The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

What do you guys think about starting a weed consumables business?

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

JLE

Contributor
Nov 24, 2018
30
37
109
Florida / Ontario
I was born and raised in the southern US. I just moved to Ontario, Canada.

Apparently... consumable weed products are not currently legally available for sale recreationally -- but they will be on October 17th of 2019 in Ontario, Canada. I'm sure there are large corporations here already working on developing products that can be sold as soon as these products are able to hit the shelves.

But my question for you more experienced gents out there is -- could I get in on this?

Should I begin making consumable weed products with my measly amount of savings to have packaged and put on shelves in-store before large corporations take-up all of the ideas? Or should I think about what every other entrepreneur is doing and maybe sell the shovels (meaning sell info-books/courses/etc. on how to start your own weed consumable business in Canada)?

I have no doubt that there are going to be opportunities here once this is legalized. I don't even smoke weed -- but I recognize this opportunity.

Any advice here from you fastlaners? Stop thinking me, me, me? Too over-saturated? Get a loan? Don't get a loan? Try something else? Good luck with all the restrictions?

Advice?
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Zcott

Silver Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jul 24, 2018
303
623
269
Not to be a downer, but this is not something you can currently move forward with. I'm not talking obstacles which need to be solved, but actual legal barriers.

To sell cannabis edibles, or any cannabis products, you will need a licence from the Ontario provincial government. To be eligible for a licence, you will need the following:

  • To live in a town with more than 50,000 people.
  • To live in a town with more than 50,000 people which has agreed to have cannabis stores
  • Have $50,000 line of credit

You might think that is fine, but right now Ontario have capped the licence to 25 stores because of a shortage of cannabis*.

Cannabis edibles will also be highly regulated. The reason it did not become legal at the same time as cannabis is because it required further legislation. I imagine to get a licence for this you will have to meet similar, if not stricter, criteria as those written above. Point being it won't be as simple as baking a product to put it on a shelf.

I don't want to burst a bubble, but this is nothing something you can move forward with legally. But I did mention *a problem which needs solving, which you can look into.
 

Sponsored Offers

  • Sticky
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2020
Hello I joined Fox web school last month sept 26 2020 and in just exactly 1 month i got my first...
  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
Hi Mj, I just bought it. And reading it. I think is a great idea to write using the stories to...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Hey @Lex DeVille ! Having some issues with the NOREGRETS code? Udemy thinks it has expired...
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Are you looking for a new, lesser-known but potentially very lucrative source of leads to your...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Just got off the phone with @LightHouse. Having just a 45 minute conversation with him has...
  • Sticky
MARKETPLACE Kill Bigger Incubator
@Kak Thanks for the reply. Whats interesting is that I have an idea that's been cooking which...



Forum Sponsor

sponsor

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom