How CBD Oil grew into a $ 1 billion industry
CBD stands for cannabidiol. It is the part of the cannabis plant that marijuana is made from and that has significant therapeutic properties.
If you’ve been in the area and feel like Greenleaf Farms LLC, a CBD store, came out of nowhere, you wouldn’t be wrong.
Owner Brian Vertefeuille, experienced in the hemp and cannabis industry and a Windham resident, said the business that began in Jewett City this year is now a chain of stores based or coming to Connecticut, New York, Ohio and Virginia will . Current locations in Connecticut include Norwich, Jewett City and New London, with more to come including Danielson, Manchester, Bridgeport, Ellington, Hamden, North Haven and New Haven.
“It’s not that one day I jumped in with both feet and said, ‘Hey, I’m going to get into the cannabis industry,'” said Vertefeuille. “I’ve been in the industry for a long time.”
Vertefeuille’s logic, stemming from his military days, is to pursue an aggressive strategy of expansion. The first Greenleaf Farms in Jewett City were set to make $ 15,000 a month, Vertefeuille said, and he has continued to open as many stores through an affiliate program.
“When you surround yourself with people who are just as motivated as you are, you strive for it,” says Vertefeuille.
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Greenleaf Farms focuses on CBD products that can be ingested through oils, topical foods, and more. Vertefeuille says they can help people sleep, focus on tasks, relax, and relieve pain, among other things.
Janet Rufo, who lives in Lebanon, said she was eating a serving of CBD chocolate to help ease her insomnia and anxiety. It also helps her with muscle pain.
“You don’t feel overly medically treated,” said Rufo. “You just feel good.”
As a former nurse, Rufo urges people to consider CBD to help with pain relief.
“It makes you more functional to do some of the things that you used to do but can’t do anymore because of the pain,” said Rufo.
For people who open the affiliate stores, they are topped up at $ 15,500 per store. Under the affiliate program, Vertefeuille’s company is the sole distributor and Greenleaf receives a cut, but the people who run the affiliate businesses own their own businesses.
“This is about making entrepreneurs,” said Vertefeuille.
Vertefeuille would like to expand the brand and is considering selling it to an interested buyer. However, he does not want to “just stop” with his business partner or the shopkeepers. If the brand is sold or a company is sold, everyone involved would be cut.
“My goal is to become one of the largest distribution networks for these products,” said Vertefeuille.
Vertefeuille works at Greenleaf Farms and supports a veteran’s charity, but has not yet made up his mind which one.
Jose Amado, Operations Manager at the Norwich site, has known Vertefeuille for years.
“He’s always been ambitious and ambitious,” said Amado.
After his career as a chef burned out, Amado chose Vertefeuille at Greenleaf and started the Jewett City location.
“To be honest, I don’t regret getting around to it,” said Amado. “I learn every day.”
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Amado looks forward to the future of the company.
“I’m glad that I’ll be there to help him,” said Amado.
Open stores are located at 74.5 North Main St., Jewett City, 48 Franklin St, Norwich, and 613 Bank St, New London.