The Bud of Hope, LLC is headquartered in Hagerstown, Maryland and functions as an E-commerce retail business with no plans to operate as a brick and mortar store front.
The Bud of Hope is retailing CBD THC-free operating under the requirements for all required license(s).
We want to market our own private label CBD products online, to retail clients across the United States as permitted by the governing laws of Maryland and those states where CBD sales are permitted, at a competitive price. Currently we are marketing all of the products under our suppliers retail brand.
The Bud of Hope operates 24 hours, 7 days a week as an online store. Our business model is to service online customers only.
All order and shipping provisions have been finalized; we are utilizing the Shopify retail portal for all orders. Products will be shipped from our locations in Hagerstown, Maryland and Ashburn, Virginia directly to each customer using trackable shipping through USPS and UPS with future global shipping utilizing DHL.
We own the domain name of
www.thebudofhope.com where any client can research any product before purchase and is designed to provide complete information about each product and the Cannabis/Hemp industry.
The Bud of Hope will ensure that all our customers are given first class treatment whenever they visit our online store. We use the embedded CRM in the Shopify platform that will enable us to manage one on one relationships with our customers no matter how large our customer base grows.
Our Products
Aside from the sales of CBD THC-free products, which is our core products; The Bud of Hope will always retail a wide range of products from one trusted and certified manufacturer/supplier for all orders.
Our Vision Statement
Our vision is to be a trusted source of CBD THC-free products for any adult client in the United States or worldwide.
Our Mission Statement
Our mission is to establish a first-class, organically grown, premium CBD THC-free products store that retails CBD THC-free products, from a top USA manufacturer at affordable prices to all online adult clients in the United States or worldwide.
Market Trends
The market trend in the CBD products business falls under and is directly influenced by the United States healthcare reform policies. The fact that the cannabis industry is regulated means that any entrepreneur who wants to run a CBD products dispensary business must be ready to play by the book or they will be fined and or terminated. Undoubtedly, the cannabis industry will continue to grow and become more profitable as more and more states adopt CBD which is projected to drive increasing demand for CBD products. Currently the experts are forecasting the CBD business to hit the $50 billion mark, more than doubling the forecast from 2 years ago.
Our Target Market
The Bud of Hope is in business to service a wide range of customers. We will ensure that we only target online customers, this is the most cost-effective way to market and sell these products.
Generally, those who want CBD products range from those suffering from severe pain, insomnia, anxiety, glaucoma, epilepsy, nausea, cancer, skin care and any other ailments that the physician or specialists deems the use of CBD products as beneficial.
The fact that The Bud of Hope is going to cater to a wide range of customers does not in any way stop us from demanding and screening requests as required by law.
Our customers can be categorized into the following categories:
• Households
• Corporate Executives
• Corporate work force
• Elderly
• Expectant Mothers
• Athletes
• Middle aged adults
• Those who may suffer from severe joint pains or any other category that falls under the conditions listed by the physician or specialist
Our Competitive Advantage
As in every business, there will be competition, however, we believe we possess several strengths that will allow us to always remain visible on the business radar. The brick and mortar or the retail store front industry is known to be highly competitive in the U.S and in most parts of the world. The retail store front is shrinking and there are several ways through which clients can get their products. There are alternative methods like, grocery chains, drug stores, mass merchant stores; these are the real competitors in the industry. These competitors ensure that they do all that lies within their power to gain a favorable market share of the available market in any given region.
In this industry, most of the competitive dynamics center around the quality of CBD products that are offered, other factors include the location where the dispensary/store, what discounts are offered for the products, and to some extent, the branding of the business; all of these play a significant role. Even though competition is growing in this new industry, especially from the big, well-backed corporations, smaller companies can still get their fair share of the market if they stay true to the competitive dynamics.
It is a fact, that small CBD products outlets will always struggle with larger CBD product retailers when it comes to pricing power and brand recognition; but it is our commitment to excellent customer service as well as competitive pricing, that we can secure a fair share of the available market.
The Bud of Hope is entering into the market prepared to favorably compete in the industry. Our plans utilize the online store through Shopify and is well positioned, highly visible using a contemporary web storefront; and as a Shopify retailer, the storefront is open and available 24 x 7 x 365 in all time zones. With utilizing Shopify storefront, we are set to handle small to large volumes of orders without having the costly overhead of multiple shifts of staff and zero brick and mortar overhead expenses.
Finally, The Bud of Hope has been approved and banks with a Colorado Credit Union that focuses 100% on the cannabis industry, we are accepting all major credit cards through our website. Also, we have been approved to market our store and products through Facebook, Instagram, Pinterest, and exploring Etsy.