If you’re starting a cannabis business, it’s best to find cannabis investors. With the cannabis industry projected to grow to $66.3 Billion by 2025, it’s one of the fastest-growing industries right now, and with that growth comes many eager investors. Reaching out to investors for your cannabis business is a great choice, especially since complex U.S. laws mean cannabis businesses are currently unable to get bank loans.
Many investors are now looking for upcoming businesses in the cannabis and hemp industries. If you have a solid business plan, chances are you can find plenty of interested investors. But where are the best places to find investors looking to invest in the cannabis sector? Here are some helpful tips on how to find cannabis investors.
Use Cannabis Business Directories
Business directories are extensive lists of businesses often catering to specific industries and interests. Cannabis business directories are a fantastic place for companies to list themselves to gain traction, improve SEO, and make themselves visible to potential clients and customers. They can also be a great source to find cannabis investors.
Many investors use these directories to find interesting cannabis startups and businesses needing funding. Listing yourself in as many directories as possible can be a good way to start generating interest. Business directories can be especially useful for startups, both for finding investors and gaining some traction.
You can also reach out to investors through cannabis business directories. Some directories such as Cannapany are tailored to investors, making it ideal for listing your startup. But many others, such as Ganjapreneur and The Cannabis Business Directory, can also help you garner attention from potential investors.
Attend Cannabis Industry Events
Another great way to find cannabis investors is to attend cannabis industry events and expeditions.
These events are great for many reasons- they often include speeches and seminars to help cannabis businesses, give businesses an opportunity to get their name out there, and offer a perfect way to network with industry professionals face-to-face.
Networking at cannabis events often gives you the opportunity to meet new clients, especially if you’re a B2B cannabis business service. They’re also ideal for meeting investors. If you meet interested investors in person, you have the chance to pitch yourself directly and get them interested in what you have to offer.
Some of these events are even tailored to investors, such as the Cannabis Investor Forum, but you can find enthusiastic cannabis investors at all kinds of industry events. Make sure you prepare ahead of time. Having a solid pitch and being able to show the potential success of your business can go a long way when it comes to getting investors interested.
Although face-to-face meetings are often important for investors, online networking is an incredibly effective way to meet potential investors in today’s digital age. Many businesses find potential investors through social networks, forums, and websites dedicated to the industry. Utilizing online networking can be a very effective way to meet potential investors.
There are many ways you can do this. You may want to join cannabis-related groups on social media platforms such as LinkedIn. There are many LinkedIn cannabis groups for networking where you can often find investors. You can also use cannabis social networks. While some of these are designed purely for social use, there are business-focused cannabis social networks like WeedCircles.
Knowing how to reach out to investors with a solid business plan and pitch will help here. While it helps to meet investors or call them to discuss the details of your business, websites and social networks are great places to find investors in the first place and establish contact with them.
Ask Your Peers
One of the simplest ways to find investors for your cannabis business is simply to ask around. Many businesses start when friends ask their peers to help them with funding. You may end up with some interest-free investment or even a new business partner.
It’s best to start by asking your professional contacts. It’s especially helpful if you know people in the industry. Asking around to see if anyone wants to invest in your startup or knows anyone who might be interested might just lead you to the perfect opportunity.
You may also want to ask family and friends. In fact, many entrepreneurs gain funding for their business by asking family and friends to invest. While it’s still important to pay them back, it’s usually much more hassle-free than other avenues of funding. No matter who you ask to help you with funding, make sure you present your business plan and let them know what to expect as far as profits go.
In the past few years, crowdfunding has become an extremely popular way for startups to gain funding as well as letting interested consumers act as investors. There are many online crowdfunding platforms where you can present your business idea and ask for funding.
Some businesses start with investments from crowd funders without having to pay anything back. However, it’s best to offer your funders some kind of incentive or payback as a common courtesy as well as to catch their interest.
Platforms like Kickstarter and IndieGogo are especially popular for crowdfunding. However, another great option is to use crowdfunding websites designed specifically for cannabis businesses. Sites like Fundanna and CannaFundr focus specifically on the cannabis and hemp industries. As such, you’ll find many investors interested in your specific field when you use these platforms.
While you may have a tough time getting a bank loan for a cannabis business, there are many ways to find cannabis investors. Utilize professional social networks and even social networks tailored to cannabis enthusiasts. These can be fantastic places to find enthusiastic cannabis investors. You should also check out cannabis business directories and cannabis events.
When looking for investors, make sure you know how to pitch your ideas to them and explain to them concisely why they should invest in your business.
Having a thorough business plan will help in this regard. If you need help building and marketing your cannabis business, check out MarijuanaSEO for information, guides, and marketing services tailored to the cannabis industry.