The Marijuana Show, now in its third season and streaming on Amazon Prime (and also available on Comcast and Roku), is being called “The Shark Tank of cannabis” for its ability to connect weed startups with investment capital to scale up operations. Contestants compete with one another for millions of dollars awarded by investors to potentially bankroll their green ventures. In the first two seasons alone, investors made $18M available to show contestants savvy enough to tout their company’s viability.
Read more: Forbes/David Carpenter
Seems like cannabis business owners in legal states are still having trouble securing their money with banks no matter who they are. Nikki Fried is a pro-medical marijuana Democrat who is currently running to become Florida’s agriculture commissioner. A few weeks ago, her bank, BB&T of Winston-Salem, sent an email saying the account had to be closed by September 5th. The candidate stated the North Carolina bank did so because of her support of medical marijuana. After Fried won her primary late last month, Wells Fargo also shut down her account citing a need to comply with federal law. The moral of the story is that there is a giant conflict of interest between the state and federal governments, and until it is properly resolved the people will continue to be impacted. Can't we all just get along?
Source: Associated Press/Marijuana Business Daily
These days many people are inquiring what it takes to be a "ganjapreneur". There are usually several steps like obtaining a license to cultivate, process or distribute cannabis. If you don't know what it takes to win a license, be prepared to face an extremely competitive and legalistic process. We stumbled across a few ways you can make yourself stand out from the crowd. Different cities and states have different requirements so don't forget to "show your worth" (to the state and communities in those states). You have to prove that you have planned a secure and responsible business that positively impacts the community.
Below is a resource which highlights strategies from industry titans in the cannabis field. The best part is, this was released less than a month ago, so it's an updated resource! Enjoy!
Read more: Create a Winning Cannabis Application 15 tips
Securing the finances to start your business can be challenging. With the recent cannabis wave, if you're looking to open one that involves cannabis, things get even more complex. You may find it difficult to borrow from a big bank, but that doesn’t mean you don’t have options for funding a business in the world of Mary Jane.
During the podcast we sometimes mention states who have passed laws to regulate the cultivation and use of cannabis. Investor dollars are pouring into the cannabis industry, and it seems a lot of people want to get in, but the level of investor and how much they want to commit is a different story.
CBD is unburdened by much of the stigma and logistical challenges regularly associated with cannabis (i.e., companies are willing to ship hemp CBD over state lines; they can be on everyday store shelves without requiring a visit to a dispensary), making customer access more convenient and putting hemp CBD brands in the public eye (according to a report by ).
While Canada prepares to legalize marijuana on Oct. 17, the cannabis industry has soared from essentially nothing five years ago to a global wave today. Canadian companies like Canopy, Tilray, Aurora Cannabis Inc. and Aphria Inc., are trailblazing the path. Canada’s cannabis companies are experiencing an investment boom so big it's making even some of the industry's biggest participants paranoid.
When legal, and the industry is fully ramped up, the adult-use market is expected to add in the neighborhood of $5 billion in annual sales. That's a lot of money, and it's expected to make marijuana stocks quite profitable.
But what you might not realize is that these profits might be heading to a relatively small percentage of growers. Even though Health Canada has issued 116 cultivation, sale, or production licenses through the end of August, four pot growers may wind up generating half of all cannabis for domestic markets and via exports.
Remember the end of last year when a subsidiary of the New York Stock Exchange (NYSE) launched trading on Dec. 26 for its first-ever marijuana fund? The Alternative Agroscience ETF, marking a major milestone for the burgeoning industry still struggling to obtain access to federally chartered U.S. financial institutions.
As medical and recreational marijuana sales skyrocket in the U.S., the growth is still only in its beginning phases. Twenty-nine states and Washington D.C. have legalized medical marijuana, while eight states and D.C. have legalized recreational sales.
Read more: NYSE Gets Its First Weed Fund | Investopedia
Legal cannabis began to step out of the shadows and onto the big stage when some of its largest and best-run firms started listing on major U.S. stock exchanges.
The legalization of marijuana in the United States has lit a spark with investors who are turning their focus to the small but rapidly expanding medical marijuana industry.
Investors in the U.S interested in adding cannabis to their portfolios have a few options. They can purchase shares of stock in cannabis-related companies that are publicly-traded on an exchange. Another option is to purchase shares of a fund, which offers exposure to many companies leading the way in this growing sector.
Read more: Stash, Investing News Network, Forbes