Fashion

With CBD, Cannabis Wellness Market Goes Big

With CBD, Cannabis Wellness Market Goes Big

Cannabidiol oil-infused products have opened up a new space for cannabis. Before Melissa McCarthy stepped out on stage last week at the Academy Awards wearing a bunch of stuffed rabbits , she reportedly took a moment to rub her feet with CBD oil to help with the pain associated with the fashionable, but distinctly uncomfortable, ultra-high heels worn by celebrities.
McCarthy isn’t alone in turning to CBD-infused products to treat minor aches and pains. In fact, this year’s Oscars gift bag was full of CBD products. Sales of CBD are predicted to hit $22 billion in three years.
Much of that projected growth is coming from CBD’s newly minted status as a health and wellness product, where it’s treated as a lifestyle oil that relieves pain, fights inflammation and provides consumers with a general sense of well-being, all without the “high” effects that can come with CBD’s sister extract, THC. Until recently, cannabis was looked at as medicinal- or adult-use. With CBD, a third cannabis category — wellness — is emerging.
It’s even catching the eye of retail analysts at Wall Street firms such as Piper Jaffray. Recognizing that stores, such as Sephora, are now dedicating significant shelf space to CBD, one analyst said that she expects to see a lot of growth in the “beauty and the bong” industry.
As the CBD market grows, it will pave the way for THC products (for adult-use). Today, cannabis companies can establish relationships with retailers and build brand awareness with consumers through CBD. They’ll then be ready to add THC to their product lineup when prohibition eventually is lifted.
For now, CBD is being infused into face creams, bath bombs, makeup and dozens of pet products. Proponents say it works on everything from headaches to aching joints, relieves anxiety and skin conditions, and relaxes and rejuvenates all parts of the body . It’s even said to soothe hemorrhoids and stop menstrual cramps . A large part of this expanding category is the edibles market, where CBD is being touted as a superfood as it’s infused into products such as honey, salad dressing, baked goods, snacks and a whole host of beverages .
CBD is going so mainstream that even consumer-goods and media maven Martha Stewart is jumping in. Stewart announced last week that she’s teaming up with Canopy Growth to design and produce new CBD lifestyle products. She’s starting with a line for pets and then plans to introduce products for their human friends.
Cannabis company Tilray also recently signed a $100 million deal with Authentic Brands Group, whose portfolio includes Juicy Couture, Nine West and Jones New York, to develop and distribute cannabis products. Initially that will mean (hemp-derived) CBD items such as foot creams and mints sold in retail stores and malls across the country. Companies like Constellation Brands, makers of Corona beer, and tobacco giant Altria are also getting into the CBD game with billion-dollar investments.
Part of the spike in interest can be attributed to passage of the 2018 Farm Bill , which legalized production of industrial hemp, transforming it into a mainstream agricultural product. It’s certainly led to Tilray’s recent $314 million (U.S. dollars) purchase of Manitoba Harvest, the largest hemp company in the world.
Importantly, the farm bill also explicitly allows hemp-derived CBD products to cross state lines . These changes were followed by removal of hemp-derived CBD oil from the federal government’s Controlled Substances Act , meaning it has been decriminalized across the country at the federal level. That grants CBD privileges at the federal level refused, so far, to THC.
But it’s not entirely smooth sailing. The Food and Drug Administration has yet to issue new rules or guidelines regulating the sale of edible CBD products, leading some jurisdictions — including Maine, Ohio and New York City — to force vendors to pull CBD-infused edibles and beverages from shelves. In December, FDA Commissioner Scott Gottlieb released a statement indicating that CBD products were not legal in edible or supplement form — unless they received FDA approval.
The industry wants CBD listed as “generally recognized as safe,” so it would be classified similarly to vanilla flavoring and caffeine. Joining the industry in this push are at least a dozen lawmakers, who have asked the FDA to reconsider its policy on CBD in food so that it can be manufactured and sold without FDA approval. Gottlieb has shown signs of softening his position. He recently told Congress he would hold the first public hearings on CBD in April, en route to developing formal guidelines.
However the hearings play out, CBD-infused products aren’t going away. Today, nearly 7% of American adults use CBD products. That number is expected to grow to 10% over the next several years, and as CBD continues gaining popularity, it will continue to attract even greater numbers of new consumers into the market.

With CBD, Cannabis Wellness Market Goes Big

Opinions expressed by Forbes Contributors are their own. Markets I write about business and the legal cannabis industry. Share to facebook Share to twitter Share to linkedin In this April 19, 2018, photo Maxwell Reis, beverage director adds a few drops of Cannabidol CBD extract to a mixed drink at the Gracias Madre restaurant in West Hollywood, Calif. The hemp-derived CBD extract is popping up in everything, from cosmetics to chocolate bars to bottled water to bath bombs to pet treats. (AP Photo/Damian Dovarganes) ASSOCIATED PRESS Cannabidiol oil-infused products have opened up a new space for cannabis.
Before Melissa McCarthy stepped out on stage last week at the Academy Awards wearing a bunch of stuffed rabbits , she reportedly took a moment to rub her feet with CBD oil to help with the pain associated with the fashionable, but distinctly uncomfortable, ultra-high heels worn by celebrities.
McCarthy isn’t alone in turning to CBD-infused products to treat minor aches and pains. In fact, this year’s Oscars gift bag was full of CBD products. Sales of CBD are predicted to hit $22 billion in three years.
Much of that projected growth is coming from CBD’s newly minted status as a health and wellness product, where it’s treated as a lifestyle oil that relieves pain, fights inflammation and provides consumers with a general sense of well-being, all without the “high” effects that can come with CBD’s sister extract, THC. Until recently, cannabis was looked at as medicinal- or adult-use. With CBD, a third cannabis category — wellness — is emerging.
It’s even catching the eye of retail analysts at Wall Street firms such as Piper Jaffray. Recognizing that stores, such as Sephora, are now dedicating significant shelf space to CBD, one analyst said that she expects to see a lot of growth in the “beauty and the bong” industry.
As the CBD market grows, it will pave the way for THC products (for adult-use). Today, cannabis companies can establish relationships with retailers and build brand awareness with consumers through CBD. They’ll then be ready to add THC to their product lineup when prohibition eventually is lifted.
For now, CBD is being infused into face creams, bath bombs, makeup and dozens of pet products. Proponents say it works on everything from headaches to aching joints, relieves anxiety and skin conditions, and relaxes and rejuvenates all parts of the body . It’s even said to soothe hemorrhoids and stop menstrual cramps . A large part of this expanding category is the edibles market, where CBD is being touted as a superfood as it’s infused into products such as honey, salad dressing, baked goods, snacks and a whole host of beverages .
CBD is going so mainstream that even consumer-goods and media maven Martha Stewart is jumping in. Stewart announced last week that she’s teaming up with Canopy Growth to design and produce new CBD lifestyle products. She’s starting with a line for pets and then plans to introduce products for their human friends.
Cannabis company Tilray also recently signed a $100 million deal with Authentic Brands Group, whose portfolio includes Juicy Couture, Nine West and Jones New York, to develop and distribute cannabis products. Initially that will mean (hemp-derived) CBD items such as foot creams and mints sold in retail stores and malls across the country. Companies like Constellation Brands, makers of Corona beer, and tobacco giant Altria are also getting into the CBD game with billion-dollar investments.
Part of the spike in interest can be attributed to passage of the 2018 Farm Bill , which legalized production of industrial hemp, transforming it into a mainstream agricultural product. It’s certainly led to Tilray’s recent $314 million (U.S. dollars) purchase of Manitoba Harvest, the largest hemp company in the world.
Importantly, the farm bill also explicitly allows hemp-derived CBD products to cross state lines . These changes were followed by removal of hemp-derived CBD oil from the federal government’s Controlled Substances Act , meaning it has been decriminalized across the country at the federal level. That grants CBD privileges at the federal level refused, so far, to THC.
But it’s not entirely smooth sailing. The Food and Drug Administration has yet to issue new rules or guidelines regulating the sale of edible CBD products, leading some jurisdictions — including Maine, Ohio and New York City — to force vendors to pull CBD-infused edibles and beverages from shelves. In December, FDA Commissioner Scott Gottlieb released a statement indicating that CBD products were not legal in edible or supplement form — unless they received FDA approval.
The industry wants CBD listed as “generally recognized as safe,” so it would be classified similarly to vanilla flavoring and caffeine. Joining the industry in this push are at least a dozen lawmakers, who have asked the FDA to reconsider its policy on CBD in food so that it can be manufactured and sold without FDA approval. Gottlieb has shown signs of softening his position. He recently told Congress he would hold the first public hearings on CBD in April, en route to developing formal guidelines.
However the hearings play out, CBD-infused products aren’t going away. Today, nearly 7% of American adults use CBD products. That number is expected to grow to 10% over the next several years, and as CBD continues gaining popularity, it will continue to attract even greater numbers of new consumers into the market. Nick Kovacevich Contributor
I am the CEO and cofounder of KushCo Holdings, Inc. (OTCQB: KSHB), the parent company to a diverse group of business units that are transformative leaders in the cannabi… Read More

Women behind the lens

Photographers Jennifer McCord, Iulia David, Holly-Marie Cato and Amy Shore are leading the charge to get more women behind the lens. They will be passing on their knowledge at the Women Who Photo event to be held at the Photography Show in Birmingham.
Here we showcase a selection of their work and learn what inspires them.
The music photographer Image copyright Jennifer McCord Jennifer McCord can often be found in the pit in front of the stage, capturing a gig with her camera or documenting a band on tour.
Now 23, her career began when as a teenager she had a chance to shoot pictures at a concert around the time of the London Olympics, while volunteering with a charity that gives cameras to young people to help develop social and teambuilding skills.
After that is was back to school – but the seed had been sown.
With what she calls “naive arrogance”, she emailed a band who followed her on Twitter, asking if they wanted a tour photographer.
To her surprise, they said yes and a 10-day tour followed.
Those pictures are long forgotten – but the realisation aspiring photographers needed to keep “hustling” stuck.
“I was shooting four shows a week, unpaid for a year, emailing the photos to the bands and word got round,” McCord says.
Image copyright Jennifer McCord Image caption American musician Maggie Rogers Image copyright Jennifer McCord Image caption Vocalist Jason Aalon Butler, of the Fever 333, at the Download Festival McCord says social media is helping women break through into the industry,
“When I started, I wasn’t aware of women music photographers – but in the last five years that has changed so much,” she says.
“I was in a pit the other day and there was one guy and nine girls.
“I though this is it, we are taking over.”
But despite this, McCord says as you move up the ladder in the music industry, the top end is still dominated by men.
Image copyright Jennifer McCord Image caption Dua Lipa at Reading Festival, 2018 “I think it is harder for women, especially in music, as there is no room for you to be mediocre at your job,” she says, “you have to be excellent otherwise you don’t stand out.”
McCord tells anyone trying to enter the profession to make sure they have a good support system, friend or family, someone to help you out when you have bad days.
“Even on days where you feel you are not getting anywhere, it will come, just keep moving forward,” she says.
The travel and community photographer Image copyright Holly-Marie Cato Image caption Florence in her flat opposite Grenfell Tower “I am not your average street photographer,” says 27-year-old Holly-Marie Cato.
“I am a black woman with an afro and a camera in my hand. That is such a conversation starter, especially now I am using a medium-format film camera, people are asking me about it as I approach them.”
Cato often returns to the same places over and over to build a rapport and to let word of mouth take her on a journey from one person to another, building a deep relationship with the communities she is documenting.
Image copyright Holly-Marie Cato Image caption “The Light man, as he calls himself, was working in a makeshift studio space, building sculptures out of wood when we met,” says Cato. Yet it took a while for Cato to even call herself a photographer – and, indeed, a film-maker too.
It all began by chance, when she found herself at the 2011 Tottenham riots. As she owned a camera, bought for her studies in architecture at Leicester University, she had been asked by friends to take some pictures behind the scenes of a production at a theatre in Tottenham.
While outside, she saw people protesting peacefully and took a few pictures.
“I had no idea that it would turn into what became the Tottenham riots and then spread across London,” says Cato.
As the protest turned into a riot, she continued to document it.
“I ended up taking film footage too, ” she says.
“And as I was the only one doing that, it ended up on the BBC, on Panorama, and then the Guardian and other news outlets across Europe.
“That was the catalyst for me. It was surreal and scary but this just shifted something inside me.”
Image copyright Holly-Marie Cato Image caption “Landowner, cattle farmer, astute business woman, great grandmother and the strongest 75-year-old I know,” says Cato of Nemama, whom she photographed in Kenya. Cato returned to her studies at university, however, not really thinking of photography as a full-time career and fully expecting to end up looking at “AutoCAD [computer-aided design software] for 10 hours a day”.
But she did pick up her camera again and, although she had to deal with “imposter syndrome”, she learned on the job and now works for a wide range of clients.
Now, she tells others of her experience as a way to give confidence to those wanting to break into photography or film-making.
“We see one idea of the travel or industry photographer,” Cato says.
“I want to highlight that there are far more women in the industry who have a voice and [are] doing amazing work and to attract a more diverse set of people.”
The automotive photographer Image copyright Amy Shore Image caption Early morning at the Goodwood Revival festival Amy Shore, 27, loves cars and motorbikes, but not purely as objects. For her, it’s about the adventures you can experience behind the wheel and the people you meet on those journeys.
Shore’s philosophy is that you should marry your passion with photography, whether that is cooking, astronomy, fashion, or whatever – it is the merger of the two that matters.
And cars are in her blood – her father has worked in classic-car restoration for many years as well as being part of the Lotus Formula 1 team in the late 1980s early 90s.
While at university, Shore photographed weddings in her free time – but it was a visit to the Goodwood Revival festival and a chance to take pictures of a replica Ferrari P4 that kick-started her career behind the lens.
Image copyright Amy Shore Image caption Replica Ferrari P4 The pictures of the Ferrari were shared many times on social media and picked up by a number of outlets, including Top Gear magazine and Playboy’s Facebook page.
“I’d never photographed a car before,” says Shore. “The night before I searched ‘How to photograph a car’. I didn’t have any fancy flashes and wasn’t that good on Photoshop but thought I’d give it a go.”
And from then on, Shore just said yes to all the opportunities that came her way, applying her knowledge of taking pictures of people at weddings to cars.
Image copyright Amy Shore Image caption Amy Shore’s Mini adventure, when she drove her 1985 Mini 1,600 miles solo around the Scottish Highlands Image copyright Amy Shore Image caption A rainy day at the Goodwood Revival festival, 2017 “My pictures have been described as vintage-looking, or romantic,” she says.
“Car photography can be very technical and masculine and I suppose it resulted in a sort of softer feminine style of automotive journalism.”
Of course, Shore is aware most of those interested in the automotive world are male, borne out by the fact that nearly 90% of her followers on social media are men.
Image copyright Amy Shore Image caption Old Red on Pendine sands, shot for Farer watches Her influences are all conflict photographers, who don’t have a chance to setup or reset.
She thinks quickly and keeps situations as raw and as real as possible, often setting out with just a planned route and simple shot list but then seeing what photo opportunities develop on the way.
“The other day I was driving a McLaren in Arizona. It was one of those pinch-yourself moments,” says Shore. “I hope I never take it for granted.”
The beauty photographer Image copyright Iulia David Iulia David’s photography career began by taking portraits of friends, which she would then retouch on the computer. Soon, word got round and she was getting lots of requests for shoots – so she decided to take the plunge.
David opened a studio in London, despite everyone saying she was crazy to do so. Now, aged 30, she has opened a second studio, in Birmingham.
Image copyright Iulia David “I spend about two hours retouching each picture – and, even today, find it very relaxing and therapeutic,'” says David.
“I love the photography of course – but I like my little space in front of the computer.
“Many people come to me for my clean and skinned look.
“I think people want to get away from over-processed images, so they look like themselves.”
Image copyright Iulia David David also runs workshops, with clients coming from far and wide. And the plan for the new studio in Birmingham is to make it a space where people can come and learn about photography.
“I don’t think there is a secret. You don’t need expensive kit. You can do it with basic things and still get good results,” says David.
“You need to be determined and confident in your skills. The beauty industry is hard to get into but not impossible.”
Image copyright Iulia David McCord, Cato, Shore and David are all taking part in the Women Who Photo panel discussion at the Photography Show on Saturday 16 March at the Photo Live Stage.

Women behind the lens

These are external links and will open in a new window Close share panel International Women’s Day
Photographers Jennifer McCord, Iulia David, Holly-Marie Cato and Amy Shore are leading the charge to get more women behind the lens. They will be passing on their knowledge at the Women Who Photo event to be held at the Photography Show in Birmingham.
Here we showcase a selection of their work and learn what inspires them. The music photographer Image copyright Jennifer McCord
Jennifer McCord can often be found in the pit in front of the stage, capturing a gig with her camera or documenting a band on tour.
Now 23, her career began when as a teenager she had a chance to shoot pictures at a concert around the time of the London Olympics, while volunteering with a charity that gives cameras to young people to help develop social and teambuilding skills.
After that is was back to school – but the seed had been sown.
With what she calls “naive arrogance”, she emailed a band who followed her on Twitter, asking if they wanted a tour photographer.
To her surprise, they said yes and a 10-day tour followed.
Those pictures are long forgotten – but the realisation aspiring photographers needed to keep “hustling” stuck.
“I was shooting four shows a week, unpaid for a year, emailing the photos to the bands and word got round,” McCord says. Image copyright Jennifer McCord Image caption American musician Maggie Rogers Image copyright Jennifer McCord Image caption Vocalist Jason Aalon Butler, of the Fever 333, at the Download Festival
McCord says social media is helping women break through into the industry,
“When I started, I wasn’t aware of women music photographers – but in the last five years that has changed so much,” she says.
“I was in a pit the other day and there was one guy and nine girls.
“I though this is it, we are taking over.”
But despite this, McCord says as you move up the ladder in the music industry, the top end is still dominated by men. Image copyright Jennifer McCord Image caption Dua Lipa at Reading Festival, 2018
“I think it is harder for women, especially in music, as there is no room for you to be mediocre at your job,” she says, “you have to be excellent otherwise you don’t stand out.”
McCord tells anyone trying to enter the profession to make sure they have a good support system, friend or family, someone to help you out when you have bad days.
“Even on days where you feel you are not getting anywhere, it will come, just keep moving forward,” she says. The travel and community photographer Image copyright Holly-Marie Cato Image caption Florence in her flat opposite Grenfell Tower
“I am not your average street photographer,” says 27-year-old Holly-Marie Cato.
“I am a black woman with an afro and a camera in my hand. That is such a conversation starter, especially now I am using a medium-format film camera, people are asking me about it as I approach them.”
Cato often returns to the same places over and over to build a rapport and to let word of mouth take her on a journey from one person to another, building a deep relationship with the communities she is documenting. Image copyright Holly-Marie Cato Image caption “The Light man, as he calls himself, was working in a makeshift studio space, building sculptures out of wood when we met,” says Cato.
Yet it took a while for Cato to even call herself a photographer – and, indeed, a film-maker too.
It all began by chance, when she found herself at the 2011 Tottenham riots. As she owned a camera, bought for her studies in architecture at Leicester University, she had been asked by friends to take some pictures behind the scenes of a production at a theatre in Tottenham.
While outside, she saw people protesting peacefully and took a few pictures.
“I had no idea that it would turn into what became the Tottenham riots and then spread across London,” says Cato.
As the protest turned into a riot, she continued to document it.
“I ended up taking film footage too, ” she says.
“And as I was the only one doing that, it ended up on the BBC, on Panorama, and then the Guardian and other news outlets across Europe.
“That was the catalyst for me. It was surreal and scary but this just shifted something inside me.” Image copyright Holly-Marie Cato Image caption “Landowner, cattle farmer, astute business woman, great grandmother and the strongest 75-year-old I know,” says Cato of Nemama, whom she photographed in Kenya.
Cato returned to her studies at university, however, not really thinking of photography as a full-time career and fully expecting to end up looking at “AutoCAD [computer-aided design software] for 10 hours a day”.
But she did pick up her camera again and, although she had to deal with “imposter syndrome”, she learned on the job and now works for a wide range of clients.
Now, she tells others of her experience as a way to give confidence to those wanting to break into photography or film-making.
“We see one idea of the travel or industry photographer,” Cato says.
“I want to highlight that there are far more women in the industry who have a voice and [are] doing amazing work and to attract a more diverse set of people.” The automotive photographer Image copyright Amy Shore Image caption Early morning at the Goodwood Revival festival
Amy Shore, 27, loves cars and motorbikes, but not purely as objects. For her, it’s about the adventures you can experience behind the wheel and the people you meet on those journeys.
Shore’s philosophy is that you should marry your passion with photography, whether that is cooking, astronomy, fashion, or whatever – it is the merger of the two that matters.
And cars are in her blood – her father has worked in classic-car restoration for many years as well as being part of the Lotus Formula 1 team in the late 1980s early 90s.
While at university, Shore photographed weddings in her free time – but it was a visit to the Goodwood Revival festival and a chance to take pictures of a replica Ferrari P4 that kick-started her career behind the lens. Image copyright Amy Shore Image caption Replica Ferrari P4
The pictures of the Ferrari were shared many times on social media and picked up by a number of outlets, including Top Gear magazine and Playboy’s Facebook page.
“I’d never photographed a car before,” says Shore. “The night before I searched ‘How to photograph a car’. I didn’t have any fancy flashes and wasn’t that good on Photoshop but thought I’d give it a go.”
And from then on, Shore just said yes to all the opportunities that came her way, applying her knowledge of taking pictures of people at weddings to cars. Image copyright Amy Shore Image caption Amy Shore’s Mini adventure, when she drove her 1985 Mini 1,600 miles solo around the Scottish Highlands Image copyright Amy Shore Image caption A rainy day at the Goodwood Revival festival, 2017
“My pictures have been described as vintage-looking, or romantic,” she says.
“Car photography can be very technical and masculine and I suppose it resulted in a sort of softer feminine style of automotive journalism.”
Of course, Shore is aware most of those interested in the automotive world are male, borne out by the fact that nearly 90% of her followers on social media are men. Image copyright Amy Shore Image caption Old Red on Pendine sands, shot for Farer watches
Her influences are all conflict photographers, who don’t have a chance to setup or reset.
She thinks quickly and keeps situations as raw and as real as possible, often setting out with just a planned route and simple shot list but then seeing what photo opportunities develop on the way.
“The other day I was driving a McLaren in Arizona. It was one of those pinch-yourself moments,” says Shore. “I hope I never take it for granted.” The beauty photographer Image copyright Iulia David
Iulia David’s photography career began by taking portraits of friends, which she would then retouch on the computer. Soon, word got round and she was getting lots of requests for shoots – so she decided to take the plunge.
David opened a studio in London, despite everyone saying she was crazy to do so. Now, aged 30, she has opened a second studio, in Birmingham. Image copyright Iulia David
“I spend about two hours retouching each picture – and, even today, find it very relaxing and therapeutic,'” says David.
“I love the photography of course – but I like my little space in front of the computer.
“Many people come to me for my clean and skinned look.
“I think people want to get away from over-processed images, so they look like themselves.” Image copyright Iulia David
David also runs workshops, with clients coming from far and wide. And the plan for the new studio in Birmingham is to make it a space where people can come and learn about photography.
“I don’t think there is a secret. You don’t need expensive kit. You can do it with basic things and still get good results,” says David.
“You need to be determined and confident in your skills. The beauty industry is hard to get into but not impossible.” Image copyright Iulia David McCord, Cato, Shore and David are all taking part in the Women Who Photo panel discussion at the Photography Show on Saturday 16 March at the Photo Live Stage. Related Topics

7 Online Business Ideas That Could Make You Rich

There are no Videos in your queue. Click on the Add to next to any video to save to your queue. There are no Articles in your queue. Click on the Add to next to any article to save to your queue. There are no Podcasts in your queue. Click on the Add to next to any podcast episode to save to your queue. See Latest Podcasts You’re not following any authors. Click the Follow button on any author page to keep up with the latest content from your favorite authors. 7 Online Business Ideas That Could Make You Rich These three industries could make you rich when you start your next business online. Entrepreneur, software engineer, author, blogger and founder of WanderlustWorker.com March 7, 2019 13
If you’re at all interested in starting your own online business, there’s no time like the present. We live in a golden age of wealth. As much as the media tries to glorify the perils of our society, we actually live in a time that’s ripe with opportunity and the potential for monumental business growth at a scale never before experienced. Thanks to the internet and smartphones, the amount of commerce being conducted online has experienced explosive growth.
If you’re at all scarcity-minded, it’s important to understand how much abundance exists today. Considering that virtually every brick-and-mortar store has made the transition to an online business, there’s certainly no shortage of competition. But there’s also plenty of so-called blue ocean. While most might make it out to seem like Amazon is the only company reaping the benefits of the ecommerce boom here, the growth is widespread and across every single sector in business.
Related: 10 Ways to Ditch Your Job and Work for Yourself
According to the National Retail Federation (NRF), it’s been estimated that retail business will stay on par with a 3.7 percent to 4.2 percent growth rate. However, the NRF expects non-store sales to be anywhere from three to four times that rate of growth. However, even though brick-and-mortar sales still comprise the majority of consumer’s spending, it’s only expected to grow at roughly 2.8%. Clearly, what’s driving much of our present ecommerce growth is the smartphone market.
However, this only further illuminates the exponential rise of online business today. Considering that the internet is still largely in its infancy, as the modern conveniences give way to near-instant delivery of products via drones, 3D printing and other means, and as virtual and augmented reality help to improve the online shopping experience, nearly all our commerce will eventually be conducted through online channels rather than offline channels.
The question then becomes, how can you take advantage of this massive surge of spending happening every second of every single day online? The truth? Whether you’re looking to start a simple online business as a side hustle , or you’re quite literally looking to get rich and make an exorbitant amount of money online , there are 7 businesses that simply can’t be overlooked.
Related: 4 Online Marketing Trends With Big Potential to Drive Sales How to start a business online
Starting an online business takes some legwork. There are legal and financial hoops that you’ll need to jump through. It’s important that you consult with an attorney or your accountant before taking the plunge. But, once you’re ready, starting a business online, even with little money, is not only a possibility, it’s a stark reality.
The beauty of the internet is that you can quite literally launch a business and make money online with very little to no capital. If you understand the mechanics of online marketing , or if you’re great at social media, you’ll clearly find it easier. But you don’t need to be a pro to start your business online.
Like anything else in this world, you’ll either need a lot of time or a lot of money. If you have both, then clearly, you’re ahead of the game. But most people have more of the former rather than the latter. But considering that time is finite and we only have a certain amount of it, using your time wisely and managing your time properly is crucial to ensure your success.
Related: 10 Mistakes to Avoid When Starting an Online Business 1. Chatbot business
The rise of the chatbot has been extraordinary to witness. Thanks to the ubiquity afforded to us by chat on platforms like Facebook, we’ve grown quite used to chatting with friends and family across all our social media networks. That’s why AI-powered chatbots present a new digital frontier for businesses looking to automate and relinquish much of the man-power it takes to have a chat with its customers.
This is abundantly clear when it comes to customer service. However, it’s potent value in commerce has become quite obvious as well, and businesses across all spectrums are now taking advantage of this. Platforms like Manychat , ChattyPeople and several others have sprung up to take much of the confusion and complexities out of building a chatbot.
There’s a proverbial gold rush happening today, of people trying to launch chatbots for their businesses to help automate some of their sales and marketing efforts that are needed to properly grow and scale in today’s market. However, similar to California’s Gold Rush, those that will likely get rich are the ones that sell the picks and shovels. For that reason, why not launch your own chatbot business? Sure, there’s some effort involved here, but this is definitely worth the steep learning curve.
Related: Top 10 Best Chatbot Platform Tools to Build Chatbots for Your Business 2. Box subscription business
The box subscription business has exploded. While it’s nothing new, and it’s been around for ages now, the overwhelming rise of the internet has breathed newfound life into this online business idea. What is a box subscription exactly? If you think back for a moment to one of the most viral box subscriptions businesses, you’ll clearly recall the Dollar Shave Club .
Founded by Michael Dubin in 2011, the concept was ingenious in its use of a video that quickly went viral . The company was sold for a billion dollars, and when you look at it from a sales funnel perspective, what Dubin did was brilliant. Like other box subscription businesses, there’s a basic level of items that you can order.
Related: 9 Tips for Starting a Business in a Crowded Digital Marketplace
When you place your order, you’re directed into a sales funnel with numerous upsells in the form of add-ons. Dubin’s understanding of the market forces and his ability to have fun and create a business that was properly poised for explosive growth have made him an icon.
However, you don’t need to go viral to enjoy the growth in box subscription businesses. You’ll even discover websites like CrateJoy , which was created primarily to help connect potential subscribers with box subscription businesses, giving you a platform where you can get the proverbial word out about your business.
Companies like Graze , Blue Apron , FabFitFun , LeTote and many others are on the rise. In 2016, it was estimated by Shorr Packaging that there were 21.3 million box subscription websites, up from just 700,000 in 2013, a roughly 3,000 percent increase. What’s most interesting here are the consumer demographics. The typical visitor to a box subscription websites makes roughly $78,436 a year and is in their early forties.
Related: 10 Subscription Companies to Start Now 3. Ad management business
In today’s hotly-competitive marketplace, if you don’t understand how to drive paid traffic and optimize your conversions , you need to turn to a company that does. The truth is that paid ads can get incredibly complex. Things like re-targeting and custom audience definitions, along with understanding the ebb and flow of everything with a sales funnel, is complex and confusing to most.
However, if you do understand the mechanics of paid advertising, then you could easily launch an ad management business. Considering that ads are fueling the growth of tech giants like Facebook, Instagram, Google and YouTube, with loads of others coming into the mix, understanding and navigating the murky waters of paid advertising could poise you to reap massive riches.
Why? Let’s take a look at the numbers for a moment. Consider this: according to a report by eMarketer , digital ad spending in the U.S. will exceed traditional ad spending for the first time this year. By 2023, digital will surpass two-thirds of total media spending. Total digital ad spending in the U.S. will grow 19% to $129.34 billion this year — 54.2% of estimated total U.S. ad spending.
The sheer facts point to continued explosive growth of online ads. And we’re still in the infancy of the internet. The earlier you capitalize on this industry, the quicker you can build it into a formidable online business. Study and learn all the intricacies of advertising on platforms like Facebook and Google. Find courses, or use the free material available from a multitude of platforms to become a seasoned pro.
Related: The Death of Traditional Advertising and the Rise of Originality 4. SEO business
Search engine optimization is a topic that I’ve been writing about for years now. The truth is that, while paid ads are growing at an astounding rate, the ability to appear organically and relevantly on search engines like Google is not only becoming more competitive, but also more lucrative.
When it comes to organic search keywords, there is sheer value at the top. Considering that roughly 40 percent of people click on the first search results and that the first page accounts for some 91 percent of the search share, appear organically at the top of Google’s Search Engine Results Pages (SERPs) is something that is lusted and longed for by the world’s foremost online marketers.
As the internet grows and expands, not only is SEO going to get more competitive, but it’s also going to grow more lucrative. You could quite easily capitalize on this industry if you know what you’re doing. This doesn’t just go for doing work for clients, but also for yourself. You could launch any number of online businesses, niche websites, and blogs with the right amount of SEO skills .
Related: 5 SEO Techniques You’re Doing All Wrong 5. Vacation rental business
The vacation rental business is booming. While the mere mention of it might make you think about billion-dollar titans like AirBnB or HomeAway, there are niche businesses like Michael Joseph’s InvitedHome and Joe Poulin’s Luxury Retreats and many others being carved out across a variety of markets. When it comes to vacation rental homes and vacation rental management, companies are earning anywhere between 10 percent and 40 percent on the gross rental rate depending on the location and the management level.
Launching and building a vacation rental business might require some sweat equity along with the right turnkey software solution to help you keep things organized as bookings ramp up, but if you have an acute attention to detail, then this is by far one of the best businesses you can start online. Of course, this does operate in the real world, but your web presence and marketing skills are really what define this business and helps it to succeed.
If you’re at all interested in the hospitality industry, and you live in a tourist destination, this is a terrific business that can make money fast . Companies like Lodgix , Lodgify and 365 Villas offer terrific turnkey solutions for quickly building and managing your very own vacation rental management business.
Related: 10 Hosting Options Besides Airbnb #TravelHosting 6. Webinar business
I know what you’re thinking. How do you start a webinar business? Well, webinars are quite possibly one of the best ways that you can sell anything online. The best part? You don’t even need your own product. Webinar guru, Jason Fladlien, co-founder of Rapid Crush , has grossed well north of $100 million in sales via webinars , which goes to show you the sheer power of this medium for selling.
Webinar offer an engaged audience that are ready and willing to purchase whatever it is that you’re offering. As a fervent student of this medium, I’ve found explosive results await within a properly structured webinar. People like Liz Benny , Neil Patel and Russ Ruffino have been absolutely crushing it with webinars.
The best way you can launch a webinar business is to find a product you can promote and get behind. Then, build an excellent webinar. The Perfect Webinar is a formula originally developed by Fladlien but later brought to the mass market by Russell Brunson. Brunson also created a software with Jim Edwards called Funnell Scripts , which is an incredible piece of software that helps you to build your entire webinar including copy for ads and swipes.
Either way you approach it — whether you have an existing business or just want to sell as an affiliate — some of the best webinar platforms that you could use in the world are GoToWebinar and Andy Jenkins’ WebinarJam .
Related: 6 Steps to Creating the Ultimate Webinar #NoBSPresentation 7. Business coaching
Business coaching is a lucrative online business that can tap into the massive market of entrepreneurs and business owners trying to find their way in the world of commerce. If you’re an expert in business or have a deep understanding of the market forces of what drive purchases, then becoming a business coach could mean financial freedom.
People like Frank Kern and Anthony Robbins absolutely dominate the business coaching world, while several others are leading the charge as well. The best approach you can take in this industry is to offer an incredible amount of value upfront, and then have people pay you for execution.
Oliver Talamayan , another very successful business coach, uses this approach as his primary strategy for gaining clients and customers. First, you analyze the business and understand where it is today, then discover where they want to be down the road, and then figure out an approach to get them there.
The understanding and successful execution of an effective strategy is key here. You want to instill confidence in yourself, and to do that, you often need a good deal of social proof. For that reason, if you do want to launch a successful business coaching business, first, grab some customers and help them succeed. Then, get their powerful testimonials, and only then can you actually position yourself to charge high-ticket rates.
Brunson also talks about doing this before he started his Inner Circle. He helped Drew Canole successful launch Organifi into a global powerhouse by helping to consult, coach and deploy powerful strategies that helped Canole’s company draw in tens of millions of dollars from one single funnel. After that, he was easily able to charge the big bucks. More from Entrepreneur Dustin’s experience and expertise can help you monetize your message, build a marketing strategy and connect with influencers.

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