Come to BC, and you'll see what high demand in an industry looks like ![Big Grin :D :D](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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Free registration at the forum removes this block.Not a clue as to why. lol There's dozen here in the PHX Valley and of the 5 I know they all do this.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.
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.
More glamour = more competition = harder to make money
However, it is a new industry. So lots of upside.
Personally though, I'd prefer to compete in industries where the competition is predictable and sucks.
I have always wondered why more people don't follow this. Getting into the hottest markets, whether it is Marijuana, SaaS, or whatever else essentially guarantees that you're competing against the smartest people around with unknown market variability.
I won't throw too many rocks from my glass house (currently made of web design and FBA), but my end game is doing HVAC for sea freighters or something.
All those dot com era millionaires and billionaires are happy they didn't listen to this kind of advice. And yes, Marijuana is going to be about that big in the coming years.
I have always wondered why more people don't follow this. Getting into the hottest markets, whether it is Marijuana, SaaS, or whatever else essentially guarantees that you're competing against the smartest people around with unknown market variability.
it will allow me to be one of the few with a degree in Chemical Engineering
So your plan is to be Walter White?
If you want to talk about outliers, I could easily counter with the people who went bankrupt or committed suicide after the dot-com crash, but what's the point of that?
The point I'm making is that there are a bunch of old industries out there that are potentially easier to succeed in than the aforementioned "hot" markets. Obviously, you can succeed in any market.
Also, I'm not sure I see how the marijuana market will come close to the $3.5 trillion (and growing) worldwide annual spend on IT.
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My initial response is a Slowlane answer: it will allow me to be one of the few with a degree in Chemical Engineering with X amount of years experience in the Cannabis Industry.
Fastlane answer: Ima let the vets handle that while I digest.
The real money is in HVAC
By trying to mock me instead of responding to my comment, you're basically showing that you have nothing intelligent to share. I actually used that example because in the town I live in, there's a guy who owns a Marine & Offshore HVAC company worth mid-nine figures.
Let's let this go back to being an industry discussion.
Let's let this go back to being an industry discussion.
Anyone know if bitcoin for payments has been adopted at all in the Cannabis related market?
Best bet in this industry is to design or redesign tools that producers use/need that can be patented. Weed is a commodity, you're at the mercy of a price setting market which has a tendency to go lower.
If you're going to make money in this business it won't be through the obvious grower or dispensary business model, but in the ancillary industries. Remember, gold rush, sell shovels.
Sean Spicer: Feds will step up marijuana law enforcement - CNNPolitics.com
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1. Lots of upside.
2. Lots of competition.
3. Lots of risk (legality).
Starting a business in the cannabis industry has a low probability of success, high expected value if successful. To each his own, but I prefer industries where there's less variables to account for.
Someone mentioned some time ago about an opportunity for cannabis business owners to accept payment other than cash.
Why don't you just use 3rd party payment services?
I mean our company helps business by charging a nominal fee so they can bypass any financial hurdles.
Just sayin
Yup. I've been working on a prospect who manufactures his own CBD oil and hemp products. His issue was Paypal and Stripe cut him out which cut his sales in more than half for the past 3 months when he came to me. Immediately I was like guy, why aren't you just using a couple different high risk processors? Fees are a little higher, the process is a little more of a pain, but someone out there will always take your money.You can use high risk payment processors to accept payments.
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