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| Forums > IC Magazine > Cannabis Business Network > making money in a legal market | ||
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#61
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No offense to the poster or those who followed up after, but this is funny to me. 200k? You want a surgeon's salary to take care of plants? How well do you stack up compared to the endless army of recent college grads holding a BS in Botany / Horticulture or, better, an advanced degree with very specific skill sets (i.e. tissue culture, molecular breeding, IPM systems, etc.). They understand that legal cannabis = normal wages in exchange for a killer opportunity to do something that you love everyday. Margins become tight very quickly when product doesn't move and I don't know of a SINGLE successful company that hires a "grower" and pays wages like that.
Hell, my brother and I co-founded and 100% own our company and have been cranking out great production varieties for four seasons now (i.e. we're established); we did it ALL--breeding, farming, scrubbing cloners, filling pots with soil, watering, answering emails, meeting clients at all hours of the day, filing paperwork, dealing with the banks and credit card processors, etc. etc. etc.--on our own until the middle of last year. At no point--even now that we're experiencing solid success and demand--has our COMBINED incomes even approached the number you threw out there. Legal cannabis = regular farm job wages. That's the reality. 200k a year? Shit, I'd be stoked to get there myself. |
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#62
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I don't mean to be insulting so don't take this the wrong way. Take it as constructive criticism. You don't have a business, you have a job. And dealing with banks? How in hell do you do that? Because money from your industry, deposited in a bank, equates to federal money laundering for them. lol I'm 60 and was 18 the last time I worked for anyone. I sold my first business at 25 because it was a job. But the sale let me go back to school for a business degree because I was obviously missing something. I've had three businesses since then and always made a business income. If you can't clear 80-100k on your own, then you're doing something wrong. Are you looking vertical? In this day and age, you should be. Even guerilla growers are going vertical by adding value to their flower. The days of growing one product for everyone are almost gone. Mexican farmers are moving from weed to poppies, but it'll be a few years before a demand for domestic supplies rebound. And there's a fight brewing in the US over the legalities that also work against you. By the time the dust settles, there won't be any room for you to compete against the economies of scale corporations will bring, unless you go vertical and be ready to supply those corporations with preprocessed products. Think about your future and invest now, or you'll sink after years of low profits. |
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#63
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#64
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But if you're happy with where you are, cool. Otherwise look at where you're headed and adjust. |
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#65
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THIS is why many people end up screwed over after forking over $$$ to a self-assured consultant (with no real experience in the cannabis industry) who directs them to pay "growers" $200k a year in an oversaturated market. Brilliant. I tire of the peddlers, flimflam artists, and carnival barkers. It's like they all crawl out of the same level of Dante's hell. Same soul, different face. |
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#66
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#67
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Didn't realize we were yelling or measuring Richards. Thanks for the offer on advice, but I'm good (thanks). We're making a lot of feminized seed and selling pretty well. We probably don't make nearly as much $$$ as other seed producers because our prices are so low, but business has been pretty good.
Tell us more about the services you offer. What's your hourly fee? |
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#68
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My life is compartmentalized, so I don't offer those services in forums. They're incompatible with the culture. Maybe one day they won't be. Now if you have requirements, you can post them with Altis, I might see it.
Just look at a recruiter in your area and ask them to find you a successful retired business exec to look over your operations. Fees depend on the gig and client. |
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