It’s easy to get excited about the cannabis industry when you hear that legal cannabis sales in the U.S. grew 30 percent in 2020 to a whopping $22 billion, outpacing the $17.5 billion spent on wine. If you’re a savvy, experienced businessperson, you might mistake that kind of booming market with an opportunity to turn a quick profit.
But there are a few aspects of operating a business in the cannabis industry that are dramatically different from running a typical business. Here are three hard truths about cash flow that people need to understand before even considering launching a cannabis business.
Hard Truth 1: You Need Considerable Liquid Funds to Start and Operate a Cannabis Business
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