18 Year Old Aspiring Entrepreneur with BIG Goals. Need Feedback on a Business Idea

[John2020]

I am an 18 year old aspiring entrepreneur and I would appreciate any type of feedback on this idea. I need honest and upfront feedback so if it's a good idea, say that, and if its complete shit, say that. Any Feedback is appreciated and any suggestions would help.

My idea for a business would be an online website or app that has to do with ordering cannabis online. This includes cannabis and other products that has to do with cannabis such as bongs, pipes, CBD pens, edibles, etc. You could order it online through the app/website and the website would be easy to use and straight to the point, looking like a professional website not some website with a ton of ads on the sides or weird designs. It would also tell you locations of nearby dispensaries and you could also customize your own strains, buy your own seeds for growing cannabis. I think it could be a good idea because when weed legalizes, the market on it will skyrocket. I also understand that everyone may be doing it, or there could already be a website/app that already does this. Any thoughts or suggestions?

 

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[Roli]

Hi John, welcome to the forum!

First of all you need to unpack your idea, you say you want to create a website for weed and weed products, so the number one question to ask is how do you plan on providing these products?

Are you going to have these products as your own stock? Or perhaps you will act as an aggregate site for other suppliers?

Next you need to work out what is going to be special about your site, because this idea will ultimately have a very low barrier to entry, pretty much anyone will be able to set up a site like this.

You should also start off any idea you have with some research, of course dear old Uncle Google can give you a lot of ideas, and show you what others are doing.

I would suggest searching for Amsterdam seed shops, weed, and paraphernalia and having a look at how they do it over there.

Once you've answered these questions, then you can answer the main one which is; how much money can I potentially make from this?

I think the main ways of making money from weed once its legal in your country or area, will be from growing and processing. THC vape pens are already huge over here (UK) and it's not even officially legal yet.

As for your idea, it could be good, however like I said, you need to unpack it a bit more before anyone can properly assess it.

 

[Tourmaline]

Trump could end up removing the federal prohibition on marijuana which will let states decide if it's legal in their state or not. So perhaps this will pan out. But until then, you're stuck with selling CBD.

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There's a lot of established competition. We also have a Fastlaner that is successful in the CBD industry and he has been in it for while, and we've seen many talk about CBD as well.

This is interesting too, I heard very little about this! Hemp is already legalized in the USA which is a big precedence and great imo, hemp is really a great textile.

Hemp is now legal in the U.S., so what does that mean for pot companies?

Industrial hemp is now legal in the U.S., which could eventually loosen laws around the popular marijuana extract CBD.

www.marketwatch.com

Either way, welcome to the forum, and I wish you the best in finding a business to set you towards the fastlane.