On November 6 of 2012, Washington Initiative 502 to legalize the sale & possession of cannabis for recreational use appeared on the general ballot and passed by a margin of approximately 56 to 44 percent. This initiative created the first opportunity for entrepreneurs to legally grow & process marijuana in the state of Washington as a business model. Today, Alaska, California, Colorado, Maine, Massachusetts, Nevada, Oregon, and Washington D.C. also have laws in place allowing for the sale & possession of cannabis for recreational use by entrepreneurs and twenty additional states allow for the sale & possession of marijuana for medicinal purposes.
The following links to the Washington State Liquor & Cannabis Board website provide good basic information about licensing in Washington for this industry and frequently asked questions about the entrepreneurship in the marijuana industry.
The first generation of entrepreneurs with I-502 businesses are currently experiencing the “growing pains” common in a new industry as they develop & refine business models under the evolving state, municipal, and county laws & regulations for marijuana growing facilities, processing plants, and retail stores. This marketplace in transformation often produces entrepreneurial decision points requiring business owners to select from a menu of management & investment choices ranging from additional investment and business model modification to business sale and acquisition.
IBA, as the premier business brokerage firm in the Pacific Northwest in terms of knowledge, experience, and professional negotiation skills, is uniquely positioned to serve as a resource to I-502 entrepreneurs based on our transactional experience involving new & evolving marketplaces and specifically in the marijuana industry.
IBA professionals serving the cannabis industry have already gained leading edge, industry specific knowledge & experience through participation as deal facilitators in transactions in Washington & Colorado. We would welcome the opportunity to talk with any I-502 entrepreneurs that would like to discuss selling or acquiring a cannabis industry business, leasing or acquiring real estate for this specialized use, or staging a business for future sale. IBA has a long history of successfully facilitating transactions in emerging industries where entrepreneurs are battling at a high velocity for market share & racing to perfect business models that will create competitive advantages. The members of our cannabis industry transaction team have the ability & knowledge to value, market, and successfully negotiate the sale of growing facilities, producer processors, and retail businesses serving the marijuana marketplace that are in leased locations or include real estate. IBA professionals have also successfully represented & sold businesses that support the cannabis industry ranging from hydroponic equipment & nutrient businesses to trade contractors such as electricians, plumbers, and heating & air conditioning technicians.