Today on The Wealth Secrets Podcast, Sean Adams talks to Tony Frischknecht, a forward-thinking cannabis entrepreneur and the founder of Plant Problems-- a renowned company in the cannabis growing, distribution, processing, and investing space. We talk about the many different ways an investor can get involved in the cannabis industry, regulations in different states, and the negative stigma around cannabis production and use.
[02:43] Tony’s entrepreneurial journey
[11:15] Tony’s transition from medical to commercial cannabis production
[14:30] Business opportunities in the cannabis industry
[17:23] Cannabis wholesale and retail opportunities
[19:40] How to build a vertically-integrated marijuana business
[21:40] Pros, cons, and opportunities after cannabis legalization
[34:31] Breaking the stigma around cannabis use and production
[37:50] The different forms and uses of marijuana
[42:13] What you need to know about cannabis real estate
[47:15] Hands-off investing in the cannabis industry
[52:39] Regulations on cannabis production, research, and recreational use
[54:01] How to invest in cannabis stocks
Tony’s Transition from Medical to Legal Commercial Cannabis
A few years after delving into the world of medical cannabis production, Tony saw an opportunity to scale his business and dive into wholesaling. Several of his clients could plant cannabis for medicinal purposes but lacked the skills, knowledge, and space. With that, he expanded his business to sell to his ever-growing number of clients and also supply local stores. Furthermore, the recent wave of legalization of recreational marijuana use in several states supercharged the growth of his business.
According to Tony, gone are the days when cannabis growers were associated with disorganized underground economies. Today, marijuana production is all about state-of-the-art agricultural facilities that can produce safe, regulated, and high-quality products for the lucrative and fast-growing American market.
Tony goes on to add that hands-off business opportunities in marijuana production are also on the rise. Professional service providers such as lawyers, digital marketers, and accountants can easily pivot into the cannabis space. These service providers are crucial for the marijuana industry, given the diverse regulations and preferences from state to state.
Links and Resources
Tony’s Book: From Black Market to The Man
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All shared information from the Wealth Secrets Podcast should not be taken as legal or financial advice. Please consult with a professional before making any decisions.