I have a C corporation in the beginning stages of development in Washington state. We are a licensed tier2 Marijuana producer and have made our first sales. What we need is capital to compete and to modernize our equipment and to purchase the land where we currently hold our operation. We are looking for 600,000.00 to 1.4 million. Where do I find a business partner that can deliver, be my mentor and take this company to the next level?. Everybody talks a good game, but very few can deliver, or the terms are very harsh with the only person that makes money being the investor.
Let me start by saying that I agree with Mark. You must separate the search for investor(s) and a mentor. The terms have been harsh because you are currently asking the investor to take all the risk while you come along for the ride. The way your describe it the investor must put their capital at risk then (mentor, i.e. tell you how to run the business) while you provide presumed sweat equity.
My second observation is that you say you have sales. What are your current profit margins? What is the competitive landscape? Other marijuana sellers in your area? Do you have a differentiator? You should be growing and selling as fast as you can with the resources you have and putting every dollar into a down payment on the land. When the down payment is above 20% you should be able to find at least a hard money lender.
If you can't grow doing the above. I recommend that you keep your lic. and withdraw until you can draw up a business plan and have it vetted by several potential mentors. Then finalize the plan and march forward.
Alternatively sell the license.
Answered 8 years ago
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