LOVELAND — A Loveland CBD manufacturer prepared the first shipment today of its latest product: Hand sanitizer with a touch of CBD.
How a business manages its inventory can have a tremendous impact on the financial health of the company. Managed properly, inventory can be a great source of increased margins, higher revenue, or a combination of the two.
Colorado Green Films Technology LLC has begun creating a hand sanitizer to offer for free to essential employees, who have no choice but to work during the COVID-19 crisis. The company also plans to sell the 4- and 8-ounce bottles to retailers, asking for the retail price to remain low.
Rich Crawford, co-founder and CEO of Colorado Green Films Technology, wants to provide essential workers, such as dispensary employees working curbside exchanges, with sanitizer because, “there’s such a big shortage out there.” Donations will start near the company’s base in Loveland and extend to Northern Colorado and Boulder Valley communities.
Though donating to local businesses is priority, the sanitizers will eventually be commercialized. The co-founder, David Currie, and Crawford are selling the sanitizers for $6 and $10, asking retailers to “not price gouge.”
“Really we saw the price gouging going on and that doesn’t fit our business model. I don’t appreciate it. I don’t think anybody does,” Crawford said.
Colorado Green Films Technology manufactures locally-sourced private and white label CBD, wholesale CBD and bulk hemp processing and will continue those operations. The company sells its topical products on its sister site coloradocarebydesign.com.
The sanitizers are a temporary product that will continue while Colorado grapples with the pandemic.
The small team of four, including Currie and Crawford, believe that they can yield 800 to 1,000 bottles a day, provided that materials are available.
Scott Birmingham, CEO of Mead’s Boulder Scientific Co. LLC, and Brad Stone, CEO of Timnath-based Bold Ideas LLC (dba: Bold Xtracts), aided Colorado Green Films Technology’s project. Along with other state businesses, they donated raw materials and packaging for the sanitizers.
The sanitizers consist of isopropyl alcohol, vegetable glycerin, certified organic lemon extract for scent and a small amount of CBD dissolute. Crawford said that the CBD is mostly for brand recognition, not topical benefits.