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Age Verifier opens up the possibility to get into the automated retail business
CBD sales in the U.S. hit $4.6 billion in 2020, a massive number just two years after hemp-derived cannabinoids were federally legalized. This growth is only expected to accelerate, with two notable forecasts projecting a U.S. market of $15 billion to more than $20 billion by 2025 and 2024, respectively.
Despite being federally legal, I've observed that CBD companies still have problems obtaining capital and standard services from banks and other financial services institutions. And the ability to market CBD as a safe and effective substance is limited by how the FDA classifies it.
Ultimately, the U.S. Congress has the authority to address these issues, and there is current legislation aiming to do just that, such as the Safe Banking Act of 2021, the Hemp and Hemp-Derived CBD Consumer Protection and Market Stabilization Act of 2021 and the Hemp Access and Consumer Safety Act. Crucially, those last two pieces of legislation would pave the way for the FDA to authorize marketing CBD as a dietary supplement. This development will open up many forbidden or restricted marketing and distribution channels, leading to greater sales and brand exposure.
When the seed investment round is closed, the team plans start in Florida deploying own vending machines into the field and sell high margin products such as CBD gummies, CBD vapes, CBD cookies and CBD oils. Investments affords the team to deploy 500 automated retail stationes including Age Verifiers, finalize the developments and become profitable company in 2 years.
Vending business opens up new vertical for additional cash flow
