Hello!
I figured I finally want to give a go at having my own business and I had an idea recently to start my own hemp plantation, buy a c02 extraction machine, make CBD drops and later on potentially other products and sell them in the EU.
I am a Bulgrian national and own a small plot of land in my home city which is in the North West of thhe country, which has a climate suitable for a strain that is suitible for being processed into CBD oil. I already have a small starting budget of 10K Euro and my goal is to break even before I run out. I have more rural land for potential expansion but I would like to start very very small scale and ensure it is profitable before quitting my career to do this full time.
I am familiar with the logal regulatory framework but the one thing I struggle researching is the actual cost of processing biomass into cbd oil, into drops that can be packaged and sold.
Can someone please point me to some resources about people doing this on a small scale? Also, could someone with know how tell me if my calculations make any sense at all?
So what I calculated till now is:
50 plants with 20% CBD should equal to about 100KG of biomass when grown, I believe these to be conservative estimates. I would then process the biomass into 18KG of CBD Oil. Which I will then package in 10ml bottles with 20% CBD Oil and 80% carrier oil. This should equal about 9000 little CBD Drops bottles packaged an ready to be sold and the average price of one at local markets is about 80EUR,. I plan to then sell each drops bottle for 70EUR a pop which should equal about 630K in potential profits? Honestly this doesn’t seem realistic but I found very conflicting information online so far, I would be content with a much smaller profit margain since this is just from 1 harvest.
The greenhouse and farming equipment will cost about 3K Euro but I have no clue what a legit CO2 CBD Oil extraction machine looks like, from what I found online I can get a dodgy looking one for 5K from AliBaba but I’m not certain this is realistic. I don’t’ want to start with anything industrial scale but would like to be able to process 100 kg of biomass in a day or two.
I am fine with not breaking any profits for the first 2 harvests (years) but I would not continue if I do not beyond that. I appreciate if someone can tell me if my calculations are anywhere near reality before I research this with local experts as well. I plan to do most of the processing, planting and harvesting myself but I do not live in the same city or country so I will rely on paid laborers to go there in needs of emergencies, but local labor cost is very cheap (poorest region in Europe baby yeet). I can already make my own website to distribute this online but ideally want to sell it in bulk to big chains, my goal is to provide prices lower than the competition,which is mostly from abroad. I really just want to break even asap and grow this gradually with more equipment and land.
Thank you very much for your time and wish you all best of luck!