Best Practices

9 Easy Ways To Save Money In Your Cannabis Business

You don’t have to move onto a farm to save money

The best place to find an opportunity is often the last place you want to look—in the thick of a problem. That was the case for the founders of cannabis startup Plain Jane, who had the brilliant idea to create low-odor hemp cigarettes but no startup cash.

Most aspiring entrepreneurs in that position would find themselves a day job before they ran headfirst into the unknown. But this gutsy trio put an ad on Craigslist for a hemp farmer who would let them live on his land rent-free, buy some of his hemp on net terms, and sell the rest using the farmer’s license. It worked.

“We were living in an RV. There was no space. We did everything ourselves. We made the cigarette rolls by hand in the barn,” says Plain Jane cofounder Lindsey Holthaus. But they didn’t pay for either a place to live or a production facility, which saved $15,000 their first year. And just nine months after they placed the ad, sales topped $200,000 a month. Now Plain Jane is a go-to source.

You don’t have to move onto a farm to save money. But you do need to come up with some creative strategies. Here are some tried-and-true ways you can ease the burden on your bank account.

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