Black Money Business Jobs : Why Blacks aren't getting into the Lucrative Cannabis Business

Discussion in 'Black Money Business Jobs' started by Clyde C Coger Jr, Apr 25, 2015.

  1. Enki

    Enki The Evolved Amphibian STAFF

    Country:
    United States
    Joined:
    Aug 27, 2010
    Messages:
    7,992
    Likes Received:
    4,863
    Gender:
    Male
    Occupation:
    Civil Eng.
    Location:
    The Third Plane of Existence
    Ratings:
    +5,867
    All is not bleak fam....

    http://www.nbcnews.com/news/nbcblk/capitalizing-cannabis-meet-colorados-black-potrepreneurs-n344556

    From Budtender To Business Owner: Bringing Black Entrepreneurs Into Emerging Marijuana Market
    Ways African Americans can enter and profit
    http://www.blackenterprise.com/smal...ities-legal-marijuana-weed-african-americans/

    Also, I know a brutha that owns his and i know he didn't and don't have a mill to put up in advance.

    Peace!
     
    • Like Like x 2
    • Thank You Thank You x 1
    • List
  2. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

    Country:
    United States
    Joined:
    Nov 17, 2006
    Messages:
    41,199
    Likes Received:
    10,523
    Gender:
    Male
    Occupation:
    Speaker/Teacher/Author
    Location:
    Dallas, TX
    Home Page:
    Ratings:
    +12,452

    This is what the Thread was seeking bro. Enki, thanks for the drop:


    http://www.nbcnews.com/news/nbcblk/capitalizing-cannabis-meet-colorados-black-potrepreneurs-n344556

    [​IMG]

    Denver restaurateurs Wanda James and Scott Durrah are the first African Americans to own a dispensary and an edibles business in Colorado. In July, the couple plans to open Simply Pure, a medical and recreational marijuana dispensary and the Simply Pure School of Gourmet Cooking, what they say will be the first cannabis cooking school in the nation.Marc Piscotty / for NBC News


    [​IMG]
    Dan Pettigrew owner of Viola Extracts poses amongst marijuana plants in a grow room Denver, Co. He says his company produces "the finest and purest medicinal cannabis concentrates possible." Marc Piscotty / for NBC News


    [​IMG]
    Marijuana stock investors Charles and Khadijah Adams say their portfolio has grown to 1.5 million shares since they relocated to Colorado a year ago in pursuit of the cannabis industry. Khadijah says she created the Marijuana Investment and Private Retreat (MIPR) with a friend, in hopes of encouraging "the average Jane and Joe Doe and other stock brokers" to take a closer look at marijuana stocks. Marc Piscotty / for NBC News


    ...
     
  3. Inanna

    Inanna Well-Known Member MEMBER

    Country:
    United States
    Joined:
    Dec 2, 2014
    Messages:
    141
    Likes Received:
    55
    Gender:
    Female
    Ratings:
    +125
    In California, marijuana is still recreationally illegal, but in accordance to laws set in place by prop 215 and senate bill 420, you can legally cultivate and/or purchase marijuana to help with any ailments a doctor says you may use the plant for. Once you have a doctors recommendation, about $60 the first time you get one and $30 to renew (on average), you can grow pot, sell pot, or whatever you need to do. Now, you can do all that with a rec, but if you want to be extra careful, you can purchase a card from the California Department of Public Health for $50 that officially makes you a member of California's Medical Marijuana Group. Also, because with a rec you are entitled to grow a set number of plants at a time, you can also purchase a 99 plant card for $100, but technically, you don't need this card either, it just helps with law enforcement if they do come knocking and you're growing more than the 30 or so plants they typically see. As far as starting a collective goes, you open a dispensary much like you would any other non profit organization. If the paperwork is too advanced for you, you can retain a lawyer (back to this later) or you can hire someone with experience to fill and file your paperwork for you. The latter will run you anywhere from free if you know somebody to $800 if you don't. Once you've filed your paperwork you need to acquire a sellers permit because marijuana IS taxed and you need to abide by your cities coding laws. For example, a lot of cities require dispensaries be a certain amount of yards away from public offices and buildings like schools, libraries, anywhere kids might be. Outside of that you have to follow the same rules you'd follow if you ran any other business. You just need your spot set up and some product and depending on how you plan on getting your product you may need to do some networking if you don't already know growers who can supply the amount you need to run your collective. Also, costs will depend on how "collective" you get, if you're starting up with another person, the less you personally have to invest. What you need to have a decent dispensary is laid out pretty well by thedispensaryexperts.com. This is pretty accurate, except in California there is no $4000 state licensed permit, each city has its own ordinances. A lot of cities have stopped giving out permits, because there's something like 1,000 dispensaries in cities like LA alone, and because of people breaking coding laws. But when permits are issued, they're not particularly expensive, if there is even a fee at all. Also, if you live in a city with strict/expensive dispensary laws, you can start a delivery service and work out of your vehicle and avoid the main costs associated with an established dispensary, eg: renting an office and a parking lot and security. Other costs they didn't specify is that of the actual product (I'll go back to that) and telephone service/wifi or some internet connection if you want to make your life easier, as you'll be verifying patient recommendations all day and you'll want to stay up to date as far as your records are concerned, all of which is better done with an Internet connection.If you want to make a more comfortable/lounging type space where patients can chill and test products you'll want to invest in furniture, televisions, sound system, things like that, but plenty of shops run like pharmacies (come and go) so you don't have to invest in any of that if you don't want to. Also, they don't mention the advertising. There are A LOT of dispensaries, many of which have now been running for nearly a decade. So competition is real. If you're just now starting, you need to make your dispensary stand out. Provide an amazing atmosphere and a great product. Business cards, new patient deals, advertising in local newspapers etc is almost necessary and could cost you up to $1000 if you go all out. Back to product, growing your own is your best bet, especially since you can make clones which is a whole 'nother cash cow. There are people on Craigslist who are basically marijuana consultants and will help you start a grow if you don't know what you're doing. One guy offers his services for around $1000, and promises you a pretty legit set up. He offers a 6 light setup and 6 lights can grow you about 6 pounds every 2 months, or more or less, depending on the type of pot you grow, and at around 2400 a pound, again more or less pending on what you're growing, breaking that down to the masses is going to give you a good deal of profit, especially if you sell clones and even edibles/oils/waxes. If you're a collective with a growing partner too, and other growers with more product, you are golden. You will make your money back and more if you play your cards right. And back to the lawyers, part of playing it right is getting a lawyer. There are lawyers who specialize in medical marijuana laws and having one on retainer is a good idea, especially if your non profit is making an amount of money that could be seen as excessive. Having a lawyer is something you'll want to do when you can afford it as that's what's going to cost you. The guy I know paid his lawyer 10,000 a year and would pay more if he actually needed to go to court. In the long run though, that's not bad at all considering what's at stake. But in total, all costs listed, even if you did pay a lawyer 10 racks a year, you're looking at 20,000 to run a legit dispensary with a lawyer, 10 without one.
     

    Attached Files:

  4. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

    Country:
    United States
    Joined:
    Nov 17, 2006
    Messages:
    41,199
    Likes Received:
    10,523
    Gender:
    Male
    Occupation:
    Speaker/Teacher/Author
    Location:
    Dallas, TX
    Home Page:
    Ratings:
    +12,452
    ...



    Video: This presidential candidate hopes to cash in on the pot boom


    Gary Johnson has a backup plan. If the Libertarian candidate for president doesn’t win the White House in 2016, he hopes to profit handsomely from a timely investment in the marijuana business. In fact, he might enjoy that profit even if he does win the White House ...


    https://finance.yahoo.com/news/this...to-cash-in-on-the-pot-business-164655162.html

    [​IMG]

    More

    ...

     
    Last edited: Feb 8, 2016
  5. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

    Country:
    United States
    Joined:
    Nov 17, 2006
    Messages:
    41,199
    Likes Received:
    10,523
    Gender:
    Male
    Occupation:
    Speaker/Teacher/Author
    Location:
    Dallas, TX
    Home Page:
    Ratings:
    +12,452
  6. Khasm13

    Khasm13 STAFF STAFF

    Country:
    United States
    Joined:
    Mar 26, 2003
    Messages:
    10,786
    Likes Received:
    4,234
    Gender:
    Male
    Ratings:
    +4,475
    [​IMG]

    When Colorado’s first
    medical marijuana dispensaries opened in 2009, Unique Henderson was psyched. He’d been smoking weed since he was 15, and he’d even learned how to grow, from his ex-girlfriend’s father. He spent $750 on classes about how to run a cannabis business, and then he and a friend both applied to work at a Denver pot shop.

    Then only his friend was hired. Henderson was more than qualified, so why didn’t he get the gig? His friend asked the managers and came back with infuriating news: Henderson was not allowed to work in the legal cannabis industry because he had been caught twice with a joint’s worth of pot as a teenager back in Oklahoma, and as a result he has two drug possession felonies on his record.

    For most jobs, experience will help you get ahead. In the marijuana industry, it’s not that simple. Yes, investors and state governments are eager to hire and license people with expertise in how to cultivate, cure, trim, and process cannabis. But it can’t be someone who got caught. Which for the most part means it can’t be someone who is black.

    Even though research shows people of all races are about equally likely to have broken the law by growing, smoking, or selling marijuana, black people are much more likely to have been arrested for it. Black people are much more likely to have ended up with a criminal record because of it. And every state that has legalized medical or recreational marijuana bans people with drug felonies from working at, owning, investing in, or sitting on the board of a cannabis business. After having borne the brunt of the “war on drugs,” black Americans are now largely missing out on the economic opportunities created by legalization.

    http://www.buzzfeed.com/amandachicagolewis/americas-white-only-weed-boom#.xvJ6n7oGB
     
  7. Inanna

    Inanna Well-Known Member MEMBER

    Country:
    United States
    Joined:
    Dec 2, 2014
    Messages:
    141
    Likes Received:
    55
    Gender:
    Female
    Ratings:
    +125
    This is true, idk how it works everywhere. In California you can have marijuana felonies reduced to a misdemeanor and then you can have the misdemeanor expunged. That'll take some time and money, about 6 months and $300 per felony/misdemeanor, but it is possible to do.
     
  8. Inanna

    Inanna Well-Known Member MEMBER

    Country:
    United States
    Joined:
    Dec 2, 2014
    Messages:
    141
    Likes Received:
    55
    Gender:
    Female
    Ratings:
    +125
    Also some people automatically experienced this. A few people I know had felonies for possession and they dropped them to misdemeanors when the law changed. I think some misdemeanors were also dropped automatically. It depends what you got caught with. Less than an ounce and you're golden. It sucks for people who are locked up for it though. I'm not sure how many/or if any were released for minor drug cases but I believe some were. I remember they were talking about overpopulation and letting prisoners go but I don't remember who they let out and if it was drug offenses but it should have been.
     
  9. Khasm13

    Khasm13 STAFF STAFF

    Country:
    United States
    Joined:
    Mar 26, 2003
    Messages:
    10,786
    Likes Received:
    4,234
    Gender:
    Male
    Ratings:
    +4,475

    yeah to me it's just another example of a system that was never meant to benefit the majority of black people...only the chosen few...that article was a great piece thought....

    one love
    kkasm
     
  10. Khasm13

    Khasm13 STAFF STAFF

    Country:
    United States
    Joined:
    Mar 26, 2003
    Messages:
    10,786
    Likes Received:
    4,234
    Gender:
    Male
    Ratings:
    +4,475
    [​IMG]


    A Tech Insider article reports that while the legal marijuana industry is making big money nationwide, African-Americans aren’t getting a large share of this boom. 2015 marks the largest increase yet in sales for the legal pot market. Sales have increased 15% to $5.4 billion, higher than the e-cigarettes market and the Girl Scouts combined. With further trends towards legalization, the industry could possibly reach $21 billion and $44 billion by 2020.

    One issue here, though, according to an investigative report by Amanda Chicago Lewis from Buzzfeed, is that African-Americans only own 1% of these marijuana dispensaries, shutting them out from the “green rush.” Lewis notes that while there aren’t any official statistics out regarding race and ownership of dispensaries, she interviewed over 150 people involved in the industry as a part of her report. She found that out of the 3,200 to 3,600 dispensaries in the U.S, black people owned fewer than three dozen of them.

    This industry-wide issue extends beyond just ownership, but towards other aspects of the legalization movement as well. In her report, Lewis notes that industry-related events and press coverage often have very little representation from African-Americans.



    http://financialjuneteenth.com/1-marijuana-dispensaries-owned-african-americans-says-new-report/
     
Loading...