California, nicknamed The Golden State, is known for its beautiful scenery, warm temperatures, and liberal social policies.
It was originally a utopia for people who could not find a place else where they were happy and comfortable. Many moved to California in the middle and late 20th century for jobs in the booming economy.
Job opportunities increased as the military built more bases throughout the state. There were also media effects, as California has become known for its high-quality of life and quality of life products.
There are two groups of people who own and operate cannabis businesses in California: start-up companies looking to grab some quick capitalization or established businesses looking for additional space to grow in.
The California Dream is still alive, and those who pursue their dreams can achieve great success
The California Dream is still alive, and those who pursue their dreams can achieve great success. There are many ways to see this, as many small businesses advertise on television, in magazines, and through social media.
Businesses are majorly located in the large cities such as Los Angeles, San Francisco, San Diego, Oakland, and Berkeley. These cities together account for over 50% of all business owned by individuals in the United States.
Many people find success in business after being able to realize a dream. Since 1991, the California Dream Act has allowed certain people who are working hard and trying their best to get ahead to spend some money and quit working so hard. This law was created with the intention of helping out aspiring business owners get started.
Marijuana legalization brings many business opportunities
Once cannabis becomes more mainstream, less-informed individuals and institutions look at it as a way to make money. Thus, it enters the black market, where entrepreneurs capitalize on consumer demand and legislative changes to become rich and famous.
Many marijuana entrepreneurs are college graduates with experience in marketing, finance, and business. These individuals have leveraged their positions in the community and industry to build successful businesses.
Some start as students at small colleges or universities and move up through the business world through internships and work experience. Others begin as professionals in the cannabis industry but move forward into a career when they graduate from college.
These individuals take what they learned in school and apply it to their businesses, building confidence in themselves and their abilities. By successfully running a business, they show others that they can be successful people too.
Inspirational California cannabis entrepreneurs
California has a rich cannabis culture. Not only do many dispensaries operate in the state, but also high-end cannabis clubs such as the Los Angeles Cannabis Club. Many of these members are former gang members and drug dealers, who have successfully rid themselves of the negative stereotypes associated with both groups.
This marijuana community is an incredible inspiration to new entrepreneurs. It has been said that business can be like sex: you start off easy, but soon you’re not satisfied enough to continue!
They teach you how to be successful by having successful people around them. People like Tom Green, Joe Pedregos, and Mike Salvi helped me get my business off the ground and keep going after I expanded.
The Golden State has some of the most successful cannabis businesses
Many Californian entrepreneurs moved away as children and joined the cannabis industry as young adults. As young adults, they ran into the same hurdles as new investors and executives crop up including finding an opportunity, developing credibility as a leader, and securing funding to grow their business.
These leaders play a crucial role in their company as manager, trainer, or trainer-n-seller. They are accountable for every employee’s job performance and reception of treatment. As a leader, you must have the qualities of confidence, tactility, and confidentiality to be successful.
If you look at some of the more prominent California cannabis CEOs, many have started their businesses just like you did with them. They went through training programs from respected organizations such as Green Business Training & Development (GBT), developed credibility through previous business roles and experiences in the industry, and then stepped up to the plate to run their companies.
Success takes effort, not luck
Most people think being an entrepreneur is a matter of luck, but that is not the case.
Cannabis legalization in California creates hundreds of business opportunities
When a state legalizes cannabis, it opens the door to thousands of small businesses.
Before, these businesses were limited to pot growers and manufacturers, but now there is a wide array of products that are cannabis, from dried flowers to oils.
Many of these startups are starting up to capitalize on the growing market. At least partially due to cannabis legalization in California, there are now thousands of startups that exist to produce and sell cannabis-related products.
Some have said startupitis has hit the state, as many see joining the fast-growing industry as an imperative for success.
Starting a marijuana business in California requires plenty of paperwork and licensing
There is a state-issued license for operating a marijuana business, and it is called a cultivation license.
To have this license, you need to complete an application process and receive enough points from your cultivation license to upgrade to the manufacturing license. Once you have the manufacturing license, you can start making your products!
Many new entrepreneurs find it helpful to join an online community of California Dreamers who are starting businesses. Many meet weekly to share ideas and support each other. You can also go to local coffee shops or stores and ask for help finding a product or equipment they might have available.
Financial requirements for starting a marijuana business in California
As a marijuana business owner, you can start your operation as soon as you obtain your federal legal permit to sell cannabis, however, until then, you must be covered by revenue from your product.
You must have enough money in the bank to cover expenses for at least six months. Your debt will have to be collected quickly or you will be out of business before you start.
As an existing California Dreamer, you can apply for grants and loans through the Department of Homeland Security (DHS) which allow you to start a business but require certain financial obligations in order for them to grant access.
You must show proof that they are valid before they grant access and take the time to assess if they are the right fit for your business.
