Washington state’s legalization of recreational marijuana sounded like an entrepreneur’s dream, but the reality had Brandon Neth looking for an exit after only 5 years.
Imagine two homes on the same street with the same square footage, and the same interior – but one sells for double the price. What happened? The answer: one home had a Rembrandt in the attic – a hidden masterpiece, skyrocketing its value.
If you think of your business as a home, what would be the Rembrandt in your attic?
For Brandon Neth, founder of Northwest Cannabis Solutions (NWCS), his “Rembrandt” was the license to produce marijuana in Washington State.
Ready to exit his business after just 5 years, Neth discovered the combination of an oversaturated market and strict state regulations made it difficult to sustain profit and place any company value on paper. But, he had one tantalizing asset: acquirers were desperate for a coveted license to produce pot in Washington.
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- How vertical integration in an industry can limit business growth
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About Brandon Neth
Brandon Neth is a travel enthusiast and entrepreneur living in Portland, Oregon. He graduated from Washington State University in 2006 and has had a “less than traditional” path to business ownership. Two years out of college he moved abroad where he worked numerous jobs, started his first business, and caught the travel bug!
Thanks to the low cost of living, a very frugal lifestyle, and some smart financial moves he was able to get out of debt at an early age. This gave him the ability to start his businesses and to start focusing on passive income sources. All this has allowed him to reach FI/RE at an early age, but he continues to work for FinanceBuzz.com because he loves what he does.
Get in touch with Neth through his FBZ Elite Travel and Points Facebook group.
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