Is There Residual Income in Promoting CBD Oil?
Who doesn’t like to march the beat of their own drum? More than ever, people are looking for opportunities to break free from the 9 to 5. We’re all searching for ways to find the extra time needed to do more of the things that we love. A great way to achieve this work-life balance is by creating residual income.
By bringing in extra cash flow, you can start to take the reigns of your career. One of the best ways to do this is by promoting CBD oil. CBD oil has been growing in popularity across the world, fixing to become a $7 billion industry. It’s a much greener way to get rich by striking sustainable oil! Let’s compare promoting CBD oil for residual income into another popular investment percolating in the residual income market--coffee shops.
Why People Are Investing in Coffee Shops
Before we can compare and contrast investing your money into promoting CBD oil vs. investing in a coffee shop, let’s look at why there’s such a growth in cafe investments to begin with. If your eyes lit up at the CBD market potentially hitting the $7 billion mark in America, then wait until you hear what the coffee market is raking in. Are you sitting?
$90 billion! *spits coffee*
While that money may seem enticing, don’t go draining your bank accounts dry to open up a French cafe. The coffee market is booming, but that’s overall. This number includes buying whole beans and brewing at home as well.
Not to mention, coffee shops are a dime a dozen. They are popping up (and going out of business) on almost every other street corner. Plus, you are competing with global brands who have a never-ending amount of money (lookin’ at you Dunkin’ Donuts, Starbucks, and Tim Horton). Your heart may be percolating for a coffee shop, but it’s going to go into cardiac arrest when you try to open it up.
The Costs of Starting Up a Coffee Shop
They say to make money, you gotta spend money. When it comes to opening up a coffee shop, that’s a lot of money down that you need to spend.
Factors that will affect the cost of opening a coffee shop prior to ribbon-cutting day may include:
- City and State Taxes, Fees, and Regulations
- Rent or Mortgage of Building
- Licenses and Certifications for Building and Management
- Type of Business (Drive-Thru, Walk-Ins Only?)
- Equipment
- Employees’ Wages for Training
That’s a lot of money upfront. Undoubtedly you will need to take a loan out to cover all of these expenses. So, not only will you start off with debt on a mortgage/loan for your business, but also you’re in the hole to a bank charging you interest.
Figuring Out Potential Sales
The hardest part about opening up a coffee shop as your residual income source is calculating the potential sales for your cafe. In general, coffee shops are low ticket items with high-quality ingredients. With the growing palette of today’s consumers, they like better coffee for a cheaper price.
On average, 1.5 percent of people will stop at a coffee shop they drive by. Let’s say for instance you’re in a busy city. If you have 20,000 potential people driving by, you are looking at 300 a day spending money in your shop. Even if 300 people come into your cafe and spend $3.00 on a cup of coffee a day, you are looking at sales that average:
- $900 per day
- $6,300 per week
- $25,200 per month
- $302,400 per year
These numbers might make you jump for joy. However, this is assuming you live in a bustling area with 300 people willing to pay $3.00. If you live in a smaller area, this might not be feasible.
However, if you do live in an area where you can nab 300 patrons, the prices above don’t reflect paying back your loans, your employees, and the rent. It can take years before you will start to see a profit. That’s a lot of work for something that should take little time or effort like residual income.
Getting More Residual Income Out Of CBD Oil
The best way to get the most out of your residual income is to have fewer business expenses upfront. This is what makes promoting CBD oil far more effective than opening a coffee shop. For one, there’s no scoping out a building. You can do all the work inside of your own home and get started for under $100.
Secondly, the startup costs won’t put you into debt. Joining a CBD wholesale program is a great way to get CBD oil at a discounted price. When you purchase any product in higher quantities, suppliers will cut you a substantial break. That’s because, for one, they want to keep you as a client. However, you are also saving them money in shipping.
The more products you purchase at once, the cheaper it will be. At it’s best, you can get bottles up to 50% off each!
Why CBD Oil Over Coffee?
The least you'd have to invest is $69 to get started. That’s way less the most basic espresso machine! Plus, you don’t have to wait years for your return on investment. When you sell your product, you make your money. There are no debtors or monthly bills you have to pay. You’ve already paid for your product, you just need to sell it.
With that being said, you’re not stuck with it like a coffee shop that has a room full of beans and no customers in sight. That’s because CBD wholesale programs hold onto the inventory and take care of the shipping for you.
That’s right, you’re not using unopened boxed of CBD oil as your living room furniture. In fact, you never see the product. All you do is handle the sale at your convenience and the CBD wholesale distributors will take care of the rest.
CBD Oil as Residual Income
While coffee shops may seem like a great investment in the long-term, you can make residual income immediately and for a long time selling CBD oil. With the nation waking up to the many benefits of CBD oil, it’s time you wake up to the benefits it can do for your bank account.
You pick your hours, get an immediate return on investment, don’t hold onto inventory, and don’t need to take a loan to start. So...what are you waiting for? Why aren’t you cashing in on a $7 billion market right before the big boom?
