19a Idea napkin 2
YOU: I’m a Florida resident who
is a victim of constant pain due to a car accident. After both of my
grandparents, who also suffer from chronic pain, tried marijuana in a legal
state, they were overjoyed with how much it helped them. After seeing this, compounded
with being tasked with finding regulatory opportunities, I decided to take
advantage of the inevitable legalization of marijuana in Florida. Although I’m
relatively young in the entrepreneurial sphere, my wealth of real-world work
experience for my age. My strengths include strong communication skills,
reliability, and ability to work well with all customers, no matter their
spending ability or background. I see this business as both an ode to and a
service to my grandparents giving both them and myself the treatment we
deserve.
What I am offering to customers: I am offering wholesale marijuana to customers, assuming the business is able to legally materialize in the state of Florida. In order to accomplish this, I would have trained buyers following leads for farms growing to negotiate a price and wholesale their product to dispensaries. These buyers would also negotiate distribution deals with farms and stores, which could lead to exclusivity agreements and licensing deals.
Who am I offering it to: As I learned in my interview, the best margins is wholesaling the product rather than selling direct to customers. As I am approaching this opportunity at more of a macro level, new and established storefronts within the state of Florida will be my customers as opposed to the general public.
Why do they care: It’s no secret that demand for marijuana will skyrocket once the legalization legislation passes in Florida. Because many storefronts will have already been established before grow houses in the state, they need to get their product from somewhere. I can be the connection they are looking for, bringing in product from other legal states (legally) to both make money and sell at affordable prices. Also, My business would specialize in getting varieties that are difficult to find, to fulfil the need of shops catering to higher income customers.
Core competencies: What sets me apart from everyone else is the unique opportunity to be first to market in an already proven industry and concept, which both eliminates risk and gives more opportunity for reward. Also, the varieties that I can acquire from other legal states will set my business apart from other wholesalers.
What I am offering to customers: I am offering wholesale marijuana to customers, assuming the business is able to legally materialize in the state of Florida. In order to accomplish this, I would have trained buyers following leads for farms growing to negotiate a price and wholesale their product to dispensaries. These buyers would also negotiate distribution deals with farms and stores, which could lead to exclusivity agreements and licensing deals.
Who am I offering it to: As I learned in my interview, the best margins is wholesaling the product rather than selling direct to customers. As I am approaching this opportunity at more of a macro level, new and established storefronts within the state of Florida will be my customers as opposed to the general public.
Why do they care: It’s no secret that demand for marijuana will skyrocket once the legalization legislation passes in Florida. Because many storefronts will have already been established before grow houses in the state, they need to get their product from somewhere. I can be the connection they are looking for, bringing in product from other legal states (legally) to both make money and sell at affordable prices. Also, My business would specialize in getting varieties that are difficult to find, to fulfil the need of shops catering to higher income customers.
Core competencies: What sets me apart from everyone else is the unique opportunity to be first to market in an already proven industry and concept, which both eliminates risk and gives more opportunity for reward. Also, the varieties that I can acquire from other legal states will set my business apart from other wholesalers.
Memo: My main point of feedback was to discuss the logistics of my business more. I have described both the process and the logistics of wholesaling legal marijuana more in depth than in the previous idea napkin to further describe the situation to persons of interest.
Timothy, I think you have absolutely recognized a budding market that will offer a lot of opportunities as it comes closer to fruition. I hope you continue to adapt your idea and actually make something of it since it isn't just a viable business idea, it is something that can help a lot of people. I think it's admirable that you have focused on helping people as part of your business idea.
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