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But, while mattress store investment may soon subside, entrepreneurial interest in marijuana is higher than Snoop Dogg in a nineties music video.Legal cannabis sales added north of billion to the US economy last year, and there are more dispensaries in Colorado than Starbucks and Mc Donald's stores combined.
Crowdfunding has been used successfully by some of the marijuana industry’s most exciting players.
Eaze Solutions, a cannabis distribution company (read: Deliveroo for weed), raised part of a $1.5 million infusion via the crowdfunding website Angel List.
There’s less red tape than with a commercial bank loan, and you don’t necessarily even need a financial track record to launch an online campaign.
One point to bear in mind is that some crowdfunding sites, like Kickstarter and Indiegogo, flat out refuse to work with cannabis companies.
Other than those requirements, you’re free to pitch to the public however you like.
Crowdfunding is ideal for very early-stage companies who don’t yet have the clout to attract venture capital.
Acquiring a license to run a medical marijuana dispensary involves paying two types of fees: a non-refundable application fee, and a yearly licensing fee. Yearly licensing fees vary by state, ranging from 0 in Louisiana to a whopping ,000 in New York.
A different capital requirement applies in every state.
Recreational dispensaries also face heavier taxes than medical marijuana dispensaries.
You can only open a dispensary in locations that comply with local laws.