From late nights in the kitchen to $500K in monthly sales: How this veteran-owned startup found the recipe for success in cannabis…
Edibles are outpacing all other cannabis products in sales growth, as consumers spent a jaw-dropping 60% more last year across the seven state markets tracked by industry analytics firm Headset.
Everything from chocolates, gummies, capsules, mints, hard candies, baked goods…
They’re discrete, can pack a punch in a small dose, and provide a smoke-free alternative to flower, vapes, or concentrates.
By 2025, edibles sales in the United States could reach as high as $8.24 billion, according to Statista. That’s a hefty portion of the projected $42.9 billion we expect to see from the U.S. cannabis market in 2025.
And being the savvy entrepreneur he is, Freshly Baked founder Philip Smith is already at the forefront of that wave – not just feeding consumers’ craving for edibles…but delivering his products right to their front door.
You met Phil yesterday when we shared the incredible origin story of his Massachusetts-based cannabis startup. He’s an Iraq War veteran who, in search for a more natural treatment for his post-traumatic stress disorder (PTSD), ended up starting his own cannabis business.
Freshly Baked now pulls in more than $200,000 per month, and it’s just getting started.
Today, it’s one of only two cannabis businesses with a delivery license in Massachusetts – a market that’s on pace to see $1.2 billion in legal cannabis sales this year for a remarkable 70% increase from 2020.
And Freshly Baked is at the very center of it all with an edibles brand consumers love delivered straight to their doorsteps.
Find out the unbelievable recipe for success that made this veteran-owned cannabis brand a Massachusetts favorite and find out where Phil’s taking his business next in the second installment of our one-on-one interview…
To your investing success,
Partner, RADD Capital
2 responses to ““When Everyone Said, ‘You’re Doing Too Much,’ I Said, ‘I’m Not Doing Enough.'” Meet the Veteran-Owned Startup Delivering Cannabis Straight to Consumers’ Doorsteps”
July 22 2021