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Gunhee Park and ASU Grad, are the founders of Populum, a Tempe-based company that produces hemp-based CBD oil, capitalizing on a trend of well-being while fighting the idea that hemp is the same thing as marijuana. Today, this 2 – year – old company is distributed nationwide and is expected to generate a $ 1 million business figure this year.(Photo: Nick Oza / The Republic)
When Gunhee Park hears skepticism about the powers of hemp oil, the founder and owner of Populum, a CBD hemp oil company, understands skeptics well.
When Park envisioned the opportunity to add it to its basic diet of supplements, online searches have led to wacky claims and family-friendly stores promising suspicious miracles. As a student, he was quick to believe it.
"It's easy to be skeptical, and I was the same," said Park, a 2014 graduate of the WP Carey School of Business and Barrett, the Honors College of Arizona State University.
But Park decided to try CBD oil. After several weeks of daily intake, he noticed a general improvement in his well-being, including better concentration during the day, a deeper sleep at night and a feeling of calm during work-related anxiety. in the business world.
His mother provided another convincing case. A passionate hike all her life, Park's mother developed an inflammation of her knees and ankles that ultimately prevented her from doing what she loved. After taking a tincture and topical application of CBD oil for several months, she was able to get back on track.
During his stay at the ASU, Park learned that hemp was used for health. But his personal results triggered a professional adventure. While Park was about to graduate, hemp was deregulated. The timing seems to be on the side of the budding entrepreneur.
"Through this beneficial experience for me and my family, I thought people would benefit as well and that it was a good opportunity," said Park, who launched Populum based in Tempe in 2016.
Populum's inventory is composed of oral dyes – the most popular item – a topical gel for cold treatment and a pet version. Populum is primarily an ecommerce business with the majority of sales coming from its website.
Clients seek relief for problems ranging from insomnia and anxiety to chronic pain and joint problems such as arthritis, Park said. Pet owners give it to their furry family members to help them overcome anxiety caused by their separation or external conditions such as storms or common problems in their older pets.
Since CBD, or cannabidiol, is derived from hemp, public opinion considers CBD and marijuana to be identical. Most of Park's work is to explain the differences: hemp is a marijuana strain that contains very little trace of THC, the ingredient that creates the "high"; hemp is grown in open fields and not in a controlled environment that ensures the concentration of THC; it does not induce psychoactive effects; and its components, from fiber to seed, can be used as food, supplements and clothing.
"There are many misconceptions and stigmas of hemp because of its links to marijuana," Park said. "We wanted to create a modern and accessible brand that helps break the stigma associated with hemp and introduce it into the traditional market."
These links also prevented Park from making conventional marketing in formats that affect a large portion of its target audience, as social media and online sites bundle hemp with marijuana and suppressed these ads.
Despite these challenges, Park's start-up generated $ 500,000 in its first year of operation, he said. This year, it should more than double that figure with a turnover of nearly $ 1.4 million. Its subscriber base, which initially had fewer than 50 employees, now has 400 active subscribers per month who receive Populum products delivered to their homes.
The Tempe headquarters is supported by an operations office in Omaha and members of the team in New York, Austin and Chicago. All hemp is grown in Colorado.
Park used industry blogs, review forms and similar places to get the message across. There is also a referral program.
The dyeing version ranges from $ 70 to $ 200 a bottle. Offering a 30-day risk-free, risk-free trial that offers unsatisfied customers a full refund has been a major asset in attracting newbies, Park said. This policy also allowed repeat customers to recommend it more easily to their friends.
Online access that does not require the regulation of marijuana for medical purposes is also helpful, Park said. Anecdotal evidence from articles, studies and online contributions from health professionals has reached a population that is open to the benefits of cannabis, without much value.
"There are many misconceptions and stigmas of hemp because of its links with marijuana," said Gunhee Park. "We wanted to create a modern and accessible brand that helps break the stigma associated with hemp and introduce it into the traditional market." (Photo: Nick Oza / The Republic)
& # 39; On Populum, I feel that I can be me & # 39;
Maia Costello, a member of Populum, is one of them. In 2017, Costello looked for options that did not cause side effects to cope with his severe anxiety and depression. His research led to CBD formulas and eventually to Populum. Like Park, Costello was not easily convinced.
"I thought it sounded like snake oil. But I was willing to try anything that would constitute an alternative to prescription drugs and side effects, "said Costello, who lives in Atlanta.
She ordered Populum tincture and, after five daily doses, she noticed a difference in mood. But when she gave it to a hospitalized friend, whose immunity was compromised and who was about to die, the results sealed it.
"We were expecting this person to go soon and my friend started eating again, the pain went down and my friend slept better. They came back to life, in a way, "said Costello. "So, I was a full believer."
Costello said she's been taking prescription medications for depression for more than half of her life. She is no longer on any of them. Understanding that she was not going to have any side effects helped her to take the step with CBD oil. These same reasons maintain it today.
"I did not have the cravings. I did not fall on my sofa and I did not want to do anything with my life. Honestly, I feel better taking Populum than I have ever felt with any medicine. I felt blah on these drugs. On Populum, I feel like I can be me, "she said.
Once, a bottle was missing from one of Costello's shipments. An hour after contacting Populum about this error, she was advised that a new bottle had been shipped to her.
"They provide a customer service that you do not find much these days. This is another reason why I have been so faithful to them, "she said.
Driven by first impressions
Park was a high school freshman when he emigrated from South Korea to the United States. He settled in Omaha and then attended Arizona State University.
While striving to introduce and destigmatize the benefits of hemp oil, Park has created a company in a $ 2.1 billion CBD market in consumer sales by 2020 , according to the Hemp Business Journal. In 2015, the market for retail sales of CBD products derived from hemp was $ 90 million.
Populum donates to several local charities, including Empowerment Systems, a non-profit organization based in Apache Junction that offers health education and wellness programs. Populum offers veterans a 25% discount under the Veterans Assistance Program.
His early memories of the CBD oil industry and unscrupulous merchant claims remain with Park as he tries to fight them.
"This first impression is what motivates me. I do not want to add to this reputation, the stigma or the fact that it is a magic pill, "said Park.
When asked, Park makes sure not to take liberties by paraphrasing customer comments. He does not want to be considered a brand that makes outrageous claims or can replace prescription drugs, which is not his goal.
But that does not mean that its customers do not meet these results.
"The most sincere testimonials come from clients who can not sleep because of pain-related problems, and hemp CBD oil helps them sleep well at night. Some customers are able to wean a lot of pharmaceuticals, "said Park. "This is what drives us to continue to meet all the challenges we face. Knowing that there are customers with whom we have made a significant difference in their lives. "
populum
OR: Temple
EMPLOYEES: ten
INTERESTING STAT: According to a Global Info Research study, the global market for CBD hemp oil is expected to grow at a compound annual rate of nearly 31 over the next five years, reaching $ 760 million by the end of this year. 2023.
DETAILS: 855-872-2772, populum.com
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