Hemp Farming Success Stories [2024]
Hemp farming is a great way to start a business. It is a very lucrative, simple, and easy business to run. Hemp is one of the most versatile crops in the world and can be used for everything from textiles to food.
Hemp farming can be done for both industrial and personal use. The use of hemp for industrial purposes includes paper, clothing, rope, and even biofuels like biodiesel. Personal uses include lotions, soaps, and body care products.
You do not need any special equipment or tools to start this type of business because all you need is space for planting the seeds and water availability. It is a profitable business that can be started with a small investment.
In 2020, Hemp fiber farmers may see a slightly higher profit margin than farmers who grow Hemp for CBD. The fiber sells for about $260 per ton, and with the average tonnage yield per acre being around three, you would make about $450 per acre after production costs.
Your earnings could range from $2,500 per acre to beyond $50,000 per acre if you do everything perfectly, follow the best procedures, and harvest plants that contain 10% CBD.
In this list, you'll find real-world Hemp Farming success stories and very profitable examples of starting a Hemp Farming that makes money.
1. Elixinol Global ($9.6M/year)
In the early 90s, the founder learned about the nutritional benefits of hemp seeds while traveling in Canada. This led to the idea of starting a hemp foods business in the UK, which eventually expanded into multiple ventures in the hemp industry. After many years of hard work and perseverance, the founder's businesses were merged under Elixinol Global, a publicly traded company that recently raised $120 million in funding.
How much money it makes: $9.6M/year
How much did it cost to start: $1M
How many people on the team: 35
Founder builds multimillion-dollar hemp products company from scratch, merging Hemp Foods Australia and Elixinol to become Elixinol Global, trading via the ASX with approximately 50-70% gross margins.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
