Written by Ι Stock Market Media — August 26, 2019
New York, NY — Tech Central, Inc. (OTC Markets: TCHC) entered the CBD market this year (2019) with an aggressive approach that not only included launching its own CBD products, but also includes helping burgeoning businesses build their exclusive CBD brand in the industry as well.
In just a few short months, the company has announced the development of its “CBD Affiliate Marketer” app, launched its “Better Mind CBD” line of products, created a white-label division as part of the Better Mind CBD business for customers who are interested in creating their very own CBD brand, and just this month, Tech Central announced that it has entered into a new retail partnership for its CBD line.
One look at the explosive growth around the world in the legal cannabis industry and it’s pretty clear why Tech Central is aggressively navigating its way into this space. One key driver that company executives have identified for the rapid growth is the signing of the 2018 Farm Bill. Additionally, another driver of note is the growing number of countries that are decriminalizing cannabis and legalizing the use of marijuana for both medical and recreational uses, which has broadened the industry quickly on the worldwide stage.
A number of industry experts and research firms have weighed in on the cannabis market’s growth and its effect on sales in the U.S. and abroad. Hemp-derived cannabidiol (CBD) alone could become a $22-billion market by 2022, according to Brightfield Group, while the marijuana market could one day reach $166 billion in annual sales, according to Bank of America.
In this arena, Tech Central is creating a “one-stop shop” of sorts for clients while creating what is an obvious “start-to-finish solution” for both itself and for any new businesses that have an interest in entering the extremely popular CBD industry.
First, let’s look at the company’s most recent news. Joseph Lewis, President of Tech Central, stated that his company has entered into a partnership and received a purchase order from Mountain High Products, Inc. According to the terms of the deal, Mountain High Products will distribute Tech Central’s Better Mind CBD products at several retail outlets. This is certainly great news for a company that just announced the launch of its CBD products in early July, so already having a retail partnership speaks loudly of the company’s commitment to hit the ground running in this industry.
Second, the company’s Better Mind CBD (www.bettermindcbd.com) products, which are already gaining traction as evidenced by the aforementioned deal with Mountain High Products, are a high-end CBD line using proprietary formulas for sleep, anxiety, inflammation and stress. Tech Central says it plans to market Better Mind CBD throughout the U.S. and Canada, while at the same time, continuing to expand its current product line. According to the company, wholesale orders are already being accepted and online sales will start this month. Tech Central expects to start generating revenues related to its Better Mind CBD product line during the current quarter—Q3 2019.
Next, the company’s white-label division, which was created as a division of Better Mind CBD, is for any customer who may desire starting their own brand. Tech Central is providing an opportunity for customers to experience what is essentially a one-stop shop on their way to developing their own CBD brand. White label clients can select existing hemp oil products from the company’s catalog, or they can develop custom formulas of their own using what Tech Central calls a “formulator.” The company says that once the customer finalizes their formulas, Tech Central has a design team that will work with the client every step of the way to create a compliant label that best represents their brand.
Joseph Lewis said of the white label division, “We saw right away that white labeling was going to be an important service to offer to our customers. Tech Central has the ability to stand out in the crowd since Better Mind CBD will not only be able to offer white label services, but also services Tech Central has been doing for years such as label development, website development, and media creation to its clients.”
And finally, Tech Central is developing an app that is solely dedicated to affiliate marketers in the CBD industry. “CBD Affiliate Marketer” is the name of the app, and it will provide training and resources to new and established affiliate marketers who desire to market their products in the CBD industry—especially in hard to advertise mediums such as Facebook and Google. The company says that the app is a natural fit for Better Mind CBD to also grow its sales.
With its expertise and ability to market, Tech Central should have no problem growing its sales especially in a market that, as stated earlier, experts and research firms are extremely bullish on and expect to flourish well into the future.
Worldwide legal cannabis spending hit $12.2 billion in 2018, and according to Arcview Market Research and its research partner BDS Analytics, the industry is projected to grow another 38% to $16.9 billion by the end of 2019. This is a significant jump from $9.5 billion in 2017—just two short years ago.
In their published research report, The State of Legal Marijuana Markets, Arcview and BDS expect spending on legal cannabis to balloon to an incredible $57 billion worldwide by 2027. Meanwhile, Cowen, Inc., a financial services and research firm covering the cannabis industry, is much more bullish on sales in this space and has revised its forecast for gross cannabis sales in the U.S. alone from $50 billion by 2026 to around $75 billion in gross sales by 2030. And then there is Grand View Research, Inc., who published a report that forecasts the global legal marijuana market to reach $146.4 billion by years-end 2025.
So there is obviously plenty of money to be generated in the cannabis/CBD markets, and while Tech Central may be a new player in the CBD industry, it is a company that is finding its way quickly. As Tech Central continues to define and shape its business model, it will also compete for its place in what is sure to be a very lucrative industry for a long time to come. Learn more about Tech Central, Inc. and its move into the cannabis/CBD industry at: www.techcentralinc.com and www.bettermindcbd.com.