Jacob Redmond
Well-Known Member
Keenan Hollister and his father, Cole, spent Friday afternoon wrangling closet-sized safes into storage for a new family business, The Pakalolo Supply Co.
The Hollisters are among multiple local residents waiting for state and municipal governments to set up regulations for the budding marijuana industry.
Local cannabis entrepreneurs are reserving business names, creating logos, lining up financing, buying equipment, honing their growing skills and making plans to cash in on a new industry in Alaska.
"Once the borough comes out with zoning regulations, we can start looking at real estate," Hollister said.
The deadline for the state to start issuing licenses for marijuana businesses is May 24, 2016, according to Cynthia Franklin, director of the state of Alaska Alcoholic Beverage Control Board, which is responsible for marijuana regulations until a marijuana control board is named.
"Probably the earliest you could expect to buy cannabis in a store is sometime around August of 2016," Franklin said.
The Hollisters are getting a head start establishing their brand by selling T-shirts through social media.
They are modeling their company after a craft brewery.
"We want to set ourselves up to be the first," Keenan said.
Business names reserved by local residents, according to a state database, include 420 North Cannabis, Interior Marijuana Gardens, Phatt Phreddies Marijuana Dispensary, Cannabis Connoisseur, Advanced Cannabis Oils, Cannabis Cache, Fairbanks Cannabis, Alaska Weed Company and Ganja Goddess.
Jeff Bushke reserved the name Cannabis Cache but said he probably won't open a business.
Bushke had a logo made, and he bought an Internet domain name. He is hoping to sell the name, the logo and the Web domain for $10,000.
"The name cache is very Alaskan," Bushke said. "That's why I picked it. Somebody might want that name."
Doug McCort is making plans to sell marijuana oils under the name Advanced Cannabis Oils. He is looking to cater to people who use pot for medical reasons.
McCort already runs an Internet referral business, from his North Pole home, for oils derived from industrial hemp grown overseas.
McCort, who sufferers from cyclical vomiting syndrome, said "cannabis has long been the only effective substance over countless pharmaceuticals that I have tried."
"Our laws changing opens up a tremendous opportunity for me," McCort said. "People are going to be looking at both medicinal use and recreational."
Cole Hollister said he knows of at least 25 viable marijuana businesses in the works across Alaska. He suspects there are probably more.
"There's quite a few businesses that are at the same stage we are," he said.
Frank Berardi, chairman of the board of the Coalition for Responsible Cannabis Legislation, which is working with state and local leaders to set up a regulatory framework for the industry, said marijuana entrepreneurs are having to turn to venture capitalists, private lenders, friends and family for financing because banks are shy to do business with cannabis companies, which remain illegal in the eyes of the federal government.
Berardi is planning to open a business in Fairbanks, with friends, called Cannabis Connoisseur. He declined to discuss details of the company for proprietary reasons.
Berardi, who has a master's degree in business and experience growing weed for medical marijuana patients, said he expects competition will be heavy once the state starts issuing permits for marijuana businesses.
"You want to keep some of those ideas of how you are going to operate and what capacity you are going to operate close to yourself," he said.
Franklin, from the ABC board, said businesses jumping the gun and selling pot now, such as Discrete Deliveries, a marijuana delivery business operating in Fairbanks, are casting a shadow over the industry and making it harder for her agency to do its job.
"A lot of people who are waiting to start their businesses are feeling pressure from illegal businesses," Franklin said.
People selling pot now are breaking the law, she said, and hurting the credibility of the marijuana industry before legitimate businesses get a chance to open their doors.
"We are down here working very hard on getting these rules together," Franklin said from her office in Anchorage.
"To the businesses that are waiting, kudos," she said.
Keenan Hollister gave up a steady paycheck as a teacher to go into business with his dad, who has business experience from operating an insurance agency and is providing financing.
Hollister said his cousin is a marijuana grower in Washington. Colorado and Oregon also legalized recreational marijuana.
Hollister and his father also are planning to operate a marijuana cultivation facility, assuming the state allows it, to supply product for their store.
For now, Hollister is honing his growing skills cultivating the six plants he is allowed for personal use.
"The whole thing has been a hurry up and wait situation," he said.
News Moderator: Jacob Redmond 420 MAGAZINE ®
Full Article: Entrepreneurs get ready for the green rush - Fairbanks Daily News-Miner: Local News
Author: Amanda Bohman
Contact: abohman@newsminer.com
Photo Credit: None Found
Website: Fairbanks Daily News-Miner: The voice of Interior Alaska since 1903
The Hollisters are among multiple local residents waiting for state and municipal governments to set up regulations for the budding marijuana industry.
Local cannabis entrepreneurs are reserving business names, creating logos, lining up financing, buying equipment, honing their growing skills and making plans to cash in on a new industry in Alaska.
"Once the borough comes out with zoning regulations, we can start looking at real estate," Hollister said.
The deadline for the state to start issuing licenses for marijuana businesses is May 24, 2016, according to Cynthia Franklin, director of the state of Alaska Alcoholic Beverage Control Board, which is responsible for marijuana regulations until a marijuana control board is named.
"Probably the earliest you could expect to buy cannabis in a store is sometime around August of 2016," Franklin said.
The Hollisters are getting a head start establishing their brand by selling T-shirts through social media.
They are modeling their company after a craft brewery.
"We want to set ourselves up to be the first," Keenan said.
Business names reserved by local residents, according to a state database, include 420 North Cannabis, Interior Marijuana Gardens, Phatt Phreddies Marijuana Dispensary, Cannabis Connoisseur, Advanced Cannabis Oils, Cannabis Cache, Fairbanks Cannabis, Alaska Weed Company and Ganja Goddess.
Jeff Bushke reserved the name Cannabis Cache but said he probably won't open a business.
Bushke had a logo made, and he bought an Internet domain name. He is hoping to sell the name, the logo and the Web domain for $10,000.
"The name cache is very Alaskan," Bushke said. "That's why I picked it. Somebody might want that name."
Doug McCort is making plans to sell marijuana oils under the name Advanced Cannabis Oils. He is looking to cater to people who use pot for medical reasons.
McCort already runs an Internet referral business, from his North Pole home, for oils derived from industrial hemp grown overseas.
McCort, who sufferers from cyclical vomiting syndrome, said "cannabis has long been the only effective substance over countless pharmaceuticals that I have tried."
"Our laws changing opens up a tremendous opportunity for me," McCort said. "People are going to be looking at both medicinal use and recreational."
Cole Hollister said he knows of at least 25 viable marijuana businesses in the works across Alaska. He suspects there are probably more.
"There's quite a few businesses that are at the same stage we are," he said.
Frank Berardi, chairman of the board of the Coalition for Responsible Cannabis Legislation, which is working with state and local leaders to set up a regulatory framework for the industry, said marijuana entrepreneurs are having to turn to venture capitalists, private lenders, friends and family for financing because banks are shy to do business with cannabis companies, which remain illegal in the eyes of the federal government.
Berardi is planning to open a business in Fairbanks, with friends, called Cannabis Connoisseur. He declined to discuss details of the company for proprietary reasons.
Berardi, who has a master's degree in business and experience growing weed for medical marijuana patients, said he expects competition will be heavy once the state starts issuing permits for marijuana businesses.
"You want to keep some of those ideas of how you are going to operate and what capacity you are going to operate close to yourself," he said.
Franklin, from the ABC board, said businesses jumping the gun and selling pot now, such as Discrete Deliveries, a marijuana delivery business operating in Fairbanks, are casting a shadow over the industry and making it harder for her agency to do its job.
"A lot of people who are waiting to start their businesses are feeling pressure from illegal businesses," Franklin said.
People selling pot now are breaking the law, she said, and hurting the credibility of the marijuana industry before legitimate businesses get a chance to open their doors.
"We are down here working very hard on getting these rules together," Franklin said from her office in Anchorage.
"To the businesses that are waiting, kudos," she said.
Keenan Hollister gave up a steady paycheck as a teacher to go into business with his dad, who has business experience from operating an insurance agency and is providing financing.
Hollister said his cousin is a marijuana grower in Washington. Colorado and Oregon also legalized recreational marijuana.
Hollister and his father also are planning to operate a marijuana cultivation facility, assuming the state allows it, to supply product for their store.
For now, Hollister is honing his growing skills cultivating the six plants he is allowed for personal use.
"The whole thing has been a hurry up and wait situation," he said.
News Moderator: Jacob Redmond 420 MAGAZINE ®
Full Article: Entrepreneurs get ready for the green rush - Fairbanks Daily News-Miner: Local News
Author: Amanda Bohman
Contact: abohman@newsminer.com
Photo Credit: None Found
Website: Fairbanks Daily News-Miner: The voice of Interior Alaska since 1903
