What would you do with 65k and a store front with land.

I have an older retired friend. And he has access to 65k and 2 store fronts on a major road that gets 50+k cars driving past it. The building is on about 1acre of undeveloped land that is mostly behind it, small parking lot in front. And would be owned, not leased.

He currently lives in a non-medi state, but they are voting in November for medical and all the polls look like they are going to vote yes.

If you were him, would you get in ahead of the curve and open something medical marijuana related? That's what he wants to invest in, seeing all the potential.

He wants to open a gardening/hydro shop and then convert to a dispensary when all the legals are worked out.

Anoher option he concidered would be boat or rv storage since it is near ocean access water and camping..

Thoughts or suggestions? Any one here ever open an indoor/outdoor gardening store with experience or advice?

Save your money. 65k is not gonna get you into the MMJ industry. Overhead is thick. Wallet checks are heavy.

Better off just opening the hydro store.

SnapsProvolone said:

Save your money. 65k is not gonna get you into the MMJ industry. Overhead is thick. Wallet checks are heavy.

Better off just opening the hydro store.

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Funny you said that. I saw the thread name and thought to myself, "Only 65k?!". I need $700,000 (start up) to do what I got planned. But that also includes annual salary, purchase of building, equipment, renovations, nutrients, and power. The 2nd fiscal year in my model will still cost $280,000 to operate (including annual salary). Projected power bill would be $180,000 alone.

endpro said:

I have an older retired friend. And he has access to 65k and 2 store fronts on a major road that gets 50+k cars driving past it. The building is on about 1acre of undeveloped land that is mostly behind it, small parking lot in front. And would be owned, not leased.

He currently lives in a non-medi state, but they are voting in November for medical and all the polls look like they are going to vote yes.

If you were him, would you get in ahead of the curve and open something medical marijuana related? That's what he wants to invest in, seeing all the potential.

He wants to open a gardening/hydro shop and then convert to a dispensary when all the legals are worked out.

Anoher option he concidered would be boat or rv storage since it is near ocean access water and camping..

Thoughts or suggestions? Any one here ever open an indoor/outdoor gardening store with experience or advice?

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Sorry.... I read the 2nd post and thought you guys were talking about a grow site. Best advice I can give you for a store front grow shop is, research your local market before any money is spent on it. Then, if you think that the market in that area is strong enough to support the business, the next thing to do would be to look for wholesalers who will offer lines of credit on their products. Other than that, just need some shelves to put the products on and to get the word out there about the business, and the need that it fills. Be careful that customers don't talk about using products for growing weed, though. Because, it'll turn selling simple indoor grow equipment into selling drug paraphernalia.

Also, I think that converting into a dispensary, later, would be a bitch to deal with (as far as filing paper work with the state, keeping books, paying taxes, and all that). Why not just make the dispensary a separate entity that shares space with the grow shop? Separate books, separate bank accounts, 2 very different businesses.

OR Stoner said:

Funny you said that. I saw the thread name and thought to myself, "Only 65k?!". I need $700,000 (start up) to do what I got planned. But that also includes annual salary, purchase of building, equipment, renovations, nutrients, and power. The 2nd fiscal year in my model will still cost $280,000 to operate (including annual salary). Projected power bill would be $180,000 alone.

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What I'm working on will take an axe to both that power bill and the labor costs associated with cultivation. Option B and C are to grow three times as much with the same footprint, or four times as much with a given amount of amps (requires slightly more space to do this). Get in touch for deets, I'm tired of building the future and keeping it hidden in my basement.

Yea well the land is owned and mortgaged. It just needs some thing profitable on it.

I can see keeping the businesses separate. And that could be doable. Still need to do market research if a hydroshop would fill a need in it..

I would do a few greenhouses but chances are its not gonna be easy to get licensed right off you could make do as a florist they do alright.

Start cultivating oyster, shiitake, and portabella mushrooms and sell them for $10/lb