Cannabidiol, or CBD, is beyond the next it product. It is one of the biggest economic drivers in recent years and is revolutionizing agriculture, the health and beauty aisle and product delivery services. It takes innovative thinkers like former lawyer Allison Scollar to help new enterprises in this burgeoning field move forward in a competitive landscape.
A 2019 study of the CBD market by Cowen & Co. estimates revenue from the CBD oil market will reach $16 billion by 2020. Of 2,500 people polled by the study, 7% were already using CBD products, and that percentage is expected to skyrocket as product availability increases.
Allison Scollar’s legal background left her uniquely poised to act as a consultant in this emerging industry. CBD products face unique regulatory issues and scattered legal frameworks across the United States.
Today, Allison Scollar works as a consultant with various companies, including multiple emerging businesses in the CBD field. These include a firm focused on new CBD delivery methods, such as a thin film CBD product. Allison Scollar said the firm is also working on a CBD oil based energy strip.
A second client is set to streamline delivery of CBD products. Allison Scollar said this partnership is focusing on vending machine development specifically for CBD-based goods.
“They are smart machines,” Allison Scollar said. “For example, if the machine does not have the right product in the machine, it can be shipped next day wherever desired.”
Allison Scollar says the machines are a great concept for gyms, national yoga studios and other facilities with a high concentration of CBD oil enthusiasts. Many athletes use CBD oils or softgels to relieve aches and pains and promote restorative sleep. By meeting the consumer where they are, the vending machines can help boost customer access in a more accepting zone.
For Allison Scollar, focusing on CBD product innovation is only the latest step forward in a life spent on the forefront of groundbreaking issues.
In her spare time, Allison Scollar supports artists with real estate related services and acts as a board member for the Concert Artist Guild.