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Raising Funding for my cannabis business

Discussion in 'Business Centre' started by Foxus, Dec 14, 2015.

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  1. Foxus

    Foxus Entrepreneur

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    What do you all suggest I do to get funding for my cannabis business, if effort not only to serve people, but also to get in on the "green rush?"

    Looking at the fees, the application fee is a whopping $2500, the license fee being another $3000, so only to apply (and this isn't including any legal fees, or the cost of finding a facility to set up shop at) it is $5500.

    To cultivate, it is a bit less expensive, totaling to a amount of $4700. With any waivers granted, it could be dropped to $4k. These are upfront fees.

    Should I try applying for a loan, seek out potential investors, what do you suggest I should do?
     

  2. Brian D. Evans

    Brian D. Evans Business Owner Entrepreneur

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    Give out as little equity as possible for that amount of cash.

    You don't want to build a multi-million dollar business and then be giving up 50% because of a $9.5k investment.

    Maybe you can bootstrap it for now. Possibly start a blog on the subject and generate some cash in the meantime. Or you can fund it through friends and family who may take a much lower percentage than a traditional investor.
     

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