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HOT TOPIC Marijuana entrepreneurship; industry discussion

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I've never grown cannabis before but unless I'm missing something special that happens in the process I'm fairly certain a college horticulturalist graduate would gladly love the same opportunity for much less. And frankly as a business person I'd likely be much happier hiring an "on the level" employee vs one who was comfortable breaking the law en mass for years.
Think about it this way, most of the successful farmers left in the US are not college graduates, there individuals born into farming. Growing medical grade marijuana on a commercial scale is 1,000x harder than you think it is, it's takes a trained eye to run a successful crop from seed to bud.
 

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IGP

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Think about it this way, most of the successful farmers left in the US are not college graduates, there individuals born into farming. Growing medical grade marijuana on a commercial scale is 1,000x harder than you think it is, it's takes a trained eye to run a successful crop from seed to bud.
It's actually not that hard at all... It does require capital to set up, but the actual growing with hydroponics is relatively easy.
 

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It's actually not that hard at all... It does require capital to set up, but the actual growing with hydroponics is relatively easy.
You are right, assuming your growing less than 20 plants but that's not what this thread is about. It's about growing medical grade marijuana on a commercial scale.
 

Brian C.

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I'd like share some of my opinions from my perspective.

1. In Colorado, I know of a Veteran run business that collects money for these dispensaries. The company only employs veterans. They are like the Brinks of marijuana. Guys pop out of an unmarked Suburban armed with AR15's, collect the money from the dispensary, and then bring it back to their company for safekeeping. Very lucrative given the current political and financial climate, however, not likely long-term as the financial fiasco will likely be sorted out eventually. Maybe?

2. My college had one of the best agriculture programs in the country. Many of the students I talked to that majored in Agriculture think of growing marijuana as a dream job. Some, not all. People involved in agriculture can see the opportunity in marijuana just as much as the businessman. They understand the plant and recognize its possibilities (medicinal, recreational, etc.). They know they will be a vital resource given the current movement towards legalization.

3. I think there is a MAJOR opportunity in growing. LED lighting has changed agriculture forever. Massive indoor growing facilities are now a possibility. I think you will see plants in addition to marijuana being grown locally by this method. Think of the growing demand for locally sourced food products. There will be a major opportunity here, as businesses find more cost effective methods to grow locally. Sourcing food is becoming less and less practical due to geographical distances; who wants their food in transit for weeks at a time? Solar has also reduced energy costs for these growing facilities.

New industries come with many possibilities, but always with more questions unanswered. The marijuana industry is the epitome of questions unanswered.
 

ArcherCarmic

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Personally, I think a classy, upscale-looking brand geared towards the hard working 9-5 average Joe would do well.

The current pot culture revolves largely around the immature teenager and early adult. Tie dye, pot leafs, Marley, exotic glass blown pipes and wild looking bongs, etc...

When weed gets legal there will be the "hahaha, this is crazy" transition period but I honestly feel when the dust settles you'll have millions of "me too!" sellers competing in the "stereotypical pot culture" space and very few sellers creating high quality, simple, "working class" products. Adults looking to unwind after work don't want to feel they are "playing teenager" holding a giant multi colored glass bong or a pipe with a bikini clad lady on it.

Look at Vig's link to openvape - that is what I envision the future of weed to look like. Plain, black, classy, and in a word - "adult".
@JAJT
I was doing some research, and came across this.
https://www.indiegogo.com/projects/apothecarry-case-4-strain-herb-storage-solution-marijuana-innovation#/
 

dkranks

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How's it going everyone. I'm new to the forum so I don't know if this is the best section for this question or not. But I was just wondering if anyone on here is a part of the Marijuana industry? No matter if you are just working in the industry, already have you own business, or waiting on the sidelines until it becomes completely legal. I believe the Marijuana industry will be one of the biggest and now is the perfect time to get started. I have ambitions to get onto the industry and was wondering of there were any like minded individuals feeling the same way.
Are you looking for business partners or business tips? There are a lot of considerations when starting a marijuana based business. I think the first place to start is to draft out a business model canvas and a business plan. There's a good article on how to write a plan for a marijuana business I found (https://legallyrooted.org/blog/write-business-plan-medical-marijuana-business/) It even includes a business plan template that you can take a whack at. Let me know if you have any questions or need any help.
 

AlexCph

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Using the sell shovels analogy, what about supplying stuff that is needed for growing weed?

What are some of the major components needed that need to be replenished at a high profit margin? I don't know much about growing weed but is e.g. fertiliser needed? You could set up an e-commerce store that helps you start your own marijuana growing business :)
 

RahKnee

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I've identified a few needs for this industry, and I toy with the idea of filling them. But the potential for the federal government to decide that everyone involved in the industry is guilty of narcotics trafficking and money laundering, on a whim, has stayed my hand for now.
 

Bamcis

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I think the majority of this thread has been about the growing and dispensary industry. There are a lot of other options out there as far as MJ goes. Over the summer and start of fall I've watched my KSHB stock hit +40% returns. These guys are huge in the packaging and branding for the MJ industry. If you've been to a dispensary (or smoked) you have seen one of their products. They produce child-proof containers, bags, and other smoking accessories. Just saying, you don't have to be a farmer or B&M dispensary to make money in this industry.

Another avenue down the cannabis road is Hemp. For those unfamiliar, hemp is like the sister plant of MJ and will NOT get you high... Currently there are some 20+ states that have approved the use of industrial hemp for growing, processing, and manufacturing. The federal government is also working on possibly reclassifying hemp. The US is one of the only developed countries not exporting/growing hemp. We stopped in the 20's-30's. I've been reading more and more about hemp lately and decided to invest in Hemp Inc. They should be opening the largest processing plant in North America soon (hopefully...) and this will be in North Carolina (one of the states who have approved industrial hemp). Just keep hemp in your minds too. It can be used to make all sorts of stuff. I would also imagine in the future it would be easier to operate a business using hemp rather than MJ.

Bamcis
 

Sheps

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I'm curious if opinions have changed on Cannabis as a biz seeing as how recently Marijuana won more states than Hillary.
 

Mac

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Billowby is another "marijuana" startup that's evaluated at over $50 million. They're the self-proclaimed "Zappos" headshop.
 

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Michael Burgess

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Huge potential in MMJ!

I dug this thread up because I'm doing some work with a fellow getting into the industry as a shovel-seller.

The person I'm working with started a tree farm on an amazing piece of property in my town, and I'm taking over that tree farm to expand my landscaping company. What's interesting is he's used fabric growing bags to produce his trees, which:

• Improve plants growth speed
• Improve the health of the plants root system
• Make the trees root ball significantly lighter and easier to manage
• Moderate the temperature of soil, instead of heating up too much (like plastic pots) causing plant stress

His plan is to manufacture and distribute these bags... primarily to MMJ growers. It looks like the cost on a wholesale basis will be pretty competitive with plastic pots, but offers much greater benefits to the producer. I'll be helping to reach out to growers, send samples, and see what the interest is like within the Canadian industry.

If anybody's interested, I'll follow with some updates!
 

MJ DeMarco

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I can guarantee you in a few years, the newsworthy in-vogue millionaires will be marijauna entrepreneurs, just like the dot-com boom, the app boom, the self-pub boom, and the game boom.
 

thinkandgrowrich

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How do I prepare for when Marijuana becomes legal in my state?

It's going to be crazy, this is a billion dollar industry that is about to come into fruition
 

juan917

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How do I prepare for when Marijuana becomes legal in my state?

It's going to be crazy, this is a billion dollar industry that is about to come into fruition
Not guaranteed, no one knows whats going to happen with the new administration. Sessions is very anti-mj
 

thinkandgrowrich

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Not guaranteed, no one knows whats going to happen with the new administration. Sessions is very anti-mj
I don't know, the legalization of marijuana is more of a state issue than it is a federal issue.

The state I live in has been historically socially conservative, espiecially on issues like this. But in the last 5 years things have been changing dramatically.

We'll see, either way I wanna be prepared for when it finally does happen.

The marijuana industry is going to create a lot of millionaires.
 

Shades

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Not guaranteed, no one knows whats going to happen with the new administration. Sessions is very anti-mj
Its already been said many times by Trump that its a state issue. I actually think the next 4-8 years is prime time to make a push for federal legalization. Trump is a populist. If the issue keeps gaining steam, which as we saw this election around the country it is, and the economic case is made....I think theres a good chance for it. Its the new gold rush industry someone like Trump will be looking for. What the cause needs is the right messengers with the right message.

As for Sessions, its pretty much irrelevant. Hes not going on a anti weed march across the country when Trump has a opposite view.

One to keep a eye on is the FDA. Hope that Jim O’Neill is the pick there.
 

Bearcorp

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Huge potential in MMJ!
If anybody's interested, I'll follow with some updates!
Look forward to following your updates, it will be interesting to see how it plays out in Australia, a company in in Adelaide are having trouble getting Government approvals which is nothing new here!
 

Brian C.

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Buy some land and start a nursery. Once it's legal you're all set.
It's not that easy.

My state (MA) just legalized recreational marijuana, growing, etc.

On October 1st, our state will begin accepting applications for cultivators, product manufacturers, etc. It costs $3k to apply. That's right, $3k to even be considered. Applicants are sorted based on experience (think medical marijuana) and if they're lucky, they receive one of the 75 licenses available. There will be a maximum of 75 manufacturers until October 2018, and a max of 75 cultivators until October 2019. Oh yeah, and the license itself costs $15k.

Capital outlay is HUGE. Overhead, licensing, the property itself - it's a massive barrier to entry. So big in fact, that I've started to contact growers in Colorado, who might be able to offer advice as to the process and acquiring the necessary capital. Perhaps I'm wrong, but I don't think banks will be dishing out loans to commercial growers, especially with the federal position in limbo.

In the back of my mind though, I think marijuana could follow a path similar to tobacco. Since marijuana is classified as a schedule 1 drug, government testing is inconclusive. Don't get me wrong, I enjoy marijuana from time to time, but lighting something on fire and ingesting it cannot have ONLY positive consequences. I'd hate myself if I produced something that had adverse health effects for the consumer. But that's beside the point.

Bottom line, it's not that easy. But with big barriers to entry, come big opportunities for massive success.
 

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MidwestLandlord

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Don't get me wrong, I enjoy marijuana from time to time, but lighting something on fire and ingesting it cannot have ONLY positive consequences. I'd hate myself if I produced something that had adverse health effects for the consumer.
I know a guy that sells weed in Colorado. He owes me money haha.

He sells edible's like crazy, because of the unknown health effects of smoking weed AND because people want to be able to go back to work without smelling like weed.

Edibles and liquids (THC ejuice) is where most of his sales growth comes from.

Edit: Edibles are especially popular with women. Namely chocolate. A smart retailer would somehow get women to replace wine with weed for their evening routine. Huge market, much like when cig's were first made cool for women by that marketing genius who's name I can't remember back in the 1920's I think.
 
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jon.a

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...much like when cig's were first made cool for women by that marketing genius who's name I can't remember back in the 1920's I think.
"Torches of Freedom"
Edward Bernays
 

juan917

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It's not that easy.

My state (MA) just legalized recreational marijuana, growing, etc.

On October 1st, our state will begin accepting applications for cultivators, product manufacturers, etc. It costs $3k to apply. That's right, $3k to even be considered. Applicants are sorted based on experience (think medical marijuana) and if they're lucky, they receive one of the 75 licenses available. There will be a maximum of 75 manufacturers until October 2018, and a max of 75 cultivators until October 2019. Oh yeah, and the license itself costs $15k.

Capital outlay is HUGE. Overhead, licensing, the property itself - it's a massive barrier to entry. So big in fact, that I've started to contact growers in Colorado, who might be able to offer advice as to the process and acquiring the necessary capital. Perhaps I'm wrong, but I don't think banks will be dishing out loans to commercial growers, especially with the federal position in limbo.

In the back of my mind though, I think marijuana could follow a path similar to tobacco. Since marijuana is classified as a schedule 1 drug, government testing is inconclusive. Don't get me wrong, I enjoy marijuana from time to time, but lighting something on fire and ingesting it cannot have ONLY positive consequences. I'd hate myself if I produced something that had adverse health effects for the consumer. But that's beside the point.

Bottom line, it's not that easy. But with big barriers to entry, come big opportunities for massive success.
There's always a first step, which is learning how the process works.
 
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Richie Arnold

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This is definitely a growing business. Just this past decade a new way to smoke "dabbing" has started to become popular. Im sure plenty of businesses cashed in on the oil rigs you need to smoke the THC wax. There's so many trends and possibilities that could arise with the legalization.
 

Michael Burgess

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For what it's worth....
(Someone who isn't me)'s first business was selling pot back in high school :rofl:. It started out as a way to just help friends get bud without having to go through sketchy and unreliable suppliers... and then he realized it was a really simple way to smoke for free.

At some point, he had way more pot than he could smoke, which is when an entrepreneurial seed was planted.

In a lot of ways, it actually was incredible business training; finding and negotiating with suppliers, managing customers, marketing, understanding profit margins, logistics, and so much more. Obviously selling drugs is disconnected from real world business in a lot of ways, but selling pot was a fundamental step in his business progression.

It showed him that your income doesn't have to be related to your time, and that options existed beyond "just going to university and getting a job".

Don't sell or use drugs kids :fistbump:
 

JAJT

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It's about to become legal here in Canada, federally and for recreation. This year.

Dispensaries are already jockeying for position and selling their product loosey-goosey to anyone who walks in (and not just medical, like they are supposed to until the law goes through). They've been getting shut down and raided left and right every week but I'm assuming they all want to gain market share before the flood and are taking that risk.

One thing I've seen people getting into are the extracts. Specifically stuff made with Butane. From my understanding you can make very similar products with CO2. I know for a fact they already do this with hops for beer (co2 hop extracts using basically the same method - hops are very closely related to cannabis). Personally I think if someone came in, advertised similar extract products made with harmless CO2 instead of a combustible and harmful gas as the solvent, and and sold it to the retail chains, you'd make a killing.

(I have no idea if CO2 extracts are already popular, I've only ever heard about the butane ones. I'm not really into the "weed scene" so to speak)
 

Brian C.

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It's mind-numbing thinking about the possibilities in regard to marijuana.

I built and sold "stealth" grow boxes a couple years back. Essentially a regulated, silent, odorless environment where you could grow marijuana without anyone being the wiser. Yields in 4-5 month range. Sold a few on eBay, but ran into issues with shipping. Now that it's legal in MA, I'm thinking about operating again as a side business before it's too late (if not already).

This industry is about to sweep the nation (regardless of federal/state administration). As @MJ DeMarco said
I can guarantee you in a few years, the newsworthy in-vogue millionaires will be marijauna entrepreneurs, just like the dot-com boom, the app boom, the self-pub boom, and the game boom.
It's funny @MJ DeMarco because I was thinking the same thing the other day. It's the self-pub boom "domestic brewery" type deal all over again.

Surely, there will be members of this forum who'll become dominant forces in this industry (if not already).
 
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jkkkjkhk

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FWIW I have a few friends who work at dispensaries, and I've been to a few myself. All that I know of accept card transactions as well. I'm not sure exactly how they process it but say you make a purchase of $46.xx they charge you for $50 and give you the change.
 

MidwestLandlord

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FWIW I have a few friends who work at dispensaries, and I've been to a few myself. All that I know of accept card transactions as well. I'm not sure exactly how they process it but say you make a purchase of $46.xx they charge you for $50 and give you the change.
Really?

Why on earth would they increase the credit card sales arbitrarily when you pay as a percentage of the sale? It's usually against their merchant agreement to do that as well.

Weird. I've never seen this.
 

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