Are you thinking of starting up your own cannabis business, don’t have the funding to do so, and are looking to get info on cannabis financing? Do you want to know how you could go about finding investors for your new cannabis business?
These days, cannabis businesses are popping up all over the place. Retailers like Daily High Club are offering top-class products that every consumer would be delighted to have, and you can find everything from dab rigs such as these, to pipes, bongs, and many other devices and accessories. While now Is the best time to jump into the industry, there is already too much competition. However, starting your own business, even in the cannabis industry, can be very expensive.
This is when you need to find investors. With the cannabis industry growing at such a rapid pace, many investors are looking to get in on it, you just need to know where to look. Here are the best ways to find investors for your cannabis business.
Online Business Loan
Because cannabis and the cannabis industry are still fairly new and still seen as something taboo and partially illegal in many places around the world getting a loan for a cannabis business, especially a startup cannabis business, can be incredibly difficult.
You can refer here for cannabis business loans and find out all you need to know about getting a loan for your business. In recent years, online business loans have become more popular, particularly for startups in industries like cannabis.
At this point most banks around the world will not offer any kind of loans or investment for cannabis businesses because of their illegality of it, however, there are many different ways around it and you should take a look at all of your options before quitting.
First and foremost, a good option to consider is applying for an online business loan. Most online loan companies will be more lenient when it comes to learning money for a business within the cannabis industry and this is something that you should seriously consider. A great benefit of doing this is that there is a far more streamlined process and a much higher approval rate however the interest rate might end up being incredibly high.
Go To Public Business Events
the next way to find investors for your cannabis business is to put yourself out there and market your company as much as possible at public business events. Businessmen are always looking for new investment opportunities and the cannabis market is a great opportunity for investment at this current point in time because of how much growth it is seeing.
When going to these public business events you want to look for what is called an Angel investor. Essentially what this is, is a single person who has a lot of money and will fund your business or rather the start of your business in exchange for a percentage of shares in your business awesome ownership in the business
Going to business events to network with established names is a great way to find many different people who might consider investing in your business
Public Funding and Donations
Something that many people may shy away from or may not be up to trying is public funding or donations, otherwise known as crowdfunding. Most business owners don’t want to start their business off by begging for help from the public, but this isn’t what you should see it as.
Public funding and donations could be a great way to build up the funds that you need in order to set up your cannabis business and get it up and running. There are many different sites that one can choose from when it comes to setting up a crowdfunding or public funding and there are so many different people who are willing to donate to these kinds of things even if it doesn’t benefit them.
These public donation accounts should only be used exactly for what they are intended to be used for and what you say they will be useful, and you should show the progress of the business along the way to encourage more people to donate.
Ask for help from your family
Last but not least, when all else fails, and you just can’t find the investment that you need, there is no shame in going to your family and asking them if they would like to invest in your business too. Borrowing money from family can be very tricky and that is why in the case of borrowing money from your family you should always treat it as a business transaction just as you would with any kind of bank or online loan company.
You want to make sure that nothing goes wrong when asking your family to invest or when they are investing since this could end up with bad blood between family members and you don’t want this to happen. If they do have the means to help you there is no shame in asking and it could be a very good idea.
