How to Start a Cannabis Business On a Budget

So you’ve got a big idea (genius, of course) but little money to play with. What’s the first step? These scrappy entrepreneurs have some advice. August 13, 2019 10 min read This story appears in the August 2019 issue of Green Entrepreneur. Subscribe » From the outside, it looks like the race to get into the cannabis space is available only to people with enough capital to pay cash for a five-bedroom home. But in reality, there are a ton of thriving businesses in all segments of the cannabis market that started with a great idea and just a piggy bank of savings. Here are three companies that bootstrapped their way to success from an initial investment of $5,000 or less — in fact, way less — plus advice from the founders on how you can do it, too.   Fruit Slabs The founders: The creation of Roxanne Dennant and Brian […]

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9 Ways to Beat Work Stress and Increase Productivity With CBD

From epilepsy to pain and even sleep, the size of the opportunity in the CBD industry is becoming larger than ever. August 2, 2019 5 min read This story originally appeared on Marijuana Mommy Cannabidiol (CBD) is an increasingly popular substance that more people are choosing to utilize.  Even athletes have turned to cannabis products to treat their bodies after rigorous games and training sessions. From epilepsy to pain and even sleep, the size of the opportunity in the CBD industry is becoming larger than ever. With a the expansion of the Farm Bill legalizing hemp-based CBD products, the use of cannabis in the workplace to combat fatigue and increase productivity is becoming increasingly popular. Whether you’re an employer or employee, understanding how CBD may increase productivity in the workplace can be beneficial. In this article, we consider nine ways CBD may increase productivity and enhance the work environment. 1. CBD for Anxiety Anxiety disorders can prevent a […]

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Cannabis Lounges Are Popping Up Across the Country

Some predict they’ll be as popular as bars, but there’s still plenty of controversy. July 30, 2019 3 min read This story originally appeared on Benzinga As cannabis use becomes legal across more and more of the country on the state level, consumption lounges are popping up.  In California, the cannabis cafe Lowell Cafe is slated to open Sept. 1 in West Hollywood. Local religious leaders and others have expressed concerns, indicating the rift between communities and consumption spaces. Other states like Massachusetts could follow the same path, as it passed initial approval for social spaces in May of 2019. Previously in March of 2019, Alaska adopted its own rules for on-site consumption at licensed retail locations. And Nevada has opted to postpone legislation on cannabis lounges until 2021. Related: Cannabis Entrepreneurs: Know the Perils of ‘Accidental Franchising’ ‘Our Children Won’t Even Blink An Eye’ Caleb Chen has advocated for social consumption in Los Angeles and Las Vegas since […]

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Know the Perils of ‘Accidental Franchising’

Accidental franchises are a trap for the unwary — and the trap is sure to attract cannabis entrepreneurs looking for a quick footing in the burgeoning cannabis industry. July 26, 2019 13 min read This story originally appeared on Marijuana Venture Cannabis, the fastest growing industry in the U.S. job market today, is embracing one of America’s most popular business expansion engines: franchising. Denver-based ONE Cannabis and Florida-based Miracle Leaf each claim to be awarding franchises to catapult their growth, the former franchising cannabis dispensaries and the latter medical marijuana clinics. Undoubtedly, other cannabis franchisors are following suit to capture a piece of the $150 billion industry. It is a predictable combination — franchising and cannabis — and probably just a matter of time until franchise outlets dominate the Green Rush landscape as they have done in diverse business sectors like restaurants, fitness, real estate and senior care. What makes franchising such a […]

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5 Ways Your Company Can Fight Counterfeiting in the Cannabis Industry

Counterfeiters can capitalize on your work and position themselves as parasites on your reputation. July 26, 2019 5 min read This story originally appeared on Marijuana Venture If imitation is the highest form of flattery, counterfeiting should be quite the compliment. But in the cannabis industry, like other industries, counterfeiting not only hurts a company’s bottom line but also weakens the value of its intellectual property — plus potentially exposes it to reputation risk and product liability litigation. So rather than taking counterfeiting as a sign of success, cannabis companies must consider swift and decisive action against counterfeiters. By definition, counterfeiting is the intentional and calculated reproduction of a genuine product or brand with the purpose of misleading the buyer into believing that they are receiving the genuine product. We have seen this in other industries with fake iPhones, DVD movies and pirated copies of software, as well as countless other examples. […]

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Personal Cannabis Preference Is Shaping Consumption — and Forecasts Predict the Market Could Hit $28.9 Billion by 2022 (Infographic)

Personal Cannabis Preference Is Shaping Consumption — and Forecasts Predict the Market Could Hit $28.9 Billion by 2022 (Infographic) There are no Videos in your queue. Click on the Add to next to any video to save to your queue. There are no Articles in your queue. Click on the Add to next to any article to save to your queue. There are no Podcasts in your queue. Click on the Add to next to any podcast episode to save to your queue. You’re not following any authors. Click the Follow button on any author page to keep up with the latest content from your favorite authors. Cannabis North American consumers spent an estimated $12.3 billion on legal cannabis in 2018. Image credit: Petri Oeschger | Getty Images July 25, 2019 0 min read This story originally appeared on Green Market Report Entrepreneur members get access to exclusive offers, events […]

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What To Make Of Jay-Z’s Caliva Partnership

Hip-hop artist and entrepreneur Shawn ‘Jay-Z’ Carter made headlines earlier this month by entering the cannabis space. July 23, 2019 2 min read This story originally appeared on Benzinga Hip-hop artist and entrepreneur Shawn “Jay-Z” Carter made headlines earlier this month by entering the cannabis space via a multi-year deal with California’s Caliva as its chief brand strategist. Caliva said Jay-Z will focus on creative direction for the brand as well as outreach efforts. Jay-Z will also “focus on and work to increase the economic participation of citizens returning from incarceration — many of who are not seeing the monetary benefits of legalization — through advocacy, job training, and overall employee and workforce development,” according to Caliva. Some believe the merger shows the benefits of diverse company leadership, while others considered the move a sound business decision for Jay-Z. Caliva’s accolades include 3.5 times year-over-year growth with over 250 retailers carrying its […]

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A Weed Museum Is Coming to Hollywood

The curated museum will have interactive exhibits, historical artifacts and Instagrammable art installations. July 23, 2019 2 min read This story originally appeared on Benzinga Weedmaps recently announced its Weedmaps Museum of Weed will open to the public on August 3 in Hollywood, California. The museum aims to educate people in a fun and interactive way, while inspiring them to support pro-cannabis advocacy and reform efforts. The 30,000 square-foot museum will be curated with interactive exhibits, art installations, historical artifacts and Instagrammable art installations. It will combine immersive elements and natural history. “An important piece to talk about where cannabis demonstrations haven’t ventured before is our Plant Lab Exhibit,” said a company spokesperson. “In it, we will break down the biology of the plant and help explain to our audience in layman’s terms how this plant interacts with your body. What’s unique about it is that we’re taking extremely complex ideas and making a […]

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Most U.S. Cannabis Cultivators Choose to Compete on Quality Rather Than Cost (Chart)

Many wholesale growers are focusing on cannabis quality, though market forces tend to favor those who reliably supply low-cost cannabis. July 19, 2019 2 min read This story originally appeared on MJBizDaily Many wholesale cannabis growers choose to compete on quality, even while market forces favor growers who can reliably supply low-cost cannabis. Nearly half of U.S. cultivators are attempting to make high-quality flower their key differentiator, according to the recently released 2019 Marijuana Business Factbook. But with flower sales on the decline, the market likely will prove unable to sustain that proportion of growers competing on those grounds alone. In the extract market, consumers have shown a preference for high-potency, low-cost concentrates, creating high demand for inexpensive flower. Demand for high-quality concentrates may increase as cannabis use continues to become more mainstream, though it’s unlikely to supplant low-cost, value-oriented concentrates in the near future. While there may be an immediate […]

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Jim Belushi Is Launching a Blues Brothers Cannabis Brand in Illinois

He’s an Illinois native who has been growing pot in Oregon. Not that Illinois legalized he’s bringing what he’s learned back home. July 18, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. Jim Belushi has been building a cannabis business in Oregon for several years but now that his home state of Illinois will allow sales of recreational pot in 2020 he’s expanding where his roots are. Belushi plans to bring a new strain, named The Blues Brothers after film and band that his brother, comedian John Belushi, made famous along with comedian Dan Ackroyd, first to the market in Illinois. Belushi, who has performed in the band, wants to use the Blues Brothers brand when he takes his product national.  “Illinois is going to be a huge market,” Belushi told Advertising Age. “I want to be on the shelves come Jan. 1.” Illinois lawmakers voted to […]

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Cannabis: The Afghanistan of Entrepreneurs?

Arrogant entrepreneurs are likelier to exit cannabis humbled than rich. July 5, 2019 3 min read Opinions expressed by Entrepreneur contributors are their own. Because of its geopolitical value at the silk road gateway of Iran, Central Asia and India, the region of modern Afghanistan has historically been a conquest target. Empire after empire have literally broken themselves trying to seize this region, earning Afghanistan the ominous nickname, the “Graveyard of Empires.” While scholars debate nuances of why the region confounds conquest, few disagree a prime cause is the arrogance of foreigners failing to fully appreciate the difficult terrain and complex tribal factions. I’m sorry to say to all you ambitious entrepreneurs and investors, but Cannabis may be your Afghanistan. I understand, it may be too difficult to ignore the boom of the cannabis markets world-wide, or the seemingly unstoppable march of global legalization, or the eye-popping financial projections or […]

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Why Mood-Based Cannabis Products Are About to Blowup

Cannabis can be consumed to achieve any mood. Businesses are taking note to shape the cannabis products of the future. June 14, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. If we take a brief look back at history it’s clear that cannabis has survived several societal reputations. What was once known as “Devil’s Lettuce,” went on to be a pop culture symbol of Bob Marley. Today, the shift of the plant’s perception is a direct correlation to recent mass legalization of the substance across the United States. Data shows that consumption is skyrocketing in states like California – but this should come as no surprise. West Coast moms, dads, students, you name it, can all take a walk down the block to pick up milk, eggs and flower.   While it’s nearly impossible to determine the quality or specifications of a federally unregulated substance, any […]

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Women Are Disappearing From the Cannabis Industry. Why?

The industry’s most powerful women are working to fix it. May 21, 2019 12 min read This story appears in the June 2019 issue of Entrepreneur. Subscribe » When cannabis was legalized in Oregon, many people saw business opportunity. But Amy Margolis saw something more specific: She saw business opportunities for women.  Margolis was a criminal defense attorney in Portland and had spent a decade defending cannabis growers who’d been caught by the police. Once the state legalized bud, she turned to corporate law and helped local entrepreneurs enter the industry. “I just pivoted with my clients,” she says. And as she did, she says, she saw women flood into the marketplace. They were starting dispensaries, creating new products, and, like her, providing needed services to cannabis entrepreneurs. The industry struck her as more equitable than others, where men tend to dominate the upper ranks. But she wouldn’t say that […]

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7 Stats to Know About Legal Cannabis and CBD This 4/20

It’s not the outlaw celebration it once was, but that was the goal all along, wasn’t it? April 20, 2019 4 min read Opinions expressed by Green Entrepreneur contributors are their own. While many Americans may think of April 20 or 4/20 as a “stoner” holiday, that kind of thinking is quickly becoming a thing of the past. Cannabis is available for medical or adult use in more states than ever before and its stigma is steadily  fading. In fact, according to Pew Research, a record-high 62 percent of Americans say the use of cannabis should be legalized. Consumers across the country are incorporating cannabis into their regular routines thanks to the wide variety of products available. 4/20 is now celebrated all year round! 2019 marks the start of the second year of legal adult cannabis in California, the world’s largest legal market, and yet significant hurdles remain for consumers […]

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These Entrepreneurs Are Letting the Sun Shine on Indoor Cannabis Cultivation

Vera Cultivation is combining the energy efficiency of greenhouses with the precision of an indoor grow. April 12, 2019 7 min read Brought to you by Marijuana Venture As competition increases within the cannabis cultivation sector, newcomers need every advantage to be profitable. They don’t have time to lose as part of a “learning curve.” They can’t rely on the reputation of an established brand. They are entering the industry at a time of mass consolidation, falling wholesale prices and increasing scrutiny by consumers, investors and regulators alike. Yet, new operators do have one significant advantage compared to their well-established peers: They have the benefit of watching the market unfold before investing countless hours and millions of dollars in an emerging, immature and constantly evolving market. The three co-founders of Vera Cultivation — CEO Alex Park, chief operating officer Harrison Somoza and chief production officer Eric Haughton — have waited […]

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Why This Cannabis-Infused Beverage Is Being Marketed Like a Health Drink

Mood33 is about feeling good more than feeling high — and the design of its packaging has to make that clear to consumers. April 10, 2019 3 min read Cannabis-infused beverages are making a stir in big business. In 2018, Constellation Brands — purveyors of Corona beer and Svedka vodka — invested $4 billion in a Canadian marijuana company. And in December, Anheuser-Busch InBev announced a $100 million project to develop cannabis beverages. That might feel like fierce competition for cannabis-bev entrepreneurs, but Michael Christopher simply sees it as proof that his timing is right. Last year, he launched Mood33, a California-based startup that sells cannabis-infused sparkling tonics. To stand out, he’s positioning his drink as a wellness product, focusing on health benefits and natural ingredients rather than pushing the buzz the beverage delivers. Here’s how he created packaging for an elixir that’s more about getting healthy than getting high. […]

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Curaleaf Signs Distribution Deal With CVS for Hemp Products

The long anticipated move of cannabis products into mainstream stores is underway. March 22, 2019 2 min read Brought to you by Marijuana Business Daily Massachusetts-based Curaleaf has inked a deal with the CVS pharmacy chain to begin selling hemp products at 800 stores in 10 states. The distribution deal was announced during Curaleaf’s investor and analyst call to discuss its fourth-quarter and full-year earnings. Curaleaf Hemp lotions and transdermal patches will start hitting store shelves this week, company executives said. “All large retailers are figuring out their hemp strategy and will address that in 2019 because there is such a huge product demand,” Curaleaf CEO Joseph Lusardi said on the call. CVS has more than 9,800 stores in the United States. Curaleaf’s fourth-quarter revenue totaled $32 million, up from $6.3 million for the same period a year earlier, while full-year sales nearly tripled year-over-year to $77 million. Net losses totaled $16.5 […]

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How This Food-Delivery Entrepreneur Pivoted to Cannabis-Delivery

Dispensaries can be confusing and intimidating experiences for consumers. The startup Dutchie makes it as easy as ordering a pizza. February 27, 2019 4 min read Opinions expressed by Green Entrepreneur contributors are their own. Cannabis had just been legalized for recreational use in Oregon, so I and everyone else in my town lined up, sometimes for an hour, outside the busy dispensaries. When I finally got to the counter, I had mere minutes to read the menu and even less time to discuss it with the budtender and make an informed decision. It was a terrible customer experience. That’s when it hit me: What if I could just go online, educate myself about the products available at each dispensary, determine which was right for me, click a button, and have them delivered straight to my home? Related: Her Dad Founded the Emerald Cup and Now She Is Co-Producer of […]

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Seniors Are the Cannabis Market Few Companies Are Targeting

The cannabis industry’s fixation on millennials risks overlooking older consumers who have more money to spend and more health issues to address. January 9, 2019 5 min read Opinions expressed by Green Entrepreneur contributors are their own. When it comes to the booming cannabis industry, it seems every company is focused on the millennials – and rightfully so. They, along with the upcoming Gen Zers, are the generation more likely to be considered “risk takers,”, currently are the biggest users of cannabis products and companies’ marketing tactics are putting a more youthful, hip spin to cannabis. And while targeting this demographic provides a plethora of opportunity (what millennial wouldn’t want a CBD-infused matcha almond-milk latte every morning?), companies are missing a huge opportunity by not looking at another demographic: seniors. As more states begin legalizing marijuana for medical and recreational purposes, the older generations — part of the “conservative experimenter” […]

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The Cannabis M&A Boom Is Looking Like the Dot.com Boom. Here’s How to Avoid the Bust.

Cannabis company valuations are reaching dizzying heights, which is what often happens to valuations before they fall. December 24, 2018 5 min read Opinions expressed by Green Entrepreneur contributors are their own. When you’ve had a front-row seat to an industry boom and bust — it sticks with you. I worked in institutional equities in the early 2000s, and I saw the rise and fall of the young internet. Today, I’m the chief operating officer at a major cannabis company. From where I sit, it’s easy to hear some disturbing echoes of the overheated dot-com days in the current cannabis market. Just since July, we’ve had a couple billion dollar-plus cannabis deals, and plenty in the hundred million dollar range as well. Just like in the bad old days at the turn of the 21st century, everyone is looking to either buy or sell. Back then, a big part of my […]

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