Part 1 - Weed and Money

This three-part series explores one man's journey into the legal cannabis industry in and around San Diego, California. 

Rakesh "Rocky" Goyal, a commercial real estate businessman by trade, wanted to figure out how to acquire a hard-to-come-by permit to sell weed to an older, sophisticated demographic.  His mother, an Indian immigrant, was one of the key people that gave him the idea to go into this crazy business. He developed a concept of creating a weed shop that resembled a boutique drugstore, instead of a dusty pawn shop. Once he started the process, it took Rocky almost two years to bring his idea to fruition.

Just a handful of years later, Rocky has sold his first operation for a nice profit and now owns and operates multiple cannabis businesses in Southern California. In this rare interview, he breaks down the steps it takes to be a successful entrepreneur in the weed industry. 

In Part 1, we visit Rocky at his home atop a hill in a posh suburban San Diego neighborhood. He explains how the city of San Diego jumped head first into the regulated weed industry, making licenses available to a small, eclectic group of investors. As California transitioned into full legalization, forward-thinking moguls like Rocky were already putting pieces into play, figuring out how to profit while others failed. Beyond getting a license to sell, you need to also look at diversifying your offerings with grow operations, products, branding and a whole lot more.

In Part 2, we will hear how he sold his first shop and then wrap up the conversation about making money in the weed industry with a look into the future. Rocky tells us about how a good idea isn't enough to be successful anymore. Cannabis is a fast growing market that requires a bit of expertise to navigate correctly. One of the hot button topics that a lot of industry insiders is the idea of Social Equity and what it will look like going forward. It's no mystery why the war on drugs has disproportionately affected low-income, minority families more than anyone else in California. What can be done to give access to the permits so that legitimate operators can be found in every community in the state?

During Part 3, we get a chance to see the inside of Rocky's operation and look under the hood of a successful recreational cannabis shop that stays true to his original intent.  It's a striking boutique operation where the products are not hiding behind locked glass cabinets or counters. You can actually pick up jars of bud, read the label and take it to the cashier. All kinds of products line the shelves from edible to medical to stuff for your dog.  After visiting a working store, we check out two more shops he's about to open up. The first one is ready to go with all the fixings, while the second is a former Chinese restaurant that needs to be gutted.  

After all three parts are complete, the listener will have a really good idea of what it takes to make it in California's legal marijuana industry. It's a growing business with a lot of potential but plenty of pitfalls. Not everyone makes it out unscathed.  I hope you enjoy this discussion.  Be sure to reach out to us on our website, TheBrownmanPodcast.com.  We would love to hear your feedback.