 Owning a cannabis business sounds like a dream for lots of people, but the high cost to start up, and not knowing where to begin, can block that from happening. There are, however, some very creative ways to get funding, and one New Jersey based group has just taken a new approach. The Minority Owned Business, MoJo Botanica, has launched a grassroots crowdfunding campaign which gives people the opportunity to invest with them.
MoJo Botanica were awarded two conditional cannabis license approvals by the State of New Jersey for Cannabis Cultivation and Manufacturing. Their founders have already invested half a million dollars of their own money to bootstrap their business in its startup phase. But, since this is a expensive industry to get a foothold in, they still need more funding. And thus the crowdfunding. This is a unique way to build a cannabis business, when funds are low. And, it is a great chance for individuals to be a part of something that they otherwise could not. Mojo Botanica describes themselves as a “certified minority-owned business with a mission to evangelize cannabis as a source of happiness, inspiration, and holistic wellness.” founder and CEO Tanmoy "TJ" Jadhav, said, "With collaboration and community at the core of our business, we want to create an ecosystem that works together to shape the industry, empower ownership and drive positive change." As a minority owned business, they also consider giving back to their community to be a priority, and they have pledged two percent of its annual revenues toward direct investments in the community through partnerships with reputed non-profits and local municipalities. If you want to check them out, you can go to MoJoBotanica.com website for more information. Or, if this inspires you, perhaps you can use this example as model for building your own cannabis business. As MoJo Botanica said, although "the stakes are high, the chance to make a positive impact on the community through collaboration and expanded economic opportunity makes it worth it.” Comments are closed.
|
RSS Feed