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Tuesday, March 5, 2013

How to Open Your Own Marijuana Business

Posted by on Tue, Mar 5, 2013 at 11:30 AM

Every red blooded, non-Mormon American male has dreamt of getting filthy rich by getting people high. The moment marijuana use became legal for Washington adults last November was the moment hoards of half-baked marijuana enthusiasts began seriously contemplating opening their own legal grow operation, dispensary, delivery service, or circus-themed, marijuana-laced dessert parlor.

But launching a legitimate state business is more complicated than simply selling people weed—business owners must know about development zones, federal and state tax laws, even how to get a bank loan to sell federally-prohibited substance. Basically, they need a crash course at marijuana school.

Fortunately, Seattle now has such a school.

“We get you ready from the ground up—including giving you access to four or five different lawyers who specialize in working with marijuana businesses,” explains George Boyadjian, the man behind the Washington Cannabis Institute. Boyadjian started a similar institute four years ago in California because he liked smoking weed and had a background in business. Since then, he's explaned his marijuana school into Nevada, Arizona, and now Washington, where $300 buys you a spot in the two-day seminar. The next one scheduled for Seattle is on March 23. Boyadjian says the foundation of each class is teaching safe business practices. This includes presentations from tax attorneys, business attorneys, corporate attorneys, and criminal defense attorneys who educate participants on what could happen if they “go beyond the law,” as Boyadjian delicately puts it. The school also explains the differences between medical marijuana businesses and those that will be newly legal under Initiative 502, timelines for 502's implementation, and what to do in the instance of a federal raid.

“We’re not talking about how great marijuana is or what it does for patients, we talk about the stuff that people don’t want to talk about: The dangers and practicalities of the business,” Boyadjian says. “People need to hear this type of stuff. It needs to sink in that there are harsh realities with this line of work. This isn’t a regular industry—there is a thin line between going home at night and going to jail. It’s a very thin line.”

 

Comments (7) RSS

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rob! 1
If I had some half-baked pot brownies, I would hoard them, he said slyly.
Posted by rob! http://www.youtube.com/watch?v=QZBdUceCL5U on March 5, 2013 at 11:47 AM
2
lets see: $300 bucks for presentations from other professionals who are looking to get your business and likely do initial consultations for free anyway? Sounds like, ahem a *smoking* deal....
Posted by Randy Beaver on March 5, 2013 at 11:48 AM
Original Andrew 3
Now that Wall Street & Big Bizniss are doing their victory lap over achieving their goal of totally exterminating the American Middle Class (RIP), the narco-economy is all that the rest of us have left.
Posted by Original Andrew on March 5, 2013 at 12:24 PM
Urgutha Forka 4
@3,
As soon as pot is federally legal and legal in every state (which should happen within the next 20 years or so, I think), big corporations will start selling it and all but a handful of the little local dispensaries and mom-and-pop pot stores will disappear.

I have complete confidence that Big Business will gobble up even the narco-economy, like it does everything else.
Posted by Urgutha Forka on March 5, 2013 at 12:56 PM
5
@4 Legal pot costs like, nothing, to grow. It actually is a weed. Well, good pot takes some horticultural effort and expense, but still. Some huge percent of the street price of illegal pot is markup. I'd really like to see states get most of that money once it is legalized everywhere.

The problem is (from the point of view of controlling the market), it's a weed, and it'll grow almost anywhere, so it's hard to keep an exclusive, or even to collect taxes without clandestine growers sidestepping them.

It'll be interesting to see how this market develops.
Posted by Brooklyn Reader on March 5, 2013 at 2:42 PM
Urgutha Forka 6
@5,
Yeah, but heroin comes from a plant too. And tobacco. Those are both more difficult to grow than marijuana, but not impossible. And people can brew their own beer.

But big business makes it cheap and convenient.

I have no doubt that some people will still grow their own, and that some small, local growers will survive. But I think eventually it'll all be big business pot, and I have no doubt they'll find some legal way to prosecute people who try to get it or grow it some other way. Big businesses are by and large a bunch of self-serving fuckers who'll knife their own mothers to put another buck in their pockets.
Posted by Urgutha Forka on March 5, 2013 at 3:02 PM
7
Hmmm, a Cali business and law dude coming to tell WA how to do the I 502 legal business deal ..... NOT, WTF, peeps, Cali is not the best example of how to do this business. So homeboy comes north, hooks with the local talent, hustles newbies (cause most of the players already know the lawyers, accountants etc who have done this for FREE quite often).... Why does anyone need this???
Posted by pupuguru on March 5, 2013 at 9:00 PM

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