The Cannabis Industry.

[GetShitDone]

I'm about to embark on launching a very disruptive start up in the Legal Cannabis Industry in the Canadian (est. $23B size) market, as legalisation is set to be next year...

What are your thoughts on this market and are you or anyone you know involved in this space?

Exciting times ahead...

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Locomote]

I'm about to embark on launching a very disruptive start up in the Legal Cannabis Industry in the Canadian (est. $23B size) market, as legalisation is set to be next year...

What are your thoughts on this market and are you or anyone you know involved in this space?

Exciting times ahead...

It's going to be a game changer if and when legalization comes but there are quite a few challenges to over come at provincial level.

The decision of each province on distribution will be key... especially if you're talking about a disruptive startup.

 

[SYK]

Great space to be in. Plenty of regulation to navigate but the pay offs are big.

I ran a PR campaign for a big US cannabis oil manufacturer/formulator/researcher. They're doing some cutting edge stuff. Got a big celeb partnership too.

Still got a pretty big industry media list and can give you advice if it'd be handy.

 

[Scot]

It's going to be a game changer if and when legalization comes but there are quite a few challenges to over come at provincial level.

The decision of each province on distribution will be key... especially if you're talking about a disruptive startup.

We're seeing this a lot in the US. Last November during the general election, Florida voted to allow medical marijuana. It's August now and only a few counties have allowed very limited numbers of dispensaries to open. The state and local governments are fighting tooth and nail to over regulate it.

I don't know how stubborn Canadian politics are, but I'd avoid doing raw leaf products and stead towards oils and vaporizers, since that what we've seen get approved easier here.

Good luck!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Fpm9]

I'm not familiar with this industry so I can't really help, but I think you should not overestimate your competition. I've heard many people talking about their "great business idea", but they were just people who love smoking weed and think getting into this industry is the next cool thing to do. I feel like this is even worse than in the fitness industry.

 

[Azure]

I hope your disruptive start up isnt in the retail distribution sector, as a lot of the thought leaders in this area are indicating a Loblaw monopoly is going to be granted initally. Galen Weston is pushing a strong lobby for full distributiobln rights in his Loblaw and Shoppers pharmacies.

 

[Scot]

Also, how does one disrupt a new industry..?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[GetShitDone]

Great space to be in. Plenty of regulation to navigate but the pay offs are big.

I ran a PR campaign for a big US cannabis oil manufacturer/formulator/researcher. They're doing some cutting edge stuff. Got a big celeb partnership too.

Still got a pretty big industry media list and can give you advice if it'd be handy.

Sounds interesting.

Looking forward to hearing more.

 

[JAJT]

I don't know how stubborn Canadian politics are

With regards to cannabis, politics up here in Canada are just changing to catch up to existing public behaviors and attitudes. It might as well already be legal for all the enforcement it gets (which is basically none on the user level). You're more likely to get your joint thrown down the sewer by a cop than a ticket - and you have to be pretty annoying and unlucky to even get that kind of attention. It's already about as popular as beer and cigarettes at any party in this country from my understanding.

Check out this statement from the Ottawa police late last year: Don't like pot being sold at illegal shops? Don't call police just to vent your views

Headline: "Ottawa police only want to hear 'legitimate' complaints about illegal pot shops"

That should tell you everything you need to know about how 'illegal' it is up here right now. Illegal dispensary in your area? Keep it to yourself unless something else is going on.

That being said - tons of them are getting shut down for being absolutely stupid about things. No business sense. No legal sense. Just pushing their luck on every corner and neighborhood, jockeying for position for when the law comes through.

Online business in this sector is going to boom though, I can say that. You can ALREADY order your supply through websites, and have it delivered in the damn mail without issue. I don't know how they do this legally (if at all) but I can say that it's very, very quickly becoming the preferred way for users to get a hold of it. Nobody wants to do a back-alley street deal with a shady guy out of a beat up car when they could just hit "submit" online and get an ounce of their favorite strain delivered by Canada Post to their door. And shit - it may very well even be on sale this week. Would you like to add some cannabis gummy bears to your order for another $10 at checkout? Well doesn't that sound swell...

 

[focusedlife]

Also, how does one disrupt a new industry..?

I originally disregarded the word "new" (sorry), but, still yet...

Lemonade.com

Check out the releated podcast ($trillion dollar industry upset) → Check it out

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Aaron T]

Have invested in it where legal. Find it super regulated, but as mentioned, quit profitable. Definitely worth the trouble.

Really cannot say much more than this right now.

 

[Guest24480]

Back when I was 17 before the marijuana legalization surge I had what I thought was a revolutionary business idea.

It was a medical marijuana delivery service. The name?

Potwheels.

Thank me later.

 

[Deleted50669]

I'm about to embark on launching a very disruptive start up in the Legal Cannabis Industry in the Canadian (est. $23B size) market, as legalisation is set to be next year...

What are your thoughts on this market and are you or anyone you know involved in this space?

Exciting times ahead...

A consulting colleague of mine is starting a west coast cannabis consulting firm (a term I never fathomed I'd utter verbally or through text) and already has 3 confirmed clients. His specialty is tech implementation for managing transactions and inventory. He's basically naming his price since it's currently a woefully underserved sector.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[jlwilliams]

It's an exciting opportunity. Not every day a product category with a huge consumer base just comes on line. That said, I have only one bit of advice. Walk away from any business run by stoners. If you are considering investing in a business and the president is wearing a type die shirt and has jam band music playing softly in the back ground, back out.

I lived in Rhode Island when their medical marijuana became legal. I knew a number of people who started dispensaries and stores catering to growers and so on. Long story short, there was a window of opportunity that was completely fumbled by people actively attempting to grab that golden ring.....but they were a bunch of stoners.

Just go into it with an eye on metrics and look for the opportunity to add value and don't hire people who show up stoned.

 

[Greg R]

Also, how does one disrupt a new industry..?

How does anyone know it will disrupt?