Did you know that the average CBD product costs between 10 and 15 cents per milligram? That means that if you’re taking 40mg of CBD every day, it could cost you over $120/month.
Here at Sunsoil, we believe in CBD. We’ve seen it be helpful in our own lives. And for the last 6 years, we’ve heard from thousands of you about how it’s helped you deal with your aches, sleep, and mental health.
Given how helpful CBD can be, it is disappointing that our industry hasn’t done more to make these products more affordable.
We can do better
Ever since hemp farming was legalized, corporations have focused on profits. To them, cannabis is just another gold rush. They’ve focused their efforts on making premium products (lotions, seltzers, you name it) and selling them to the few that can afford them.
We’ve done things differently.
We treat CBD as if it’s medicine, not a trend. We focus on quality (we’re certified organic). We keep things simple (fewer ingredients, minimal processing). We’ve developed unique methods that allow us to make CBD oil more efficiently than anyone else in the world.
But we can do better.
CBD for the people
Can the CBD industry make products that can compete with Advil or Tylenol in price?
For companies that are already losing money (sadly most of the industry today), cutting prices will only accelerate a downward spiral. But for companies who are willing to innovate, lower prices are very much within reach.
Sunsoil’s plan is to reduce the price of CBD by 80% over the next five years. At those prices, CBD won’t cost much more than ibuprofen or acetaminophen.
But how will we get there? In three ways.
1. Agricultural Innovation
Cannabis is a prolific plant. However, most companies have simply copied the agricultural and processing practices from the recreational marijuana industry—rather than tailoring their methods for hemp.
At Sunsoil, we’ve engineered novel ways to farm and harvest hemp. This gives us bountiful, CBD-rich harvests that we then efficiently turn into oil. When we can extract more CBD from the same acreage of farmland, we can share those efficiencies with you.
2. Efficiencies from Scale
As our customer base grows—and we need to grow more hemp and produce more CBD—our average costs go down.
Of late, we've been more aggressive in spreading the word about Sunsoil, offering new customers attractive deals (such as free trials) to try our products. We’re doing that so that we can reach higher volumes that allow us to drop prices for everyone.
Federal clarity will also help get us to lower prices. Costs are higher across the industry because many suppliers, co-manufacturers, and fulfillment partners perceive that there are risks to working with CBD companies.
3. Process Improvements
No detail is too small when it comes to improving quality and reducing cost. When we’re able to improve how we do things—even in small ways—the savings add up.
We developed our unique method of whole-plant infusion because it yields naturally rich CBD oil while also being highly cost-efficient.
There is plenty of room for automating manual processes and improving our cost-effective method of making CBD. But to do so, we’ll need to gradually invest in new equipment and facilities at the farm.