There’s certainly more risk than, say, buying Apple stock, but if you’re wealthy and also risk tolerant, you could help fund operations.
Bufford is preparing the final stages of a 506(c) prospectus for investors. Bufford said Crowdsmart Inc. is looking to raise $10 million to fund the operations, and Bufford said he’s got about 100 people waiting on the prospectus already.
- Agricultural expertise needed
While Florida’s climate might be pretty ideal for growing marijuana, chances are medical marijuana would be grown indoors.
That means opportunities for companies that know how to hydroponically grow crops, as well as construction companies that have built grow houses before.
“There’s a large opportunity around LED technology,” Bufford said. “When you look at the growth pattern and need for specific light patterns and spectrums, there’s an industry that could pop up to create LED panels specifically tuned for the plants you’re growing.”
- Support services
Medical marijuana companies would need lawyers, accountants, insurance products and information technology support. Security would be an absolute must.
Heck, Bufford said Medical Marijuana Tampa wants to build software that would track patients and doctors to keep an eye out for doctors over-prescribing and patients shopping doctors, similar to the systems used to crackdown on pill mills.
And if he’s successful, the plan is to eventually franchise “to bring our model to as many place in the U.S. as possible,” Bufford said.
By who? A drug company like Pfizer or Johnson & Johnson. It’s the old “if you can’t beat ’em, buy ’em” strategy.
-In my personal opinion I think that the greatest sustainable area is going to be the "support services" mentioned above. Remember that when the gold rush miners moved out to California, many of them went broke. Who got rich? The support service industry that sold them all of the items that they needed. Canvas, picks, buckets, shovels, food, prostitutes, etc. The key is to find the modern equivalent of what the gold miners needed. The difference being that this "green rush" will be sustainable and won't fizzle out. Yes there are suggestions above, but there are so many more that will be needed. Whatever you decide on, establilsh a brand quickly so that you can eventually charge a premium for it.
Marijuana has been rolling across this country from California like a freshman rolling a blunt. First as medical marijuana and now full legalization in Washington and Colorado. The country, according to opinion polls, has done an about face when it comes to this issue. Many tens of millions of dollars are now rolling into govt coffers to help fight other more serious crimes.