LOS ANGELES, Jan. 7, 2020 /PRNewswire/ -- CEO and founder of Greencare Solutions, Freddy Rashid discusses how he has become a big proponent of regulating CBD and how he plans on shaping the ever-changing CBD market in 2020.
How are all the new FDA cannabis regulations and taxes affecting your business?
They decided to raise the tax on our cultivation once again, so rather getting better it's gotten worse. That's why the black market continues to thrive because the tax continues to go up. As for CBD, some companies are putting out fake products and lying about how much CBD is in it. They're starting to regulate that. CBD's projected to be a 22 billion dollar industry by 2022 and I hope they begin to require licensing for CBD to weed out the fake products.
What does your marketing strategy look like for 2020?
We've been featured in Forbes and SWAGGER Magazine so in 2020 we're bringing in celebrities as brand ambassadors and continuing to make our products better. We also have our show Green Talk by Greencare Solutions where we feature a new celebrity each week. We continue winning awards as well, this time last year we were 5x award winning and now we're 13x award winning. We're hitting all the CBD expos as well this year and pushing out our products through distribution companies to New York, Chicago, Las Vegas, San Jose, San Francisco, Los Angeles and San Diego. I have hired over 150 wholesalers this year alone. We're launching a product that no one else has which is our CBD Canna Hookah, which will put us on the map.
Do you think there's a need to have more aggressive marketing to offset the fact that your costs are going up with these heavier taxes?
Definitely. There's only a small group of companies you can sell to when you're licensed because you can only sell to other licensed companies. Because of the high taxes a lot of companies are struggling to keep up because it's overly regulated. With the taxes going higher the only way to really separate yourself is by having top-shelf exotic strains, really good flowers and great marketing and you must have brand notoriety. People want to see you're reputable and that's one of the reasons why we're doing a lot of advertising this year.
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