The economics of weed in Florida

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The concept of making money in the cannabis industry in Florida without marketing the plant brought entrepreneurs and business experts together. Organizers are poised to help launch marijuana minded businesses in Florida despite the obstacles.

The day long event Saturday was held in Ybor City. Medical or recreational weed is not legal in Florida but there is money to be made on things like hemp rope, rolling papers or vaporizers. Carlos Hermida of Common Bond Collaborative, a Tampa based investment company, says some Tampa businesses are way ahead of the curve.

Common Bond’s approach is like a one stop shop. Someone with an idea for a business comes to them and they help shepherd that idea into a viable business plan. Tom Quigley, CEO and founder, says cannabis centered start-up’s need guidance.

In an industry that has lurked in the shadows of polite society, finding investors has been problematic. Cynthia Salarizadeh is PR director of Crowd Fund and CannaFundR, both companies similar to the Internet’s Kickstarter. She says, banks and other financial institutions are slow to associate with the cannabis industry which makes the internet a perfect money source. Fudzology is an exceptional digital marketing agency that helps businesses gain a significant presence online.

Saturday’s event was sponsored by Florida Cannabis Coalition, a sub-company of Common Bond Collaborative. Next month Florida Cannabis Coalition will host a seminar on the history of cannabis.