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Anybody working in the cannabis industry? I am wanting to apply for my commercial grow license in the next couple of years. Any advice?

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I could swear I read this as cannibal industry. Sorry! I don’t! But good luck with it :)

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Really important element is to figure out the banking side of all this. I’m sure they exist on a local level but I can’t name any banks that provide banking services to cannabis companies.

Makes sure you know where you’re going to get the product tested.

I’m not super knowledgeable but my gut feeling tells me the space is becoming quite saturated and “Big Cannabis” (as in Big Pharma) is starting to establish a foothold.

I imagine the days of local weed farmers selling their weed to the highest bidding local dispensaries have gone, or soon will be.

The costs of running a cannabis business have skyrocketed so keep all that in mind as you start your journey

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I’m not aware of any banks that are able to be involved with this either. I don’t think any banks that are FDIC insured can loan. I believe this may change at some point. If I wasn’t able to obtain the funds I wouldn’t even consider this as a business opportunity.

I am mainly concerned about financially backing an operation, paying to apply for a license, and then not being awarded. I’m not sure if it is worth it or not. My state is currently not accepting applications, which is probably a good thing. This gives me some time to plan and decide whether or not I want to pursue this as a business.

I can advise from the brand and experience side as I was part of brand development for a boutique cannabis brand. As the market is saturated, know your niche audience, have an authentic story or point of view and build a lifestyle brand and experience (digital and physical) around it.

It's exciting times for the cannibis industry! Even though it is saturated but still tons of uncharted territories. Good luck👍🏼

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I’ve been in the cannabis industry for 8 years, this question is totally dependent on what state you’re applying for a license in.

However, at the end of the day cannabis flower is a agricultural crop and has been subject to massive price swings and price compression in mature markets. Colorado cannabis price are currently at an all time low so be thoughtful about your overhead and what your realistic margins may be.

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I've been hearing the trend is complete vertical integration, so you may be facing off with companies who grow their own and don't buy local.

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What state are you looking to apply for a license in?

Depends on the state POV. Medicinal or Adult license? Build a team that checks all the boxes.

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