Need advice please it could mean my future

Discussion in 'Marijuana Business and Industry' started by HopeForTheDope, Feb 11, 2014.

  1. Ok so the medical cannabis thing is starting to take off here in Kentucky but people here are so damn uneducated about it I don't see it hard for me to find a job in the field considering I've done more than my fair share of research and I consider myself pretty educated about cannabis, my question is how can I go about owning a dispencery do I need certain college classes? Is it costly? Is there a possibility to get loans to start? And is it gonna make me enough money to support my family? If I need certain classes please tell me now before I start applying for college because this has been my dream for 3 years to work with such an amazeing plant and I also get say my business truely helps people and I get to see physically and mentally Ill people feel better because of my business and for me that would be the most amazeing feeling ever ... Any information you could give me will help and I do mean ANY I want to know everything I can
  2. Business classes would be a good start but working on finding connects/growers to provide you with there excess would be a start. You will need a store front obviously or possibly do a delivery type system depending on the laws. Getting informed on the laws in your state would be the best advice.

  3. #3 pokeabewl, Feb 11, 2014
    Last edited by a moderator: Feb 11, 2014
    Google that shit
    And good luck with your dream man
  4. Grow first , just smoking a plant makes you qualified for not a damn thing.
    If you can pull out some ounces of fine stuff you grew yourself then you have some skill.
  5. i think he just wants too make money and has some knowledge of its effects,chemical compounds maybe and which cannabis species pertain too what medical problems..
    Yea I have a friend in western Washington who does that for a living he got the job because he was in the dispensary every day buying up everything.
    He bought himself a job as a proven expert. :D
  7. Just to be clear I'm in Kentucky where it is not yet legal but there is a bill in the house and in the senate (2 separate bills with the same meaning but worded a bit differnt) and I assume since this is the 3rd time it's been brought up in the senate and 80% of Kentuckians want it legal it's bound to happen eventually ... I was more less looking for detailed answers on the questions I asked but thank you all for posting ... I've been independently studying cannabis and it's effects for about 3 years now and I've been a heavy smoker for about 5 so I would assume I'm pretty educated on the matter I just want to know everything I possibly can to be able to open a successful cannabis dispensery ... No CPT tetra I'm not doing this for the money I've just always wanted to know what I'm doing with my life is gonna make a true impact on my community all I want is enough to put food on my table pay my bills and take care of my future wife and kids I have never wanted to be wealthy
  8. no offense , but you're looking at competing against folks with decades of experience.
    your best bet is to get in with one of those groups IME
  9. It is costly and no bank will give a dime for start up. You will be looking at around 100k dollar investment after business license,application fees, buying property ( the hardest and cost the most), you will need to buy all your equipment to grow ( good luck in Kentucky) let alone all the other stuff that comes with runnin any normal business.

    I am pretty sure if it was cheap and easy to open a dispensary every 18-24 year old member of GC would own one.

    And I am about 90% sure that bill won't pass again.
  10. I'm sure there are options for a lower minimal investment, there has to be alternative solutions. It just takes an amount of research
  11. In state of California it only cost you 30k to start a walk in collective exactly. Have family owns some biggest clubs in socal and we're talking about opening one in LC. So financial isn't issue. You must be knowledgeable in cannabis not just sativa indica but the chemical compound of it THC THA CBN CBd CBC THCv and so on what each one does to the human body I'm saying u need attend a cannabis school if u cannot break cannabis down into molecules and Adam bonds knowing what it does for you.

    Sent from my SAMSUNG-SGH-I317 using Grasscity Forum mobile app
    The page has regulatory code for the medical/retail programs, application and license info, etc. Start by finding the equivalent for Kentucky. Ours is many, many pages long but reading through the details will give you a grasp of what is really required. For instance,within ours has info on requirements to be a business owner including personal background, requirements to be a Lab Director for Laboratory Testing Facilities, inspection and procedure requirements, everything.
    A big part of what's happening right now is that these regulations are new/constantly evolving. In the case of CO, I found online some great Q&A's that summarize a lot of the basic stuff but there wasn't much in the way of resources, spelled out in laymens terms, summarizing the details. It's just too new. Sure in 10 years there will be guidebooks everywhere for how to proceed but it just ain't there yet!
    So YOU have to be that guy! Start with the regulatory code and read the black and white details. You will also need to proceed with a "420 lawyer" for your state.
    The advice posted from above poster is spot on. The future of marketing cannabis is not going to be tied to sativa/indica so much as the potency and presence of various cannabinoids. Essentially, the potency and allotment of cannabinoids is going to be the true marker for "strain vs strain" comparisons. In CO for instance, potency and etc testing is MANDATORY for all retail sales. The lab-tests give you a much better indication of what you are truly consuming. Sometimes the product sold under a certain strain name isn't that strain at all. Lab testing sorts through - people will be buying the verified properties and cannabinoid/flavanoid/terpenoid content, not the strain name. Know the "top 8" cannabinoids, difference between the acid and "active" states such as THC-A vs THC, vapor flash (boiling/release) points of the cannabinoids, learn about terpenoids and pharmacological properties, etc.
    One of the best ways (and in many cases a requirement) to legally enter the business is to be a patient yourself. Get your own medicinal card. Know first hand how this system works starting at the patient level. Plus, depending on your local laws this may be a requirement - non-profit collective/co-op operations are allowed whereas opening a store just to sell medicinal cannabis is absolutely illegal. So to be legit non-profit, essentially it is supposed to be a "collective" that basically oversees the exchange of cannabis between medical cardholders. Everyone, including the cultivators are members. This is where knowledge of regulations and local laws is critical, as well as using lawyers when appropriate.
    Classes aren't a requirement perse so much as investment capital is. I know there are classes available and if it's legit then absolutely take the course. Most business people are expected to undergo courses and continued education in their field. A lot of the learning, however, starts on your own. Esp regarding the properties of cannabinoids and whatnot. The biggest barrier is legal capital/funding and securing the real estate. AFAIK banks were issued "guidelines" about working with canna businesses but they still are weirded out because of the federal level legalities. Banks like Wells Fargo have been reported to not extend/endorse business loans if discovered that it's related to a canna business. Likewise for landlords and commercial property owners - not everyone wants to do business. IMO these issues are the biggest barriers, moreso than school-type education. If you do choose classes make sure they count. IE related to the business and regulatory framework if you intend to run a business; horticulture and botony if you want to be a cultivator.
    Start researching online and "become a leader of your field" as the old, wise, Earl Nightingale would say. Get your card and legally grow your own. IMO people who jump in just for the money will get blown out of the water by people who are legitimately "into" cannabis culture. There will be a lot of competition but honestly, we're sitting on the cusp of a billion dollar + a year industry that is about to grow towards 10 bil + over the next 5-10 years. An entirely new industry is being built and with it, tons of new jobs, careers, income and revenue. It's not a question of IF the money will come - but WHO will be in the position to capture it.
    Best of luck! If you really want to be a part of the great change and have a love for the plant, go for it. Approach it with enthusiasm for sure, but DEAD SERIOUS in the business sense. Not only will there be competition but you'll want to set yourself apart from the "bad apples." You surely don't want to give people the impression that you're "just another" dirty stoner looking to get paid for smoking weed. Be a professional business man, an industry leader. Set a great example for yourself, your community and the culture.

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