The economy is already going through it's own "green" rush now and people are very interested in finding a way to cash in on the country's newest and hottest industry.
If you're here, you probably already have a great idea for a cannabis business. Having an idea for a business is one thing, but finding a way to finance it is quite another.
People that want to see their business plans come to life are going to need to learn how to find investors. And we're going to give you a little advice on the best way to find business investors.
Three Easy Tips on How to Find Investors
Finding investors for small business is always tough, and it can be especially challenging in an industry as new as marijuana.
It's important to note that every aspiring businessman should have a good lawyer on their side for the investment search. You'll want to make sure that you're doing everything by the book and are protecting yourself and your new business.
Once you're in a good place to start looking for investors, remember to keep these tips in mind.
1. Make Your Business Plan
When we talk about having a business plan, we aren't just talking about a good idea or two.
It doesn't matter if you're trying to get financing to resell CBD products or are launching a tech startup. Every investor wants to see a solid business plan that can convince them to invest.
Your business plan won't just reassure investors that they're making a wise choice. It'll also serve as a roadmap for your work.
Be sure to spend an ample amount of time on finances. You'll want your plan to seem financially sound above all else.
If you need help writing a thorough business plan, this guide can help.
2. Get on AngelList
There's a networking platform for every niche now, and AngelList is the one you're going to want to be on if you want to find angel investors.
AngelList is an easy way for investors to learn about you, and for you to do your own research on potential investors.
Make sure that you put as much information as possible in your profile. Don't just talk about your idea, give investors information on your product, team members, and overall business plan.
Once you’ve filled everything out, make AngelList a big part of your search. Give interested investors the link to your profile. Spend time on it each night and don't be afraid to reach out to people you think may be a good fit.
3. Consider Crowd Funding
If you aren't having luck with finding one investor, why not build your business with the help of several of them?
Crowdfunding is still a relatively new practice, but it has helped a considerable amount of people follow their business dreams.
There are a surprising amount of crowdfunding sites that are specifically for people interested in the marijuana business. Check out websites like Fundanna and CannaFundr.
When you're thinking about crowdfunding, think about the two main ways you can raise money.
If you go down the regular crowdfunding route, people that give you money could get some kind of reward or prize for it. You could choose to give them free products or include their name in packaging or promotions.
People that want to find more permanent investors should consider equity crowdfunding. Equity crowdfunding sites give backers a piece of the company, they essentially become your investors.
Want to Succeed?
When you're wondering how to find investors for your business, make sure to remember what you learned in this post. There are a lot of resources out there for people that want to start their own marijuana business.
Do you have more questions about the best way to get funding for your business? Are you curious about learning of other ways to get into the marijuana market?
Make sure you contact us so we can answer your questions.