Brothers Jake and Judd Wolff are the co-founders of Thrive Flower, a company based in Philadelphia who takes pride in creating high quality and third-party tested CBD products serving both local and online communities. Their mission is to spread CBD awareness on how beneficial CBD can be for our bodies, minds and spirits.
In this episode, Jake and Judd share their inspiration behind Thrive Flower, how they are keeping their products at the highest quality possible and 100% compliant. They talk about one of the biggest challenges in this space, online marketing, and how live events can help with this. Stay tuned!
It’s definitely like having a passion behind your work and loving what you do. So like we both love being entrepreneurs, so that’s gonna cater to our life and our wellness as well. – Jake Wolff
Some Topics We Discussed Include
[2:56] – Jake and Judd’s background and introduction to CBD
[6:38] – Philadelphia’s reception to the CBD industry
[7:54] – Inspiration behind Thrive Flower
[9:24] – How they generated their local community following
[11:11] – The challenges they’ve faced in their first year and the roadblocks they’re up against now
[20:50] – The company’s mission and vision in the next 12 months
[28:08] – Some key pieces of advice to entrepreneurs looking at joining the movement
[32:26] – How they generated the resources that they needed in order to start and grow the business
[37:33] – Where to find them
People Mentioned / Resources
Connect with Jake and Judd Wolff
Connect with Sonia Gomez
Sonia Gomez: What’s up everybody this is Sonia Gomez coming to you from Denver, Colorado. This is another badass rock star Monday morning episode of The Hemp Revolution podcast. I’m your host Sonia Gomez and we are diving into the stories behind the products and the people who are pushing this industry forward ensuring that you guys have the access to the best and highest quality products and education and information that’s available on the marketplace.
If you are a client or patient or somebody who’s using these products, check us out at medicalsecrets.com for reviews and suggestions on which brands and products you can trust to deliver you the results that you’re looking for.
And if you are a budding entrepreneur or established brand and are finding yourself up against some significant roadblocks that are preventing your success or entry into the green rush, check us out of theemeraldcircle.com We are happy to help. With over 35 years of experience in this space there’s not many things that we can’t do.
In today’s episode, we are going to be talking to the founders of Thrive Flower CBD which is based out of Philadelphia. I can’t believe how widespread this industry is going so quickly. Thrive Flower is taking pride in creating high quality and the third party tested CBD products serving both a local and online community and their mission is to spread CBD awareness and how beneficial it can be for our bodies, our minds our spirits, and for our daily use and routine. Ladies and gentlemen, help me welcome. Mr. Jake Wolff, and I didn’t get the name of our partner.
Judd Wolff: Jake Wolff’s brother, Judd Wolff.
Sonia Gomez: Jake and Judd. I like it. I like it. The JJs. what’s up, guys?
Judd Wolff: [inaudible] It’s good to be here with you.
Sonia Gomez: Yeah, I’m excited to have you guys. Okay, so intros are all good and well and super fun but I love to hear straight from the horse’s mouth who are you guys? What have you been up to? And how did you find yourself in CBD?
Jake and Judd’s Background and Introduction to CBD
Jake Wolff: Well I found myself in CBD because John and I we’re big cannabis advocates. We actually heard about CBD a few years before the CBD boom actually happened as well as the Farm Bill. So we thought was a great idea to get into the business as well. We have two other co-founders that are involved in a class community. I don’t know if you ever heard of mayoral courts?
Sonia Gomez: Uhm, no.
Judd Wolff: It’s the courts nails used for dabbing concentrates and one of our founders is the founder of that as well.
Sonia Gomez: Okay, yeah, yeah, yeah.
Judd Wolff: Personally, I got into CBD after a rock climbing incident. I pushed my limits a little too far and fell off of a rock and really hurt my elbow. And it was like a year–
Sonia Gomez: I’m sorry you fell off a rock and hurt your elbow? I’d be like [inaudible]
Judd Wolff: Dragged all the way down. Just my elbow, they got hurt, nothing like too serious but inflammation was a big problem and anytime I would go to try to stretch I would like hurt myself even more. So CBD really helped me with pre-workout because it helped with the inflammation. So stretching was a little bit more effective and I just heard it at the rock climbing gym. I just heard so many people talking about lady really wow, how are you doing this? And then that was kind of my beginning into the CBD world.
Sonia Gomez: How old are you guys?
Jake Wolff: Well, I’m 25
Judd Wolff: And I’m 26
Sonia Gomez: Oh this is awesome. I love young hungry entrepreneurs, this is gonna be the best. Okay, so being on the East Coast, you have somewhat of a more– how can I say the traditional expectation of how you should approach success in your life. You know, out in California and us like West coasters were a little bit more liberal about how we can go about creating stuff.
There’s not as much pressure, this is– they’re like okay, great and you want to travel the beaches, on your fucking bike go for it, but like back east, they’re like you’re going to boarding school and granted, you’re going to go to an Ivy League school like the energy and temperature is quite a bit different. Did you guys go to college? Did you follow the traditional route and say, forget it. We’re going to start our own business. Talk to me a little bit about that.
Judd Wolff: I would say I agree with you on the traditional part of that, but I would say our parents, specifically our parents raised us pretty well and kind of open-minded going for what you want. We both did attend college. I started at Drexel University and then ended up transferring to Temple University on account of the money.
Jake Wolff: I’m playing college hockey at the University of Delaware. And then after that I majored in marketing and I got a lot of digital marketing background experience. And I was working for a digital agency for a couple of years before I decided I want to become an entrepreneur and use my skills to help promote our online market and as well as sales.
Judd Wolff: I actually graduated with an electrical engineering degree. I found the entrepreneur lifestyle a little bit better. And our mother, she owns her own clothing store and has for her home life. So I was like, where we really got an entrepreneurial spirit. She had a store where she was able to come home and we got home from work, I mean, from class and in high school and stuff. So really, she instilled all those values into us.
Sonia Gomez: Nice guys, that’s awesome. That’s not always the case. There’s a lot of folks who are just like completely pushed towards, you know, getting your degree and getting a good job and doing all of this stuff. And it takes a lot for them to tap into the courage or strength to start their own venture, especially in such a controversial subject. What is the temperature over there in your local community? I know you guys have built up a pretty strong–
Philadelphia’s Reception to the CBD Industry
Judd Wolff: I mean, in Philadelphia itself decriminalization of marijuana occurred I think it was like four years ago. In Pennsylvania, this medical and there are recreational bills being put through, CBD wise you can really find it anywhere. There’s a coffee shop, Saxbys is our main local coffee shop and they have it through where they have– There’s smoke shops offering dabs of CBD for reviews on the streets.
Jake Wolff: Yeah, it just started booming about a year ago here when we in signs of it everywhere. And that’s the exact time when we started working on our brand our company as well. We were like okay, we just entered the market a perfect time right now.
Judd Wolff: I will say though a lot of events that we do, a lot of maybe 45 and older crowd come up to us and we talk about CBD, they’re whispering to us like yeah, I smoke.
Judd Wolff: Oh, yeah, I smoke, too.
Sonia Gomez: So cute. Okay, all the Cougars are like coming into your booth here. They’re like, Hey, you guys got CBD. I love it. I love it. So just about a year ago, you guys entered into the marketplace and the landscape has changed quite a bit in just such a short period of time. Talk to me a little bit about your inspiration behind your brand. What was who was the person that you had in mind when you started to build your brand and formulate your products?
Inspiration Behind Thrive Flower
The market is completely saturated with a lot of companies that don't even provide these high-quality ingredients and don't even provide third-party lab tests or don't even put that much CBD on their product. -Jake Wolff Click To Tweet
Jake Wolff: Here in Philadelphia as well that we were working a lot within the beginning, they’re helping us get our feet as well. But we also went through the process of becoming 100% compliant, as well as create a high-quality brand, 100% transparent company, with the third-party lab test results, of course, because we noticed that when we are starting the market is completely saturated with a lot of companies that don’t even provide these high-quality ingredients and don’t even provide third-party lab tests or don’t even put that much CBD on their product. So we are striving to create that high-quality brand it was in our community as well.
Judd Wolff: I would say our target audience grew really rapidly. it started just with ourselves enjoying it, but then my mom was like, what’s this and she got off of Ambien using it. And then she talked to grandma and really like the demographic spread very quickly. At some point we were just targeting one specific person, we were just targeting quality wellness because everyone needs sleep, everyone has pain and inflammation so there’s a little difference of why they needed at that point but the reason like the way to approach it is the same.
Sonia Gomez: Nice. I love that. So, before we started recording, we were talking a little bit about how you guys had built up a really strong community following. And I also know that you have experienced in the digital space. So talk to me through a little bit about how you’ve been able to generate your local community following you know, how you what are some like the key strategies that you’ve implemented to generate cash flow in these beginning stages here because we all know that that’s the biggest challenge at the beginning of any business. So I’d love to hear from you a little bit about how you approached your local community and how you started to become you know, the go-to brand in your local community.
How They Generated Their Local Community Following
Judd Wolff: It really started with a lot of personal connections. As I said, we’re all the four founders of our company, me, my brother here, Jake and two other friends co-founders Kurt and Kolby. we’re all Philadelphia residents for like the past 10 years and we have great local connections we participate in the community volunteering and giving back and we have our we have even our local shops I have a dog store I’ve been going to for eight years and they were one of the first ones to carry our products.
Jake Wolff: And also whenever we get our products into a local retail shop we offer informational events like will actually set up a booth outside their shop. And we talked to passing by pedestrians and customers as well to educate them on the benefits of CBD and we’re like, hey, like you can actually purchase our products inside this local shop here, support local communities, you know, boost the economy. So that’s what we’re all about.
Sonia Gomez: I love that and I love the message of building in like support local. That’s a huge movement right now and I think one that’s underutilized by the CBD industry right now. You know the cannabis industry was super committed. They kept all the cash flow in the communities that they were growing in, but the CBD industry is much more money hungry. Or at least outwardly, at least outwardly.
So you know, there’s a lot of people are looking at the online strategy losing their hat because it’s very, very challenging to market online. Tell me a little bit about the challenges that you guys have faced in this first year, what would have been like three key challenges or even to what are some of the biggest roadblocks you guys are up against in growing right now.
The Challenges They’ve Faced in Their First Year and the Roadblocks They’re up Against Now
Jake Wolff: So I guess for online space, there are a lot of restrictions when it comes to online marketing for CBD like that with the FDA step. And also you can’t be advertising a lot of health claims. So a lot of our marketing is not specifically going making health claims. It’s more like letting the customer like, figure out how it can benefit themselves. But we also we educate them, but not to the point where we’re making like definite health claims. And as well as Facebook and other social media websites.
They’re very against advertising for CBD products just because everything’s so up in the air with it right now. So yeah, we’re very engaging on all of our social media platforms. That’s why like, we have such a high rated, like customer service rating.
Another issue I would say is timing and efficiency because there's a lot of not quality products on the market. - Judd Wolff Click To Tweet
Judd Wolff: And another issue I would say is timing and efficiency because there’s a lot of not quality products on the market. And so when we go into a new product, and like try to get rid of some products, we had the first test that ourselves and sending out for testing, then have all the labels and stuff made. But a lot of time we’re getting stuff that we think is going to be great, the price point comes and it’s great. And then we send it out for testing. And it’s not what we were told.
Sonia Gomez: So you guys have to go through a lot of quality control when it is
Judd Wolff: that takes it takes time, which is unfortunate because we want to service all of our customers and staff. So we really have to stock up heavy in order to account for all this time spent in quality control.
Sonia Gomez: So you’re taking on a pretty significant liability on the front end having to carry so much inventory and then get to buy yourself that bank of time to recover the investment, but then similar sort of having a challenge.
Judd Wolff: We hope– we think that we’re setting off that liability by having the quality products. And we do like a lot of analysis in what our needs are going to be in the upcoming months and quarters and stuff like that. So really we have a good idea of what we’re going to need. It’s just it is a balancing act, I would say. And something that didn’t come right away was something that we learned along the way.
Sonia Gomez: Yeah, totally. So even if you have a stabilized manufacturer, and I hear this a lot, actually, but even when you select a manufacturer and you love, you know how they do things and what they’re up to, and you find a product that you love, a couple things that I’ve heard as far as the supply chain goes, because what you’re talking about is stable supply chain, knowing that when you’re going to get a product that it’s actually the product that you purchased the last time and this is this, this ripple effect goes all the way down to the consumer because we talk a lot to the consumers.
We hear from their perspective, they’re like, Oh, this brand was working before but all of a sudden it stopped working. Is it me or is it the brand and then I’m like, Hey at you know it’s a combination of both. Now your endocannabinoid system is activated. Now you’re building up a tolerance to what you’re taking and you have to make adjustments to dosing, so on and so forth. But there’s also a real challenge in the supply chain. So what I’m finding is that even when you find a manufacturer that you enjoy working with, they are still having trouble with the sourcing aspect, which is what ultimately is affecting their formulations.
Truthfully, manufacturers are just formulators they have no people in there who are throwing shit together but they need to source you know, the raw material to be able to not everybody’s vertically integrated.
Judd Wolff: Yeah, we sell just hemp flour as well. So we understand the manufacturers trying to find quality flower and it comes and so like testing one is you’re not supposed to just test per value supposed to test per batch. So make like one batch of the top tools are requiring one batch to the gummies or something we’re supposed to test that and then when we get a new batch we have to test that as well.
The same thing goes for the manufacturers. So like just because you got a product good one time does not mean that it will be on point the next time. That’s why we really need to be vigilant about when products are tested and when they were formulated because you could see test results from 2018 for a product that was made in 2019. And that’s not the way it should be. And that’s why you see problems with quality.
Sonia Gomez: I love how you guys are building in the transparency ahead of time too. And I think a lot more companies are moving in this direction, but the fact that you’re doing it from the start really helps people to establish trust within your brand early on. So good job on that one. And the transparency I think is so super important because a) people have no idea. They have their– they think they’re smoking weed still.
Judd Wolff: A lot of retailers we found that by carrying products and really don’t know what’s in it. We ask them, do you have lab testing for this? And they’re like lab testing?
Jake Wolff: It’s actually shocking how many retailers that we talk to I don’t even know what it is.
Sonia Gomez: How many retailers? Are you guys distributing? And right now?
Judd Wolff: I think it’s like 40 or 50 or something like that.
Sonia Gomez: Nice! Guys wait a hostel it up? I mean, if you started a year ago, let’s be honest, it takes three to six months.
Jake Wolff: Yeah, so we actually started working on the company and last September and we didn’t fully launch our website till March.
Jake Wolff: Yeah, that’s what I was just saying is that it really takes three to six months. I’m in a high-level masters group right now and we’re three months then people are just like we’re not making money yet. And I’m like, nobody is. It’s hard to get started. You know, it’s really really hard to get this [inaudible]
Judd Wolff: It’s a snowball effect. my mom was asking when I’m gonna write myself a paycheck and I’m like, Mom, mom business first.
Sonia Gomez: Wait a minute you guys, that’s a really good question that your mom is asking you because I just fucking learn this, excuse my language–
Jake Wolff: No worries.
Sonia Gomez: Like I’m just 100% raw and real but I just learned this theory called the Power of Zero. And also what you’re training your mind and your business to believe about you from the very beginning and it really, really like somewhere in the ethers affects the way that your business is growing if you don’t pay your self and it increases the level of burnout too. So you have to get this book.
I swear to god I’ve talked about this book like four times in the last few episodes but I’m doing it again because it is so transformational Roger James Hamilton and The Millionaire Master Plan. The Millionaire Master Plan, not kidding order it off of Amazon. It’s an incredible, incredible book with really powerful tools in it around like how to build your business, your promotion plans, all of your stuff.
And I joined his mentorship program not too long ago and I’m looking we he has two meters of success. Two measurements of success. One is impact. And one is income. Now, income is distributed in, like your personal income, and then your company income. And when I was looking at my impact, I was like, Fuck yeah, we’ve impacted 50 million people in the last 18 months. And, you know, our metrics are off the chart. And then I’m like, cool if I had $1 for every person [inaudible] right? but that’s just not the case.
And so when I’m looking at those measurements, and I’m like, man, and he started to ask me some questions about like, Okay, great. You know, how do you pay yourself? When do you pay yourself? How much do you pay yourself? And I’m like, Well, I don’t everyone else’s paid my bill. You know, my business takes care of ABC and D. And so I’m good. And he’s like, No, no, you are not your business. Your business is something that you’re running but it’s not running you like you have to get paid for the contribution that you’re giving your business or the universe is not going to pay you and I was like No, stop it.
We’re bootstrapping like, this is nonsense and blah blah blah, no stop. I started to pay myself just a little bit like hundred bucks a week you know, whatever. There’s a little bit at it. I’m not even kidding you and he gave me like a schedule to follow. I’m not even kidding you my business started to make more money, I started to make more money, I was able to give people title and, you know, financial raises like I’m talking within the first three months. It was incredible to see the transformation.
So it’s an important question that your mom is asking you because what you how you show up is how the universe will show up for you. It’s just this unwritten law of reciprocity and the universe watches how you value yourself and therefore will put that value in front of you. And it’s absolutely crazy to think about it’s a little bit whoo, whoo, but I’m throwing it on the table because you’re Just young and sharp enough to grab hold of that.
Judd Wolff: As an engineer, I understand the equal and opposite reaction, you know? [inaudible]
Sonia Gomez: Yeah, yeah. I’m telling you what dude. And I was thinking to myself while he was telling you this, I was just like, this is bullshit. You obviously haven’t run a bootstrap business in a long time. But then I gave it a try literally with the intention to see the process fail, and it didn’t. So I encourage you. [inaudible]
Judd Wolff: Actually, I have the Power of Zero book up on my computer right now.
Sonia Gomez: Power of zero and The Millionaire Master Plan by Roger James Hamilton both like just–Yeah, quick on the purchase right there. Okay. As far as you got like, what do you see? What is your vision? What is your mission for your company in the next, say, 12 months? Where do you got what are some like milestones You said you take a lot of time in planning. What’s the next big milestone that you’re wanting to hit right now that will in 12 months you’ll be like I can’t believe we did this hell yeah let’s do it again.
The Company’s Mission and Vision in the Next 12 Months
Jake Wolff: So for one, we’re looking to open up our own brick and mortar store probably in centre city and maybe in the Rittenhouse area to get some foot traffic as well we’re aiming for the spring because once better weather they’ll be walking around and I mean and also we’re looking to update our product line as well. So we’re in the future we’ll be creating a like wellness targeted like CBD oil, tinctures, for example, so we’re going to have ones for sleep, for focus, for energy, as well as for pain and–
Sonia Gomez: functional
Jake Wolff: Yeah, for function.
Judd Wolff: We’re actually looking into doing a lot of events. So that’s something that we found to be really successful for us because one people are there to learn or to spend money and either way that’s good for our brand to spread information or to get capital.
Sonia Gomez: And you want to do your own events or do you want to like go to events–
Judd Wolff: a little bit of both. One of the events that we’re looking at doing is a CBD dinner in Philadelphia in which we’re going to have like a lot of people over and cook dinner and then we’re going to give all the profits to a local we’re looking at a few charities. my vote is for Morris Animal Refugees, a local refugee.
Jake Wolff: My mind has been for like mental health awareness.
Judd Wolff: You know no the reason we can’t do any of these. so that would be something we would do on our own takes a little bit more planning to do because we want to get like media coverage for that kind of thing to make it worth it, to get the word out there but other events wise we just got done doing the Made in Philadelphia Fall Market which is just a big market of all local Philadelphia brands right in front of City Hall. Big brand new upcoming is the Christmas Market as well. So pretty excited about doing all those.
Sonia Gomez: Oh, that’s amazing live events are like my ninja thing. I absolutely love it. My team is badass at putting the right people in the room and that’s actually one of the ways that I jumped started my business so I think it’s such a fantastic thing to weave in, especially right now.
One of my business pieces is a certification course and they teach a lot of my students how to go out into their local communities and host me every asked me anything and everything event and it’s like, it’s basically like a lemonade stand that they can host as a meetup where people can come in, they can pay or not, and ask anything that they want to know about CBD and cannabinoid health and phytonutrients, and blah, blah, blah, because that’s what I certify them and it’s been wildly successful.
I even have people like one of my students who is an ex fire chief of 25 years, is seeing just like incredible transformation in the communities that he’s serving by giving this education and is now starting to travel all over to get the same sort of advice.
Judd Wolff: Education really does spread word of mouth very quickly. That’s what we have an info booklet which is kind of just like a brochure that shows a lot of things that CBD does for you how it interacts with your body as well as the legality and stuff and we print thousands of them and hand them out just to people just know what they have some physical they’re handing it says what CBD is not just the internet or like your aunt telling you what it is.
Jake Wolff: all of our retailers have these info books as well. So it’s easy. And it also helps us like separate ourselves from other CBD companies.
Sonia Gomez: Yeah, absolutely. I don’t think like now I feel like more so now than ever and the industry’s been around let’s call it four and a half years or so. Now more than ever, the consumer is demanding more than just a product with a pretty label.
Judd Wolff: And they should be because there’s a lot of risk in taking products that aren’t– one of the main things we get asked is and am I going to pass the drug test? Yes with our products you’re going to because we do third party tests and make sure that the levels of THC are below the legal limits.
But I also tell them, even if you’re not buying from us and make sure to look for testing from other companies because you could get products that have we’ve we’ve recently we’re trying to source a new tincture and we love the taste of it. Send it out for testing and it came back at, like 1% THC when the legal limit is 0.3% THC. And a lot you know.
So some of you definitely need to be careful that for specific things like a drug test, you could lose your job or if you take a product that’s not legally compliant.
Sonia Gomez: Do you have a bunch of entrepreneurial friends in your circle? Are you guys–
Jake Wolff: Yes, our other co-founders or entrepreneurs as well? So we all feed off the energy and vibe of each other.
Sonia Gomez: Nice, but outside of your partnership? Is your friend circle, have you noticed that it’s changed or do you have a circle of friends who are also entrepreneurial?
Judd Wolff: So I would say my friends circle definitely has gone through some changes one just because a lot of us recently graduated college a few years ago so a lot of my friends have moved on moved across the country and things for different jobs, but none of them have their own business like this.
I will say though, a lot of people talk about doing business and then asks me for information, advice. What I’m doing so like, the thought of it is out there the action-wise, people have taken action is just I would say–
Jake Wolff: It’s all about when becomes a once comes to be being an entrepreneur, it’s a lot about the determination and motivation behind your words like actions speak louder than words.
Judd Wolff: A lot of people have seemed like they’re in business right now like my one friend is in medical sales. And he constantly talks about wanting to start his own thing, but I think he’s learning a lot at his current place and to do that, but I think a lot of what we learned was just being cannabis activists from the beginning.
Sonia Gomez: You’re like legalize it. [inaudible] I love it when my whole page is called Legalise it, Don’t Criticise It, that’s where we have our million followers. So I’m all about the movement. my story started as a patient and then I somehow barely graduating high school, never going to college and working as a hairdresser found my way into developing legislation that was legalized cannabis and owning and operating one of the first licenced dispensaries in the world and you know interfacing with 10s of thousands of people around the world.
So when I’m listening to you guys, I listened from the perspective of a patient but also a business person because I’ve walked both roads, right? And because of that human trail that I’ve been on, I’m like, always listening for the key things that I know are going to make a company successful, especially when you guys are still in your infancy. I mean, you’re to market what, seven months, you know, so it’s going to be a really, really, really exciting growth period for you guys.
How are you preparing for the shifts in compliance? I know that you guys are watching that really care right now, third-party testing, taking those extra steps. What are some of your key considerations for compliance and how are you preparing for it?
Judd Wolff: One thing we’re doing is we’re developing relationships with the actual testing facilities as well as legal experts who can walk us through sub so when it does come, we do have an idea of what we’re getting into. And we have the people on our side to accomplish the clients that we need.
Sonia Gomez: What are some, if you as I mentioned before that but before the show, we have sort of a mixed bag of the clients which in a moment, I’ll let you guys share with them where they can find out more about your business and your brand and try some of your products.
But speaking to the business, the people who are in business or who are looking at this, maybe there’s somebody in Ohio or Massachusetts or what or you know, someplace where it is not yet so prominent and they’re watching the green rush bud and bloom right now, what are some key pieces of advice that you could offer them and or considerations while they’re looking at joining the movement?
Some Key Pieces of Advice to Entrepreneurs Looking at Joining the Movement
Judd Wolff: patient wise or business-wise?
Sonia Gomez: business-wise.
Evaluate your community needs first off, see what kind of stuff is out there, what kind of stores carries certain types of products. And then from there, you can kind of get a feel of where you want to start. -Judd Wolff Click To Tweet
Judd Wolff: What I would tell people is, I would say evaluate your community needs first off, see what kind of stuff is out there, what kind of stores carries certain types of products. And then from there, you can kind of get a feel of where you want to start because you can’t just buy a bunch I mean it depends on your capital store you can’t just buy a bunch of products. We started with only three to four products and then that was based off of what we saw around us look you would want and then from and as well as some low market research online to see the most popular product like nationally. So we did like a combination of our topical products, which was something that he likes as in the rock climbing industry. We had a lot of people requesting topical products. And then we had a lot of people requesting tinctures. So we started with topicals and tincture and then the next step is in my dog store, I was like wow, you guys also have CBD, I have a dog, we all have dogs and we have dogs stuff.
Jake Wolff: It’s a CBD is obviously a tonne of smoke and glass shots as well. So that’s when we saw the CBD hemp flower as well as the vape pens going on. So We added that to our product line as well.
Judd Wolff: Another thing to consider them would be the lab test. But also liability insurance is another thing that I’m not required to have that but a lot of like for events and stuff that we do. liability insurance is required. And there are certain products that make it much much more expensive such as big pens with batteries already installed, like disposable vape fence, flower and stuff.
So a lot if you’re trying to grow larger, the insurance cost will come up at some point and that’s something you should keep in mind. And maybe even we’ve taught that we’ve been talking to insurance people since the very beginning finding out like if we take this step, what’s it gonna cost us in? insurance premium wise.
Sonia Gomez: Good, good, good pieces of advice. I like it. I think one of the golden nuggets that I would add on top of that is don’t grow and scale too quickly. I love how you guys started with just like I say this all the time to my clients pick three products. It doesn’t matter if you only release two, but if you start getting into like four or five, six products now you’re carrying the liability for all of this stuff.
And one of the things that kills businesses the fastest is over-leverage or overextending yourself and your resources and your team before you really have established distribution. So, I love starting with two or three core products that you can offer in combination or as a bundle and then go out into your local community and test the viability and interest-based off of your research.
I think a lot of people are just like, awesome gummies and vapes or the hot shit and let’s let them I’m going to make one too but I don’t think that they really think about like the ripple effect you start in your community and move out from there. So and every community is different based off of the population that they have there.
So, really understand where you are and what they are looking for. I absolutely love that piece of advice and grow slow.
Judd Wolff: definitely growing slow and being Visually like one thing that we learned along the way, we really had a need for the face, like we said, but so we were evaluating our needs and such. And when we end we’d like to focus on high-quality brandings, like really cool looking packaging and stuff.
So to do that, we have branded our pens have our, our logo on them and stuff like that. But all of these things have minimum order quantities. Like is you can’t just get one pen with your logo on it, you need to get 5000. And it’s definitely a large cost for something that you think will sell really well. And but then you’re buying a lot and how fast are you going to sell it then.
Sonia Gomez: somebody says, how did you guys access the capital? I know that that’s like when I asked the question, what are the challenges? Usually, it’s marketing, merchant processing and capital. capital is always like, we don’t have the cash flow. We don’t have this. We don’t have that to be able to do the things that we want to do. How did you guys, especially as young entrepreneurs, how did you guys approach getting the resources that you needed in order to grow and start?
How They Generated the Resources That They Needed in Order to Start and Grow the Business
Judd Wolff: We actually amongst the four of us, we all have our own. We had our own source of income prior to this one being mayoral courts, it’s courts company that sells dabbing concentrates. So we already had that source of income as well as a few other things that we have going on. So we put in a little money from ourselves, we raised a little money from family and friends. And then we also got a line of credit from the bank. And we opened up our bank account, they were pretty excited. We had a good connection with the banker because he already works with our other businesses. So he was like, Yeah, like, here’s some money. Okay. And that had its own risk, though. Financing charges, not getting money back to pay it back quickly enough. And then so without further that is something that we planned for, and we’re very careful with, we weren’t just spending the bank’s money willy nilly. It was things that we knew we could pay back quickly.
Sonia Gomez: you guys are primed for some incredibly significant. I mean, I’m waiting to hear the blood, sweat and tears that come in. into this whole thing and so far you’re like, Oh, yeah, like we got, we got this. We figured this out. And I don’t know if you guys have just [inaudible]
Judd Wolff: Very relaxed on CBD.
Sonia Gomez: We get high on our own supply right here. So but I mean even still you can tell– I had a friend of mine, a colleague who is doing, running multiple, seven-figure campaigns for CBD, and I call him a magic messenger. He is a copywriter for like sales copy and stuff like that. really, really talented. And he wrote this post and it said, People can smell commitment and they can smell desperation. And you can literally see in certain interviews that I have when somebody is like in a state of desperation and they’re drowning under the responsibility that they built around themselves. And you can see when somebody is like, you know, like a Spartan short up and ready to go. Short up and ready to go. They don’t care who’s coming like they’re ready and that’s you guys kind of have that Spartan vibe of where–
Judd Wolff: I will say that since being super involved with doing this company my personal health not just from like CBD use obviously I want to say that but I just personally I’ve been getting out working out more and connecting like out in nature more I don’t know if it’s something to do with me being productive for myself in my business that makes me productive for myself in my personal life. It has been a correlation.
Jake Wolff: It’s definitely like having a passion behind your work and loving what you do. So like we both love being entrepreneurs, so that’s gonna cater to our life and our wellness as well.
Sonia Gomez: I love it. Do you have girlfriends right now that are jealous?
Jake Wolff: I’m single.
Judd Wolff: I do
Sonia Gomez: You have a girl, is she jealous?
Judd Wolff: Jealous?
Sonia Gomez: Yeah, she mad at CBD for taking your time and attention?
Judd Wolff: She’s not mad at CBD she does sometimes to be like, Oh my god, you get to hang out with our dog while you’re out there making money and I’m– she’s in Marketing in a hospital time off wise and stuff is not something that she usually comes by. But when she does, I’m able to make the best of it with her.
Sonia Gomez: That’s so sweet.
Judd Wolff: We just got back a, actually a three week trip to Europe. We were in Italy and Germany, meeting some family that we had never met before over there.
Jake Wolff: Yes. It’s very cool.
Judd Wolff: Yeah, that was really fun.
Sonia Gomez: Family, I love that. [inaudible] I love it. I love it. You guys. This is so great. I can’t wait to follow up on your story and a couple of months from now and just see where you’re at after the fourth quarter. Like you’re going into your first fourth quarter in the market. How are you going to take advantage of this buying frenzy that we’re getting ready to go into
Jake Wolff: what we’ll do a lot of marketing when the time comes around for holidays or money spending.
Judd Wolff: We’ve started putting more money into advertising and marketing and stuff like that. And now we’re doing more professional shoots as well as we’re really pushing the limit on what we can do for events. But event wise when you have to do them, you have to pay for the spots. Some of them are like, wow, I can’t afford $5,000 for the booth, but now it’s something that you see from doing other events that have cost less and brought us in X amount of money that made it worth it. I wouldn’t say we’re–
Jake Wolff: We’re thriving, we’re thriving.
Sonia Gomez: We put cheese on that sandwich today. That’s good. I like it. Any final words for our actually where can folks find you and find out more about where you’re going to be and what you’re up to? Or if they want to try your product?
Where to Find Them
Jake Wolff: Yeah, definitely. We have a– you can go to thriveflower.com to check out everything about our company. We also have a blog section that so you can keep up on the latest trends in the CBD industry as well as us educating you about the benefits that CBD has to offer. And also find us on Instagram, LinkedIn, Facebook, we are very excited engaging with our customers and people who want to learn more about CBD so definitely follow us on social media @thriveflower and then on Facebook is at /thriveflowerllc. And then yeah, as well as keep up with our blog.
Judd Wolff: We love Instagram. we’re big Instagram users is like DMS us, we’ll talk to you will call you will tell you anything–
Jake Wolff: We respond very quick. So if you just want to talk to us we’ll talk.
Sonia Gomez: dating apps or dating applications or in a separate section ladies, so don’t get too excited. Okay, I’ve only got one free Wolff over here. So thanks so much you guys for your time today. I’m so super fascinated by your business can’t wait to celebrate more. For those of you who are tuning in today we have all of the links and all of the social handles are posted right here inside of the blog, including show notes and highlights from today’s interview. Make sure to check them out at thriveflower.com right?
Judd Wolff: Yeah and Instagram @thriveflower
Sonia Gomez: And Instagram @thriveflower guys check them out again the links are going to be all right here around this video. We hope you enjoyed today’s interview. This was another rockstar episode of The Hemp Revolution podcast. I’m your host Sonia and we’ll see you guys on our next show. Congratulations for all your success guys. Super exciting design.
Judd Wolff: design thrive on Sonia. Yeah.
Sonia Gomez: Thanks, guys.
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