How To Start A Business Plan For Hemp Farming

Recently licensed the sale of business plan for hemp farming products in the US, there are already some companies operating in the area. Yet this is a difficult market, where you have to distinguish between hemp and cannabis. Unlike cannabis, hemp has very low levels of THC (the active principle of cannabis). Marketing hemp is therefore safe. As for cannabis, it needs special authorizations from the informed, since it is allowed to be used, but only for medicinal purposes.

In any area of business plan for hemp farming, it is difficult to find consumers, but this is even more true in the area of hemp farming products. It is a very competitive market, where new brands appear every day. To be successful, new brands must be able to differentiate themselves.

• A MATTER OF EDUCATION

There are a number of misunderstandings about the consumption of cannabis for medicinal purposes, much because there have always been antibodies from society to this substance.

We know that cannabis and marijuana consumers are the minority. That is why it is necessary to educate the general public about this new reality. Eventually, cannabis use will be legalized to the point where it is normal to consume, such as tobacco or alcohol. But until then brands need to understand the motivations of their audiences and the general public.

IDENTIFYING THE TARGET AUDIENCE OF HEMP FARMING PRODUCTS

Understanding and identifying the consumer goes far beyond understanding who you are, and how to develop appropriate content in terms of advertising for example. In the cannabis market, for example, it is necessary to understand the expectations of those who consume: if it is for leisure if it is for medicinal purposes. Consumers have different goals. But the perspective should always be pedagogical, that is, guiding consumers through myths and legends about hemp farming products, offering a real and pragmatic perspective on the expected effects. A disillusioned consumer doesn’t come back twice.

The consumer has many options with regard to the type of consumption, for example, dry flower, concentrate, oil, or the best-known hash. Within all these categories there are more than 700 different product types, and many new ones appear every day. To further confuse the consumer, the accessories available to consume, store, and prepare hemp farming products are also increasing.

Given the abundance of possibilities and components related to product creation, a company can benefit from the use of software and data analysis to determine what type of products will be profitable and popular with consumers. Just for example see the list of best-selling hemp farming products on amazon. With available data, you’ll be able to target each of the products in concrete terms and develop more effective marketing campaigns for each of the segments.

LEGISLATION

Law No. 33/2018 of 18 July established the legal framework for the use of medicines, preparations and substances based on the cannabis plant for medicinal purposes, namely its prescription and dispensation in pharmacy, and Decree-Law No. 8/2019, of January 15, proceeded to its regulation.

The purpose of this legal framework was to make treatment with medicines, preparations, and substances based on the business plan for hemp farming plant accessible by ensuring:

• That the preparations made available meet all the necessary requirements with regard to demonstrating their quality and safety, thereby contributing to the safeguarding and protection of public health and
• prevention of the misuse of medicines, preparations, and substances based on the cannabis plant in accordance with the United Nations Convention against illicit trafficking in narcotic drugs and psychotropic substances.

Conclusion

Thus, the business plan for hemp farming the entire production chain, from the cultivation of the plant to its preparation and distribution, is known and controlled, being possible to ensure that the products are produced according to all the good practices.

And avoidable risks, preventing their misuse and limiting their use to cases where conventional treatments have not produced the expected effects or caused relevant adverse effects.

The use of these products depends on the clinical evaluation, made by the doctor, in view of the approved therapeutic indications.

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