There are some industries that have a high barrier of entry for new business owners.
Brick and mortar retail stores are a good example because of the rise of corporate megaliths that are able to bring consumers all of the products they need at much lower prices. You have to compete with massive companies that are willing to take a loss for a while if it means creating a better hold on the market. Back in my parents’ generation, you could make a living for yourself operating a brick and mortar store because most businesses were on a much more level playing field. Instead, you’ve got markets that are already highly saturated and barely capable of taking on a bigger load with existing options available. You have to be reasonable with your expectations if you want to be a business owner yourself. My friend Michael and I would often dream about one day opening and operating a large medical marijuana dispensary. We had loads of ideas, it’s just a shame that none came to fruition. It would not have meant much regardless. Our home state makes it next to impossible to afford a medical marijuana business license without tens of millions of dollars. On top of that, you need even more money than not to invest in your grow facilities and retail stores. So unless you or a group of investors has tens of millions to hundreds of millions of dollars sitting around in a bank account somewhere waiting to be spent, you should probably change your priorities about having a cannabis dispensary dream become a reality.