Start-up Society #97: Tranquilease
Keeping the American Dream Alive
Welcome to the 97th edition of Start-up Society! This blog highlights some of the most exciting start-ups in the country striving to keep the American Dream alive.
Make sure you check out the previous issue, if you have not already, here!
Another double feature! Or in this case, a joint feature. Make sure you tune into today’s episode of Meet the Entrepreneur #21, because you’re ganja have a good time. The Start-up Society team sits down with none other than Alexander Marohnic, Founder & CEO of Tranquilease Premium CBD Products. Watch as Alexander walks us through his start-up journey and how he is growing his business in the budding CBD industry.
This article provides a summary of the conversation. For the full details, tap into the podcast here!
What is the goal behind Tranquilease?
Alexander discovered CBD his freshman year of college as a tool to help mitigate anxiety. The goal is to introduce as many people as possible to the beneficial factors of CBD. The help it provides individuals for chronic physical pain and mental illness is something Alex has seen first hand. Although it is important to note that the FDA has yet to substantiate these claims as medical facts, there is a ton of anecdotal evidence (see Health Benefits of CBD)
How did you know you wanted to be an entrepreneur?
It has always been of interest to him. At 6 years old, Alexander sold quartz rocks on the street and has always leaned towards being independent and working under self-direction. Owning how the customer experiences a brand and owning a his own schedule are both top priority to Alexander.
What is the overall vision for Tranquilease?
It definitely changes over time. There is constant pivoting and adapting products to what the customers are interested in actually buying. In the near term, while building the business, focusing on general access and getting that initial product-market-fit is priority. As Tranquilease grows, involving more medically minded individuals (Pharmacists, Doctors, etc.) to increase access to higher ends of CBD treatments & come up with new pharmaceutical products is the long term goal.
How are you sourcing your products?
Most of the supply comes from a farm in Vermont and is shipped to South Florida. In South Florida, CBD brands and supply were limited and low quality. Alexander wanted to enter this market with high quality and better priced goods. He does not want price to be a barrier for people.
In addition to CBD Flower, Alexander is also broadening his reach by offering other products such as Delta-8.
What are some of the biggest challenges you have had to overcome?
Regulation differs per state, so managing the whole business on his own can get tough. Google, Bing, Facebook, Reddit and lots of similar companies do not allow advertising of consumable hemp derived products. Mastering SEO has been a great source of business and is very valuable.
Care to debunk any common myths about CBD?
The common misunderstanding is that CBD is an illicit substance/recreational drug, which is ridiculous because it does not get you high. Federal legalization is going to introduce a more relaxed and open outlook on the substance. Even though CBD is not approved by the FDA, there are many primary sources that point to CBD as a solution for many ailments including anxiety and arthritis.
Any thoughts on the legalization of Marijuana in general?
It’s tough to say given the conservative nature of the Supreme Court. We just saw Roe v. Wade get overturned, and same sex marriage could be overturned next. However, we have seen both conservative and liberal majority states poll in favor of legalization, it is up to the politicians to listen to the people.
Any other interests or hobbies?
Alexander is a huge music fan. He has played guitar, piano and sang since early on in his life. He loves classic rock & jazz music. Some of his favorite artist include John Denver, Kenny Loggins, and America.
He has even started a new TikTok account for his singing! Make sure to follow him @AlexanderMarohnic5
Tell us about your international experiences and its impact on your business goals
I did a gap year before I went to college and lived in Russia for 4 months, which was amazing. I have travelled around Europe and one of the long term goals for my business is to start selling CBD in Europe. There are varying laws in Europe with a more open attitude towards the subject. There are a handful of companies that are looking to get involved in the European market as the space matures. This is definitely a market that I want to get into.
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Authored by Arteen Zahiri, Rumeer Keshwani, Elham Chowdhury, & Julian Ramcharan
