With an estimated value of $16B+, the North American cannabis industry is teeming with green both in product and in profit.
Making money is a solid bet when it comes to cannabis, so the deeper question is, who will benefit from all that green?
Growing Talent is a cannabis technology company that seeks to develop budding entrepreneurs, particularly in communities of color, through what they’ve labeled their “equity incubator.”
Growing Talent’s mission is to “create ecosystems that improve the socio-economic conditions of those communities which create the high potential to build generational wealth that has been nonexistent.”
How do they do it? Growth Talent offers a development program (similar to the franchise model of Chick-fil-A or Edward Jones) that guides prospective owners “from concept to opening their doors.”
To accomplish this, Growth Talent has developed a home-grown, proprietary operating system (built on Salesforce), which it describes as a “Systems as a Service” level of support and functionality.
The Future of Growing Talent
So does the “system” work? Case in point… since its inception, Good Tree (Growing Talent’s retail partner) has amassed $3.5M in total revenue and 22k+ deliveries at a blazing 60 minute average delivery time.
So where do they go from here? Growing Talent seeks to expand the franchise across states like Illinois, Massachusetts, New York, and Texas… just to name a few.
Growing Talent believes it can replicate this turnkey cannabis dispensary model in city after city, all while helping communities of color build generational wealth.
What Interested Investors Need to Know
Three things that investors should take note of:
- Growing Talent has an established track record: They’ve already established budding dispensaries funneled through their Equity Incubator in Los Angeles, Oakland, and San Francisco.
- Their tech does the talking: Proprietary “Systems as Service” software built on Salesforce.
- Leadership, leadership, leadership: CEO Rashaan Everett founded the multi-million dollar cannabis brand Good Tree, as well as an event planning agency that claims Lyft and Redbull as clients. And he’s got a strong finance background to boot.