A group of investors interested in the medical marijuana industry gathered in Denver yesterday for a meeting spearheaded by CDS Management Services, Vicente Consulting, Centennial Seeds and CSSB Private Bank.
The turnout was strong, with several dozen people on hand in a conference room at the swanky Oxford Hotel.
The level of participation in the free event is an encouraging sign for dispensary owners and people just getting started in the industry, as it shows that investors are indeed interested in the medical marijuana sector.
Small businesses in general are having a tough time landing loans from big banks, forcing them to seek out alternative financing methods. The situation is even more difficult for dispensaries and other companies in the medical marijuana industry, which most banks have completely shunned given that selling weed to patients is still illegal under federal law.
Sheesh, are you ever going to get a break?
The event included presentations by the four organizers and financial analysis firm See Change Strategy, providing potential investors with a good overview of the medical marijuana investment climate in Colorado.
The presenters recommended that investors seek out dispensaries following a wellness model (rather than the ones that obviously target recreational users). So if your marketing strategy involves babes in bikinis with bongs, you might want to consider shifting course if you’re going to need financing any time soon.