We’ve been writing about how to start a marijuana business for a little while now because we’ve begun promoting our online course which teaches people how to do this. The idea came about because both Sarah and I have done exactly this, and people keep asking us how we did it.
For many people it can feel overwhelming to start a business, let alone a marijuana business. We understand.
I certainly felt overwhelmed starting my marijuana business -- in fact, here’s an article from our local KP…
Did you see this Forbes article? It says a key committee has drafted a bill that effectively ends marijuana prohibition in the US, and as we write this, it’s making its way through the system.
So, we’re sure a lot of people are thinking, ‘Hey, maybe I should look into how to start a marijuana business.’
Well, you’ve come to the right place.
On November 8, 2016, 57% of California voters voted in favor of Proposition 64, The California Marijuana Legalization Initiative. This meant that as of November 9, 1996, persons aged 21 or older were legally allowed to use recreational marijuana, and the sale and taxation of recreational marijuana would become allowable on January 1, 2018. Prior to the passage of Prop 64, only medical use of marijuana was permitted in California, based on Proposition 215 (which passed in 1996).
"...but it's illegal"
I hear this a lot. Cannabis is, in fact, illegal and is a Schedule 1 drug according to the Federal Controlled Substances act. Despite this fact, there has been strong momentum in many states to provide legal access to cannabis, whether for medical or in some cases recreational use.
In addition to the incongruence between state and federal law, there are often inconsistencies between state and local law. This has an impact on operators that hope to obtain a license, as…
I have mentioned a few ways to get into the cannabis business. Today, I’m going to offer you another way.
It can feel a little intimidating showing up to a massive cannabis industry trade show by yourself, but in November of 2015, that’s exactly what I did. I drove out to Las Vegas, and went to the show.
MJBizCon is one of the largest cannabis trade shows in the US. I had heard of it, and was interested to see if I could get myself into it. Initially I didn’t have an agenda or a specific r…
My main motivations to pursue the cannabis industry in 2016 were threefold -
1) Ensure that legitimate needs for medical cannabis were met
2) Ensure that adult use roll out was safe and responsible (I could talk for hours about this...)
3) Pursue the inevitable economic opportunity that accompanies an inefficient and underdeveloped market, particularly in this case with a conflicting regulatory environment and very limited capital access.
However, when I decided to pursue the cannabis indus…
We get a lot of questions in the cannabis business, but the number one question Sarah and I get is, “how did you get into this industry?” so I wanted to take a few minutes and give you some ideas of what I initially did to break into it.
Break into the Cannabis Business
One of the first things I did was talk to friends, and friends of friends who were working in it already. I knew some of my friends were either growing, or using cannabis, and so I started asking them all about it. The main q…
“Congratulations XXX, you’re application to run a marijuana business has been approved and you are now licensed to operate in XXX “
For the past several months (or even years!), you’ve been working towards and waiting to see these words. You finally got through the process of obtaining your cannabis permit and you feel like you are at the finish line of a marathon….until you realize that the work has just begun! Running a start-up business of any kind is challenging, exciting, rewarding, and …