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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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