, it has always been that a synthetic drug can solve your problems. If you have pain, take this, if you have anxiety, take that. With CBD, you sort of have that connotation that, “Oh, CBD comes from a plant,” and people seem to be skeptical about that because, in the beginning, everyone assumed that CBD comes from the marijuana plant, so they think CBD will have the same mind-altering effects. Therefore, we have to get them away from that concept. Many people just do not believe that something that is not a synthetic chemical drug can actually work for them. Because so many Americans are so used to taking something, whether it is anything from Advil to pain pills, they basically know that they take it and, in an hour or so, they are going to feel the difference even though you have got to take another one the next day. They are really skeptical that something not made by a large pharmaceutical company can actually have a benefit they want - but CBD does.
CEOCFO: Would you tell us about the products for animals and how we know that they work? Mr. Coffman: cbdMD uses the same high quality, human grade CBD for our animal products that we use for our human products. The only difference is that we change the flavoring. We have a catnip flavor for cats, a peanut butter flavor for dogs, and even an apple flavor for horses. Our customers see positive benefits from taking CBD regularly, and they trust our products with their pets. Most of our pet-specific customers use our products because they are witnessing a member of their family age – their dog is a little bit older and a little stiffer, does not run as he used to or he has got some pain or something like that. People are very observant of their pets, so they know when their animal is in pain or isn’t acting the way they used to. We believe in our product, and CBD in general, but it works differently on a case-by-case basis, so it’s important to monitor the effects on yourself and your pets.
We are seeing a real boom of CBD for animals, both in tinctures and treats – we just simply cannot keep them on the shelves. There is not much out there that you can give animals as much as you can provide for people – and people love their pets. Therefore, it is a great way to be able to have a new solution that our customers can try for their animals that are in pain. Animals cannot tell you, but most animal people are very intuitive to their own animals, and they can tell over a period of time if they believe it helps them or not.
CEOCFO: Do you find that many people buy your “Companion box for you and your pet?” Mr. Coffman: We do! It’s a great product offering for people and their companions. We initially launched this product on Instagram and had our influencers like Nala Cat and some of the most viral Instagram pets post as well – it’s a great introduction to our pet line for our customers that already use and trust our other product offerings for themselves! We know that people are picky when it comes to products for their animals, so if they trust the products they use for themselves, they’ll believe in using it for them as well. And what we found when we linked up with these social media influencers that so many people bought the products for themselves and were interested in providing their animals with the same relief. So, we started the “Companion box” to offer a product for everyone in the family.
CEOCFO: Would you tell us about American hemp? Mr. Coffman: Most of the hemp, right before we got into the business, all came from outside of the US because we were not allowed to grow it on US soil. Even today, there are only a few states like California, Oregon, Colorado, Kentucky, and South Carolina all passing laws to legalize growth, but we felt much more comfortable utilizing the American farmers based on the strict growing and production guidelines we follow in America. We knew that once they had the opportunity to grow it that this was going to be the purest and best hemp products. With an extremely high focus on quality, we took to the American farmers to ensure we started with an organic product that could be shaped to provide relief to a multitude of ailments. Choosing to work with American farmers, we try to support the farms that are local here and the States that are growing it and also try to help defend it so that the government will let more States grow it and let farmers see how profitable it can be. The US has such great land for growing products. Also, we know that the more they grow, the better they will get at exactly what they are doing.
CEOCFO: Is the public recognizing or perhaps growing to recognize the importance of buying American, gluten free, organic, vegan, and non-GMO? Mr. Coffman: Yes, many Americans are looking to maintain a healthy lifestyle – and that includes understanding and watching what they put into their bodies. cbdMD prides itself on offering products for everyone – for the masses – so that means removing or not including additives that many people have sensitivities to [consuming]. We do not use any animal by-products and ensure that our farms are using nothing but the best, organic, vegan and non-GMO hemp to produce our products. As people continue to look for a healthier solution to their pain problems, it is really important for us to educate our consumers about the quality of our products and the fact that they are pure CBD without all the additives.
CEOCFO: What is the competitive landscape? Mr. Coffman: To be honest with you, in our market, it seems to be a gold rush, like most emerging industries. However, the great thing about a market like this is that although everyone is jumping in, there are not a lot of recognizable brands. We have made branding and trying to get our name out into the public a priority – not only to increase revenue but to also educate the public. With most arising industries, only a few companies will dominate - whether there are 300 companies or 1,000, it is still going to end up going to the top companies in the end – that’s our goal.
CEOCFO: Would you explain broad-spectrum and why that is what you are providing? Mr. Coffman: Broad-spectrum simply means that we are preserving and extracting the other beneficial ingredients from the hemp plant, not just the CBD. These valuable compounds and terpenes work alongside, and in conjunction with, CBD to provide the desired relief. Instead of adding synthetic additives to our products, we include what Mother Nature has already provided us.
CEOCFO: What is your growth strategy for the next year or so? Mr. Coffman: Right now, our goal is to grow 20% a month and then basically build a brand that is very strong in the e-commerce market. Everyone is going to have to [go] retail and so will we, but we think this product is a great online product for a couple of reasons – (1) it is kind of a recurring product. CBD; yes you take it, it will work, but it is one of those products that you need to keep taking all the time to get the most benefit, and (2) it is just much easier, we think. In a lot of the instances, you can get it shipped to your house in a reoccurring scenario where it comes every month or every 30-40 to days. We will continue to educate as many people as we can about the beneficial properties of CBD and hope that we can turn them into customers, and into recurring customers. Long term, we’d like to introduce CBD to markets and regions of the world that it’s currently not available.
CEOCFO: Ambitious! Mr. Coffman: Yes!
CEOCFO: Why pay attention to cbdMD today? Mr. Coffman: That is the perfect question! When you think of cbdMD, if you look at our product and compare it to our pricing, we are hands down the best value for our high quality, pure CBD. Not to say we are the absolute cheapest, but the concentrations and purity of our CBD will give you the most bang for your buck. We basically try to provide the greatest value for the whole line of products that we can. We try to support that with excellent customer service and a continued effort to put our money back into educating consumers about CBD. Just as anyone would do, we are trying to educate the consumer on our brand and the brands you can trust, which means that we need to put our name out there, we need to be in the community, and we need to reinvest our money into what we are doing. If you go to our website, we have a price comparison with the top brands, so you can see where the value is and make your own decisions.
We are the official founders of National Hemp Day, which was February 4th, as well as the founders of National CBD Day – August 8th. |
“Choosing to work with American farmers, we try to support the farms that are local here and the States that are growing it and also try to help defend it so that the government will let more States grow it and let farmers see how profitable it can be.”- Scott Coffman
cbdMD LLC
Contact: Danielle Crary 1 (800) 973-3984
cbdMD, Leader in the CBD Industry, Launches New CBD Oil Vape Brand
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Scott
Coffman
CEOCFO: Would you tell us a little
bit about the range of products and the differences between the various
types?
CEOCFO: Are people skeptical?