Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I am not here to discuss the pros and cons of legalization and how you feel about it. This is a business forum.
How is the best way to get started in profiting in this if you your state is perhaps considering legalization or decriminalization, or increased medical marijuana usage.
Does anyone have any personal experiences? Tips? Cautionary tales?
It is a sweeping trend in the country....something to think about and at least discuss.
How is the best way to get started in profiting in this if you your state is
perhaps considering legalization or decriminalization, or increased medical marijuana usage.
By keeping them from going to full on legalization.
Once MJ is actually legal... there will be no more profits from it than from asparagus.
How is the best way to get started in profiting in this if you your state is perhaps considering legalization or decriminalization, or increased medical marijuana usage.
I don't know how they are planned on doing it in other states, but here in New Jersey, only approved state licensed dispensaries can sell medical marijuana, they also must grow there own marijuana, rather than buying it from suppliers. Without one of these state licenses your business venture isn't going to get off the ground.
Assuming you can secure an Alternative Treatment Center license, only six have been granted so far. I would think you would want to team up with a existing nursery that has an established business with green houses ready to grow your marijuana plants. Some marijuana plants can be grown in 8 weeks, it generally takes 3 to 4 months before they are ready for harvest. Also security needs to be a consideration, while there not a lot of criminals looking to break into greenhouses to steal mums, marijuana is another story.
Another thing to consider is while the state may decriminalize marijuana, the federal government still considers it illegal. In Denver and LA, where marijuana was decriminalized, the federal government raided a dozen marijuana facilities seizing plants. So you might invest millions of dollars getting your discrepancy and growing facilities up and running, only to have the federal government break down your door and seize everything before you can sell your first joint. Despite being legalized by the states, it's still a risky business.
Last edited by TechGromit; 09-28-2014 at 08:19 AM..
You can profit by making business development, and marketing strategies for companies that sell the products. You do not have to be directly involved in the manufacturing of it.
My concern with a business in this industry (I considered it - Las Vegas is about to approve its first dispensary licenses) is the federal "complications" that may arise.
By keeping them from going to full on legalization.
Once MJ is actually legal... there will be no more profits from it than from asparagus.
Not true. Pot would become another commodity as is oil and food. If you learn from the history of business and economics the key to making a fortune when a new commodity comes into play is to dominate the industry. You do this by buying out the competition, "influencing" lawmakers into raising the barriers to entry, and creating brand loyalty. Look at beer, its actually very easy to make. However the beer barons learned long ago how to dominate and "influence" politicians.
A good portion of people in the "legal" pot industry were in the not legal pot industry prior. People didn't just get growing skills and great strains of bud overnight. Granted there are some people from the business world who see value and are getting in but many people in this business are people who were already involved in the illegal marijuana business.
As far as getting in some states it's easy and fairly low startup maybe a grand on good lights, grow tent, nutes, ph checker, etc. In other states like Illinois you have to put up something like 200k just to apply for a license so they are pretty much only allowing big business to enter this arena.
There's a million and one businesses that pop up and are involved there's delivery services, people who sell seeds and clones, people who turn the trim and scraps into hash, people who turn it into edibles, etc.
As far as full legalization taking away from profits thats just not true, look at colorado fully legally for recreational use and people are cashing in. SOme people may not want it to become illegal because many if not most medical sellers also sell their surplus on the black market for larger markups.
Also, fo anyone who has chips and cheetos why do you even bother posting. Though you may think pot is a joke it's no different from wine or anything else and huge businesses are developing around it.
I don't know how they are planned on doing it in other states, but here in New Jersey, only approved state licensed dispensaries can sell medical marijuana, they also must grow there own marijuana, rather than buying it from suppliers. Without one of these state licenses your business venture isn't going to get off the ground.
Assuming you can secure an Alternative Treatment Center license, only six have been granted so far. I would think you would want to team up with a existing nursery that has an established business with green houses ready to grow your marijuana plants. Some marijuana plants can be grown in 8 weeks, it generally takes 3 to 4 months before they are ready for harvest. Also security needs to be a consideration, while there not a lot of criminals looking to break into greenhouses to steal mums, marijuana is another story.
Another thing to consider is while the state may decriminalize marijuana, the federal government still considers it illegal. In Denver and LA, where marijuana was decriminalized, the federal government raided a dozen marijuana facilities seizing plants. So you might invest millions of dollars getting your discrepancy and growing facilities up and running, only to have the federal government break down your door and seize everything before you can sell your first joint. Despite being legalized by the states, it's still a risky business.
I thought the feds raided that place in Montclair NJ.
Yeh in LA they have dispensaries right along the Venice beach boardwalk or whatever they call it. Lots of tourists can go there, and get a card even if you do not live in CA.
Not true. Pot would become another commodity as is oil and food. If you learn from the history of business and economics the key to making a fortune when a new commodity comes into play is to dominate the industry. You do this by buying out the competition, "influencing" lawmakers into raising the barriers to entry, and creating brand loyalty. Look at beer, its actually very easy to make. However the beer barons learned long ago how to dominate and "influence" politicians.
So basically only the already rich will be able to profit off of the legalization trend. That is why I see so many MSM shows like that one with Trish Regan showcasing the "growing" industry.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
